这道题答好像案错了。如果short RMB的话应该是卖掉RMB换做美元，并在远期上做换回RMB的操作，这样做的话一定是亏钱的，就是-715 RMB。

可以换个解说么

As a result of a change in strategy to selling differentiated products at premium prices, a company's gross margin ratio increased by 5 percentage points (i.e., from 35 percent to 40 percent). The most likely effect on the company's operating margin ratio as a result of the changes in strategy would be an increase? A equal to 5%. B less than 5%. C greater than 5%. 查看解析 上一题 下一题 正确答案B 您的答案A 请问SG&A中 含广告费和R&d费用吗？

Assume a firm with a debt to equity ratio of 0.50 and debt equal to $35 million. It makes a commitment to acquire raw materials with a present value of $12 million over the next 3 years. For purposes of analysis, the best estimate of the debt to equity ratio should be: A 0.500. B 0.573. C 0.671. 查看解析 上一题 下一题 正确答案C 您的答案A本题平均正确率：50% The original debt / equity ratio = 35 / 70 = 0.5. Now adjust the numerator but not the denominator. Why? You have commitments (liabilities) but no new equity because (non-current) liabilities and assets are increased by the same amount. D/E = (35 + 12) / 70 = 0.671. 请问：这12M应该是A/P吧，而AP是不计利息的，算L,但是不算在DEBT里面，所以理论上比值应该保持不变？

The following footnote appeared in Crabtree Company's 20X7 annual reports: "On December 31, 20X7, Crabtree recognized a restructuring charge of $20 million, of which $5 million was for severance pay for employees who will be terminated in 20X8 and $15 million was for land that became permanently impaired in 20X7." Based only on these changes, Crabtree's net profit margin and fixed asset turnover ratio (using year-end financial statement values) in 20X8 as compared to 20X7 will be: A Higher for net profit margin; higher for fixed asset turnover. B Higher for net profit margin; unchanged for fixed asset turnover. C Lower for net profit margin; higher for fixed asset turnover. B The restructuring charge and asset write-down are non-recurring transactions; thus, net income will be higher in 20X8, all else equal. 请问此题中 究竟是20M的总重组费还是5M的解雇费影响NI?

就是因为资不抵债才没法严格按照顺序来啊，如果清算时资产价值完全是充足的，该拿多少，拿多少，都够，那还会有人去纠结这个顺序吗？而对于所谓优先权的妥协，那是没办法啊，为了可以顺利处置必须达成一致，那这不是造成顺序不能被完美执行的原因吧，原因那肯定是不够分啊，是实际中要照顾各方利益啊，这题逻辑不太通啊。

这个知识点哪里讲了？

Given the following spot and forward rates, how much should an investor pay for each $100 of a 3-year, annual zero-coupon bond? One-year spot rate is 3.75% The 1-year forward rate 1 year from today is 9.50% The 1-year forward rate 2 years from today is 15.80% The investor should pay approximately: 这道题的计算过程麻烦讲解下

请问老师，题目中说道，dividends paid属于Financing activity，而且题目中的意思是付出去的dividends 是10 million，在课件中也是属于Cash Flow from Financing Activity。为什么在计算中要加上10呢？

如果信息成本很高，很多人就不参与了，那么市场有效性就会变低。在无效市场里面，不是收益更高么？ 如果只是不限制卖空，市场强有效，还是没套利空间啊