请教原版书另类投资-private房地产投资-24题 我的理解：根据cost approach，replacement cost减去资本化的修缮后，要进行一个折旧换算，即这里图中remaining economic life比上total economic life。之后再减费用化修缮以及其他obsolescence，加上土地价值，得reproduction cost。 那问题来了，此题答案居然没有折旧这一环节，如何理解？

请问怎么理解实际收益率上升更应该买债券 收益率上升债券价格不是下降了么 谢谢

aggregate principle balance of the automobile loan contracts 和 the principle balance of the notes.分别是什么意思

老师，请问权益课后测试1.2为什么reason2不对？答案解析没看懂

The following information relates to Questions 37–42 Balance Sheet Information (US$ Millions) Exhibit 1. As of 31 December 2009 2008 Cash and cash equivalents 172 157 Accounts receivable 626 458 Inventories 620 539 Other current assets 125 65 Total current assets 1,543 1,219 Property and equipment, net 3,035 2,972 Total assets 4,578 4,191 Total current liabilities 1,495 1,395 Long-term debt 644 604 Total liabilities 2,139 1,999 Common stock and paid in capital 1,652 1,652 Retained earnings 787 540 Total shareholders’ equity 2,439 2,192  The LIFO reserves as of 31 December 2009 and 2008 are $155 million and $117 million respectively, and  The effective income tax rate applicable to Karp for 2009 and earlier periods is 20 percent. 39. If Karp had used FIFO instead of LIFO, its reported net income for the year ended 31 December 2009 would have been higher by an amount closest to: A. $30 million. B. $38 million. C. $155 million. 这题，为什么不选B，而选A呢？

为什么CFO从net income往cash flow调整要调balance sheet里的内容？

28. In a period of declining inventory unit costs and constant or increasing inventory quantities, which inventory method is most likely to result in a higher debt-to-equity ratio? A. LIFO B. FIFO C. Weighted average cost 老师，讲解一下这题。

5. Which inventory accounting method results in the lowest inventory turnover ratio for the first quarter? A. Periodic LIFO B. Perpetual LIFO C. Perpetual FIFO 老师，视频课例题里总结的：对于COGS来说，Periodic LIFO＞Perpetual LIFO＞Perpetual FIFO = Perpetual FIFO； 此题应该选C呀，为何答案选A呢？

2. Mustard Seed PLC adheres to IFRS. It recently purchased inventory for €100 million and spent €5 million for storage prior to selling the goods. The amount it charged to inventory expense (€ millions) was closest to: ， A. €95. B. €100. C. €105. 麻烦老师讲解一下该题，附一下解题过程。谢谢。

题目中说基金经理做这个决定是基于考虑了IPS中的“maximize return, with minimized risk".所以加入这个杠杆产品从整体组合看来应该是降低了风险。所以她应该不是违背了IPS为了更高的收益而购买杠杆衍生品，而是利用衍生产品特性优化了整个投资组合吧？