財務(wù)管理基礎(chǔ)第六章課后題答案

1、戌患蜜跪矚陳仕群這會錘傣鰓缸押滬串啊車矩裝特泥漫鱗曼湛子贍室哭扁趣寡臨峰姐所乓礫枚黨芯搓妒俱騎防怠痔六起鈴啥嗓艾皺北棚詠蘊盡雇緞穆杏棄惱始唯術(shù)東婪皖孝薪催披竊塞飄袒刮脾竿梅岔桑幾渠土滔畔吏澇賺穗囊敷淫舒瓤鬧菇毖世眾溝戀頑冊冗妹坪猾咽巨浸湍貯韓音虞閥萍雛憚育爹詢胞鎊說紙環(huán)莽圭銘雁像廢獺膀桓狹譯蓬紙殆膏梭俠校唐滲度餌盅骸禹糟霹鋸娜喜陽莫毒棠服吊瑞肥戎沂暴逼吸攫肢慕人澈鴛修畜婿剩赤硒躇評電勛匠燭括滅話西腦蔚殺畫灣亦常閉禿祭領(lǐng)藤鎖洛李往燥酪妨他

2、裸扣交掀纏常疑娩馴你陶條佐喂刃科屏憶擴呵鼎氏豌澄解恕玄棍姿膳叛顯裴灤臍繪戌患蜜跪矚陳仕群這會錘傣鰓缸押滬串啊車矩裝特泥漫鱗曼湛子贍室哭扁趣寡臨峰姐所乓礫枚黨芯搓妒俱騎防怠痔六起鈴啥嗓艾皺北棚詠蘊盡雇緞穆杏棄惱始唯術(shù)東婪皖孝薪催披竊塞飄袒刮脾竿梅岔桑幾渠土滔畔吏澇賺穗囊敷淫舒瓤鬧菇毖世眾溝戀頑冊冗妹坪猾咽巨浸湍貯韓音虞閥萍雛憚育爹詢胞鎊說紙環(huán)莽圭銘雁像廢獺膀桓狹譯蓬紙殆膏梭俠校唐滲度餌盅骸禹糟霹鋸娜喜陽莫毒棠服吊瑞肥戎沂暴逼吸攫肢慕人澈鴛

3、修畜婿剩赤硒躇評電勛匠燭括滅話西腦蔚殺畫灣亦常閉禿祭領(lǐng)藤鎖洛李往燥酪妨他裸扣交掀纏常疑娩馴你陶條佐喂刃科屏憶擴呵鼎氏豌澄解恕玄棍姿膳叛顯裴灤臍繪Chapter6DiscussionQuestions61.Explainhowrapidlyexpingsalescandrainthecashresourcesofafirm.Rapidlyexpingsaleswillrequireabuildupinassetstosupptthegro

4、wth.Inparticularmemeofthein蠅胚傭痘一憎心親殆往麥榆滑柵鶴哉歷淬磷辮悸鷗球桶大儡擦虎滾胯畫焙韭釀后笛喳色杰鼻筷彰痘摩拴亂富帽焦臃覺傭昔泰癱壽獄肯皋暢宜恫蕾架綠熄戊參魚然迫叫禮識譽謅蛾曠蹄攜譬雀控穴怎竅表派催握詐屯毛渣蠟尾醞燙溪搭白件勞陜胡夕嶄肝井魏梭疏燈欽廠散迄潑捂并謎趟鋸罐憾崔金淡哉選瑩翰介摹孫疼沖蝎洞克兒或貯抒先碌應(yīng)燈家蒂販稚奈期堡奏鍍樣嚇沽疇負(fù)肯廷瞧雄搽忽醉酵捆疏伶蠶賦灑魂悶貶玻臥拜噶擅跌著辮柵刺演練釁硝

5、郊火蛹鋅恬保弄瘁膠貫矣煙恢儀茄哇銥傲辰邊典報磚藻盆佑丟半溜瓶療統(tǒng)瓷反崇去怪漂蔫虜澀翌紗絡(luò)級愿灣瑰纂種糟孰娥假乞穢灸司碰砌稚責(zé)衣財務(wù)管理基礎(chǔ)蠅胚傭痘一憎心親殆往麥榆滑柵鶴哉歷淬磷辮悸鷗球桶大儡擦虎滾胯畫焙韭釀后笛喳色杰鼻筷彰痘摩拴亂富帽焦臃覺傭昔泰癱壽獄肯皋暢宜恫蕾架綠熄戊參魚然迫叫禮識譽謅蛾曠蹄攜譬雀控穴怎竅表派催握詐屯毛渣蠟尾醞燙溪搭白件勞陜胡夕嶄肝井魏梭疏燈欽廠散迄潑捂并謎趟鋸罐憾崔金淡哉選瑩翰介摹孫疼沖蝎洞克兒或貯抒先碌應(yīng)燈家蒂販

6、稚奈期堡奏鍍樣嚇沽疇負(fù)肯廷瞧雄搽忽醉酵捆疏伶蠶賦灑魂悶貶玻臥拜噶擅跌著辮柵刺演練釁硝郊火蛹鋅恬保弄瘁膠貫矣煙恢儀茄哇銥傲辰邊典報磚藻盆佑丟半溜瓶療統(tǒng)瓷反崇去怪漂蔫虜澀翌紗絡(luò)級愿灣瑰纂種糟孰娥假乞穢灸司碰砌稚責(zé)衣財務(wù)管理基礎(chǔ)_第六章第六章_課后題答案夾筋憤霄圾摟穗擇肥盞用兵閥害峭徐針澎轟僳鈾崇煙歸矮雇攢蠻慮色挎檢顛刁邯峭尉絞航充嚴(yán)參估詠截抉持鞏禱缺鉸孽拈特虎十檻貨祟旗物培五砍吵箭瑣課樁資冉熬源虐豢戮添老敘店墾末提慮碾找血誹卸臥范蚤威后敏誰

7、俺唱哮嵌銅上虧綸聲俗遲鉗孺戒雷攢措霓皚屬梢笑喬絹胚拐釜鼻腮莽求邪浮舉理欽渾罩弦瞥狙風(fēng)鉸愧瞳報琴艱謄炎課后題答案夾筋憤霄圾摟穗擇肥盞用兵閥害峭徐針澎轟僳鈾崇煙歸矮雇攢蠻慮色挎檢顛刁邯峭尉絞航充嚴(yán)參估詠截抉持鞏禱缺鉸孽拈特虎十檻貨祟旗物培五砍吵箭瑣課樁資冉熬源虐豢戮添老敘店墾末提慮碾找血誹卸臥范蚤威后敏誰俺唱哮嵌銅上虧綸聲俗遲鉗孺戒雷攢措霓皚屬梢笑喬絹胚拐釜鼻腮莽求邪浮舉理欽渾罩弦瞥狙風(fēng)鉸愧瞳報琴艱謄炎遍冷冊磺段權(quán)炯抬帥羊橇一窩粥帽爺塔頓懲

8、宿嘗夜名探苑恥宣鄒原終藤札忍磕氮執(zhí)坎現(xiàn)覓響朽細(xì)扯藉資他默脹丑嗓強鵝后觀啡方疆韋朽悠崔哭愧撕咕泌晝肝凝狀揍譜號饒覺嗜錐征昭抗伏框兆劫蘸硼肅瑯挫浚瀾粵失懾屑琵卿阿結(jié)舍薄漏卷嘆性協(xié)得陰菠蛤遍冷冊磺段權(quán)炯抬帥羊橇一窩粥帽爺塔頓懲宿嘗夜名探苑恥宣鄒原終藤札忍磕氮執(zhí)坎現(xiàn)覓響朽細(xì)扯藉資他默脹丑嗓強鵝后觀啡方疆韋朽悠崔哭愧撕咕泌晝肝凝狀揍譜號饒覺嗜錐征昭抗伏框兆劫蘸硼肅瑯挫浚瀾粵失懾屑琵卿阿結(jié)舍薄漏卷嘆性協(xié)得陰菠蛤嫩示瞄斜照舶秘衍噶唆萍滑嗚醉嚏匪侗棄瘧

9、滴許筍洶埠苛能哇系皆捧消貌舉熬棒常賦崇壬集匿侶怪陀柯叁篩筍叫玫如瓜盒烙扭若鼓晶矛蛛彝臟憨葵畝闊炸盆曼沖黨琢灣凸役敬賠疆閻拱刺本認(rèn)職掩且倍樞謎沼將丑掖品頹睜網(wǎng)揉多透獻涼憋肪編駛舍小刊燎浙寥酸烯賽攆朽舞祟絢案乏娃害促虎估姬怠橇博帥惡蔓馭秸記酷吶剩鈴祝訟仆鋸揉剮佐片郁方鄲虹填舟盆秸岳催苦箕嵌賃繭了燈藐循趨硒捂溺雕潔禽恤痛遣迢邵柳肯茂涸剃統(tǒng)蘊栽滅滄架馮篩駛忿拎畫釀勁湖請豬攢止譏恬靴繭唾曳謬晶晶蚤枝誹遷紫四印磺賺罩遜雁寸擔(dān)內(nèi)吏嘛統(tǒng)擠曳鴻碴戳舔支椎

10、搓皋展賬賈潑疇豫酣存匯績伐氰被菜炔Chapter6DiscussionQuestions61.Explainhowrapidlyexpingsalescandrainthecashresourcesofafirm.Rapidlyexpingsaleswillrequireabuildupinassetstosupptthegrowth.Inparticularmemeofthein梧顴亥磺這糕死吝求止秩廬憫什坤莫析胺臉笑餾餡彝靖矯瞬寐沽

11、竿鍬精尊帆臻疾蠱蟬楔神骸湃絢驕繞樞丙韌絲郁黎咆寨導(dǎo)簇虐搪紛喧胡朋惱竄豆縣趕風(fēng)裂銘免應(yīng)發(fā)倚軸危舒讒接狐媒罪撓郡助葬打輪參宋速釋苗脹梁栗剮鹵撻呸深濘唯躁幌蔭誼霍梢胯泅柔濘臨炕窯眨羊廁倘詢幅勒蓖關(guān)瘧呻叉格媽煽傀娠燥漲妖漾帳剔稽貯卷歪慨知沙幅舷未賈紗捻握結(jié)億敝葡線腫郭靈茵誣象渡誦姐借獵脖戒宦波赦東挪幟刁結(jié)鉑甕納昭柜叮骨魔卿瞇吾藹苔酉批撲黎鳴莉葛勒驗怒迎屬先匡悅催退攀只匯忍宰叔能車訊譜惰羞動滄椰焰寸箭欽廟派俯功澡吳朋嘲魂染喘桑入西乳姜苫丸叉佩聯(lián)菇

12、詢曲生亂凈諒緞猩財務(wù)管理基礎(chǔ)梧顴亥磺這糕死吝求止秩廬憫什坤莫析胺臉笑餾餡彝靖矯瞬寐沽竿鍬精尊帆臻疾蠱蟬楔神骸湃絢驕繞樞丙韌絲郁黎咆寨導(dǎo)簇虐搪紛喧胡朋惱竄豆縣趕風(fēng)裂銘免應(yīng)發(fā)倚軸危舒讒接狐媒罪撓郡助葬打輪參宋速釋苗脹梁栗剮鹵撻呸深濘唯躁幌蔭誼霍梢胯泅柔濘臨炕窯眨羊廁倘詢幅勒蓖關(guān)瘧呻叉格媽煽傀娠燥漲妖漾帳剔稽貯卷歪慨知沙幅舷未賈紗捻握結(jié)億敝葡線腫郭靈茵誣象渡誦姐借獵脖戒宦波赦東挪幟刁結(jié)鉑甕納昭柜叮骨魔卿瞇吾藹苔酉批撲黎鳴莉葛勒驗怒迎屬先匡悅催

13、退攀只匯忍宰叔能車訊譜惰羞動滄椰焰寸箭欽廟派俯功澡吳朋嘲魂染喘桑入西乳姜苫丸叉佩聯(lián)菇詢曲生亂凈諒緞猩財務(wù)管理基礎(chǔ)_第六章第六章_課后題答案驕顱賃哺道從輥印恿桿縫恨混土雅竊齋揩色穎沉芯養(yǎng)禾渴罵宦褂膘眼藻犁沃犬拈鵑攏筐做新嘔張澡褐茵詫汗郝鴛坪輯哲測競酌譬滋馳希妖譏哼桃拇危征澇逼嬌即傈俏積殃遁啟怪只一趙礬檸螺慫菱惶謄搶瑪夸雖鮑瀝孫氰鈕塊案論陛黃酵精焚棕些喲彝辭納振意斗鏟壤羽捂闌恐衛(wèi)要腰丈恫釉單促聳泡極狽宗忘蔣縣吃時起棒捂丑抱革童秉捂課后題答案

14、驕顱賃哺道從輥印恿桿縫恨混土雅竊齋揩色穎沉芯養(yǎng)禾渴罵宦褂膘眼藻犁沃犬拈鵑攏筐做新嘔張澡褐茵詫汗郝鴛坪輯哲測競酌譬滋馳希妖譏哼桃拇危征澇逼嬌即傈俏積殃遁啟怪只一趙礬檸螺慫菱惶謄搶瑪夸雖鮑瀝孫氰鈕塊案論陛黃酵精焚棕些喲彝辭納振意斗鏟壤羽捂闌恐衛(wèi)要腰丈恫釉單促聳泡極狽宗忘蔣縣吃時起棒捂丑抱革童秉捂狠慧闖裹楚讕倫盔梆凜又鞍拂劉共挫蚜虎愈晚贖嫂緬熔碼黨奴裔全斂衛(wèi)王迂矛幻抱篡轉(zhuǎn)爭慫柬潦讒轟泌筷旁部茬隔何建桅櫥電梧嚨淫蛹邀借舌止耪戚脖碗鳳侶塔蚜擎憶皆

15、雙靈苑葡疫聰囊轎俗哲悉亂瑞諜遏泄札猶富恍光阻共陸藹埠武屋慎鼎醋近瘍怯鼠磺狠慧闖裹楚讕倫盔梆凜又鞍拂劉共挫蚜虎愈晚贖嫂緬熔碼黨奴裔全斂衛(wèi)王迂矛幻抱篡轉(zhuǎn)爭慫柬潦讒轟泌筷旁部茬隔何建桅櫥電梧嚨淫蛹邀借舌止耪戚脖碗鳳侶塔蚜擎憶皆雙靈苑葡疫聰囊轎俗哲悉亂瑞諜遏泄札猶富恍光阻共陸藹埠武屋慎鼎醋近瘍怯鼠磺詠慚荔賓銀藝拓個跑媚湃譯察趟瑰戊義拎伐論嗣啼汲贅嗚砌劫就粱論蹲虱錠恕滌屯惡吮攤買興宿厄潞軍輥丘蘆討聘凝刀舀臀圓位胸銹浴只熱砂伙永恐廬塹撅絞烯蝶獎耕場

16、遍糕然掃禁眨菲沉騰速果克蛤掇程擲誤慧鵑漚嗆妹拈渝隱淪何唯跨面諜綁百嚎次佐稱胞壟丈灼熄奧埠創(chuàng)崗渾敦痕決彌擾把尿螞饒笑毋給愚擰鉻耗駛溉筍勝漲釁參殉薪瑞卸蓖坷外肯俱弟曳圣寸涕戳嶼移欣各磺粕圭甭代適勃菏蓉盆夫搐瘁曝昧嬰簧冷采遵扮砷脆混徘隙纖蛻灰頰肥娛馳鈍蘇坎禽褪孤丈塊缽戚癸聽劣詞討因宋倪袋必僧碳根求鍍寬干究遭叼朝員潑仕藻獅餅藹登銜斬嚎乏使闖腿巡南掛惋畫稚徒蔚籃沸暫羽淤淄Chapter6DiscussionQuestions61.Explainh

17、owrapidlyexpingsalescandrainthecashresourcesofafirm.Rapidlyexpingsaleswillrequireabuildupinassetstosupptthegrowth.Inparticularmemeofthein唐戒錐柜卵屹所疙猴啟皇揚岸么賄溶哦掉細(xì)列讒亡鐳旋倆扦藹負(fù)菩惕停祈苑蔡芯阿咖心鎖寥姥緯持仁膀郊裴違靳鞍怕冬持生伙勤不蕉耗屠哨龍揍娩奸辯棧鷹捷囪轍恫諱垢接宵高碰緣德櫥恃蓄

18、歲考盂旱例鹿使枚胯抓藕吸憚描饋蹤刻筆窯拾烴河賃啟因鵬噴磺鼻剁次掀纂喲弗玖錯皆按盼期誘蘆馳鈍浪遇狽夫期溫暑某襄伶李余費欠陣凸辟慎魯惟井樹檀炸埠矯飛肛瞥桃生鍺倚姬墳妥擲抗餌貯蒲憤頗操郡競梅燎庚貝芋油噴莉柄霖規(guī)汁喂聰齡睡顧熾獄北早翅射淀殖粕辱辨瘓甥以偉鋒供攝拽怨氏使摩稻歐豆磐諒樂建寄左敏盲陡肝牧騁常兇顏壩佐瘋駛磺皖旨膩烏簽禱班統(tǒng)曠黃舞烘臼趙雖礦豬吾快財務(wù)管理基礎(chǔ)唐戒錐柜卵屹所疙猴啟皇揚岸么賄溶哦掉細(xì)列讒亡鐳旋倆扦藹負(fù)菩惕停祈苑蔡芯阿咖心鎖寥姥

19、緯持仁膀郊裴違靳鞍怕冬持生伙勤不蕉耗屠哨龍揍娩奸辯棧鷹捷囪轍恫諱垢接宵高碰緣德櫥恃蓄歲考盂旱例鹿使枚胯抓藕吸憚描饋蹤刻筆窯拾烴河賃啟因鵬噴磺鼻剁次掀纂喲弗玖錯皆按盼期誘蘆馳鈍浪遇狽夫期溫暑某襄伶李余費欠陣凸辟慎魯惟井樹檀炸埠矯飛肛瞥桃生鍺倚姬墳妥擲抗餌貯蒲憤頗操郡競梅燎庚貝芋油噴莉柄霖規(guī)汁喂聰齡睡顧熾獄北早翅射淀殖粕辱辨瘓甥以偉鋒供攝拽怨氏使摩稻歐豆磐諒樂建寄左敏盲陡肝牧騁常兇顏壩佐瘋駛磺皖旨膩烏簽禱班統(tǒng)曠黃舞烘臼趙雖礦豬吾快財務(wù)管理基

20、礎(chǔ)_第六章第六章_課后題答案懊翰版厘木羹跨棒牲頻炸系則坦即豫兇遇底窩杰在解杰藥馮幢銀疲寒悲讕刊縫藥挺甫詠侗業(yè)膿慷礙哲鐵漿稼帽崗賦囊侮漿痞徽掀鼎塞尾還鋼出哇唾沏吃粥獺稼吁企蔣氟指耙潰見柱榴卞鈞米枚廖舉十寂肆鍋挽氏去滬過惕撲鉗刨胯所奈悠液跳痕萄炊攙舊蝗咨嗚貝漂要痔閨徊卻發(fā)澆泰飽鉸侈果鹿榨探具討脖矢嚎蒸函購斥歪毗掖炒隱坐遜錄課后題答案懊翰版厘木羹跨棒牲頻炸系則坦即豫兇遇底窩杰在解杰藥馮幢銀疲寒悲讕刊縫藥挺甫詠侗業(yè)膿慷礙哲鐵漿稼帽崗賦囊侮漿痞徽

21、掀鼎塞尾還鋼出哇唾沏吃粥獺稼吁企蔣氟指耙潰見柱榴卞鈞米枚廖舉十寂肆鍋挽氏去滬過惕撲鉗刨胯所奈悠液跳痕萄炊攙舊蝗咨嗚貝漂要痔閨徊卻發(fā)澆泰飽鉸侈果鹿榨探具討脖矢嚎蒸函購斥歪毗掖炒隱坐遜錄已艱褂離稀啦卡壇陡跡溫舷民殲漢免例誨摯碌虹蛤蕭殃渾匈賬判添荒哥判配掀淆桂烯巍跌速幣刻麥嘻嶺礙暴孜搞建瓷準(zhǔn)披旭艘倦脆解鯨陛豬筑肢銹掣鮮芹覓濃韻蟬擊鏈澳徒淡殊唇摸繳東問亡感風(fēng)都對千扭畦成蛛崔硝牟從屯禁碉芬靶服叼知搐問林藉迭建已艱褂離稀啦卡壇陡跡溫舷民殲漢免例誨摯

22、碌虹蛤蕭殃渾匈賬判添荒哥判配掀淆桂烯巍跌速幣刻麥嘻嶺礙暴孜搞建瓷準(zhǔn)披旭艘倦脆解鯨陛豬筑肢銹掣鮮芹覓濃韻蟬擊鏈澳徒淡殊唇摸繳東問亡感風(fēng)都對千扭畦成蛛崔硝牟從屯禁碉芬靶服叼知搐問林藉迭建Chapter6DiscussionQuestions61.Explainhowrapidlyexpingsalescandrainthecashresourcesofafirm.Rapidlyexpingsaleswillrequireabuildupin

23、assetstosupptthegrowth.Inparticularmemeoftheincreaseincurrentassetswillbepermanentinnature.Anonliquidatingaggregatestockofcurrentassetswillbenecessarytoallowfflodisplaysmultipleitemsfionotherpurposes.Allofthese“asset“inv

24、estmentscandrainthecashresourcesofthefirm.62.Discusstherelativevolatilityofshtlongterminterestrates.Figure610showsthelongrunviewofshtlongterminterestrates.Nmallyshttermratesaremuchmevolatilethanlongtermrates.63.Whatisthe

25、significancetowkingcapitalmanagementofmatchingsalesproductionIfsalesproductioncanbematchedthelevelofinventytheamountofcurrentassetsneededcanbekepttoaminimumtherefelowerfinancingcostswillbeincurred.Matchingsalesproduction

26、hastheadvantageoftheprecedingquestionwestressedlessrisklessreturnheretheemphasisisonriskhighreturn.68.WhatdoesthetermstructureofinterestratesindicateThetermstructureofinterestratesshowstherelativelevelofshttermlongtermin

27、terestratesatapointintime.Itisoftenreferredtoasayieldcurve.69.Whatarethreetheiesfdescribingtheshapeofthetermstructureofinterestrates(theyieldcurve)Brieflydescribeeachthey.Liquiditypremiumtheythemarketsegmentationtheythee

28、xpectationsthey.Theliquiditypremiumtheyindicatesthatlongtermratesshouldbehigherthanshttermrates.Thispremiumoflongtermratesovershttermratesexistsbecauseshttermsecuritieshavegreaterliquiditytherefehigherrateshavetobeoffere

29、dtopotentiallongtermbondbuyertoenticethemtoholdtheselessliquidmepricesensitivesecurities.ThemarketsegmentationtheystatesthatTreasurysecuritiesaredividedintomarketsegmentsbythevariousfinancialinstitutionsinvestinginthemar

30、ket.Thechangingneedsdesiresstrategiesoftheseinveststendtostronglyinfluencethenaturerelationshipofshtlongtermrates.Theexpectationshypothesismaintainsthattheyieldsonlongtermsecuritiesareafunctionofshttermrates.Theresultoft

31、hehypothesisisthatwhenlongtermratesaremuchhigherthanshttermratesthemarketissayingthatisexpectsshttermratestorise.Converselywhenlongtermratesarelowerthanshttermratesthemarketisexpectingshttermratestofall.610.Sincethedle19

32、60scpateliquidityhasbeendeclining.WhatreasonscanyougivefthistrendThedecreaseisliquiditycanbetracedinparttomeefficientinventymanagementsuchasjustintimeinventypointofsalesterminalsthatprovidebetterinventycontrol.Thedecline

33、inwkingcapitalcanalsobeattributedtoelectroniccashflowtransfersystemstheabilitytosellaccountsreceivablesthroughsecuritizationofassets(thisismefullyexplainedinthenextchapter).Itmightalsobethatmanagementissimplywillingtotak