Part i. Economic fundamentals
Chapter 1 macroeconomics foundation
1. Four main causes of market failures
2. National income accounting
3. Macro-four goals: full employment, price stability, economic growth, balance of payments
4. Total supply demand ad is tilted downwards to the right; short-term as is tilted upward, long-term as is vertical; inflation is demand driven, cost driven
Questions accompanying this chapter
The following are pure public goods。
Public schools b. Defence c. Urban parks d. Highway
"b."
[discussion] pure public goods meet non-competitive, non-exclusive; schools, parks, high-speed congestion/use thresholds are quasi-public goods。
The economic effects of plant sewage and government regulation are (...)。
A. Positive externality, government subsidies b. Negative externality, government taxation c. Positive externality, government subsidies d. Negative externality, government subsidies
"b."
[disarmament] of pollution increases the environmental costs of society as a whole and is negative externalities; taxes increase the cost of pollution in enterprises and reduce sewage output。
The correct formula for accounting for GDP is (...)。
GDP =c+i+g+x-mb. GDP =c+i+g+m-x c. GDP = wages + interest + rent d. GDP = total output - intermediate products
Answer a
The core of the [decomposition] expenditure method is consumption + investment + government purchases + net exports (exports - imports); c for revenue, d for production。
The second-hand car market is poor, and the high-quality car market is crowded in。
C. Externality d. Incomplete competition
"b."
The reverse choice is the retention of poor quality goods as a result of poor pre-trading information; the moral hazard is that the other party is harmed by the end of the transaction。
A large number of workers were unemployed during the great depression (...)。
B. Structural unemployment c. Cyclical unemployment d. Seasonal unemployment
Answer c
[discussion] cyclical unemployment results from a downturn in the economic cycle; friction is normal job change, with the structure being industrial technology phase-out and seasonal trade fluctuations。
Chapter ii fiscal policy and monetary policy [core points echoed]
Core fiscal revenues: tax revenues (mandatory, non-reimbursable, fixed); expenditure in two categories
2. Fiscal policy expansion (recession): tax cuts, increases, increases in public debt; austerity (inflation overheating): tax increases, reductions, reduction of public debt automatic stabilizers: progressive income tax, transfer payments without artificial adjustments to self-balancing economic volatility
Currency level
M0 = cash in cash in circulation; m1 = m0 + demand deposits of enterprises (narrow currency, transaction purpose); m2 = m1 + term savings deposits (broad currency)
Three main monetary policy instruments: statutory deposit reserve rate, rediscount rate, open market operations (most commonly used)
Easier currency: reduced allowances, reduced interest rates, purchase of bonds for investment
Austerity currency: upscaling, upscaling, selling bonds for recovery
4. Policy mix: double expansion to deal with severe recessions, double austerity to deal with severe inflation, loosely regulated stagnation, structural imbalances in the economy
Questions accompanying this chapter
The following are government transfers。
Construction of roads b. Payment of subsistence allowance c. Payment of civil service salaries d. Procurement of office equipment
"b."
[discussed] transfer expenditures are not trade-for-commodity, but transfer funds only at no cost; acds are all purchase expenditures。
The expansionary fiscal policy applied during the economic downturn is (...)。
B. Reducing capital expenditures
Answer c
[assisting] the increase in government debt expands government investment and boosts aggregate demand; raising taxes, reducing spending and reducing subsidies are austerity policies。
Broad currency m2 does not include()。
C. Term deposits of residents
Answer d
[ad] m2 counts only all types of deposits and cash in circulation, and the national debt is a marketable security and is not counted at the monetary level。
The central bank's operation to tighten market liquidity is (...)。
B. Purchase of marketable securities
Answer c
[discussion] increases the rediscount rate, increases the cost of commercial banks financing central banks, shrinks lending and reduces market currencies; the remaining three operate loosely。
Is a financial stabilizer。
C. Government-specific infrastructure d. Central bank open market operations
"b."
[disarmament] economic boom income rises automatically overtaxed, depressed income falls automatically less taxed and no new deal is needed; d is a monetary policy instrument。
Part ii finance
Chapter 3 tax theory and taxation
Tax classification: vat, excise tax; income tax: enterprise income tax, personal income tax; property tax: property tax, motor vehicle tax
2. Tax transfer: transfer to consumers is very easy; income tax, property tax is difficult to transfer; forward (to buyer), backward (upstream supplier)
Value added tax (vat): general taxpayer tax collection - revenue tax collection; small taxpayer summary tax collection
4. Consumption tax: mainly in the production, commission processing and import chain; taxation in the retail chain of gold and silver jewellery, plus the wholesale chain of cigarettes
Questions accompanying this chapter
The following taxes are trans-taxed。
B. Income tax on enterprises
"b."
[discussed] the transit tax is taxed on the flow of goods, represented by vat, excise tax; ad is income tax and c is property tax。
The taxes that are most easily passed on to consumers are (...)。
B. Income tax on enterprises c. Property tax d. Deeds tax
Answer a
The value added tax is included in the sale price of the goods, and businesses can transfer the tax through price increases; income tax, property tax is levied directly on income, property and cannot be transferred。
Regular consumer tax lines are not included。
B. Retail gold and silver jewellery
Answer c
No excise tax is imposed on ordinary goods, and additional excise tax is imposed only in the case of cigarettes。
Part iii monetary finance
Chapter 4 financial system and risk [core considerations echo]
Monetary markets (terms < 1, short-term funds): co-lending, treasury bills, notes; capital markets (terms > 1, long-term financing): stocks, medium- and long-term bonds
2. Financial risk: credit risk (borrower default), market risk (exchange rate fluctuations), liquidity risk, operating risk
3. Exchange rates are priced using the direct pricing method: 1 foreign currency = several renminbis; exchange rate values rise in exchange for higher foreign currency costs and devaluation of the local currency; indirect pricing: 1 local currency to foreign currency
Questions accompanying this chapter
The following are the currency market instruments。
A. 3 annual corporate bonds
Answer c
Within 1 year of the term of the currency market instrument, inter-bank lending is short-term; equities, medium- and long-term bonds are capital markets。
The borrower is unable to repay the loan as it matures。
B. Credit risk c. Liquidity risk d. Operational risk
"b."
[discussed] core definition of credit risk: losses caused by the inability of a trading counterparty to pay its debts on time。
We use the direct pricing method, so that the value of the exchange rate becomes significant ()。
B. Depreciation of foreign currencies c. Depreciation of the renminbi d. Decline in domestic and foreign currency supply
Answer c
The direct pricing figures have risen, representing the purchase of 1 unit of foreign currency requiring more renminbi, the devaluation of the renminbi and the appreciation of the foreign currency。
Part iv corporate financial accounting (highest value)
Chapter 5 liquid assets
First-in-first-out method of valuation of inventory: low carry-over cost, high end-of-cycle inventory value, high current-period profit at the time of price escalation; simplified accounting with a weighted average method at the end of the month
Impairment of accounts receivable: allowance for bad debts, debit item: loss of credit impairment; entry: debit: loss of credit impairment
3. Transactional financial assets: transactional fees at the time of purchase are charged to investment income; fair-value fluctuations are charged to fair-value movement gains and losses and sales carry-over investment income
Questions accompanying this chapter
The first-in-first-out method occurs when prices continue to rise。
B. High current operating costs
Answer c
[disarmament] first priority roll-over of early low-priced inventory, low operating costs, higher profits, higher income tax and higher book value of inventory at the end of the period。
Enterprises are prepared to write off accounts receivable and the debit account is ( )。
C. Loss of impairment of assets
"b."
[discussed] impairment of receivables is accounted for by impairment of credit; impairment of fixed and intangible assets by impairment of assets。
The purchase of shares is recorded as a transactional financial asset and the transaction fees paid are charged。
Cost of transactional financial assets
Answer c
[discussed] transaction costs for transactional financial assets are not included in the initial recorded costs and directly offset investment returns。
We need to practice with more knowledge points and test points, and we can search
Chapter vi non-current assets, liabilities, income, financial statements [core points echoed]
1. Depreciation of fixed assets: an increase of the month and a reduction of the normal month for the month; non-depreciation of land depreciation: equilibrium depreciation (annual average, workload method); accelerated depreciation (multiple depreciation, sum of years, excess prior period depreciation)
2. Remuneration due to employees: wages, social security, welfare, union funds are accounted for in full through this subject
3. Five-step approach to revenue recognition: recognition of revenue after performance of contract identification of performance obligations and determination of transaction price
Statement distinction: balance sheet (time statement), profit statement (period statement)
5. Cash flow categories: operating activities (sale, procurement), investment activities (purchase of fixed assets, investments), financing activities (borrowing, equity, debt servicing)
Questions accompanying this chapter
When production equipment is purchased during the month, depreciation starts ()。
A. Month b. Next month c. Late year d. Month of disposal
"b."
[decomposition of] depreciation rules for fixed assets: a new depreciation rate is added for the month in question and charged for the month in question。
The cash flows listed below are for financing activities。
B. Payments for the acquisition of fixed assets
Answer c
[disarmament] loans, stock issues, debt repayments are fund-raising; sales, rents are business activities; and equipment purchases are investment activities。
(multiple selection) for accelerated depreciation of fixed assets。
B. Double-balance reduction c. Sum-of-year method d. Workload method
Bc
[decomposition] double-declining balances, combined years-digits depreciation prior period amounts are higher and are accelerated depreciation; the remaining two are flat depreciation。
Part v. Law
Chapter 7. Corporate law, civil code, paper law, administrative sanctions
Corporate liability: shareholders of limited liability companies are held liable to the extent that they contribute; shareholders are held liable to the extent that they subscribe to shares accountability
2. Contract down payment: the amount of the down payment shall not exceed 20 per cent of the total contract price; breach of contract by the party receiving the down payment requires double return of the down payment
3. Instrument alert period: cheques 10 days, bank promissory notes 2 months, money orders 1 month
4. Administrative penalties: warnings, fines, confiscations, suspensions, revocations of permits; detention, fines, prison sentences are criminal and not administrative penalties
Questions accompanying this chapter
The contract down payment is up to the amount for which the contract was established (...)。
A. 10% b. 20% c. 30% d. 50%
"b."
The civil code specifies a ceiling of 20 per cent, and the excess is not effective as a deposit guarantee。
Cheques are issued within a maximum period of time from the date of issue (...)。
A. 5 b. 10 c 1 month d 2 months
"b."
[discretion] cheques 10 days; bank promissory notes 2 months; money orders 1 month。
The following are administrative penalties。
A. Detention b. Fine c. Fine d. Imprisonment
Answer c
[discussion] detention, fines and imprisonment are criminal penalties under the penal code; fines are administrative penalties imposed by administrative authorities。
