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每日一练丨ACCA F9《财务管理》精选题Business Finance
2017-04-06
摘要今天给大家带来的每日一练，是来自 ACCA F9《财务管理》精选题 Business Finance ，记得做完在下拉看答案哦~ Question： Which of the following is not a valid reason why the directors of a company might decide to retain earnings rather than pay them out as dividends? A.Retention of earnings avoids the possibility of a change in control resulting from an issue of new shares B.Finance from retained earnings has no cost as a source of finance. C.The shareholders generally wish to make a capital profit D.Retention of earnings allows the directors to undertake investment projects without involving the shareholders The correct answer is: B 解析：Finance from retained earnings has the same cost as the rest of the equity capital.However their use does not incur transaction costs. If the shareholders wish to make a capital profit(2)then they will prefer their income in the form of capital growth rather than dividends.Thus they will be in favour of the company operating a policy of high retentions. Since no change is made to the structure of t
今天给大家带来的每日一练，是来自ACCA F9《财务管理》精选题Business Finance，记得做完在下拉看答案哦~
Question：
Which of the following is not a valid reason why the directors of a company might decide to retain earnings rather than pay them out as dividends?
A.Retention of earnings avoids the possibility of a change in control resulting from an issue of new shares
B.Finance from retained earnings has no cost as a source of finance.
C.The shareholders generally wish to make a capital profit
D.Retention of earnings allows the directors to undertake investment projects without involving the shareholders
The correct answer is:B
解析：Finance from retained earnings has the same cost as the rest of the equity capital.However their use does not incur transaction costs.
If the shareholders wish to make a capital profit(2)then they will prefer their income in the form of capital growth rather than dividends.Thus they will be in favour of the company operating a policy of high retentions.
Since no change is made to the structure of the ownership of the business,the use of retentions(3)does avoid the possibility of a change in control.
4 is a valid reason.In this situation the directors will not have to go to the general meeting to obtain permission for a further capital issue to finance new projects.The use of retained earnings therefore allows them greater autonomy in their decisions.
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