[{"data":1,"prerenderedAt":46},["ShallowReactive",2],{"q-sitca_invest-115-2-037":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":22},"sitca_invest","投信投顧業務員資格測驗——證券投資與財務分析","c4",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"sitca_invest-115-2-037","115-2",37,"公司的價值等於：",[13,14,15,16],"銷貨收入減銷貨成本","現金流入減現金流出","負債加上權益的價值","有形之不動產、廠房及設備加上無形資產的價值",2,"股票評價與基本分析",1,"公司的資產由債權人與股東共同出資購置,資產所創造的價值最終也由這兩方分享,因此公司價值等於負債價值加上權益價值,(C) 正確;實務上常寫成企業價值等於股票市值加計有息負債。(A) 銷貨收入減銷貨成本只是毛利,屬單一期間的損益數字,無法代表企業整體價值。(B) 現金流入減現金流出是某期間的淨現金流量,須估算未來各期自由現金流量再折現才會成為價值,單期差額不等於價值。(D) 只加總不動產、廠房及設備與無形資產,既漏掉流動資產,也忽略了價值來自資產未來產生現金流量的能力,而非帳面成本的加總。","easy",[23,27,31,35,39,43],{"id":24,"question":25,"qno":26},"sitca_invest-114-3-005","某公司今年每股發放股利 2 元，在股利零成長的假設下，已知投資人的必要報酬率為 8%，則每股普通股的預期價值為：",5,{"id":28,"question":29,"qno":30},"sitca_invest-114-3-008","下列敘述何者「正確」？甲.股利殖利率是指股利除以股票面額；乙.對股利每年均固定成長之股票而言，其資本利得收益率等於股利成長率；丙.股票之總報酬率等於股利率加上資本利得收益率",8,{"id":32,"question":33,"qno":34},"sitca_invest-114-3-015","某公司的預期權益報酬率是 5%，若該公司的股利政策為發放 40%之現金股利，則在無外部融資假設下，其預期盈餘成長率是：",15,{"id":36,"question":37,"qno":38},"sitca_invest-114-3-023","甲公司為固定成長公司，公司盈餘每年成長 8%，若甲公司普通股股票β係數為 1.2，市場投資組合報酬率 14%，無風險利率 4%，最近剛發放股利 4 元。試估算甲公司目前的每股價格為何？",23,{"id":40,"question":41,"qno":42},"sitca_invest-115-1-006","某公司今年每股發放股利 2 元，在股利零成長的假設下，已知投資人的必要報酬率為 10%，則每股普通股的預期價值為：",9,{"id":44,"question":45,"qno":42},"sitca_invest-115-1-009","甲公司資產負債表中，有 650 萬元之資產，350 萬元之負債，假設甲公司股票流通在外股數為 10 萬股，且目前股票市價為 90 元，請問該公司股票之市價淨值比為：",1785904155850]