[{"data":1,"prerenderedAt":43},["ShallowReactive",2],{"q-sitca_invest-115-2-038":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","c2",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"sitca_invest-115-2-038","115-2",38,"在作資本預算決策時，攸關的稅率應為：",[13,14,15,16],"公司預期的邊際稅率","以前年度之稅率","稅法中最高的稅率","公司預期的平均稅率",0,"貨幣時間價值與利率",1,"資本預算問的是「多做這項計畫會多繳多少稅」,屬於增額分析,因此攸關稅率是計畫新增所得所適用的稅率,也就是公司預期的邊際稅率,(A) 正確;折舊稅盾與利息稅盾的金額都要用邊際稅率計算才不會失真。(B) 以前年度稅率反映過去的稅法與獲利結構,屬歷史資訊,對未來決策不攸關。(C) 稅法中最高稅率只有在公司獲利確實落在最高級距時才等於邊際稅率,逕予套用會高估稅負、低估計畫價值。(D) 平均稅率是總稅額除以總所得,混合了各級距與各項減免的效果,通常低於邊際稅率,用它評估增額現金流量會系統性高估稅後利益。","medium",[23,27,31,35,39],{"id":24,"question":25,"qno":26},"sitca_invest-114-3-022","理論上，證券價格的變動和利率的變動之間的關係為：",22,{"id":28,"question":29,"qno":30},"sitca_invest-115-2-008","投資人承作 20 天期附買回交易，利率為 1%，成交金額 1,000,000 元，扣繳稅率為 10%，則 20天後附條件交易到期金額為：",8,{"id":32,"question":33,"qno":34},"sitca_invest-115-2-036","如果經理人員要深入瞭解屬下所提出淨現值為正的投資計畫，則最應：",36,{"id":36,"question":37,"qno":38},"sitca_invest-115-2-048","關於投資計畫投資成本之決定，下列何者不正確？",48,{"id":40,"question":41,"qno":42},"sitca_invest-115-2-049","下列何者是在學理上採用租賃較佳的理由？",49,1785904155860]