[{"data":1,"prerenderedAt":43},["ShallowReactive",2],{"q-sitca_invest-115-2-049":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-115-2-049","115-2",49,"下列何者是在學理上採用租賃較佳的理由？",[13,14,15,16],"租賃可增加每股盈餘","租賃可以避免資本支出的限制","租賃可提供百分之百的融資並保留資本","租賃可以讓邊際稅率較低的公司「出售」其折舊稅盾",3,"貨幣時間價值與利率",1,"學理上租賃的真正利益來自租稅套利。折舊稅盾對邊際稅率高的企業較值錢,稅率偏低甚至虧損的公司自行購置資產,折舊抵稅幾乎沒有效果;改採租賃,由稅率較高的出租人持有資產、享用折舊稅盾,再以較低的租金把部分好處回饋給承租人,等於把自己用不到的稅盾「賣」出去,雙方共同創造價值,(D) 正確。(A) 每股盈餘受會計處理方式影響,並未改變資產所產生的現金流量,不構成學理上的理由。(B) 規避資本支出限制是繞過內部管控,並非價值創造。(C) 全額融資只是改變付款義務形式,承租人仍承擔等值負債,資本並未真正保留。","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-115-2-038","在作資本預算決策時，攸關的稅率應為：",38,{"id":40,"question":41,"qno":42},"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？",48,1785904155980]