"Equity Investments":Industry and Company Analysis

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来源: 正保会计网校编辑：小鞠橘桔 2020/11/02 09:40:18　字体：大小

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Questions 1:

Which of the following statements is most accurate about recessions?

A 、If severe, the demand for products of defensive companies will eventually be adversely affected.

B 、Consumers are more likely to defer purchases of products of defensive companies than of cyclical companies.

C、 Non-cyclical companies tend to underperform cyclical companies.

Questions 2:

A change in which of the following best describes a macroeconomic influence on industry growth?

A 、The cost of debt

B 、Personal spending habits

C、 Population size

View answer resolution

【Answer to question 1】A

【analysis】

A is correct. The impact of severe recessions usually reaches all parts of the economy and affects cyclical and defensive companies.

B is incorrect. Consumers do not tend to defer purchases from defensive companies during a recession.

C is incorrect. Cyclical companies underperform non-cyclical companies during economic recessions.

【Answer to question 2】A

【analysis】

A is correct. External factors affecting an industry’s growth include macroeconomic, technological, demographic, governmental, and social influences. A change in interest rates, or the cost of debt, is an example of a macroeconomic influence on industry growth, profitability, and risk.

C is incorrect. Changes in population size is an example of a demographic influence on industry growth, profitability, and risk.

B is incorrect. Changes in personal spending habits is an example of a social influence on industry growth, profitability, and risk.

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