2016年美國CPA練習(xí)題精選：Business 28

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Which one of the following factors might cause a firm to increase the debt in its financial structure?

a. Increased economic uncertainty.

b. A decrease in the times interest earned ratio.

c. An increase in the price/earnings ratio.

d. An increase in the corporate income tax rate.

答案：D

Explanation

Choice "d" is correct. An increase in the corporate income tax rate might cause a firm to increase the debt in its financial structure because interest is tax deductible, while dividends are not tax deductible.

Choice "a" is incorrect. Increased economic uncertainty would cause a firm to decrease debt (and interest cost).

Choice "c" is incorrect. An increase in the price/earnings ratio would encourage the issuance of equity rather than debt.

Choice "b" is incorrect. A decrease in the times interest earned ratio indicates that earnings have declined compared with interest, and that more debt would be unwise (and more difficult to negotiate).

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