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Modulul 3 -*HVWLXQHDILQDQFLDU

SHWHUPHQVFXUW

TES TE D E
A U TO EV A LU A RE
CAPITOLUL 8. Gestiunea ciclului de exploatare
1. Gestiunea ciclului de exploatare poate avea drept obiective:
a. FHDPDLHILFLHQW DORFDUHDFDSLWDOXOXLvQVWRFXULLFUHDQ HvQFRQGL LLGHGLPLQXDUHDULVcului;
b. DUPRQL]DUHDUHOD LHLUHQWDELOLWDWH-ULVFVHUHDOL]HD] vQFHDPDLPDUHSDUWHvQFDGUXOHFKLOLEUXOXL
GLQWUHQHFHVDUXOGHDFWLYHFLUFXODQWHLVXUVHOHPRELOL]DELOHSHQWUXILQDQ DUHDDFHVWXLD

c.

SHQWUX D U VSXQGH QHYRLL GH UHQWDELOLWDWH JHVWLXQHD DFWLYHORU FLUFXODQWH XUP UHWH

realizarea ciclului de exploatare cu un nivel minim de active circulante;


d.

SHQWUXDU VSXQGH QHYRLLGHGLPLQXDUHDULVFXOXLJHVWLXQHD DFWLYHORUFLUFXODQWH XUP UHWH


HOLPLQDUHD UXSWXULL GH VWRF D OLSVHL GH OLFKLGLW
FRVWXULORUGHH[SORDWDUHLGHGLPLQXDUHDUHQWDELOLW

e.

UHGXFHUHD FDSLWDOXULORU DORFDWH vQ VROGXO FOLHQ LORU VDX SUHOXQJLUHD GXUDWHL GH

acordare a creditelor-FOLHQ
,QGLFD LYDULDQWDGHU

2.

L

VSXQVIDOV

$YkQGvQYHGHUHFHULQ HOHRSWLPL]

ULLUHOD LHLUHQWDELOLWDWH

FLFOXOXLGHH[SORDWDUHFXSULQGHGRX

a.
b.
c.

L SUHRFXSDUH vQVR LW  GH FUHWHUHD


LL

-risc, n mod concret gestiunea

FRPSOHPHQWDUHGHDFWLYLWDWH

GHWHUPLQDUHDQHFHVDUXOXLGHDFWLYHFLUFXODQWHLGHWHUPLQDUHDIRQGXOXLGHUXOPHQW
GHWHUPLQDUHDYROXPXOXLGHFUHDQ HLGHWHUPLQDUHDPRGDOLW

LLGHILQDQ DUHDQHFHVDUXOXLGHDFWLYHFLUFXODQWH

GHWHUPLQDUHD QHFHVDUXOXL GH DFWLYH FLUFXODQWH L GHWHUPLQDUHD PRGDOLW

LL GH

ILQDQ DUHDQHFHVDUXOXLGHDFWLYHFLUFXODQWH

d.

GHWHUPLQDUHD

YROXPXOXL

GH

OLFKLGLW

L

L

GHWHUPLQDUHD

PRGDOLW

LL

GH

ILQDQ DUH

D

necesarului de active circulante;


e.

GHWHUPLQDUHDQHFHVDUXOXLGHDFWLYHFLUFXODQWHLGHWHUPLQDUHDPRGDOLW LLGHILQDQ DUHDGDWRULLORUGHH[SORDWDUH

,QGLFD LYDULDQWDGHU

VSXQVFRUHFW

3. Se pot identifica mai multe politici de gestiune a ciclului de exploatare cu efecte diferite
DVXSUDUHQWDELOLW

a.
b.

LLLDULVFXOXL

RSROLWLF DJUHVLY FDUHvLSURSXQHUHDOL]DUHDXQHLFLIUHGHDIDFHULFXVWRFXULPLQLPH


R SROLWLF  DJUHVLY  vQFDGUXO F UHLD UHQWDELOLWDWHD ULGLFDW  LQWHQ LRQDW  SULQDFHDVW  SROLWLF 
HVWH vQVR LW  GH ULVFXUL PDUL OHJDWH GH OLSVD GH VWRF GH OLSVD GH OLFKLGLW

L L GH

insolvabilitatea ntreprinderii;
c.
d.

RSROLWLF GHIHQVLY FDUHvLSURSXQHUHDOL]DUHDXQHLFLIUHGHDIDFHULFXVWRFXULLOLFKLGLW

,QGLFD LYDULDQWDGHU

4.

LUHGXVH

RSROLWLF HFKLOLEUDW  LQWHUPHGLDU FDUHDUPRQL]HD] UHOD LDFRQWUDGLFWRULHGLQWUHUHQWDELOLWDWHLULVF


VSXQVIDOV

QFHHDFHSULYHWHILQDQ DUHDDFWLYHORUFLUFXODQWHvQFDGUXOJHVWLXQLLFLFOXOXLGHH[SORDWDUH
SXWHPvQWkOQLXUP

WRDUHOHLSRWH]H

a. ntr-o politic DJUHVLY DFFHQWXOFDGHvQSULQFLSDOSHSDVLYHOHSH WHUPHQ VFXUW FDUHDXFHOH


mai mici costuri de procurare a lor;
b. ntr-R SROLWLF  DJUHVLY  DFFHQWXO FDGH vQ SULQFLSDO SH SDVLYHOH SH WHUPHQ VFXUW FDUH
GHWHUPLQ L RSUHRFXSDUHVWUHVDQW GHD UHvQQRLFUHGLWele pe termen scurt, la dobnzi mai
mari sau chiar riscul unei lipse de capital;
c. SROLWLFD GHIHQVLY  DUH vQ YHGHUH ILQDQ DUHD DFWLYHORU FLUFXODQWH vQ SULQFLSDO GLQ VXUVH
SHUPDQHQWH FDUH DX FRVWXUL GH SURFXSDUH PXOW PDL PDUL GDU L R DFRSHULUH VXILFLHQW 

mpRWULYDULVFXOXLGHUHvQQRLUHDFUHGLWHORULDFUHWHULLUDWHLGREkQ]LL
d.

RSROLWLF QHXWU FRQVW vQVLQFURQL]DUHDSHUIHFW GLQWUHVFDGHQ HOHDFWLYHORULSDVLYHORUSH

termen scurt;
e.

RSROLWLF

QHXWU

termen scurt.

FRQVW

vQQHVLQFURQL]DUHDGLQWUHVFDGHQ HOHDFWLYHORUL

pasivelor pe

Modulul 3 -*HVWLXQHDILQDQFLDU
5.

6WRFXULOHSUH]LQW

a.

XUP

UHSUH]LQW FDQWLW

SHWHUPHQVFXUW

WRDUHOHFDUDFWHULVWLFL

LOHIL]LFHGHPDWHULDOHGHSURGXVHVDXGHP UIXULQHFHVDUHILHF UHLID]HD

FLFOXOXL GH H[SORDWDUH SHQWUX D DVLJXUD GHVI XUDUHD FRQWLQX   L ULWPLF  D FLFOXOXL

de

exploatare;
b.

GLQSXQFWGHYHGHUHILQDQFLDUVWRFXULOHUHSUH]LQW DORF ULGHFDSLWDOFHQXSRWILUHFXSHUDWH


SkQ  FkQG DFHVWH VWRFXUL QX SDUFXUJ vQWUHJXO FLFOX GH H[SORDWDUH L VXQW YDORULILFDWH SULQ
YkQ]DUHDLvQFDVDUHDSURGXVHORUOXFU ULORUVDXVHUYLFLL

c.

JHVWLXQHD  PRGHUQ
QHFHVLW

 D VWRFXULORU FRQVLGHU

LOHUH]RQDELOHDOHH[SORDW

lor realizate de ntreprindere;

 HILFLHQW

 IRUPDUHD GH VWRFXUL PDUL SHVWH

ULL

d. cheltuielile suplimentare inutile n gestiunea stocurilor pot rezulta att stocuri insuficiente
ct LVWRFXULH[FHVLYH
e. P ULPHD RSWLP  D VWRFXULORU HVWH FHD FDUH DUPRQL]HD]  UHOD LD FRQWUDGLFWRULH GLQWUH
FKHOWXLHOLOHGHDSURYL]LRQDUHFDUHYDULD] vQIXQF LHGHQXP UXOGHDSURYL]LRQ ULLFHOHGH
GHSR]LWDUHYDULDELOHvQUDSRUWFXP ULPHDVWRFXULORU

IndiFD LYDULDQWDGHU
6.

VSXQVIDOV

(YROX LDFKHOWXLHOLORUFXIRUPDUHDVWRFXULORUvQUDSRUWFXQXP
SRDWHUHSUH]HQWDJUDILFvQPRGXOXUP

a.

Chelt.min.

UXOGHDSURYL]LRQ

WRU

CT
Ca
Cd
Nr. aproviz

b. Chelt. min.
Cd
Ca
CT
Nr. aproviz

c.

Chelt.min.
CT
Cd

Ca
Nr. aproviz

ULVH

Modulul 3 -*HVWLXQHDILQDQFLDU
d.
Chelt.min.

SHWHUPHQVFXUW

CT
Ca
Cd
Nr. aproviz

e.

Chelt.min.
Cd
Ca

CT
Nr. aproviz
unde: CT cheltuieli totale;
Cd cheltuieli de depozitare;
Ca cheltuieli de aprovizonare.
7. Cheltuieli de aprovizionare sunt ocazionate de:
a. VWXGLXOSLH HL
b. valoarea nevoii de fond de rulment;
c. GHSODVDUHDVDODULD LORUSHQWUXDSURYL]LRQ UL
d. ntocmirea documentelor de aprovizionare;
e. vQWRFPLUHDGRFXPHQWHORUGHFRQWURODOP UIXULORU
,QGLFD LYDULDQWDGHU

8.

VSXQVIDOV

&KHOWXLHOLOHGHGHSR]LWDUH QXPLWHLGHDQWUHSR]LWDUH VXQWRFD]LRQDWHGH

a.
b.
c.
d.
e.

transportul stocurilor;
depozitarea stocurilor;
GHJUDGDUHDLGHWHULRUDUHDVWRFXULORU

aQDOL]DHDQWLRDQHORU
costul capitalului necesar pentru procurarea lor.
,QGLFD LYDULDQWDGHU

VSXQVIDOV

9. Modelul Wilson-:KLWLQFDUHRSWLPL]HD]
XUP

WRDUH

a. S = 2 N Pa /(ca cd) ;
b. S = 2 ca cd /( N pa ) ;
c. S = 2 N ca/(pa cd) ;
d. S = pa cd /(2 N ca ) ;
e. S = 2 N cd /(ca cd ) ,

VWRFXULOHVHED]HD]

SHUHOD LDGHFDOFXO

Modulul 3 -*HVWLXQHDILQDQFLDU

SHWHUPHQVFXUW

unde: S P ULPHDRSWLP DVWRFXOXL


N necesarul anual din materialul, produsul sau marfa de aprovizionat;
ca FRVWXOIL[XQLWDUSHQWUXSUHJ WLUHDXQHLQRLDSURYL]LRQ UL
pa SUH Xl unitar de aprovizionare;
cd costul de depozitare pe unitatea de stoc.
10. *HVWLXQHDVWRFXULORUvQVLWXD LLGHLQFHUWLWXGLQHSUH]LQW XUP WRDUHOHFDUDFWHULVWLFL
a. R SROLWLF  SUXGHQW  GH DYHUVLXQH ID  GH ULVF YD GHWHUPLQD FRQVWLWXLUHD XQXL VWRF GH
VLJXUDQ
suficient de acoperitor pentru ruptura de stoc curent n cazuri de ntrziere a
DSURYL]LRQ ULL

b.

vQ FD]XO XQHL SROLWLFL GHIHQVLYH VH vQUHJLVWUHD]  vQV  FRVWXUL PDUL GH GHSR]LWDUH L GH
RSRUWXQLWDWHFXVWRFXULH[FHVLYHSHVWHQHYRLOHFXUHQWHDOHH[SORDW UL

c.

RSROLWLF DJUHVLY LQGLIHUHQW ID


VLJXUDQ

i;

GHULVFYDFRQGXFHODGHWHUPLQDUHDXQXLVWRFPHGLXGH

FDPHGLHDULWPHWLF DVWRFXULORUGH VLJXUDQ

FRUHVSXQ] WRDUHILHF UHL VLWXD LLGH

vQWkU]LHUHDDSURYL]LRQ ULL

d.

R SROLWLF

 PDL UHDOLVW

 DU IL FHD FDUH

SROLWLFLOHDQWHULRDUH SUXGHQW

e.

ar minimiza costurile ocazionate de fiecare din

GHIHQVLY

DJUHVLY

HWF 

R SROLWLF  PDL UHDOLVW  DU IL FHD FDUH DU RSWLPL]D FRVWXULOH RFD]LRQDWH GH ILHFDUH GLQ
SROLWLFLOHDQWHULRDUH SUXGHQW GHIHQVLY DJUHVLY HWF 

IQGLFD LYDULDQWDGHU

VSXQVIDOV

11. ,QWHUYDOXOPHGLXGLQWUHDSURYL]LRQ
XUP

ULOHFRQVHFXWLYHYDGHWHUPLQDFXDMXWRUXOUHOD LHL

WRDUH

a. i = qi / qi ti ;

b. i = qi /( ti qi ti) ;

c. i = ( qi ti) / ti ;

d. i = ( qi ti)/ qi ;

e. i = ti / qi ti .
unde: i LQWHUYDOXOGLQWUHDSURYL]LRQ ULFRQVHFXWLYH
qi FDQWLW LOHYDULDELOHFHVHDSURYL]LRQHD] 
ti intervalele de aproximare.
12. 6WRFXOFXUHQWPHGLXVHGHWHUPLQ FXDMXWRUXOUHOD
a. Scrt = (N/360) i ;
b. Scrt = 360 /( N i) ;
c. Scrt = i 360 / N ;
d. Scrt = 360 N / i ;
e. Scrt = 360 N i .
unde: Scrt stocul curent mediu;
N QHFHVDUXOGHDSURYL]LRQ UL
I LQWHUYDOXOPHGLXvQWUHDSURYL]LRQ UL
13. ,QWHUYDOXO PHGLX GH DEDWHUH ID
UHOD LHLXUP

WRDUH

a. S = qi / qi ta ;

b. S = qi ta/ qi ;

c. S = ta qi / ta ;

d. S = ta /( qi ta ) ;

e. S = qi /(qi qi ta ) .

LHLXUP

WRDUH

 GH LQWHUYDOHOH FRQWUDFWXDOH VH GHWHUPLQ

 FX DMXWRUXO

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


unde: S LQWHUYDOXOPHGLXGHDEDWHUHID GHLQWHUYDOHOHFRQWUDFWXDOH
ta zilele de ntrziere;
qi FDQWLW LDSURYL]LRQDWHODWHUPHQHOHvQWkU]LDWH
14. 6WRFXULOHGHVLJXUDQ VHGHWHUPLQ FXDMXWRUXOXUP WRDUHLUHOD LL
a. Ssig = N /(S 360) ;
b. Ssig = S /( N 360) ;
c. Ssig = S N/360 ;
d. Ssig = (360 N) / S ;
e. Ssig = (360 S) / N ,
unde: Ssig VWRFXOGHVLJXUDQ 
N
- necesarul;
S
-LQWHUYDOXOPHGLXGHDEDWHUHID GHLQWHUYDOHOHFRQWUDFWXDOH
15. 2 VWUDWHJLH HILFLHQW  GH JHVWLXQH D VWRFXULORU D IRVW IXQGDPHQWDW  GH PHWRGD $%& FDUH
mparte stocurile de active circulante n trei grupe, acestea fiind:
a. JUXSD $ DUWLFROH GH DFWLYH FLUFXODQWH GH YDORDUH PDUH SH XQLWDWHD GH P VXU  GDU FX
SRQGHUHPLF vQQXP UXOWRWDOGHDUWLFROH

b.

JUXSD$DUWLFROHGH DFWLYHFLUFXODQWH GHYDORDUH PLF


SRQGHUHPLF

c.

vQQXP

SHXQLWDWHD GH P

VXU

GDU FX

UX

l total de articole;

JUXSD % DUWLFROH GH DFWLYH FLUFXODQWH GH YDORDUH PHGLH L FX SRQGHUH PHGLH vQ QXP UXO

total de articole;
d.

JUXSD & DUWLFROH GH YDORDUH PLF  SH XQLWDWHD GH P VXU  FX SRQGHUH ULGLFDW  vQ QXP UXO

total de articole.
,QGLFD LYDULDQWDGHU

VSXQVIDOV

16. Metoda ABC de gestiune a stocurilor permite:


a. R XUP ULUH GHWDOLDW  D VWRFXULORU GLQ JUXSHOH $ % L R GHWHUPLQDUH D P

ULPLL PDWHPDWLFH

RSWLPH D DFHVWRUD DVWIHO FD QHFHVDUXO GH FDSLWDOXUL SHQWUX IRUPDUHD L S VWUDUHD ORU V  ILH

minim;
b. pentru stocXULOHGLQJUXSHOH$%VHMXVWLILF

IRORVLUHDPHWRGHORUDQDOLWLFHIXQGDPHQWDOHD

QHYRLLGHILQDQ DUHSHWLSXULGHVWRFXUL

c.

SHQWUX

VWRFXULOH

GLQ

JUXSHOH

$

%

VH

MXVWLILF 

IRORVLUHD

IXQGDPHQWDUHDQHYRLLGHILQDQ DUHSHHOHPHQWHFRPSRQ

d.

PHWRGHORU

DQDOLWLFH

GH

ente nominalizate;

R XUP ULUH JOREDO  D VWRFXULORU GLQ JUXSD & FDUH VH YRU DSURYL]LRQD vQ ORWXUL PDUL SHQWUX

perioade mari de timp pentru a reduce n acest fel cheltuielile de transport-aprovizionare;


e. R XUP ULUH LQGLYLGXDO  D VWRFXULORU GLQ JUXSD & FDUH VH vor aproviziona n loturi
mari pentru perioade mici de timp pentru a reduce n acest fel cheltuielile de
transport-aprovizionare.
,QGLFD LYDULDQWDGHU

VSXQVIDOV

17. 1HYRLDGHILQDQ DUHDVWRFXULORUVHGHWHUPLQ FXDMXWRUXOUHOD LHLGHFDOFXOXUP


a.
Nfs = Chelt de prod anuale k/(t 360) ;
b.
Nfs = 360 k t / Chelt de prod anuale ;
c.
Nfs = Chelt de prod anuale k t/360 ;
Nfs = 360 Chelt de prod anuale /(k t) ;
d.
e.
Nfs = 360 Chelt de prod anuale k/t .
unde:
Nfs QHYRLDGHILQDQ DUHDVWRFXULORU
k
- un coeficient de conectare;
t
-LQWHUYDOXOGHWLPSGLQWUHGRX UHFRQVtituiri succesive ale stocurilor.

WRDUH

Modulul 3 -*HVWLXQHDILQDQFLDU
18. 2 vQWUHSULQGHUH VH DSURYL]LRQHD]
&DQWLWDWHDQHFHVDU

 FX PDWHULL SULPH vQ YHGHUHD IDEULF

SHWHUPHQVFXUW
ULL XQXL SURGXV

SHQWUXXQDQGH ]LOH 1  HVWHGH NJ &RVWXO SUHJ

WLULL ODQV

ULL 

unei comenzi de aprovizionare (Ca) este de 4.890 mii lei, iar costul de stocare al unui kg pe
]L HVWH GH  PLL OHL *HVWLXQHD RSWLP

 D VWRFXULORU SUHVXSXQH GHWHUPLQDUHD XUP

WRULORU

indicatori:
Stocul optim (S opt):
1) 2.233,33 kg
2) 2.133,33 kg
3) 2.333,33 kg
1XP

UXOFRPHQ]LORUGHDSURYL]LRQDUH 1UDSUR

DSURYL]LRQ

4)
5)
6)

v):

UL

DSURYL]LRQ

UL

DSURYL]LRQ

UL

,QWHUYDOXOPHGLXvQWUHGRX

DSURYL]LRQ

UL , 

7) 7,76 zile
8) 9,76 zile
9) 8,76 zile
,QGLFD LYDULDQWDGHU

a.
b.
c.
d.
e.

VSXQVFRUHFW

1+4+7
2+5+8
2+5+9
1+5+9
3+4+7

19. &RVWXO SUHJ WLULL XQHL FRPHnzi de aprovizionare (Ca) este 300 lei, iar costul de depozitare
(Cd) este de 0,3 anual pentru un leu stoc. Necesarul anual (N0 din materialul de
DSURYL]LRQDW HVWH GH  NJ OD XQ SUH  XQLWDU GH DSURYL]LRQDUH SD  GH  OHLNJ ,Q
DFHVWHFRQGL LLLQGLFDWRULLGHJHVWLXQHRSWLPLDVWRFXULORUVHGHWHUPLQ GXS FXPXUPHD]

Stocul optim
1) 999 kg
2) 1.000 kg
3) 1.100 kg
1XP

4)
5)
6)

UXOFRPHQ]LORUGHDSURYL]RQDUH
DSURYL]LRQ
DSURYL]LRQ

UL

UL

DSURYL]LRQ

UL

,QWHUYDOXOPHGLXvQWUHGRX

DSURYL]LRQ

UL

7) 4,2 zile
8) 6,2 zile
9) 3,6 zile
Costul total minim pentru formarea stocului:
10) 40.000
11) 60.000
12) 80.000
,QGLFD LYDULDQWDGHU VSXQVFRUHFW 

a.
b.
c.
d.
e.

1 + 6 + 8 + 10
1 + 5 + 9 + 11
2 + 6 + 9 + 11
2 + 4 + 7 + 10
3 + 6 + 8 + 12

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


20. &RVWXO SUHJ WLULL XQHL FRPHQ]L GH DSURvizionare (Ca) este de 699 lei, iar costul de
depozitare de 0,699 lei anual pentru un leu stoc. Necesarul anual (N) din materialul de
DSURYL]LRQDW HVWH GH  NJ OD XQ SUH  XQLWDU GH DSURYL]LRQDUH SD  GH  OHLNJ ,Q
DFHVWHFRQGL LLLQGLFDWRULLGHJHVWLXQHRSWLP

DVWRFXULORUDXXUP

WRDUHOHYDORUL

Stocul optim:
1) 2.000 kg
2) 1.000 kg
3) 1.500 kg
1XP

UXOGHFRPHQ]LGHDSURYL]LRQDUH

4)
5)
6)

DSURYL]LRQ

UL

DSURYL]LRQ

UL

DSURYL]LRQ

UL

,QWHUYDOXOPHGLXvQWUHGRX

DSURYL]LRQ

UL

7) 0,54 zile
8) 1,54 zile
9) 3,54 zile
Costul total minim pentru formarea acestui stoc:
10) 325.734
11) 135.000
12) 250.000
,QGLFD LYDULDQWDGHU

a.
b.
c.
d.
e.

VSXQVDGHY

UDW

2 + 5 + 7 + 11
1 + 6 + 8 + 10
3 + 6 + 7 + 10
2 + 6 + 8 + 10
2 + 4 + 9 + 12

21. &RVWXO SUHJ WLULL XQHL FRPHQ]L GH DSURYL]LRQDUH &D  HVWH GH  Oei, iar costul de
depozitare (cd) de 0,450 lei anual pentru un leu stoc. Necesarul anual (N) din materialul de
DSURYL]LRQDW HVWH GH  NJ OD XQ SUH  XQLWDU GH DSURYL]LRQDUH GH  OHLNJ SD  Q
DFHVWHFRQGL LLLQGLFDWRULLGHJHVWLXQHRSWLP

DVWRFXULORUYRUDYHDXUP

Stocul optim
1) 1.000 kg
2) 2.000 kg
3) 3.000 kg
1XP

UXOFRPHQ]LORUGHDSURYL]LRQDUH

4)
5)
6)

DSURYL]LRQ

UL

DSURYL]LRQ

UL

DSURYL]LRQ

UL

,QWHUYDOXOPHGLXvQWUHGRX

DSURYL]LRQ

UL

7) 1,2 zile
8) 2,1 zile
9) 2,4 zile
Costul total minim pentru formarea acestui stoc:
10) 125.000 lei
11) 135.000 lei
12) 140.000 lei
,QGLFD LYDULDQWDGHU

a.
b.
c.
d.
e.

VSXQVDGHY

2 + 6 + 8 + 10
3 + 5 + 9 + 11
1 + 4 + 8 + 12
1 + 5 + 9 + 11
1 + 6 + 9 + 11

UDW

WRDUHOHYDORUL

Modulul 3 -*HVWLXQHDILQDQFLDU
22. 2vQWUHSULQGHUHIDEULF

URER L(DVHFDUDFWHUL]HD]

ULDQXDOHXQLW

YkQ]

SHWHUPHQVFXUW

SULQ

cost de stocaj: 15% din valoarea stocurilor


SUH XOGHFXPS

UDUHXQLWDUDOVWRFXOXL

FRVWXULIL[HDOHILHF

UHLFRPHQ]L

ULPHDFRPHQ]LLRSWLPDOHVHULGLF

a.
b.
c.
d.
e.

XQLW

L

XQLW

L

XQLW
XQLW





OD

L
L

XQLW

L

23. 0 ULPHDRSWLP DVWRFXULORUHVWHDFHHDFDUHGHWHUPLQ 


a. minimizarea cheltuielilor de transport-aprovizionare;
b. minimizarea cheltuielilor de depozitare-stocare;
c. PLQLPL]DUHDFKHOWXLHOLORUWRWDOHFXSURFXUDUHDLS VWUDUHDVWRFXULORU
d. eliminarea stocurilor de siguraQ 
e. HOLPLQDUHDVWRFXULORUGHFRQGL LRQDUHLGHWUDQVSRUWLQWHULRU
24. 2

SROLWLF

 DJUHVLY

 GH JHVWLXQH D FLFOXOXL GH H[SORDWDUH HVWH DFHHD FDUH L SURSXQH

UHDOL]DUHDXQHLFLIUHGHDIDFHULVFRQWDWHFXVWRFXULLFUHDQ H

a.
b.
c.
d.
e.

mai mari;
mai mici;
vQP ULPLPHGLL

cXURWD LHOHQW 
supranormative.

25. Gestionarea activelor circulante printr-RSROLWLF DJUHVLY SUHVXSXQH


a. ILQDQ DUHDDFWLYHORUGHH[SORDWDUHQXPDLSULQQHYRLDGHIRQGGHUXOPHQW
b. RE LQHUHDXQHLFLIUHGHDIDFHULPD[LP RULFDUHDUILQLYHOXOFRVWXULORU
c. realizDUHDFLIUHLGHDIDFHULFXVWRFXULLOLFKLGLW LFkWPDLULGLFDWH
d. UHDOL]DUHDFLIUHLGHDIDFHULFXVWRFXULLOLFKLGLW LPLQLPH
e. realizarea cifrei de afaceri cu stocuri negative.
26. Stocul de active circulante pe elemente se poate dimensiona n raport cu:
a. stRFXO PHGLX SH HOHPHQWH GLQ DQXO SUHFHGHQW L FRHILFLHQWXO
GHVFUHWHUHDSURGXF LHLGLQDQXOGHSUHYL]LXQHID

b.

GH FUHWHUH VDX

GHSHULRDGDSUHFHGHQW

VWRFXO PHGLX SH HOHPHQWH GLQ DQXO SUHFHGHQW L FRHILFLHQWXO GH URWD LH DO DFWLYHORU

circulante pe elemente;
c.
d.
e.

VWRFXOSHHOHPHQWHSHDQXOSUHFHGHQWLGXUDWDFLFOXOXLGHH[SORDWDUH
SURGXF LDGLQDQXOSUHFHGHQWvQFRVWFRPSOHWLGXUDWDGHIDEULFD LHGLQDQXOGHSUHYL]LXQH
VWRFXOPHGLXSHHOHPHQWHGLQDQXOSUHFHGHQWLGXUDWDPHGLHGHvQFDVDUHDIDFWXULORU

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


CAPITOLUL 9: 'HWHUPLQDUHDQHFHVDUXOXLGHILQDQ

DUHDFLFOXOXLGHH[SORDWDUH

27. 0HWRGHOHDQDOLWLFHGHGHWHUPLQDUHDQHFHVDUXOXLGHILQDQ
SUH]LQW

XUP

DUHDFLFOXOXLGHH[SORDWDUH

WRDUHOHFDUDFWHULVWLFL

a.

SUHVXSXQ GHWHUPLQDUHD P ULPLL 1)&( SH HOHPHQWHOH GH VWRFXUL GH PDWHULL SULPH L

b.

OD ILHFDUH HOHPHQWH GH VWRF FDOFXOXO DQDOLWLF VH GHVI RDU  SH ILHFDUH PDWHULDO VDX SURGXV

PDWHULDOHGHSURGXVHvQFXUVGHSURGXVHILQLWHLGHVROGXULGHSURGXVHH[SHGLDWH
QRPLQDOL]DWLSHILHFDUHIHOGHVWRF

c. metodele analitice VH IRORVHVF QXPDL SHQWUXIXQGDPHQWDUHD QHYRLL GHILQDQ DUH vQVLWXD LL
GHPRGLILF ULVWUXFWXUDOHFRQVLGHUDELOHDOHDFWLYLW

d.

LLvQWUHSULQGHULL

PHWRGHOH DQDOLWLFH VH IRORVHVF QXPDL SHQWUX IXQGDPHQWDUHD QHYRLL GH ILQDQ DUH

trimestriale, urmnd ca pentru deWHUPLQDUHDQHYRLLGH ILQDQ


IRORVHDVF

e.

DUH PHGLHDQXDO

V

 VH

PHWRGHOHVLQWHWLFH

PHWRGHOH DQDOLWLFH VH IRORVHVF QXPDL SHQWUX IXQGDPHQWDUHD QHYRLL GH ILQDQ DUH PHGLH
DQXDO  D VWRFXULORU XUPkQG FD SHQWUX GHWHUPLQDUHD QHYRLL GH ILQDQ DUH WULPHVWULDO  V  VH

fRORVHDVF

PHWRGHOHVLQWHWLFH

,QGLFD LYDULDQWDIDOV

28. 0HWRGHOHVLQWHWLFHGHGHWHUPLQDUHD1)&(VHFDUDFWHUL]HD] SULQ


a. SUHVXSXQGHWHUPLQDUHDQHYRLLGHFDSLWDOXULFLUFXODQWHSHQWUXWRWDOXODFHVWRUDvQIXQF LHGH
LLGHH[SORDWare;
YROXPXOSODQLILFDWDODFWLYLW
b. SUHVXSXQGHWHUPLQDUHDQHYRLLGHFDSLWDOXULFLUFXODQWHSHQWUXWRWDOXODFHVWRUDvQIXQF LHGH
YLWH]DGHURWD LHvQUHJLVWUDW vQH[HUFL LXODQWHULRU

c. VHIRORVHVFFXIRDUWHEXQHUH]XOWDWHvQSHULRDGHOHGHLQVWDELOLWDWHHFRQRPLF 
d. se folosesc cu foarte buQHUH]XOWDWHvQSHULRDGHOHGHVWDELOLWDWHHFRQRPLF 
e. FHO PDL DGHVHD VH IRORVHVF PRGHOHOH OLQLDUH GH SURSRU LRQDOLWDWH GLUHFW  D
financiare a stocurilor, n raport cu volumul de activitate.

P ULPLL

,QGLFD LYDULDQWDIDOV

29. Metodele analitice bazate pe costurLOHH[SORDW ULLVHFDUDFWHUL]HD] SULQ


a. SRUQHVF GH OD HOHPHQWH GH FKHOWXLHOL FDUH FDUDFWHUL]HD]  ILHFDUH ID]
H[SORDWDUH L GH OD WLPSXO vQWUH GRX
H[SORDW

 D FLFOXOXL GH

 UHFRQVWLWXLUL FRQVHFXWLYH DOH VWRFXULORU

ULL

b. pornesc de la elemente de cheltuieli carH

FDUDFWHUL]HD]  ILHFDUH ID]  D FLFOXOXL GH

H[SORDWDUHLGHODWLPSXOSHQWUXVWRFXOGHDVLJXUDUH

c.

FKHOWXLHOLOH H[SORDW ULL VXQW SUHYL]LRQDWH SH SHULRDGD GH JHVWLXQH FRQVLGHUDW  SULQ EXJHWXO

de trezorerie;
d. cheltuielile materiale pentru stocul curent se corHFWHD]

 FX XQ FRHILFLHQW HJDO FX 

GDWRULW  FRQVXP ULL WUHSWDWH D VWRFXOXL GH PDWHULDOH GH OD QLYHOXO PD[LP GLQ SULPD ]L D
DSURYL]LRQ ULLSkQ ODQLYHOXOPLQLPGLQSUH]LXDXQHLQRLDSURYL]LRQ UL

e.

FKHOWXLHOLOH GH IDEULFD LH VH DMXVWHD]  FX XQ FRHILFLHQW GH FRUHFWDUH N FXSULQV vQWUH  L
vQIXQF LHGHULWPXOGHDORFDUHDFDSLWDOXULORUE QHWLvQIRUPDVWRFXULORUGHSURGXVHvQ
FXUVGHIDEULFD LH

30. 3HQWUXILHFDUHVWRFGHPDWHULDOHVHPQLILFDWLYHQHFHVDUXOGHILQDQ
GHWHUPLQ GXS UHOD ia:
a. NFCEm = Nan pa (i + s + c + tr)/360;
b. NFCEm = Nan u pa u ( u i + s + c + tr)/360;
c. NFCEm = Nan pa (i + s + c + tr)/360;
d. NFCEm = Nan pa (i + s + c + tr)/360
e. NFCEm = Nan pa (i + s + c + tr)/360,

DWPHGLXDQXDOVH

Modulul 3 -*HVWLXQHDILQDQFLDU

SHWHUPHQVFXUW

unde: NFCEm necesarul de finDQ DWPHGLXDQXDOSHQWUXPDWHULDOHOHVHPQLILFDWLYH


Nan
-QHFHVDUXODQXDOGLQPDWHULDSULP VHPQLILFDWLY 
pa
-SUH XOXQLWDUGHDSURYL]LRQDW
i
-LQWHUYDOXOPHGLXvQWUHDSURYL]LRQ UL
s
-LQWHUYDOXOSHQWUXVWRFXOGHVLJXUDQ 
c
- intervaluOSHQWUXVWRFXOGHFRQGL LRQDUH
tr
- intervalul pentru transportul interior.
31. 3HQWUXILHFDUHSURGXVVHPQLILFDWLYvQFXUVGHIDEULFD LHQHFHVDUXOGHILQDQ DWPHGLXDQXDO
(NCFEm VHGHWHUPLQ DVWIHO
a. NFCEp = Q Cuz D/360;
b. NFCEp = Q 360 k D/Cuz;
c. NFCEp = Q u Cuz u k u D/360;
d. NFCEp = 360 k D/Q Cuz;
e. NFCEp = 360 Q Cuz/k D.
unde: Q -SURGXF LDIL]LF DQXDO SUHYL]LRQDW 
Cuz FRVWXOGHX]LQ XQLWDUDQWHFDOFXODW
k - coeficientul de corectare specific ritmului de avansare a cheltuiHOLORUGHIDEULFD LH
d -GXUDWDFLFOXOXLGHIDEULFD LH
32. 3HQWUXILHFDUHSURGXVILQLWVHPQLILFDWLYQHFHVDUXOGHILQDQ
FXDMXWRUXOUHOD LHL

DWPHGLX 1)&(f VHGHWHUPLQ

a. NFCEf = Q u Cc u Dst/360;
b. NFCEf = Q Cc 360/Dst;
c. NFCEf = Q Dst/(360 Cc);
d. NFCEf = Dst 360/(Q Cc);
e. NFCEf = Cc 360/(Q Dst).
unde: Q -SURGXF LD
Cc - cost complet unitar antecalculat;
Dst -GXUDWDGHVWD LRQDUHvQPDJD]LHDSURGXVHORUILQLWH
33. 3HQWUXSURGXVHOHH[SHGLDWHQHFHVDUXOGHILQDQ
UHOD LHL

DW 1)&(e VHGHWHUPLQ

FXD

jutorul

a. NFCEe = 360 Ddec/(Qan Cc);


b. NFCEe = (Ddec/Cc) (360 Qan);
c. NFCEe = (360 Cc)/(Qan Ddec);
d. NFCEe = (Qan u Cc u Ddec)/360;
e. NFCEe = Qan Cc/(360 Ddec),
unde: Qan SURGXF LDDQXDO H[SHGLDW 
Cc -FRVWXOGHSURGXF LH
Ddec GXUDWDPHGLHGHvQFDVDUHDFOLHQ LORU
34. 1HFHVDUXOGHILQDQ DWSHQWUXHOHPHQWHOHQHVHPQLILFDWLYHGHPDWHULDOHLGHSURGXVH
(NFCEd VHGHWHUPLQ FXDMXWRUXOUHOD LHL
a. NFCEd = Chd suma (Chs) / suma (NFCEs);
b. NFCEd = suma (NFCEs) suma (Chs) / Chd ;
c. NFCEd = suma (Chs) suma (NFCEs) / Chd ;
d. NFCEd = Chd u suma (NFCEs) / suma (Chs) ;
e. NFCEd = Chd / [suma (Chs) suma (NFCEs)].
unde: Chd
- cheltuielile anuale pentru elementele nesemnificative;
suma (Chs) - totalul cheltuielilor anuale cu elemente nesemnificative;
suma (NFCEd) -WRWDOXOQHFHVDUXOXLGHILQDQ DWPHGLXDQXDODOVWRFXULORUGHHOHPHQWH
semnificative;

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


35. 'XUDWDPHGLHDURWD LHLSHILHFDUHGLQFHOHSDWUXFDWHJRULLGHVWRFXUL 'PU VHGHWHUPLQ

FXUHOD LD

a.
b.
c.
d.
e.

Dmr = (NFCEs + NFCEd) (Chs + Chd) / 360;


Dmr = (Chs + Chd) 360 / (NFCEs + NFCEd);
Dmr = (NFCEs + NFCEd) u 360 / (Chs + Chd);
Dmr = (NFCEs + NFCEd) / (Chs + Chd) 360;
Dmr = (Chs + Chd) / 360 (NFCEs + NFCEd),
unde: Chs
cheltuieli de exploatare semnificative;
Chd
cheltuieli de exploatare diverse;
NFCEs QHFHVDUGHILQDQ DUHVWRFXULORUGLYHUVH
NFCEd QHFHVDUGHILQDQ DUHVWRFXULORUGLYHUVH

36. 1HFHVDUXOGHILQDQ
GHWHUPLQ

a.
b.
c.
d.
e.

GXS

DWWULPHVWULDO1)&(trim

pe fiecare din categoriile de stocuri se

UHOD LD

NFCEtrim = 90 Dmr / Chtrim;


NFCEtrim = 90 Chtrim / Dmr;
NFCEtrim = 90 / (Chtrim Dmr);
NFCEtrim = Dmr / (90 Chtrim);
NFCEtrim = Chtrim u Dmr / 90.
unde: Dmr GXUDWDPHGLHDURWD LHLSHILHFDUHGLQFDWHJRULLOHGHVWRFXUL

37. 1HFHVDUXOGHILQDQ DWWULPHVWULDO1)&(trim pe bazDFLIUHLGHDIDFHULVHFDOFXOHD] DVWIHO


a. NFCEtrim = 90 Rc / CA;
b. NFCEtrim = 90 CA / Rc;
c. NFCEtrim = 90 / CA Rc;
d. NFCEtrim = CA u Rc / 90;
e. NFCEtrim = 90 CA / Rc.
unde: CA FLIUDGHDIDFHULSUHYL]LRQDW WULPHVWULDO
Rc -UDWDFLQHWLF GXUDWHOHURWD LHLDFWLYHORUFLUFXODQWHvQUDSRUWFXFLIUDGHDIDFHUL
38. 1HFHVDUXOWULPHVWULDOVHGHWHUPLQ

SHILHFDUHFDWHJRULHGHVWRFXULvQIXQF LHGHUDWHOH

FLQHWLFHVSHFLILFHDFHVWRUD&DUHUHOD LHHVWHIDOV

a.
b.
c.
d.
e.

Rcm = Sd Mat 360 / (Ca m%);


Rcn = Sd prod n curs 360 / [Ca (m% + f% / 2)];
Rcn = Sd prod n curs u 360 / (Cs u f%);
Rcf = Sd produse finite 360 / (Ca c%);
SHQWUXFUHDQ HFOLHQ L
5FF 6G&OLHQ L 360 / Ca,
unde: m% - ponderea consumului de materiale n CA;
f% -SRQGHUHDFKHOWXLHOLORUGHIDEULFD LHvQ&$
c% -SRQGHUHDFRVWXOXLGHSURGXF LHvQ&$
CA - cifra de afaceri.
pentru materiale:
pentru produsele n curs:
pentru produsele n curs:
pentru produsele finite:

39. 1HFHVDUXOGHILQDQ
GHSHQGHQW

a.
b.
c.
d.
e.

"

DWWULPHVWULDOSHWRWDODFWLYHFLUFXODQWHvQIXQF LHGHYLWH]DGHURWD LH

GHFRVWXULVHGHWHUPLQ

FXDMXWRUXOUHOD LHL

NFCEtrim = Qtrim u Cc u Dr / 90;


NFCEtrim = Qtrim Cc 90 / Dr;
NFCEtrim = Qtrim Cc / (Dr 90);
NFCEtrim = Dr 90 / (Qtrim Cc);
NFCEtrim = Qtrim Dr / (90 Cc),
unde: Qtrim SURGXF LDIL]LF SUHYL]LRQDW WULPHVWULDO
Cc - costul complet unitar antecalculat;
Dr -YLWH]DGHURWD LHGLQSHULRDGHSUHFHGHQWH

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


40. Necesarul trimestrial de active circulante (NFCEtrim) pe baza activelor circulante la 1000
OHLPDUI

a.
b.
c.
d.
e.

VHFDOFXOHD]

vQPRGXOXUP

WRU

NFCEtrim = Qtrim Cc Ac/1000 / (4 1000);


NFCEtrim = Ac/1000 4 1000 / (Qtrim Cc);
NFCEtrim = Cc 4 1000 / (Qtrim Ac/1000);
NFCEtrim = Qtrim u Cc u Ac/1000 u 4 / 1000;
NFCEtrim = Qtrim 1000/(Cc Ac/1000 4),
unde: Qtrim SURGXF LDWULPHVWULDO 
Ac/1000 DFWLYHFLUFXODQWHODOHLSURGXF LDPDUI
Cc
costul complet unitar antecalculat.

41. 1HFHVDUXOWULPHVWULDOGHDFWLYHFLUFXODQWHvQIXQF
VHGHWHUPLQ

a.
b.
c.
d.
e.

vQIHOXOXUP

LHGHUDWDFLQHWLF

DDFWLYHORUFLUFXODQWH

WRU

NFCEtrim = 90 Rc / Catrim;
NFCEtrim = 90 Catrim / Rc;
NFCEtrim = 90 / Rc Catrim;
NFCEtrim = Rc / (Catrim 90);
NFCEtrim = Rc u Catrim / 90.

42. 6WRFXOGHPDWHULLSULPHLPDWHULDOHVHGHWHUPLQ 
a. necesarul mediu zilnic WLPSXOGHFRQGL ionare;
b. necesarul mediu zilnic WLPSXOGHWUDQVSRUWvQWUHFRQGL LRQ UL
c. necesarul mediu zilnic LQWHUYDOXOPHGLXvQWUHDSURYL]LRQ UL
d. necesarul mediu zilnic WLPSXOSHQWUXVWRFXOGHFRQGL LRQDUH
e. necesarul mediu zilnic u timpul de imobilizare total.
43. RolXOVWRFXOXLFXUHQWGHPDWHULLLPDWHULDOHvQFDGUXOSURFHVXOXLGHSURGXF LHHVWH
a. GHDDVLJXUDFRQWLQXLWDWHDSURGXF LHLSHWLPSXOWUDQVSRUWXOXLLQWHULRU
b. GH D DVLJXUD FRQWLQXLWDWHD SURGXF LHL vQ SHULRDGD QHFRUHVSXQ] WRDUH GLQ SXQFW GH YHGHUH
climateric;
c. dHDDVLJXUDFRQWLQXLWDWHDSURGXF LHLSHSHULRDGDRSHUD LXQLORUGHFRQGL LRQDUH
d. GH D DVLJXUD FRQWLQXLWDWHD SURGXF LHL vQ SHULRDGD vQWUHUXSHULORU vQ SURFHVXO GH
aprovizionare;
e. GHDDVLJXUDFRQWLQXLWDWHDSURGXF LHLvQWUHGRX DSURYL]LRQ ULFRQVHFXWLYH
44. Prin PHWRGDDQDOLWLF ED]DW

SHFRVWXUL

SULYLQGFUHDQ HOHVHGHWHUPLQ

FXUHOD LD

a.
b.
c.
d.
e.

QHFHVDUXOGHILQDQ

DWDOH[SORDW

ULL 1HFer

Necer = [(Qan Cuzina) 360] 'XUDWDGHIDEULFD LH


Necer = [(Qtrim Ccomplet) 90] 'XUDWDGHIDEULFD LH
Necer = [(Qan Paprovizionare) 360] Durata de decontare;
Necer = [(Qan Ccomplet) 90] Durata de depozitare;
Necer = [(Qan u Ccomplet) u 90] u Durata de decontare.
unde: C cost;
P SUH 
Q (an)(trim) SURGXF LDIL]LF DQXDO  WULPHVWULDO 

45. 'LVSXQH

LGHXUP

SODQHVWHvQVXP
vQVXP

WRDUHOHLQIRUPD LLFLIUDGHDIDFHULSUHYL]LRQDW

GHPLLOHLFLIUDGHDIDFHUL DQXDO

SHWULPDODQXOXLGH

DIHUHQW

SHULRDGHLSUHFHGHQWH

GHPLLOHLVROGXOPHGLXDODFWLYHORUFLUFXODQWH GLQELODQ XOH[HUFL LXOX

vQFKHLDW HVWHGHPLLOHLFRHILFLHQWXOGHDFFHOHUDUHDURWD LHLDFWLYHORUFLUFXODQWHSULQ


FLIUDGHDIDFHUL

8WLOL]kQGPHWRGDVLQWHWLF

ED]DW

FLUFXODQWHQHFHVDUXOGHILQDQ DWSHQWUXWULPYDIL

SHUDWDGHURWD LHDDFWLYHORU

Modulul 3 -*HVWLXQHDILQDQFLDU
a. 3589,5 mii lei;
b. 717,9 mii lei;
c. 5134,9 mii lei;
d. 2871,6 mii lei;
e. 4250,5 mii lei.
46. n anul precedent s-DRE

SHWHUPHQVFXUW

LQXWRFLIU

FLUFXODQWHGH'DF

GHDIDFHULGHFXXQVROGPHGLXGHDFWLYH

VHVWDELOHWHRFLIU

viitor,DWXQFLQHFHVDUXOGHILQDQ
a. 90;
b. 360;
c. 21.750;
d. 21.750 / 4;
e. 45.000.

GHDIDFHULGHSHQWUXWULPDODQXOXL

DUHDFLFOXOXLGHH[SORDWDUH 1)&( vQWULPYDILGH

47. 6HFXQRVFFRVWXOSURGXF LHLPDUI YkQGXW  vQDQXOSUHFHGHQW  PLLOHLVROGXO


mediu al activelor circulante = 16.994. In anulYLLWRUVHHVWLPHD] 
- FRVWXULGHSURGXF LHPDUI WULPHVWULDO PLLOHL
- FRHILFLHQWXOGHDFFHOHUDUHDURWD LHLDFWLYHORUFLUFXODQWH 
QDFHVWFRQGL LLQHFHVDUXOGHILQDQ DUHWULPHVWULDOYDILHJDOFX

a.
b.
c.
d.
e.

33.465 mii lei;


32.713 mii lei;
31.713 mii lei;
30.789 mii lei;
28.867 mii lei.

48. Se cunosc: cifra de afaceri din anul precedent 87.000 mii lei; coeficientul de accelerare n
UDSRUWFXFLIUDGHDIDFHUL
WULPHVWULDO

3HQWUXDQXOXUP

WRUVHHVWLPHD]

FLIUDGHDIDFHUL

GHPLLOHL'HDVHPHQHDVHFXQRDWHVROGXOPHGLXDODFWLYHORUFLUFXODQWH

GHPLLOHL,QDFHVWHFRQGL LLQHFHVDUXOGHILQDQ DWWULPHVWULDOYDILHJDOFX

a.
b.
c.
d.
e.

32.692 mii lei;


31.410 mii lei;
30.769 mii lei;
33.333 mii lei;
28.784 mii lei.

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


CAPITOLUL 10: Fiscalitatea ciclului de exploatare. Costul creditelor pe termen scurt
49. 2ELHFWLYXOGHFL]LHLGHILQDQ DUHDFLFOXOXLGHH[SORDWDUHvOFRQVWLWXLH
a. VHOHFWDUHDLPRELOL]DUHDRSHUDWLY DVXUVHORUGHFDSLWDOXULFLUFXODQWH
b. VHOHFWDUHDRSHUDWLY DVXUVHORUGHFDSLWDOXULFLUFXODQWHODFHOPDLUHGXVFRVWDOSURFXU ULLDFHVWRUD
c. PRELOL]DUHD UDSLG  D VXUVHORU GH FDSLWDOXUL FLUFXODQWH OD FHO PDL UHGXV FRVW DO SURFXU ULL
acestora;
d. VHOHF LD L PRELOL]DUHD RSHUDWLY  D VXUVHORU GH FDSLWDOXUL FLUFXODQWH OD FHO PDL UHGXV
ULLDFHVWRUDvQFRQGL LLOHGHUHGXFHUHDULVFXOXL

FRVWDOSURFXU

e.

VHOHF LDLPRELOL]DUHDRSHUDWLY DVXUVHORUGHFDSLWDOXULFLUFXODQWHODFHOPDLUHGXVFRVWDO


DFHVWRUDvQFRQGL LLOHGHPDQLIHVWDUHY GLW DULVFXOXL

50. 5HOD

LDGHHFKLOLEUXILQDQFLDUDFLFOXOXLGHH[SORDWDUHU

espectiv echilibru ce trebuie

DVLJXUDWvQWUHQHYRLDGHILQDQ DUHDFLFOXOXLGHH[SORDWDUH 1)&( LUHVXUVHOHGHILQDQ DUH


DDFHVWHLDVHED]HD]

a.

SHXUP

WRDUHDFRQVLGHUD LH

DSHODUHD OD VXUVH SURSULL DWUDVH VDX vPSUXPXWDWH VH YD IDFH vQ FRQGL LLOH GH DUPR

nizare a

UHOD LHLUHQWDELOLWDWH OLFKLGLWDWHLGHGLPLQXDUHDULVFXOXL

b.

VXUVHOHSURSULLFKLDUGDF LPSOLF  SDUWLFLSDUHDLQYHVWL LLORUGHFDSLWDOXUL OD SURSULHWDWH L


GLVWULEX LD SURILWXOXL QHW FRQVWLWXLH WRWXL FHD PDL VLJXU  VXUV  GH ILQDQ DUH GHWHUPLQ 
DXWRQRPLDILQDQFLDU LHOLPLQ ULVFXOUHWUDJHULLIRUWXLWHDFDSLWDOXULORU

c. sursele atrase sunt neoneroase, dar nesigure;


d. VXUVHOH vPSUXPXWDWH SUH]LQW  SULQFLSDOXO DYDQWDM DO PRELOL]

ULL ORU SHQWUX D DPRUWL]D

GLIHUHQ D FRQWLQXX IOXFWXDQW  GLQWUH QHFHVDUXO GH ILQDQ DUH L VXUVHOH SURSULL L DWUDVH GH

capitaluri circulante;
e.

DSHODUHD OD VXUVH vPSUXPXWDWH VH YD IDFH vQ FRQGL LL GH RSWLPL]DUH D UHOD LHL

rentabilitate-lichiditate-ndatorare-risc.
,QGLFD LYDULDQWDIDOV

51. 2GHFL]LHRSWLP
a. HFKLOLEUHD]

GHILQDQ DUHDFLFOXOXL

de exploatare poate fi aceea care:

 UHOD LD FRQWUDGLFWRULH GLQWUH FUHWHUHD DXWRQRPLHL ILQDQFLDUH L QHFHVLWDWHD

DSHO ULLODVXUVHPRELOHHODVWLFHGHFDSLWDOXUL

b.

HFKLOLEUHD] FUHWHUHDDXWRQRPLHLILQDQFLDUHSULQIRORVLUHDVXUVHORUSURSULLIR

losire ce este

vQVR LW GHRULJLGLWDWHvQILQDQ DUHDQHYRLORUPDLPDULGHFkWFHOHPLQLPHLSHUPDQHQWH

c.

HFKLOLEUHD]

UHOD LD

QHFHVLWDWHD DSHO
WHPSRUDUHLV

d.

FRQWUDGLFWRULH

GLQWUH

FUHWHUHD

DXWRQRPLHL

ULL OD VXUVH PRELOH HODVWLFH GH FDSLWDOXUL FDUH V

YLQ

ILQDQFLDUH

 DF

L

opere nevoile

vQFRPSOHWDUHDVXUVHORUSURSULL

HFKLOLEUHD] FUHWHUHDDXWRQRPLHLILQDQFLDUHLQHFHVLWDWHDDSHO ULLODVXUVHPRELOHHODVWLFH


GHFDSLWDOXULFDUHV DFRSHUHQHYRLOHWHPSRUDUHLV YLQ vQFRPSOHWDUHDVXUVHORUSURSULL

52. )RQGXOGHUXOPHQWFDVXUV GHILQDQ DUHDFLFOXOXLGHH[SORDWDUHvQUHJLVWUHD]


determinate de:
a. FUHWHULGHFDSLWDO
b. GLPLQX ULGHFDSLWDO
c. FRQWUDFW ULGHQRLvPSUXPXWXULSHWHUPHQOXQJ
d. UDPEXUV ULvPSUXPXWXULDQWHULRDUH
e. SURILWXULLDPRUWL] ULQHUepartizate.
,QGLFD LYDULDQWDIDOV

YDULD LL

53. 'DWRULLOHGHH[SORDWDUH VXUVHDWUDVH FDLPSRUWDQWHVXUVHGHILQDQ


H[SORDWDUHSUH]LQW

XUP

DUHDOHFLFOXOXLGH

WRDUHOHFDUDFWHULVWLFL

a. UH]XOW GLQUHOD LLOHFRQWUDFWXDOHDOHvQWUHSULQGHULLFXWHU LLVDXFXVWDWXO


b. avnd n vedere caracterul avantajos al acestei surse de capital, ntreprinderea ar
SXWHD SURILWD SULQ UHGXFHUHD ORU FD YROXP L SULQ DPkQDUHD WHUPHQXOXL HIHFWLY GH
SODW

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


c. DQJDMDUHD DFHVWRU GDWRULL HVWH UHJOHPHQWDW
FRQVHFLQ

 SULQ FRQWUDFWH VDX OHJL GH LPSR]LWDUH L vQ

 YD SXWHD IL SHQDOL]DW  SULQ GHS LUHD WHUPHQXOXL GH SODW  D GDWRULLORU GH

exploatare;
d.

vQLQWHUYDOXOGHODLQWUDUHDLUHFHS LDPDWHULDOHORUVHUYLFLLORUPDQRSHUHLVDXGHODQDWHUHD
GDWRULLORU F WUH VWDW L SkQ  OD PRPHQWXO SO

LL HIHFWLYH D

datoriilor, ntreprinderea

EHQHILFLD] GHRVXUV GHFDSLWDOXULIXUQL]DW GHDFHWLWHU LvQPRGJUDWXLW

e.

vQWUHSULQGHUHD DU SXWHD SURILWD GH FUHWHUHD DFHVWRU GDWRULL L SULQ DPkQDUHD WHUPHQXOXL
HIHFWLYGHSODW 

,QGLFD LYDULDQWDIDOV

54. Pasivele stabile-VHSODQLILF


SDUFXUJHUHDXUP

a.

GXS

PHWRGDvQVXP

ULLVROGXULORU]LOQLFHFDUHQHFHVLW

WRDUHORUHWDSH

DOHJHUHD WULPHVWUXOXL FX DFWLYLWDWH PLQLP  GHWHUPLQDUHD GDWRULHL ]LOQLFH GHWHUPLQDUHD

soldului la nceputul unei luni din trimestrul maxim, calculul soldurilor din fiecare zi,
nsumarea soldurilor din fiecare zi de la toate pasivele stabile-LDOHJHUHDVROGXOXL]LOQLF
cel mai mic;
b.

DOHJHUHD WULPHVWUXOXL FX DFWLYLWDWHD PD[LP  GHWHUPLQDUHD GDWRULHL ]LOQLFH GHWHUPLQDUHD

soldului la nceputul unei luni din trimestrul maxim, calculul soldurilor din fiecare zi,
vQVXPDUHDVROGXULORUGLQILHFDUH]LLDOHJHUHDVROGXOXL]LOQLFWRWDOFHOPDLPDUH

c.

DOHJHUHD WULPHVWUXOXL FX DFWLYLWDWHD PD[LP  GHWHUPLQDUHD GDWRULHL ]LOQLFH GHWHUPLQDUHD

soldului la nceputul unei luni, din trimestrul maxim, calculul soldurilor din fiecare zi,
vQVXPDUHDVROGXULORUGLQILHFDUH]LLDOHJHUHDVROGXOXL]LOQLFWRWDOFHOPDLPLF

d.

DOHJHUHD

WULPHVWUXOXL

FX

DFWLYLWDWH

PLQLP



GHWHUPLQDUHD

GDWRULHL

]LOQLFH

determinarea soldului la nceputul unei luni din trimestrul minim, calculul soldului
GLQ ILHFDUH ]L vQVXPDUHD VROGXULORU GLQ ILHFDUH ]L L DOHJHUHD VROGXOXL ]LOQLF WRWDO FHO

mai mic;
e.

DOHJHUHD WULPHVWUXOXL FX DFWLYLWDWH PLQLP  GHWHUPLQDUHD GDWRULHL ]LOQLFH GHWHUPLQDUHD

soldului la nceputul unei luni din trimestrul minim, calculul soldurilor din fiecare zi,
vQVXPDUHDVROGXULORUGLQILHFDUH]LLDOHJHUHDVROGXOXL]LOQLFWRWDOFHOPDLPDUH

55. Pasivele stabile-VHGHWHUPLQ FXDMXWRUXOUHOD LHLGHFDOFXO


a. PS- $SURYL]LRQ ULWULPWRWDOH/ 90 u'XUDWDPHGLHDGHFDODMHORUGHSO
b. PS- $SURYL]LRQ ULWULPWRWDOH'XUDWDPHGLHDGHFDODMHORUGHSO L
c. PS- 'XUDWDPHGLHDGHFDODMHORUGHSO L$SURYL]LRQ ULWULPWRWDOH
d. PS- $SURYL]LRQ ULWULPWRWDOH'XUDWDPHGLHDGHFDODMHORUGHSO L 90;
e. PS- 'XUDWDPHGLHDGHFDODMHORUGHSO L$SURYL]LRQ ULWULPWRWDOH 90.

L

56. Rata dobnzii ca element de determinare a costului aplicabil al creditelor de trezorerie


HVWHLQIOXHQ DW

a.

GH

UDWD GREkQ]LL GH UHIHULQ

 UDWD RILFLDO  D VFRQWXOXL PDMRUDUHD UDWHL GH UHIHULQ

 SHQWUX

compensarea riscului implicat de tipul de credit;


b.

 UDWD RILFLDO  D VFRQWXOXL PDMRUDUHD UDWHL GH UHIHULQ

 SHQWUX

FRPSHQVDUHD ULVFXOXL LPSOLFDW GH WLSXO GH FUHGLW L PDMRUDUHD UDWHL GH UHIHULQ

UDWD GREkQ]LL GH UHIHULQ

 SHQWUX

compensarea riscului de ntreprindere;


c.

UDWD RILFLDO  D VFRQWXOXL R UDW  LQWHU EDQFDU  OD FUHGLWHOH UHFLSURFH GLQWUH E QFL
PDMRUDUHD UDWHL GH UHIHULQ

majorarea ratei de referiQ


d.

 SHQWUX FRPSHQVDUHD ULVFXOXL LPSOLFDW GH WLSXO FUHGLWXOXL L


SHQWUXFRPSHQVDUHDULVFXOXLGHvQWUHSULQGHUH

UDWD GREkQ]LL GH UHIHULQ


ULVFXOXL

LPSOLFDW

GH

WLSXO

 PDMRUDUHD UDWHL GH UHIHULQ


GH

FUHGLW

compensarea riscului de ntreprindere.

L

PDMRUDUHD

 SHQWUX FRPSHQVDUHD

UDWHL

GH

UHIHULQ

SHQWUX

Modulul 3 -*HVWLXQHDILQDQFLDU
57. In raport cu m
GXS

SHWHUPHQVFXUW

ULPHDSDWULPRQLXOXLVHSURSXQHRFODVLILFDUHGHULVFDvQWUHSULQGHULORU

FLIUDGHDIDFHULUHDOL]DW

GHDFHVWHD&RQIRUPDFHVWHFODVLILF

ULUH LQHPXUP

WRDUHOH

categorii:
a. A pentru ntreprinderi cu cifra de afaceri mai mare de 500 miliarde lei anual nXVHDSOLF 
majorare de risc;
b. %SHQWUXFLIUHGHDIDFHULvQWUHLPLOLDUGHOHLPDMRUDUHDHVWHGHSXQFWH
c. &vQWUHLPLOLDUGHOHLPDMRUDUHDGHULVFHVWHGHSXQFWH
d. D pentru cifre de afaceri mai mici de 100 miliarde, categorie QFDGUXOF UHLDPDMRUDUHD
HVWHGLIHUHQ LDW vQWUHLSXQFWH

e.

( SHQWUX FLIUH GH DIDFHUL PDL PLFL GH  PLOLDUGH FDWHJRULH vQ FDGUXO F

UHLD

PDMRUDUHDHVWHLSXQFWH
,QGLFD LYDULDQWDIDOV

58. $QDOL]DPDQDJHULDO
a.

FDPRGDOLWDWHGHDQDOL]

D

dosarului de credit al unui client bancar

WRDUHOHFULWHULL

DUHvQYHGHUHXUP

FDOLWDWHD RUJDQL]

ULL VHFWRUXO GH DFWLYLWDWH SR]L LD XQLW

LL vQ UDPXU

 FDOLWDWHD

conducerii, perspectiva firmei;


b.

FDOLWDWHDRUJDQL] ULLVHFWRUXOGHDFWLYLWDWHSR]L LDXQLW

LLvQUDPXU FDOLWDWHDFRQGXFHULL

JDUDQ LLGHSXVH

c.

FDOLWDWHDRUJDQL] ULLVHFWRUXOGHDFWLYLWDWHSR]L LDXQLW

LLvQUDPXU FDOLWDWHDFRQGXFHULL

GHSHQGHQ DGHSLH H

d.

FDOLWDWHD

RUJDQL] ULL

VHFWRUXO

GH

DFWLYLWDWH

SR]L LD

XQLW

LL

vQ

UDPXU 

JDUDQ LL

GHSHQGHQ DGHSLH H

e.

FDOLWDWHD RUJDQL] ULL VHFWRUXO GH DFWLYLWDWH FDOLWDWHD FRQGXFHULL JDUDQ LL GHSHQGHQ H GH
SLD

59. $QDOL]DSHUIRUPDQ

HORUHFRQRPLFR ILQDQFLDUHFDPRGDOLWDWHGHDQDOL]

FUHGLWDUHvQYHGHUHXUP

DGRVDUXOXLGH

WRDUHOHFULWHULL

a. lichiditDWH VROYDELOLWDWH UHQWDELOLWDWH URWD

LD DFWLYHORU FLUFXODQWH GHSHQGHQ H GH

SLH HJDUDQ LL

b.

OLFKLGLWDWH VROYDELOLWDWH UHQWDELOLWDWH URWD LD DFWLYHORU FDOLWDWHD FRQGXFHULL SHUVSHFWLYD

firmei;
c.

OLFKLGLWDWH VROYDELOLWDWH UHQWDELOLWDWH URWD LD DFWLYHORU GHSHQGHQ D GH SLH H VHFWRUXO GH

activitate;
d.

OLFKLGLWDWH

VROYDELOLWDWH

UHQWDELOLWDWH

URWD LD

DFWLYHORU

URWD LD

DFWLYHORU

FDOLWDWHD

FRQGXFHULLJDUDQ LL

e.

OLFKLGLWDWH VROYDELOLWDWH UHQWDELOLWDWH URWD LD DFWLYHORU VHFWRUXO GH DFWLYLWDWH SHUVSH

ctiva

firmei.
60. 'HFL]LDGHFUHGLWDUHSULYLQGYROXPXOGXUDWDUDPEXUVDUHDGREkQGDHWFYD LQHFRQWGH
SXQFWDMXORE LQXWLGHvQFDGUDUHDvQWUHSULQGHULLvQWU-RDQXPLW FODV GHULVF$%&'
VDX(FDUHVHFDUDFWHUL]HD]

DVWIHO

a. cat. A: firme cu activitaWH HFRQRPLF  UHQWDELO  FDUH SRW UDPEXUVD FUHGLWHOH L SRW SO WL
dobnzile;
b. FDW ' DFHVWH ILUPH vQUHJLVWUHD]  SLHUGHUL L QX HVWH FHUW  UDPEXUVDUHD FUHGLWXOXL L
plata dobnzilor;
c. FDW&ILUPHOHUHVSHFWLYHVXQWDPHQLQ DWHGHvQU XW LUHDVLWXD LHLORUHFonomice;
d. FDW ( DFHVWH ILUPH vQUHJLVWUHD]  SLHUGHUL L QX HVWH FHUW  UDPEXUVDUHD FUHGLWXOXL L SODWD
dobnzilor;
e. FDW % ILUPH FX DFWLYLWDWH HFRQRPLF  EXQ  vQ SUH]HQW GDU vQ SHUVSHFWLY  SRW DS UHD
aspecte negative.
,QGLFD LYDULDQWDIDOV

Modulul 3 -*HVWLXQHDILQDQFLDU SHWHUPHQVFXUW


61. Rata dobnzii,HOHPHQWXOHVHQ LDOGLQFRVWXOFUHGLWHORUGHWUH]RUHULHSRDWHSUH]HQWDRVHULH
GHSDUWLFXODULW

L

a. HVWHFDOFXODW FDUDW DQXDO 


b. ODQLYHOXOXQHLIUDF LXQLGLQWU-XQDQVHSRDWHGHWHUPLQDF RUDW SURSRU LRQDO vQIXQF LHGHP ULPHDIUDF LXQLL;
c. avnd n veGHUH SRVLELOLWDWHD GH FDSLWDOL]DUH D GREkQ]LL GH F WUH EDQF  UDWD
SURSRU LRQDO

HVWHPDLPLF

GHFkWUDWDHFKLYDOHQW

DIUDF LXQLLGHWLPSUHVSHFWLYH

d.

DYkQG vQ YHGHUH SRVLELOLWDWHD GH FDSLWDOL]DUH D GREkQ]LL GH F WUH EDQF  UDWD SURSRU LRQDO 

e.

VHFDOFXOHD] FXDMXWRUXOUHOD LHL

este mai mareGHFkWUDWDHFKLYDOHQW

DIUDF LXQLLGHWLPSUHVSHFWLYH

D = (suma Nrd) Rd / 360,


unde: suma Nrd suma de numere debitoare;
Rd
- rata dobnzii.

,QGLFD LYDULDQWDIDOV

62. Costul total al creditelor de trezorerieFXSULQGHGREkQGDLGRX


GHULVFLGHFKHOWXLHOLDGPLQLVWUDWLYH&RPLVLRDQHOHVXQWXUP

FDWHJRULLGHFRPLVLRDQH

WRDUHOH

a. comisionul de credit, comisionul de imobilizare, comisionul pentru cel mai mare sold
GHELWRU FRPLVLRQ SHQWUX FHD PDL PDUH GHS LUH D plafonului de credite aprobat,
FRPLVLRQXOGHGHFRQWDUHVSH]HOHLFKHOWXLHOLOHGHvQWRFPLUHDGRFXPHQWHORUEDQFDUH

b.

FRPLVLRQXOGHFUHGLWFRPLVLRQXOGHLPRELOL]DUHFRPLVLRQXOSHQWUXFHDPDLPDUHGHS LUH

a plafonului de credite aprobat, comisionul de deFRQWDUH VSH]HOH L FKHOWXLHOLOH  GH


ntocmire a documentelor bancare;
c. comision de debit, comision de imobilizare, comisionul pentru cel mai mare sold creditor,
FRPLVLRQXO SHQWUX FHD PDL PDUH GHS LUH D SODIRQXOXL GH FUHGLWH DSUREDW FRPLVLRQXO GH

decontarHVSH]HOHLFKHOWXLHOLOHGHvQWRFPLUHDGRFXPHQWHORUEDQFDUH
d. comision de debit, comision de imobilizare, comisionul pentru cel mai mare sold creditor,
FRPLVLRQXO SHQWUX FHD PDL PDUH GHS LUH D SODIRQXOXL GH FUHGLWH DSUREDW  FRPLVLRQXO GH

decontare, spe]HOHLFKHOWXLHOLOHGHvQWRFPLUHDGRFXPHQWHORUEDQFDUH
63. &RPLVLRQXOSHQWUXFHOPDLPDUHVROGGHELWRUSUH]LQW XUP WRDUHOHFDUDFWHULVWLFL
a. FRUHVSXQGH UHSHUFXVLXQLL XQXL LPSR]LW SO WLW GH E QFL FD WD[  SHQWUX FUHGLWHOH DFRUGDWH L
n curs de rambursare;
b. se percepe la ntreprinderile care n tot cursul trimestrului nu au nregistrat nici un sold creditor;
c. VH FDOFXOHD]  SULQ DSOLFDUHD XQHL FRWH UHGXVH DVXSUD UXODMHORU GHELWRDUH vQUHJLVWUDWH vQ WULPHVWUXO
respectiv care privesc debitarea cecurilor, debitarea prin scontare de efecte comerciale etc.;
d. VHDSOLF ODQXP UXOWRWDODOVROGXULORUGHELWRDUH
e. VH PDL QXPHWH L SURFHQWDM SODW L SUH]LQW  FDUDFWHULVWLFLOH OD vQWUHSULQGHULOH OD
FDUH FHO PDL PDUH VROG GHELWRU VH vQUHJLVWUHD]  R VLQJXU  ]D SH OXQ  FRVWXO Ueal al
FRPLVLRQXOXLV

ILHPDLPDUHGHFkWvQFD]XOvQWUHSULQGHULORUFDUHDXvQUHJLVWUDWDFHVW

sold ntr-XQQXP

UPDLPDUHGH]LOHSHOXQ

64. 6FDUD GREkQ]LORU L GHFRQWXO GH GREkQ]L L FRPLVLRDQH UHSUH]LQW  SHQWUX vQWUHSULQGHUL
instrumente excelente de analiz DJHVWLXQLLGHWUH]RUHULHGLQILHFDUHWULPHVWUX3ULQDFHVWH
GRFXPHQWHVHSRWIDFHXUP

a.

WRDUHOHRSHUD LLGHFRQWURODOJHVWLXQLL

YHULILFDUHD]LOHORUGHGHFRQWDUHLFRPSDUDUHDORUFX]LOHOHGHRSHUDUH vQH[WUDVHOHGHFRQW
DFHFXULORULHIHFWHORUGHvQFD

sat;

b.

YHULILFDUHDRSHUD LLORUGHGHELWDUHEDQFDU H[RQHUDWHGHODSODWDFRPLVLRQXOXLGHGHFRQWDUH


LQHJRFLHUHDDOWRURSHUD LLvQYHGHUHDH[RQHU ULLORU

c. YHULILFDUHDUDWHLGHGREkQG DSOLFDELO ODVROGXULOHGHELWRDUH


d. verificarea calculului comisionului penWUX FHD PDL PDUH GHS
FUHGLWHDSUREDWLDUDWHLGHGREkQG

e.

PDMRUDW

LUH D SODIRQXOXL GH

FXDFHVWFRPLVLRQ

YHULILFDUHD UDWHL JOREDOH DQXDOH vQ IXQF LH GH WRDWH GREkQ]LOH L FRPLVLRDQHOH DSOLFDWH

creditelor de trezorerie.

Modulul 3 -*HVWLXQHDILQDQFLDU
65. Pentru fiecare tip de credit se asRFLD]
FRPSDU
XUP

a.

SHWHUPHQVFXUW

YDULDELOHOHFRVWXOQRPLQDOLFRVWXOUHDOLVH

DYDQWDMHOHLGH]DYDQWDMHOHILHF

UHLDGLQWUHHOHQJHQHUDOVHDXvQYHGHUH

WRDUHOHFDUDFWHULVWLFLDOHFUHGLWHORUGHWUH]RUHULHLDOHFUHGLWHORUGHVFRQW
UDWD QRPLQDO  D GREkQ]LL OD FUHGLWHOH GH VFRQW HVWH PDL UHGXV  GHFkW OD FUHGLWHOH GH

trezorerie;
b.

UDWDQRPLQDO

D GREkQ]LLOD FUHGLWHOH GHVFRQWHVWHPDLULGLFDW

GHFkWOD FUHGLWHOHGH

trezorerie;
c. UDWDUHDO DVFRQWXOXLSRDWHILPDLPDUHVDXHJDO FXFHDGHWUH]RUHULH
d. comisioanele peQWUX FHO PDL PDUH VROG GHELWRU L SHQWUX FHD PDL PDUH GHS
DQWUHQHD] FRVWXULPDULODFUHGLWHOHGHWUH]RUHULH
,QGLFD LU

VSXQVXOIDOV

LUH GH SODIRQ

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