单选题A company buys 10 items at a price of ￡200 each, all on 14 days free credit. It then sells on the next day 5 units for ￡350 each. One item was sold for cash, the remainder on 21 days free credit. What effect do these transactions have on the firm’s cash flow on the day of the sale? ()

单选题These are four main methods of securing payment in international trade: (1) payment under documentary credit (2) open account (3) collection, that is document against payment or acceptance of a bill of exchange (4) payment in advance From an exporter's point of view, the order of preference is ______.

单选题Mr.WongisasmallmanufacturerofbicyclesinHongKong.Hisbusinessincurredthefollowingcostsfortheyearended31December2003.＄Materials(100%variable)300,000Labor(25%variable)200,000Selling&distributioncost(20%variable)50,000Othercosts(fixed){{U}}170,000{{/U}}Normally,thebusinesssells3,000unitsat＄300each:Required:(a)Calculatethebreakevenpointinunitsanddollarsales.(b)Calculatethecontributiontosalesratio.(c)Calculatethemarginofsafetyinpercentage.

单选题In the establishment of a trust, there are primarily ______.

单选题A derivative is a security which "derives" its value from another underlying (61) instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as (62) contracts and various indexes. Derivatives give the buyer greater leverage for a (63) cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a (64) of securities against losses. However, because derivatives have a date of (65) , the level of risk is greatly increased in relation to their term. One of the simplest forms of a derivative is a stock option. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time.

单选题Running open foreign exchange positions is ______, especially during periods of instability in exchange rates.

单选题For withdrawals by the trustee where a trustee has both a personal account and a trustee account in the bank.

单选题What does IPO stand for? A. Initial Pact Organization B. Initial Public Offering C. International Public Offering D. Intellectual Property Organization

单选题You are auditing a business, May Company for 1999 and 2000. You discover that May Company has adopted the following treatment of certain items in the accounts. —In 1999, inventory valuation method was FIFO, but in 2000 LIFO method has been used, as the prices is rising. —Insurance expense from 1 July 2000 to 1 July 2001 has been absolutely recorded in the accounts for expenses incurred. Required: State the fundamental accounting concept which governs each of the above two treatments: (a)inventory valuation method (b)insurance expense and discuss the effect which each treatment will have on the following financial ratios: (i)net profit margin (ii)return on capital employed (iii)current ratio (iv)quick (acid test)ratio

单选题In many instances the initial purchase of raw materials or finished foods for resale is on 1 Thus, suppliers can provide financing in the form of 2 payable. The accounts payable period covers the period between when tile order for law materials is 3 and when the resulting payable is paid. The accounts payable period is subtracted 4 the length of the operating cycle to get the cash conversion cycle. The cash conversion cycle measures a firm"s financing gap in 5 of time. In other words, it is the time between when the firm pays its suppliers and when it collects money from its customers.

单选题A.Asafeandconvenientway.B.Oneofthemostimportantservices.C.Animportantservice.D.Onemoreimportantservice.

单选题Banks with serious problems will have to launch a remedial action program based on the natures of the problems.

单选题{{B}}Passage Two{{/B}} Commercial paper may either be dealer placed or directly placed. If it is dealer placed, the {{U}}(61) {{/U}} sells its promissory notes to one of the ten-regular commercial paper dealers, which, in turn, sells it to others. If commercial paper is directly placed, the issuing corporation sells its notes directly in the market, without the intermediation of the {{U}}(62) {{/U}} . This is the method used primarily by sales-finance companies because they {{U}}(63) {{/U}} in the market on a virtually continuous basis. Sales-finance companies are companies that supply the credit for the installment purchase of major {{U}}(64) {{/U}} items, for example, automobiles, refrigerators, and television sets. These companies find the commercial paper {{U}}(65) {{/U}} particularly well suited to their needs since it enables them to adjust to swings in demand for installment purchases.

单选题A “liquid asset” means

单选题BSection One/B Directions: In this section, you will hear short statements. Each statement will be spoken only once. After each statement there will be a pause. During file pause, you must read file four suggested answers marked A, B, C and D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.

单选题 Directions: Read the following passages and determine whether the sentences are "Right" or "Wrong". If there is not enough information to answer " Right" or "Wrong", choose "Doesn't say".{{B}}Passage One{{/B}} When you buy a house, it is likely that you will be able to borrow a large part of the cost from a building society, when the solicitors close the deal. It is usual, however, to put down a deposit of 10% of the cost several weeks earlier when the price is agreed. Banks will often help with bridging loans for this purpose, against the solicitor' s undertaking to repay them on completion of the deal. In the same way banks will often make bridging loans to investors, against the security of their investments, when money is required to pay for the purchase of shares before it is available from the sale of other shares. Banks are not usually keen on making long-term loans in either case, because they prefer not to tie up their resources. They lend money which they have borrowed from depositors, mostly repayable on demand or at short notice, and one of the classic ways for a bank to get into trouble is by borrowing "short" and lending "long".

单选题For what purpose does a bank try to combine a savings account and a checking account?

单选题What does liquidity squeeze mean?

单选题{{B}}Passage Three{{/B}} A credit card is a plastic card (or its equivalent) to be used upon presentation by the cardholder to obtain money, goods, or services, possibly under a line of credit established by the card issuer. The cardholder is billed for any outstanding balance. Credit card customers are given a credit limit on the credit card account and can buy goods and services up to this amount. Normally, banks will set different credit lines to the different groups of cardholders. Every time cardholder uses a credit card for purchasing, he/she must sign a sales slip in the presence of the seller, and the signature is then compared to the signature on the card. Copies of the sales slips have the details of the card and they also show the details and amount of the sale. Each month the cardholder receives a statement from the bank which details all the transactions in the month, together with the total amount outstanding and any minimum amount that needs to be paid. When the full balance is not settled each month, the cardholder is charged a compound interest" (say 0.05% ) on the outstanding balance, and this is supposed to provide the bank with a main source of income (although in China, this revenue is still low because people are reluctant to run into debt). Other two major sources of credit card services are the annual fee from the eardholders and the percentage of the sales revenue as the commission paid by the seller.

单选题Financial markets can be classified as ______.