单选题We're paying for the furniture we bought in monthly ______. A. installments B. budgets C. credit bureau

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单选题Which of the following is not a characteristic of a competitive industry? (a)There are many firms. (b)All firms produce homogeneous products, which are substitutable for each other. (c)There is a fierce price war among rivals. (d)Firms can enter and exit the industry freely.

单选题A production function for a firm describes ______. (a)what should be produced to maximize profit. (b)what is technologically feasible when the firm produces efficiently. (c)what revenue is earned from producing efficiently. (d)what the firm produces with given inputs.

单选题Which of the following is not true of forfaiting? ______. A. Forfaiting is a form of trade finance with recourse B. Forfaiting is the act of purchasing an exporter's receivables (the amount the importer owes the exporter) at a discount by paying cash C. The forfeiter takes over the buyer risk D. The purchase is usually guaranteed by a bank in the buyer's country

单选题Foreign exchange receipts of domestic entities for current account transactions shall be repatriated home and shall not be deposited abroad. Foreign exchange receipts for current account transactions shall be sold to the designated foreign exchange banks, in accordance with the regulations issued by the State Council on the sale, purchase, and payment of foreign exchange, or be deposited in the foreign exchange account upon approval. Foreign exchange for current account payment and transfers may be purchased from designated foreign exchange banks upon the presentation of valid documents and commercial bills. After the foreign exchange restrictions on current account transactions were lifted in 1996, cases of fraud of foreign exchange have increased significantly. To address such problems, the SAFE has taken enforcement actions. To enforce the surrender of export proceeds, the SAFE and its local branches undertake to verify collection of export earnings. When exporting goods abroad, domestic exporting entities are required to undergo the verification procedures. The customs offices shall accept and handle declaration for export based on verification certificate within validity period. Only after no mistakes are found in the examination can customs permit entrance and clearance. After goods have been shipped out of Chinese territory, the customs shall write their opinion and stamp with "proof seal" on the verification certificate, with which the exporter goes through verification procedures. The exporter must send the stub of verification certificate together with commercial invoices and declaration form to the SAFE within 60 days of the date of customs declaration. The export earnings are then surrendered to designated banks or entered the exporter"s foreign exchange account.

单选题{{B}}Passage Three{{/B}} In the simplest form of international trade, the open-account basis, banks actually have only a simple transactions role. In the open-account basis, the importer and exporter are well known to each other and probably have established a successful working relationship. The importer orders goods and promptly pays for them when the goods and title thereto are received. Almost as simple is the foreign collection basis, in which a bank is used to transmit collected funds. Before the goods it has bought can be shipped, the importer must place funds with its bank so that the exporter is assured that payment will be made with collected funds. In this instance, the bank is merely an agent and not a lender.

单选题The buyer has to prove his promise in an open account.

单选题Basic accounting assumptions include the following except ______. (a)going concern. (b)monetary unit. (c)consistency. (d)business entity.

单选题If exercised, the ______ right prevents dilution of ownership control when additional stock is issued.

单选题A.Tofollowthebank'srulesandregulations.B.Tohavetherighttomakefulluseofthebank'sfacilities.C.Toopenanaccountinthebank.D.Toprotectthedepositor'sinterest.

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". Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.{{B}}Passage One{{/B}} The normal income statement which constitutes one of the financial statements of a company, is financial income statement. So functional income statement is an income statement that segregates all costs by use ; it shows revenues less cost of goods sold ( gross margin) less selling and administrative expenses. This approach is useful for financial reporting purpose ; it provides outsider readers with information about company's progress and about which functional areas are being emphasized. For management's use in the decision-making process, however, an income statement that follows a cost behavior approach, often referred to as a Contribution Margin Income Statement, is more valuable.

单选题The price elasticity of demand curve faced by a competitive firm is ______. (a)0. (b)-1. (c)-∞. (d)1.

单选题Directions: In this section you will hear three short passages. At the end of each passage, you will hear some questions. The passages arm the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C, and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center. {{B}}Passage One{{/B}}

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单选题An irrevocable documentary credit gives the beneficiary greater assurance of payment; however, he remains dependent on an undertaking of a foreign issuing bank. The issuing bank irrevocably commits itself to honour the exporter"s draft and / or documents provided that the stipulated documents are presented and all the stipulations of the documentary credit are compiled with. The irrevocable documentary credit cannot be cancelled/modified without the express consent of the issuing bank, the confirming bank (if any) anti the beneficiary.

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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". Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.{{B}}Passage One{{/B}} The market for large business certificates of deposit or negotiable certificates of deposit (CDs) in denominations of $100,000 or more has been active since 1961. It is a money market specializing in the sale of Marketable, interest-yielding deposit certificates with specified maturity dates, issued by four types of financial intermediaries. Domestic CDs are issued by US banks. Dollar-de- nominated CDs issued by banks outside the United States are called Euro CDs. The CDs issued by US branches of foreign banks are called Yankee CDs. Thrift CDs are the name used to designates CDs issued by domestic thrifts. The holder of a CD who wishes to exchange it for money before its maturity date will ask a money market participant (often a commercial bank) to arrange a sale through a specialized dealer. There is an active secondary market in CDs centered in New York. There are approximately 25 dealers in CDs. The CD is an instrument that allows the depository intermediaries to raise funds at competitive market rates. It is called one of their managed liabilities. Since they loan out funds at their lending rates, they would normally keep their advertised prime rate above the CD rate. As noted previously, the prime rate formula that had been used by Citibank set the prime one-and-a-half percentage points above the previous three-week average of 90-day (3-month) CDs sold in the secondary market. The yield on 3-month CDs is usually higher than 3-month Treasury bills. Treasury bills have a lower default risk and exempt from state and local tax. This may explain the extent of the spread.

单选题______ provide the trading parties, buyer and seller, with, a compromise between open account terms and payment in advance for file settlement of their transactions.