单选题Under normal circumstances, the auditor's first step would be to alert the client's management to the existence of ______.

单选题Which of the following does not belong to the category of fixed costs?

单选题{{B}}Section One{{/B}} Directions: In this section ,you will hear ten short statements. Each statement will be spoken only once. After each statement, there will be a pause. During the pause, you must read the four suggested answers marked A, B, C and D, and decide which is the best answer.

单选题An international sales transaction ______.

单选题A company that has the use of a vehicle upon payment of a sum of money on a regular basis over a long period of time is using the finance service of ______. A. factoring B. hire purchase C. leasing D. installment credit

单选题The cost-volume-profit (C-V-P) analysis can be used in making decisions about ______ and so on. A. selling prices B. production volume C. levels of discretionary fixed costs D. all the three above

单选题The World Bank's efforts to direct its hard loans to private enterprise have created a record of decades of ______ lending.

单选题Acts of a bill of exchange are some essential legal acts taken for the purpose of ______ the debt in the draft.

单选题{{B}}Passage Two{{/B}}

单选题The buyer has to pay the seller fully in advance in this ease.

单选题Tom cannot tell the difference between Coke and Pepsi. For Tom, these goods are ______. (a) perfect substitutes. (b) perfect complements. (c) necessities. (d) None of the above.

单选题Correspondent banking faces a problem of definition. Five years ago the business was preoccupied with electronic funds transfer. The spread of Swift's messaging network and the developing of the equally efficient clearing systems promised to elevate the medium through which banks communicate and fitted the traditional concept of correspondent banks talking to each other. By streamlining this function, however, the nature of the business changed and the importance of nurturing interbank relationships dwindled in the eyes of some correspondent bankers. Technology tends to lead to concentration, because the customer has gone to the bank that is bigger and faster, and can handle more volume, explains Ian Cormack, who heads Citicorp's financial institutions group in London and sits on the council of the clearing system in the UK. Moving or receiving money has always been at the heart of interbank activity. Lawrence Grand, international banking director at Barclays, makes the fundamental point that correspondent banking will always exist in a world where banks have to talk to other banks to conduct money transmissions. This view is shared at Manufacturers Hanover, where Joseph Long-aberdi, a banking vice president and senior representative, believes funds transfer business is still the major product over which correspondent banks wage battle. But while the need to balance interbank accounts remains a core function of the business, the complexion of the funds passing through the payments system has altered dramatically. The rise and rise of financial activity has displaced trade - related flows, particularly in the period after Big Bang, until today around 90 per cent of the business consists of financial transactions, estimates Mr. Cormack. Volumes continue to rise significantly in the major clearing centres, largely feeding off growth in securities processing and foreign exchange. The value of dollar - dominated transactions passing through New York's clearing house inter - bank payments system (Chips) increased by 23.7 percent last year to a daily average of $ 526 billion, equivalent to 126 840 transactions a day, and compared with $ 425 billion and 113 758 transactions in 1986. In London's sterling market the value of daily transactions passing through the clearing house automated payments system (Chaps) climbed by 28.5 percent in the year ending March 1988 to ￡45 billion, or 23 441 transactions a day, compared with ￡3 billion and 20 958 in the previous months. Keeping pace with growth has not been easy, particularly for the banks which for reasons of size, cost and strategy have been confined to a marginal role in the business. Commitment to the technological infrastructure is vital. Five years ago Manufacturers Hanover had 75 million invested in a worldwide telecommunications network. Anyone who baulked at such an investment five years ago would find it difficult to enter the market today.

单选题The People's Bank of China shall ______ and exercise supervision and control over the financial industry under the leadership of the State Council. A. formulate and implement monetary policies B. invent and use monetary policies C. provide and harness monetary policies D. create and apply monetary policies

单选题The reliability principle requires that accounting information be dependable--free from significant error and bias. Users of accounting information rely on its truthfulness. To be reliable, information must be verifiable by people outside the business; Financial statement users may consider information reliable if independent experts would agree that the information is based on objective and honest measurement. Consider the error in a company's failure to accrue interest revenue at the end of an accounting period. This error results in understated interest revenue and understated net income. Clearly, this company's accounting information is unreliable. Biased information -- data prepared from a particular viewpoint and not based on objective facts -- is also unreliable. Suppose a company purchased inventory for $ 25. 000. At the end of the accounting period, the inventory had declined in value and can be replaced for $ 20 000. Under the lower of cost or market rule, the company must record a $ 5 000 loss for the decrease in the inventory's value. Company management may believes that the appropriate value for the inventory is $ 22 000, but that amount is only an opinion. If management reports the $ 22 000 figure, total assets and owner's equity will be overstated on the balance sheet. Income will be overstated on the income statement. To establish a reliable figure for the inventory's value, management could get a current price list from the inventory supplier or call in an outside professional appraiser to revalue the inventory. Evidence obtained from outside the company leads to reliable, verifiable information. The reliability principle applies to all financial accounting information --from assets to owner's equity on the balance sheet and from revenue to net income on the income statement.

单选题Cash advances under factoring are not loans, since ______.

单选题Based on Exhibit 1, the underlying economic pension expense ($ millions) for Duban for 2007 would be closest to: ()

单选题He wants to get a loan to ______ some improvements in his factory. A. fluctuate B. adjust C. finance

单选题______ money refers to currency issued on the basis of bank's credit instead of gold reserve.

单选题A.Retailbusinessneedsalotofcash.B.Wholesalebusinessneedsonlycreditcards.C.Retailandwholesalebusinessesarequitethesame.D.Retailandwholesalebusinessesaredoneindifferentways.

单选题Possible masons for unbalanced statements are ______.