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单选题Busy Company is a retailer. Most of its sales are made on credit terms. The following information relates to the first 4 years. Year 1 Year 2 Year 3 Year 4 ＄ ＄ ＄ ＄ Trade Debtor as at 31 December 500,000 400,000 550,000 600,000 Bad debt written off for the year ended 31 December - 30,000 10,000 29,000 Busy Company decides to set aside a provision for bad debts equivalent to 5% of trade debtors as at year end. Required: (a)Show how the provision for bad debts would be disclosed in the balance sheet as at 31 January Year 1 to Year 4. (b)Calculate the bad debt expenses for the respective profit and loss account for each of the 4 years.

单选题An increase of $1,000 in bank deposits will: ()

单选题Normally, ______ capital loans are secured by accounts receivable or by pledges of inventory and carry a floating interest rate on the amounts actually borrowed against the approved credit line.

单选题It is very reasonable to print the signature of the customer on the traveller's cheque.

单选题In what way do banks act as "market - makers" in foreign exchange markets?

单选题The original issuer of a security is referred to as a borrower, and the purchaser is referred to as a lender. Most securities traded in the secondary markets belong to one of two broad classifications: bonds or stocks. Bonds are credit instruments redeemable in a given number of dollars and yielding a fixed return. Important characteristics of bonds include face (or par) value, maturity date, and coupon rate. Face values for most bonds are 5; 1 000, although some government issues have $ 10 000 face values. Face value represents the total amount of cash payable to the owner at the bond's maturity date, which can range from 1 to 30 years. Prior to maturity, yearly coupon payments equal to the coupon rate times the face value are paid. These coupons represent a profit to the bond owner. Coupon rates on newly issued bonds closely follow the level of interest rates in the economy. Once set in the initial primary market sale, however, the coupon on a given issue will not change in response to changing interest rates in the economy. Instead, the market price of the bond changes. When a bond's coupon rate is equal to the general level of interest rates prevailing in the economy, the bond's market price will be equal to its face value. When the coupon rate is higher than prevailing interest rates, the bond will sell at a premium over its face value. When the coupon rate is lower than prevailing interest rates, the bond will sell at a discount from its face value. Interest on bonds constitutes a legal obligation, and failure to pay it may result in bankruptcy. Preferred stocks are similar to bonds in that they have stated face values (often 100) and a specified dividend payment (similar to a bond's coupon). They differ from bonds because they do not have a scheduled maturity date and because yearly dividends may remain unpaid for a few years without forcing the issuer into bankruptcy. Common stocks have no specified yearly cash payments or maturity date. These securities have an infinite life on which cash will be earned only if the issuer has satisfactory profits. Because the cash returns on bonds are the most certain, they are viewed as the least risky investment and provide the lowest expected rate of return. Preferred stocks are viewed as more risky than bonds and less risky than common stocks. Common stocks are the most risky and provide the largest expected returns.

单选题Only what happens if the supply is less than demand? （　　）

单选题 Passage 3 Security is required on loans for several reasons. One of the most common is probably the borrower's financial weakness. Such weakness may be indicated by several factors, including heavy obligations to creditors, poor management, and insufficient income. Borrowers in this financial condition can strengthen their credit by pledging certain assets. Having a secured loan may also be a psychological advantage for a bank. As long as the borrower has greater equity in the pledged assets than does the bank and the bank is in a preferred position and can foreclose in the event the loan agreement is broken, the borrower has a strong incentive to repay the obligation. The length of a loan also has a bearing on whether it will be secured. As the term of the loan lengthens, the risk of non-repayment increases. Loans for purchasing real estate are nearly always secured, especially if the funds are borrowed for long periods of time, because of risk of non-repayment. Unsecured loans are based more exclusively on the borrower's integrity and financial condition, expected future income, and past record of repayment. Contrary to popular belief, the largest loans and the greatest dollar volume of loans made by some banks are often granted on an unsecured basis. The largest commercial borrowers are able to borrow on an unsecured basis. Some companies are considered by banks to be prime borrowers, and in many cases they receive the most favorable interest rate. Such companies have competent management, products and services that are well accepted in the marketable, relatively stable profits, and a strong financial condition. They provide their banks with financial statements from which it is relatively easy to determine their financial condition and keep track of their progress. Business firms are not the only ones who borrow on an unsecured basis—many individuals enjoy this privilege. Persons who own their homes, have a steady job which they have held for years, and have a record of prompt payment both at the bank and at retail stores are commonly in a position to borrow on an unsecured basis. An applicant's ability and willingness to pay are projected into various situations.

单选题 Directions: There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.{{B}}Passage One{{/B}} The bank {{U}}(56) {{/U}} borrowers enough interest to pay the expense of the bank and have something left over for {{U}}(57) {{/U}}. The interest cannot be higher than the legal rate, which is established by state law and in most states is 6% per year. {{U}}(58) {{/U}} big loans, the interest rate is much less, even as low as 2%. The rate depends on the money market, when there is plenty of money {{U}}(59) {{/U}} to be borrowed, banks charge low rates of interest. A savings bank may pay its depositors 2% and lend the money at 3.5% or 4%. But when money is tight, interest rates go up, and a savings bank may try to {{U}}(60) {{/U}} depositors by offering 4% or 4.5% or even more and lending the money at 5% or 6%.

单选题Accounting practices rest on certain guidelines. The rules that govern how accountants measure, process, and communicate financial information fall under the heading GAAP, which stands for generally accepted accounting principles as follows: The Entity Concept The most basic concept in accounting is that of the entity. An accounting entity is an organization or a section of an organization that stands apart from other organizations and individuals as a separate economic unit. From an accounting perspective, sharp boundaries arc drawn around each entity so as not to confuse its affairs with those of other entities. The Reliability ( or Objectivity) Principle Accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible. This is the reliability principle. Reliable data are verifiable. They may be confirmed by any independent observer. Ideally, then, accounting records are based on information that flows from activities that are documented by objective evidence. Without the reliability principle, also called the objectivity principal, accounting records would be based on whims and opinions and would be subject to dispute. The Cost Principle The cost principle states that assets and services that are acquired should be recorded at their actual cost (also called historical cost). Even though the purchaser may believe the price paid is a bargain, the item is recorded at the price paid in the transaction. The cost principle also holds that the accounting records should maintain the historical cost of an assets for as long as the business holds the assets. There, are also the Going- Concern Concept and the Stable - Monetary- Unit Concept.

单选题 Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and question will be spoken only once. During the pause, you must read the four choices marked A, B, C, 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Most banks would hesitate to commit their scarce reserves to such a customer unless there was good prospect of a ______ in the customer's circumstances.

单选题Which of tile following statements is the mast accurate?

单选题In the case of pledge, ______.

单选题The result is that companies worldwide have been forced to come to ______ with their financial risks.

单选题Ten months later, before a company can produce another annual report, it goes ______.

单选题Harper & Grant Ltd. is a well - known and respected trading company. We handle imports directly from manufactures in 35 different countries, and currently export to 46 different countries worldwide. We are looking for enthusiastic people to work in our office in Bermuda on temporary 3 -, 6 - and 9 - month contracts. Applicants must be able to speak and write at least one foreign language fluently and can be nationals of any country. Experience in import/export will be an advantage, but as special training will be available this is not essential. The main requirements arc a willingness to work as a member of a team, to cope with pressure, and to be prepared occasionally to work long hours when necessary. There are several posts available and long -term prospects are good, though initially all successful applicants will be contracted for a maximum of 9 months. The salary we will offer is excellent. We will pay for your return air fare and provide adequate accommodation at a nominal rent. Please apply in your own handwriting, enclosing your resume to Sally Langley, Personnel Office, Harper &Grant Ltd, 1084 Great West Road, London W25.

单选题A pidend paid by a company is