单选题Which of the following is long- term liability?

单选题 {{B}} Credit and credibility{{/B}} In pursuit of a new source of profit, many of the entities that call themselves banks have strayed far from the business of taking and safeguarding the public's deposits and running the payment system. Competition has forced banks to range so far, in so many directions and at such a lick that, perhaps for the first time since the days of Shylock, it is necessary to stop to ask quite what is a bank. The gales of change will leave many banks looking different in form and substance from a decade ago. Banking is traditionally thought of as one business, not least of all by bankers. Yet, as Mr. Thomas Steiner of Mckinsey, a management consultancy, points out, it comprises around 150 different lines of business. There is little that is special about many of them. In future, plenty of these activities will be done by others, either instead of or as well as by banks. On the other side of the coin, many of the things that other financial institutions now do will be- come the business of some banks. Banking will still be a principality in the kingdom of financial services, but its heartland will shrink. Outsiders will move in. Much of the native population will settle elsewhere. The bankers' diaspora will be wide. Crossing the divides This change is already seen in America, Europe and Japan. American and Japanese commercial banks are pushing their merchant banking as deeply into the securities business as they feel the regulators will let them get away with. Citicorp and J. P. Morgan have all been al- lowed to set up securities - underwriting affiliates slipping through the Section 20 loophole of the legislation separating commercial and investment banking. The two businesses have become so interwoven that, as Mr. Dennis Weatherstone, president of J. P. Morgan, says, we really have to rip the fabric to separate the threads. For their part, investment banks and securities houses have become direct suppliers of credit to wide range of financial and non - financial customers. They offer investment products that are virtual substitutes for interest - earning demand deposits. They own and operate non - bank banks that give access to payment systems. In short, they have become providers of services that commercial banks have traditionally offered. Though forbidden from commercial banking in their home market, American and Japanese investment banks and securities houses happily run such banking affiliates abroad. It is not only the boundaries between the banking and securities industries that are becoming blurred. So are those with insurance and commerce. Bankers are becoming everyday occurrences. Japan's Nippon Life joined the act in February by taking a 4% stake in Spain's Banco Bilbao Vizcaya for 250m. At home, Japanese insurers already have affiliations with banks, through the web of cross - shareholdings of the big industrial groups. America's third biggest re- tail stock broking firm, Pru - Bache, has dipped in the waters of banking by buying a small bank in Georgia and more recently a thrift. Everywhere ordinary commercial firms are making deep insurance into financial services. Retailers and manufacturers own securities companies, insurance firms' thrifts and non - bank banks. They offer a wide range of credit, investment - banking and insurance services, to companies and individuals alike.

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}} There are two types of cheques--the "crossed" and the "open" cheques. A "crossed" cheque is so called because it has two parallel lines across it--an "open" cheque does not. The effective difference is that a "crossed" cheque would not normally be cashed, but would need to be paid in to an account. An "open" cheque can be cashed by the payee at the branch of the bank upon which it is drawn. Should a "crossed" cheque fall into some unauthorized person's hands, he could not cash it. As it must go through an account, the bank is able to trace the presenter of the cheque and therefore the money may not be lost. Once an "open" cheque has been cashed over the counter of a bank by an unauthorized person, the money may never be recovered. For this reason, it is always wise to use "crossed" cheques when paying bills or sending cheques through the post. Should a customer wish to "cross" an "open" cheque before issuing it, he can do so simply by ruling two ink lines across it. To "open" a "crossed" cheque in order to draw cash for himself at his own branch, he simply writes "pay cash" between the parallel lines and adds his signature beneath.

单选题Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. Bishop Ltd. received an advanced payment of $10,000 on December 1, for rent on a property for December and January. On receipt they correctly recorded it as cash and unearned revenue. If at December 31, their year-end, they failed to make an adjusting entry related to this payment, ignoring taxes, what would the effect on the financial statements for the year be? ()

单选题The primary source of funds of fire and casualty insurance companies includes ______. A. savings deposits B. premiums from policies C. commercial paper, stocks and bonds D. all of the above

单选题The Bretton Woods Conference was convened in 1944 to find ways to avoid the 1 international economic difficulties of the post - World Wm" I era. It 2 the International Bank for Reconstruction and Development, commonly called the World Bank. This organization, 3 in Washington, D.C., is owned by over 125 member countries. Each of them contributes 4 to its operations. The largest 5 are the major industrial countries of North America and Europe.

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 and 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.{{B}}Passage One{{/B}}

单选题{{B}}Passage Two{{/B}} A major type of risk that banks face is credit risk or the failure of a counter-party to perform according to a contractual arrangement. This risk applies not only to loans but also to other on-and-off balance sheet exposures such as guarantees, acceptances and securities investments. Serious banking problems have arisen from the failure of banks to recognize impaired assets, to create reserves for writing off these assets, and to suspend recognition of interest income when appropriate.

单选题The purpose of analyzing cash flow is to ______.

单选题A cheque payable to ABC Company is credited to the personal account of Mr. Gao. The bank ______. A. is correct in crediting the account B. is merely doing what is requested by its customer C. has committed an act of negligence D. will make a claim on its principal

单选题The liabilities are classified as current or long- term liabilities according to ______.

单选题{{B}}Passage Two{{/B}} Apart from borrowing from hanks, a firm or an individual can obtain funds in a financial market in two ways. The most common method is to issue a {{U}}(61) {{/U}}, such as a bond or a mortgage, which is a {{U}}(62) {{/U}} by the borrower to pay the holder of it at {{U}}(63) {{/U}} until a specified date, when a final payment is made. The {{U}}(64) {{/U}} of it is the time of expiration date. The second method of raising funds is by issuing {{U}}(65) {{/U}}, such as common stock, which are claims to share in the net income and the assets of a business.

单选题Passage 1 Commercial bank deposits, including demand deposits, are subject to immediate withdrawal during regular banking hours at the request of the depositor with the exception of certain time deposits, discussed in this section. Demand deposits may be withdrawn in the form of currency or coin, or they may be transferred to another account at any commercial bank. Demand deposits at commercial banks can be transferred by bank check and are sometimes called checking accounts. No money interest is paid on demand deposits. Checkable NOW accounts, or share drafts at credit unions, which are available to consumers but not business depositors, pay interest. Technically, they are savings accounts that are accessible by a negotiable order of withdrawal. Savings deposits at commercial banks and thrifts can usually be withdrawn as currency or coin, or as a cashier's check of the bank (a check drawn against the issuing bank) ; they may be trans-fenced into the depositor's demand deposit account at the same bank, although technically the bank may refuse to withdraw or transfer a savings account for 30 days. Time deposit accounts with specified maturities are exceptions to the convention that commercial bank deposits should be convertible to cash on demand. Prior to the date of maturity, the bank may refuse to exchange such a time deposit claim or may impose a penalty fee. The time deposit pays interest, giving it one of the characteristics of other private bonds. Consumer or personal time deposits include CDs in denominations of less than $100,000. They are non-negotiable; that is, they cannot be sold and must be returned to the issuing bank by the original purchaser. Until 1976, there were effective ceilings on interest payments. In 1973, consumer CDs were first authorized with ceiling interest yields closer to market interest rates. They were called money market certificates.

单选题For a profit-maximizing firm, the price level equals its marginal revenue (MR) when: ()

单选题Government securities would appear on a commercial bank's balance sheet as ______. A. an asset B. reserves C. part of net worth D. a liability

单选题Service charges banks obtain are not enough to cover the bank costs.

单选题Insurance policies usually contain a (56) clause that excludes a fixed amount of the loss from (57) Casualty insurance policies frequently contain a coinsurance clause in the contract. A coinsurance clause provides that the insurance company shall be liable (58) only a portion of any loss (59) by the insured unless the insured carries insurance which totals a certain percent, frequently 80-90 percent of the fair value of the asset. In the (60) of a loss, the insured recovers from the insurance company that portion of the loss which the face of the insurance policy bears to the amount of insurance that should be carried as required by the coinsurance clause.

单选题A financial system must therefore meet the needs of such enterprises by locating, securing, and ______ funds for firms which wish to invest.