单选题The monthly statement gives you a record of all the ______ of your checking account.

单选题The most basic tool of the account is the accounting equation. This equation presents the assets of the business and the claims to those assets. Assets are economic resources of a business that are expected to be of benefit in the future. Cash, office supplies merchandise, furniture, land and buildings are examples; Claims to those assets come from two sources. Liabilities are "outside claims", which are economic obligations, debts payable to outsiders. These outside parties are called creditors. For example a creditor who has loaned money to a business has a claim-- a legal right -- to a part of the assets until the business pays the debt, "insider claims" are called owners' equity or capital. These are the claims held by the owners of the business. Owners' equity is measures by subtracting liabilities from assets.

单选题______ relates to the liability of the issuing bank, whereas ______ relates to the responsibility of the correspondent bank or other banks.

单选题Still in the above case, three months after the transaction, the market price of the same computer rose by US $ 150. So the price of the computer shall bc booked at the price ______.

单选题Usually, the sales invoices are purchased by the factor after ______.

单选题Container bills of lading are. issued ______.

单选题What determines the rate of exchange between currencies will be examined later in this booklet, but first it is useful to consider the mechanics of international transactions. To enable a UK importer to pay his American supplier, for example, the facilities of two or more banks are used, firstly in handling the often complex documentation and secondly, through the foreign exchange market, in obtaining the currency required. At one time payments to and from other countries were made by bills of exchange; hence in part the term "exchange rate", which was maintained even though other methods of payment have largely superseded the bill of exchange. The British importer will probably need to pay his American supplier in dollars and his British bank can offer him several alternative methods of settlement. It can provide him with a banker's draft drawn in dollars. The bank is able to do this because it will have an account with another bank (called a correspondent bank) in an American city and it simply issues a dollar cheque or draft drawn on that account. The British importer can then send this draft by airmail to the supplier. Since there is a danger that the draft may be lost or fall into the wrong hands' the safer and more normal method would be for the British bank to arrange for payment by mail transfer. Instructions are sent by airmail to the correspondent bank in the US to pay on behalf of its customer the required sum to the named recipient from the British bank's dollar account. This mail transfer system is very flexible since the instructions for payment can be varied or elaborated to suit practically every kind of requirement.

单选题In 1944, officials from forty - five nations assembled for a historic meeting at Bretton Woods in the United States. Even though World War II was still going on, international monetary authorities and world leaders were planning for the future. They wanted to make provisions for the economic problems they expected to follow by the end of the war. These efforts resulted in the formation of the International Monetary Fund. The IMF attempts to encourage monetary cooperation, to promote excharige rate stability, and to plan international arrangements on ex- change rates. In addition, the Fund attempts to prevent competitive exchange rate reductions among its members. It also tries to eliminate or reduce any foreign exchange controls that slow down world trade. In order to attain these objectives, however, very large financial reserves are needed. The necessary reserves are obtained in the form of deposits, which are required from each member when joining the Fund. The size of the deposit is known as the member's quota. The quota is the heart of the International Monetary Fund. The Fund authorities set the size of the quota. It is based on the economic importance of the country as shown by such indicators as populations, international trade, and GNP. Traditionally, the quota has been paid in a combination of gold and the member's own currency, with 25 percent in gold and the rest in currency. It is important because it determines the maximum amount that the member can draw out in times of difficulty. Sometimes new members have succeeded in reducing the quotas set by the IMF. They have usually regretted this decision when they later needed to withdraw large a- mounts from the Fund. Perhaps the main function of the IMF has been to help members with balance of payments problems so as to prevent a monetary crisis. For instance, a small country could experience storm, which greatly reduced its main export crop. Because of the considerable shortfall in ex- port, the country would earn much less foreign exchange than usual. As a result, there would be a current account deficit. Tile country could have difficulty in paying for essential imports, for its official reserves might not provide enough foreign exchange. Without help from abroad, the country could solve the payments problem in two ways. It could allow its currency to devalue because of the reduced international demand, or it could prevent the exchange rate from falling by using exchange control. Both of these methods seem too dramatic. However, because the country's problems are very short - term ones. Under these circumstances, the Compensatory Finance Facility can be used to obtain the necessary foreign exchange.

单选题Money market securities are ______. A. essentially issued by governments, financial institutions, and large corporations B. very liquid and earns high return C. denominated in small sums so that individual investors can deal in them D. purchased by individual investors directly

单选题You customer asks your bank to handle a colleetion outwards on his behalf. Your bank are ______. A. the reimbursing bank B. the negotiating bank C. the remitting bank D. the collecting bank

单选题The lease is a flexible device for business use and the lessee does not have to tie up a large amount of funds and does not have to pay tax.

单选题The joint- equity banks are not new among the commercial banks and operate on an entirely commercial basis.

单选题______ are essentially involved to a cheque. A. Drawer, drawee, and payer B. Holder, drawer, and payer C. Payee, drawer, and drawee D. Payee, drawee, and holder

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单选题If a trade debtor of ＄20,000 has been wrongly posted to the credit of the trade creditor, but has been correctly entered in the buyer's account, the total of the trial balance would show ______. (a)the credit side to be ＄20,000 more than the debit side (b)the debit side to be ＄20,000 more than the credit side (c)the credit side to be ＄40,000 mom than the debit side (d)the debit side to be ＄40,000 more than the credit side

单选题With back - to - back credits, party (parties) affected by the back - to - back aspect is (are) ______.

单选题Which of the following would NOT cause a shift upward of the consumption scbedule? (a)An increase in household wealth. (b)An expectation of rising incomes in the future. (c)A reduction in income taxes. (d)An increase in household disposable income.

单选题There are usually two kinds of ledgers: 1. General ledger: It contains the controlling accounts for each of the subsidiary ledgers. A controlling account in the general ledger shows in summary form what appears in detail in the corresponding subsidiary ledger. There is often a separate controlling account for each subsidiary ledger. Thus Due from Banks controlling account shows in summary form the totals of all the debits and credits appearing in the correspondent banks' accounts in the Due from Banks subsidiary ledgers. The balances in the general ledger for asset, liability and capital accounts become the basis for data set forth in the balance sheet. The balances in the income and expense accounts become the basis for data set forth in the Profit and Loss Statements. 2. Subsidiary ledger: It is a ledger maintained for subsidiary accounts of a homogeneous nature. The balances of the account in the subsidiary ledger equal the total of the balance shown in the controlling account for the particular subsidiary ledger maintained in the general ledger. The usual subsidiary ledgers in banking business are the depositors' ledger, debtors' ledger, income ledger, expense ledger, and others. In the books of ×× Bank, there are some 107 accounting items which record and reflect its entire business activities and achievements. The books are divided into four categories, that is, Asset, Liability, Joint Asset and Liability, Loss and Income.

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