单选题 Passage 3 Plain and simple, stock is a share in the ownership of a company. Stock represents a claim on the company's assets and earnings. As you acquire more stock, your ownership stake in the company becomes greater. Whether you say shares, equity, or stock, it all means the same thing. Holding a company's stock means that you are one of the many owners (shareholders) of a company, and, as such, you have a claim (albeit usually very small) to everything the company owns. Yes, this means that technically you own a tiny sliver of every piece of furniture, every trademark, and every contract of the company. As an owner, you are entitled to your share of the company's earnings as well as any voting rights attached to the stock. A stock is represented by a stock certificate. This is a fancy piece of paper that is proof of your ownership. In today's computer age, you won't actually get to see this document because your brokerage keeps these records electronically, which is also known as holding shares "in street name". This is done to make the shares easier to trade. In the past when a person wanted to sell his or her shares, that person physically took the certificates down to the brokerage. Now, trading with a click of the mouse or a phone call makes life easier for everybody. Being a shareholder of a public company does not mean you have a say in the day-to-day running of the business. Instead, one vote per share to elect the board of directors at annual meetings is the extent to which you have a say in the company. For instance, being a Microsoft shareholder doesn't mean you can call up Bill Gates and tell him how you think the company should be run. The management of the company is supposed to increase the value of the firm for shareholders. If this doesn't happen, the shareholders can vote to have the management removed well, this is the theory anyway. In reality, individual investors like you and I don't own enough shares to have a material influence on the company. It's really the big boys like large institutional investors and billionaire entrepreneurs who make the decisions.

单选题The parties agreement to use a particular Incoterm ______.

单选题To prevent money laundering, ______.

单选题A.Ourpublicityisdealtwithbyaprofessionalcompany.B.Apublicrelationproblemarises.C.Thepublicrelationofficerhasafirmattitudeinhandlingtheproblem.D.Ourcompanywillgopublic.

单选题Securities subject to mortgage are ______.

单选题Which belongs to the Tightening of fiscal policy tools? ( )

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单选题Combined transport bill of lading may evidence that ______.

单选题Under FOB terms the bill of lading would state ______.

单选题The available resources for the IMF to finance lending are ______. A. gold reserves B. quotas C. currencies of strong economies D. all of the above

单选题Bemuse checks are also accepted as payment for purchases, ______ account deposits are considered money as well.

单选题If a bank negotiates a credit, it will ______.

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单选题Fractional reserve banking is the practice of keeping only a traction of deposits in the form of reserves. Depository institutions (commercial banks, savings and loan associations, mutual savings banks, and credit unions) are able to do this because only a small fraction of their depositors is expected to turn up during any given day or week to withdraw their deposits. The bulk of deposits is invested in financial assets, from which the depository institutions earn most of their income. Those income-earning financial assets range from bills, notes, and bonds issued by private corporations and by the federal, state, and municipal governments to mortgage loans for housing. Each type of financial institution has a different type of portfolio of assets, which reflects their area of special expertise in managing financial assets. To demonstrate how depository institutions create money under the present system of fractional reserve banking, hypothetical example of a commercial bank, Southwest National Bank, will be used. It is assumed that federal regulations require Southwest National Bank to hold a percentage of its deposits in the form of cash reserves. This is the reserve requirement. The reserves may be held in the form of currency and coin on the premises, a form of reserves called vault cash, or they may be held in a deposit at a regional Federal Reserve Bank. Assume that the Southwest National Bank management, taking into account the reserve requirement and the projected amount of withdrawals arid deposits, decides to keep 20 percent of its deposits in rescues.

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单选题{{B}}Passage Two{{/B}} Funds derived from term loans are used for a number of purposes. One of the most important is the purchase of buildings and equipment needed by the borrower to maintain a competitive position and keep pace with the demand for the firm's products. In addition, increased sales usually call for increased working capital, which may be financed through term borrowing. Term loans are used to finance new ventures, at which a firm adds a new product or integrates vertically to produce some portion of the raw materials needed in its operations. Term borrowing is also used to refinance existing obligations. Frequently, the borrower needs to draw down the funds over a period of many months, as in the case of a major plant expansion or the acquisition of a fleet of aircraft. In such cases it is common practice to combine the term loan agreement with a commitment agreement or revolving credit. The lender agrees to make funds available to the borrower as they are needed over a period of, say, two years up to a specified total amount. The agreement also provides that at the end of the commitment period the entire amount borrowed to that date shall be incorporated in a term loan. For an arrangement of this kind, the borrower is normally required to pay a commitment fee of from one-fourth to one-haft of 1 percent on unborrowed amounts during the period of the bank's commitment.

单选题Through open account, the seller will. manufacture goods before payment is required.

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单选题The trade credit by way of Forfaiting is provided ______.

单选题{{B}}Passage Three{{/B}}