单选题We're paying for the furniture we bought in monthly ______.

单选题A profit and loss statement indicates the company's ______. A. assets and liabilities at a particular point in time B. revenues and expenses for a specific period of time C. financial resources at a particular point in time D. performance at a particular point in time

单选题Internet banking can save banks' resources of human power and capital.

单选题Mr. Ting's net cash inflow from operating activities for the year ending 30 June is＄123,000. The following adjustments were included in the supplementary schedule reconciling cash flow from operating activities with net income: Depreciation ＄38,000 Increase in net accounts receivable 31,000 Decrease inventory 27,000 Increase in accounts payable 48,000 Increase in interest payable 12,000 Net income is ______. (a)＄29,000. (b)＄41,000. (c)＄79,000. (d)＄217,000.

单选题A note receivable is a negotiable instrument, which means it is readily transferable from one business or person to another and may be sold for cash. To get cash quickly, payees sometimes sell a note receivable to another party before the note matures. The payee endorses the note and hands it over to the note purchaser--often a bank--who collects the maturity value of the note at the maturity date. Selling a note receivable before maturity is called discounting a note receivable because the payee of the note receives less than its maturity value. This lower price decreases the amount of interest revenue the payee earns on the note. Giving up some of this interest is the price the payee is willing to pay for the convenience of receiving cash early. Assume that the maturity date of the Dorman note is January 18, 1995 and that General Electric discounts the Dorman note at First City National Bank on December 9, 1994. The discount period--which is the number of days from the date of discounting to the date of maturity (this is the period the bank will hold the note) -- is 40 days; 22 days in December, and 18 days in January. Assume the bank applies a 12 percent annual interest rate in computing the discount value of the note. The bank will want to use a discount rate that is higher than the interest rate on the note in order to increase its earnings. GE may be willing to accept this higher rate in order to get cash quickly. The discounted value, called the proceeds, is the amount that GE receives from the bank. The proceeds are computed as follows: General Electric's entry to record discounting the note is: Dec. 9, 1994cash $ 15 170 Note receivable Dorman Builders $ 15 000 Interest Revenue $ 170 TO RECORD DISCOUNTING NOTE RECEIVABLE At maturity the bank collects 15 375 from the maker of the note, earning 205 of interest revenue. Observe two points in the above computation: (1) The discounting is computed on the maturity value of the note (principal plus interest) rather than on the original principal amount, and (2) the discounting period extends backwards from the maturity date (January 18, 1995) to the date of discounting (December 9, 1994).

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Which of the following is current liability?

单选题Checks are attractive because they are readily accepted and provide formal ______ of payment.

单选题Why is it necessary for banks to maintain adequate liquidity?

单选题Which of the following is not the difference between a transferable credit and a back - to - back credit?

单选题The management of a firm needs to use the results of both financial accounting as well as managerial accounting.

单选题To finance the national debt, the government issues a variety of debt securities. The most widely held liquid security is the Treasury bill, which is commonly issued by the ministry of finance. However, some Treasury bills, like the Treasury bill of the U.S. government, do not actually pay interest. Instead they are issued at a discount from par ( their value at maturity) . The investor's yield comes from the increase in the value of the security between the time it was purchased and the time it matures. Treasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk. Because even if the government ran out of money, it could simply print more to pay them off when they mature. The risk of unexpected changes in inflation is also low because of the short term to maturity. The markets for Treasury bills in most developed countries are deep and liquid. A deep market is one with many different buyers and sellers. A liquid market is one in which securities can he bought and sold quickly and with low transaction costs. Investors in markets that are deep and liquid have little risk that they will not be able to sell their securities when they want to.

单选题Financial markets have grown more ______ since exchange rates were freed in 1973.

单选题A bill of exchange (draft) is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a stun certain in money, to or to the order of a specified person, or to the bearer. A bill of exchange is either a sight bill or a usance, tenor or term bill. When a bill is payable on demand or at sight, the drawee is required to pay immediately when the bill is presented to him. A bill is payable on demand if it is so specified or if time for payment is not expressed. A bill may be payable within a fixed period after the date of the bill. For example, "pay three months after date..." A bill may be payable within a fixed period after an event which is certain to happen, e.g., "one month after the death of B". A bill may be expressed as being payable within a fixed period after sight. The bill must be, in writing. Therefore, the ordinary rules governing written contracts apply. Oral evidence cannot be admitted to contradict unfulfilled nature or terms of a bill of lading. A bill must be "addressed by one person to another" se that there must be one person as drawer, and another as drawee. It is possible to have one or joint drawees, but not drawees in the alternative, i.e. A and B but not A or B.

单选题Countries like the UK, wishing to maintain their own attractions, may well push their own rates lower, ______ further rounds of tax cutting.

单选题______ are assets that are expected to be converted to cash, sold, or consumed during the next 12 months or within the business's normal operating cycle if longer than a year.

单选题 Passage 3 Though the glass building is modern enough, such scenes suggest that little has really changed at London's ancient insurance market. For centuries, brokers and underwriters have performed similar rituals, in good times and in bad notably in the early 1990s, when Lloyd's suffered such huge losses that it almost went under. But since it pulled back from the abyss in 1996, Lloyd's has reinvented itself. It clings tenaciously to its historic trappings; but, in substance, it is as though it had died and come back in a new form. To see how Lloyd' s has changed, look at who invests there. This year, Britain's largest insurer, CGU, has moved its marine operation into Lloyd's. March ＆ McLennan, the world's largest insurance broker, has helped to found a new Bermudian insurer that will underwrite from Lloyd's. And the market has welcomed its first big multinational, Smith Kline BeeCham, a drags giant, which has launched an in-house (or "captive") insurer. Other arrivals read like a Who's of the industry, including Warren Buffet's Berkshire Hathaway, Ace, a Bermudian insurer, and America's Paul. This adds up to a ringing endorsement of Lloyd's renewed viability, long-term profitability and competitiveness, none of which could have been taken for granted as recently as 1996. Then the market had racked up the world's biggest-ever commercial loss(8 billion $13 billion)in five years. It had mined at least 1,600 of its 34,000 members ("names") , all underwriting with unlimited liability; some committed suicide. Lloyd's seemed doomed.