2006年中英会计考试题doc

2006年9月翻译资格中级英语口译笔试真题及答案SECTION 1: LISTENING TESTDirections: In this part of the test, you will hear a passage and read the same passage with blanks in it. Fill in each of the blanks with the word or words you have heard on the tape. Write your answer in the corresponding space in your ANSWER BOOKLET. Remember you will hear the passage ONLY ONCE.British people are far more sophisticated about beverages than they were 50 years ago. Witness the Starbucks revolution and you’ll know where ___________ (1) go es. However, spurred on by recent studies suggesting that it can cut the risk of___________ (2) and retard the aging process, tea is enjoying a ___________ (3). Although tea is available in more places than ever, it remains to be _____________ (4) of a typical British family.If you are invited to an English home, _____________ (5) in the morning you get a cup of tea. It is either brought in by a heartily _____________ (6) or an almost malevolently silent maid. When you are _____________ (7) in your sweetest morning sleep you must not say: ‘Go away, you _____________ (8).’ On the contrary, you have to declare with your best five o’clock smile: ‘Thank you very much. I_____________ (9) a cup of tea, especially in the morning.’ If they leave you alone with the liquid you may pour it _____________ (10)!Then you have ___________ (11); then you have tea at 11 o’clock in the morning; _____________ (12); then you have tea for tea; then after supper; and again at eleven o’clock _____________ (13).You must not refuse any additional cups of tea under the _____________ (14): if it is hot; if it is cold; if you are _____________ (15); if you are nervous; if you are watching TV; _____________ (16); if you have just returned home; if you feel like it; if you do not feel like it; if you have had no tea ______________ (17); if you have just had a cup.You definitely must not ______________ (18). I sleep at five o’clock in the morning;I have coffee for breakfast; I drink innumerable _____________ (19) during the day;I have the _____________ (20) even at tea-time!Part B: Listening Comprehension1. StatementsDirections: In this part of the test, you will hear several short statements. These statements will be spoken ONLY ONCE, and you will not find them written on the paper; so you must listen carefully. When you hear a statement, read the answer choices and decide which one is closest in meaning to the statement you have heard. Then write the letter of the answer you have chosen in the corresponding space in your ANSWER BOOKLET.1. (A) The program on Channel Eight reminds me of TV commercials.(B) The product advertised in the TV commercial cannot help cure my illness.(C) I don’t watch TV that much, because of the omnipresent advertisements.(D) I have to sit on the sofa, because I am too sick to stand in front of thetelevision.2. (A) The plane arrived at 7:30.(B) The plane arrived at 8:00.(C) The plane arrived at 9:00.(D) The plane arrived at 10:00.3. (A) I’ll ask someone else to read and check this agreement for erro rs.(B) I’ll think more about the agreement before making a decision.(C) It’s obvious that I’ll discuss the agreement with my assistant first.(D) It’s out of question that I should get into any agreement with you.4. (A) The better members decided to cancel the meeting.(B) Less than half of the committee was away on business trips.(C) It’d be better if no one had attended this morning’s committee meeting..(D) The meeting was cancelled because of low attendance.5. (A) Supermarkets in the inner city and the suburbs are usually owned by the same company.(B) Products in grocery stores are more expensive than those in supermarkets.(C) There is a price difference for the same product even in shops run by the same company.(D) People prefer to shop in supermarkets, which are mostly located in the suburbs, with free parking space.6. (A) Many Americans cannot afford higher education because of the soaring college tuition fees and expenses.(B) Sending their children to college is no longer a bigger challenge for millions of Americans.(C) The American government has set the goal that it will eventually stop funding higher education institutions.(D) Nowadays, American parents have to pay more to send their children to college.7. (A) For many university graduates, the jobs they take will not be related to their academic achievements.(B) Because of economic recession, the number of university students majoring in liberal arts is declining.(C) University students who are interested in liberal arts will have more job opportunities upon graduation.(D) With high unemployment rate, many university students will have to opt for transferring to other majors.8. (A) Good business negotiators will never repeat what other people have already restated.(B) Restating by good business negotiators is not an effective way to check the information.(C) Good business negotiators are sometimes curious about other people’s restatements.(D) Restating what others have said is a good strategy for confirming understanding.9. (A) We cannot reach an agreement, let alone a spoken promise.(B) We’d better draft and then sign a written agreement.(C) We generally keep our promises in business transactions.(D) We hope you understand why we are unable to keep our promises.10. (A) I don’t think you have more to say on that topic.(B) I think we’d better talk about that in detail sometime later.(C) I am truly appreciative if you can elaborate on that topic after lunch.(D) I am busy right now, so we might as well discuss it over lunch today.2. Talks and ConversationsDirections: In this part of the test, you will hear several short talks and conversations After each of these, you will hear a few questions. Listen carefully because you will hear the talk or conversation and questions ONLY ONCE. When you hear a question, read the four choices and choose the best answer to that question. Then write the letter of the answer you have chosen in the corresponding space in your ANSWER BOOKLET.Questions 11—1411. (A) Two (B) Three (C) Four (D) Five12. (A) A profit-making private school.(B) A non-profit-making independent school.(C) A state school that is funded by non-governmental sources.(D) A secondary school that is open to the majority of British students.13. (A) Many children are no longer placed in schools according to their academic abilities.(B) Many children can afford to study in private schools, as they become part of the state system.(C) Children from wealthy families no longer choose to go and study in public schools.(D) Cleverer children will be sent to the best private schools in the country fora better development.14. (A) Clever and less bright children will mix well with each other.(B) School authorities will receive more funds from the government.(C) Most students will do well in their entrance examination for the higher education.(D) Every child will have an equal opportunity to go on to higher education. Questions 15—1815. (A) One that is unabridged with detailed definitions.(B) One that contains fewer words and emphasizes on special words.(C) One that contains a broad range of words in common usage.(D) One that spans several volumes and has extensive word histories16. (A) The New Oxford Picture Dictionary(B) The American Heritage Dictionary(C) The Dictionary of Legal Terms(D) The Drinking Water Dictionary17. (A) It lists abbreviations, proper nouns, and tables of measures.(B) It is an unabridged edition providing as many as 500,000 entries.(C) It was randomly compiled and contains as many foreign words as possible.(D) It provides detailed information of famous people and places.18. (A) A school dictionary. (B) A college dictionary.(C) A general dictionary. (D) A specialized dictionary.Questions 19—2219. (A) He’s bought his wife a present. (B) He’s missed a n important phone call.(C) He’s dismissed his new secretary. (D) He’s popped out shopping.20. (A) Talking about the latest fashion.(B) Offering special reductions.(C) Giving bigger discounts to female customers.(D) Pressing on the customer to make a decision.21. (A) Upside down and inside out. (B) Inside out and back to front.(C) With its sleeves as trouser legs. (D) With its pattern upside down.22. (A) A V-necked pullover with short sleeves.(B) A high-necked pullover with long sleeves.(C) A white pullover with a pattern.(D) A blue pullover with a high neck.Questions 23—2623. (A) That of a creator. (B) That of a re-creator.(C) That of a receiver. (D) That of a performer.24. (A) Because we need to concentrate for our quiet thought.(B) Because we want to give full attention to the driving.(C) Because we try to avoid being caught by the patrolling police.(D) Because we intend to be as casual as possible in the driving.25. (A) In the elevator. (B) In the car.(C) In the bathroom. (D) In the church.26. (A) By perceptive and analytical listening.(B) By taking a sonic bath.(C) By attending classical concerts.(D) By listening to an emotional piece of music.Questions 27—3027. (A) His grandfather’s house. (B) His parents’ remarks.(C) A magazine. (D) A coursebook.28. (A) Enjoying visiting zoos. (B) Driving a car.(C) Making money. (D) Taking kids to a museum.29. (A) It died a few years ago. (B) It killed several tourists.(C) It is only a legend. (D) It is a living dinosaur.30. (A) No one has provided an accurate description of the animal.(B) No dead bodies of the animal have ever been found.(C) There are only 500 species living in Loch Ness.(D) The lake is not deep enough for such a huge animal.Part C: Listening and Translation1. Sentence TranslationDirections: In this part of the test, you will hear 5 sentences in English. You will hear the sentences ONLY ONCE. After you have heard each sentence, translate it into Chinese and write your version in the corresponding space in your ANSWER BOOKLET.(1)(2)(3)(4)(5)2. Passage TranslationDirections: In this part of the test, you will hear 2 passages in English. You will hear the passages ONLY ONCE. After you have heard each passage, translate it into Chinese and write your version in the corresponding space in your ANSWER BOOKLET. You may take notes while you are listening.(1)(2)SECTION 2: STUDY SKILLS (45 minutes)Directions: In this section, you will read several passages. Each passage is followed by several questions based on its content. You are to choose ONE best answer, (A), (B), (C) or (D), to each question. Answer all the questions following each passage on the basis of what is stated or implied in that passage and write the letter of the answer you have chosen in the corresponding space in your ANSWER BOOKLET. Questions 1—5The purpose of the American court system is to protect the rights of the people. According to American law, if someone is accused of a crime, he or she is considered innocent until the court proves that the person is guilty. In other words, it is the responsibility of the court to prove that a person is guilty. It is not the responsibility of the person to prove that he or she is innocent.In order to arrest a person, the police have to be reasonably sure that a crime has been committed. The police must give the suspect the reasons why they are arresting him and tell him his rights under the law. Then the police take the suspect to the police station to “book〞him. “Booking means that the name of the person and the charges against him are formally listed at the police station.The next step is for the suspect to go before a judge. The judge decides whether the suspect should be kept in jail or released. If the suspect has no previous criminal record and the judge feels that he will return to court rather than run away—for example, because he owns a house and has a family—he can go free. Otherwise, the suspect must put up bail. At this time, too, the judge will appoint a court layer to defend the suspect if he can’t afford one.The suspect returns to court a week or two later. A lawyer from the district attorney’s office presents a case against the suspect. This is called a hearing. The attorney may present evidence as well as witnesses. The judge at the hearingthen decides whether there is enough reason to hold a trial. If the judge decides that there is sufficient evidence to call for a trial, he or she sets a date for the suspect to appear in court to formally plead guilty or not guilty.At the trial, a jury of 12 people listens to the evidence from both attorneys and hears the testimony of the witnesses. Then the jury goes into a private room to consider the evidence and decide whether the defendant is guilty of the crime. If the jury decides that the defendant is innocent, he goes free. However, if he is convicted, the judge sets a date for the defendant to appear in court again for sentencing. At this time, the judge tells the convicted person what his punishment will be. The judge may sentence him to prison, order him to pay a fine, or place him on probation.The American justice system is very complex and sometimes operates slowly. However, every step is designed to protect the rights of the people. These individual rights are the basis, or foundation, of the American government.1. What is the main idea of the passage?(A) The American court system requires that a suspect prove that he or she is innocent.(B) The US court system is designed to protect the rights of the people.(C) Under the American court system, judge decides if a suspect is innocent or guilty.(D) The US court system is designed to help the police present a case against the suspect.2. What follows ‘in other words’ (para.1)?(A) An example of the previous sentence.(B) A new idea about the court system.(C) An item of evidence to call for a trial.(D) A restatement of the previous sentence.3. According to the passage, ‘he can go free’ (para.3) means _________.(A) the suspect is free to choose a lawyer to defend him(B) the suspect does not have to go to trial because the judge has decided he is innocent(C) the suspect will be informed by mail whether he is innocent or not(D) the suspect does not have to wait in jail or pay money until he goes to trial4. What is the purpose of having the suspect pay bail?(A) To pay for the judge and the trial.(B) To pay for a court lawyer to defend the suspect.(C) To ensure that the suspect will return to court.(D) To ensure that the suspect will appear in prison.5. According to the passage, which of the following statements is true?(A) The American justice system sometimes operates slowly.(B) The police can arrest a suspect without giving any reasons.(C) It is the responsibility of the suspect to prove he is innocent.(D) The jury considers the evidence in the court room.Questions 6—10So you’ve got an invention—you and around 39,000 others each year, according to2002 statistics!The 64,000-dollar question, if you have come up with a device which you believe to be the answer to the energy crisis or you’ve invented a lawnmower which cuts grass with a jet of water (not so daft, someone has invented one), is how to ensure you’re the one to reap the rewards of your ingenuity. How will all you garden shed boffins out there keep others from capitalizing on your ideas and lining their pockets at your expense?One of the first steps to protect your interest is to patent your invention. That can keep it out of the grasp of the pirates for at least the next 20 years. And for this reason inventors in their droves beat a constant trail from all over the country to the doors of an anonymous grey-fronted building just behind London’s Holborn to try and patent their devices.The building houses the Patent Office. It’s an ant heap of corridors, offices and filing rooms—a sorting house and storage depot for one of the world’s biggest and most varied collections of technical data. Some ten million patents—English and foreign—are listed there.File after file, catalogue after catalogue detail the brain-children of inventors down the centuries, from a 1600’s machine gun designed to fire square bullets at infidels and round ones at Christians, to present-day laser, nuclear and computer technology.The first ‘letters patent’ were granted as long ago as 1449 to a Flemish c raftsman by the name of John Utynam. The letters, written in Latin, are still on file at the office. They were granted by King Henry VI and entitled Utynam to ‘import into this country’ his knowledge of making stained glass windows in order to install such windows at Eton College.Present-day patents procedure is a more sophisticated affair than getting a go-ahead note from the monarch. These days the strict procedures governing whether you get a patent for your revolutionary mouse-trap or solar-powered back-scratcher have been reduced to a pretty exact science.From start to finish it will take around two and a half years and cost £165 for the inventor to gain patent protection for his brainchild. That’s if he’s lucky. By no means all who apply to the Patent Office, which is a branch of the Department of Trade, get a patent.A key man at the Patent Office is Bernard Partridge, Principal Examiner (Administration), who boils down to one word the vital ingredient any inventor needs before he can hope to overcome the many hurdles in the complex procedure of obtaininga patent—‘ingenuity’.6. People take out a patent because they want to __________.(A) keep their ideas from being stolen(B) reap the rewards of somebody else’s ingenuity(C) visit the patent office building(D) come up with more new devices7. The phrase ‘the brain-children of inventors’ (para.5) means _________.(A) the children with high intelligence(B) the inventions that people come up with(C) a device that a child believes to be the answer to the energy crisis(D) a lawnmower that an individual has invented to cut grass8. What have the 1600’s machine gun and the present-day laser in common?(A) Both were approved by the monarch.(B) Both were granted by King Henry VI.(C) Both were rejected by the Department of Trade.(D) Both were patented.9. Why is John Utynam still remembered?(A) He is the first person to get a patent for his revolutionary mouse-trap.(B) He is the first person to be granted an official patent.(C) He is the first person to be an officer in the Patent Office.(D) He is the first person to have invented a lawnmower.10. According to the passage, how would you describe the complex procedure of obtaining a patent for an invention?(A) It is rather expensive.(B) It is an impossible task.(C) It is extremely difficult.(D) It is very tricky.Questions 11—15All living cells on earth require moisture for their metabolism. Cereal grains when brought in from the field, although they may appear to be dry, may contain 20 per cent of moisture or more. If they are stored in a bin thus, there is sufficient moisture in them to support several varieties of insects. These insects will, therefore, live and breed and, as they grow and eat the grain, it provides them with biological energy for their life processes. This energy will, just as in man, become manifest as heat. Since the bulk of the grain acts as an insulator, the temperature surrounding the colony of insects will rise so that, not only is part of the grain spoiled by the direct attack of the insects but more may be damaged by the heat. Sometimes, the temperature may even rise to the point where the stored grain catches fire. For safe storage, grain must be dried until its moisture content is 13 per cent or less.Traditional arts of food preservation took advantage of this principle in a number of ways. The plant seeds, wheat, rye, rice, barley millet, maize, are themselves structures evolved by nature to provide stored food. The starch of their endosperm is used for the nourishment of the embryo during the time it over-winters (if it is a plant of the Temperate Zone) and until its new leaves have grown and their chlorophyll can trap energy from the sunlight to nourish the new-grown plant. The separation by threshing and winnowing is, therefore, to some degree part of a technique of food preservation.The direct drying of other foods has also been used. Fish has been dried in many parts of the world besides Africa. Slices of dried meat are prepared by numerous races. Biltong, a form of dried meat, was a customary food for travelers. The drying of meat or fish, either in the sun or over a fire, quite apart from the degree towhich it exposes the food to infection by bacteria and infestation by insects, tends also to harm its quality. Proteins are complex molecular structures which are readily disrupted. This is the reason why dried meat becomes tough and can, with some scientific justification, by likened to leather.The technical process of drying foods indirectly by pickling them in the strong salt solutions commonly called ‘brine’ does less harm to the protein than straightforward drying, particularly if this is carried out at high temperatures. It is for this reason that many of the typical drying processes are not taken to completion. That is to say, the outer parts may be dried leaving a moist inner section. Under these circumstances, preservation is only partial. The dried food keeps longer than it would have undried but it cannot be kept indefinitely. For this reason, traditional processes are to be found in many parts of the world in which a combination of partial drying and pickling in brine is used. Quite often the drying involves exposure to smoke. Foods treated in this way are, besides fish of various sorts, bacon, hams and numerous types of sausages.11. According to the passage, insects spoil stored cereals by ________.(A) consuming all the grain themselves(B) generating heat and raising the surrounding temperature(C) increasing the moisture content in the grain(D) attacking each other for more grain12. In speaking of the traditional methods of food preservation, the writer ________.(A) expresses doubts about direct smoking(B) describes salting and pickling as ineffective(C) condemns direct drying(D) mentions threshing and winnowing13. Direct drying affects the quality of meat or fish because ________.(A) it exposes them to insects(B) it makes them hard(C) it damages the protein(D) it develops bacteria14. We can learn from the passage that salting preserves food by ________.(A) destroying the protein(B) drawing away moisture from the food(C) drying the food in the sun(D) dressing the food15. According to the passage, partial drying is useful because ________.(A) it damages the protein less(B) it can be combined with pickling(C) it leaves the inside moist(D) it makes the food softQuestions 16—20We are moving inexorably into the age of automation. Our aim is not to devise a mechanism which can perform a thousand different actions of any individual man but, on the contrary, one which could by a single action replace a thousand men.Industrial automation has moved along three lines. First there is the conveyor belt system of continuous production whereby separate operations are linked into a single sequence. The goods produced by this well-established method are untouched by the worker, and the machine replaces both unskilled and semiskilled. Secondly, there is automation with feedback control of the quality of the product: here mechanisms are built into the system which can compare the output with a norm, that is, the actual product with what it is supposed to be, and then correct any shortcomings. The entire cycle of operations dispenses with human control except in so far as monitors are concerned. One or two examples of this type of automation will illustrate its immense possibilities. There is a factory in the U.S.A. which makes 1,000 million electric light bulbs a year, and the factory employs three hundred people. If the preautomation techniques were to be employed, the labour force required would leap to 25,000. A motor manufacturing company with 45,000 spare parts regulates their entire supply entirely by computer. Computers can be entrusted with most of the supervision of industrial installations, such as chemical plants or oil refineries. Thirdly, there is computer automation, for banks, accounting departments, insurance companies and the like. Here the essential features are the recording, storing, sorting and retrieval of information.The principal merit of modern computing machines is the achievement of their vastly greater speed of operation by comparison with unaided human effort; a task which otherwise might take years, if attempted at all, now takes days or hours.One of the most urgent problems of industrial societies rapidly introducing automation is how to fill the time that will be made free by the machines which will take over the tasks of the workers. The question is not simply of filling empty time but also of utilizing the surplus human energy that will be released. We are already seeing straws in the wind: destructive outbursts on the part of youth whose work no longer demands muscular strength. While automation will undoubtedly do away with a large number of tedious jobs, are we sure that it will not put others which are equally tedious in their place? For an enormous amount of sheer monitoring will be required. A man in an automated plant may have to sit for hours on and watching dials and taking decisive action when some signal informs him that all is not well. What meaning will his occupation bear for the worker? How will he devote his free time after a four or five hour stint of labour? Moreover, what, indeed, will be the significance for him of his leisure? If industry of the future could be purged of its monotony and meaninglessness, man would then be better equipped to use his leisure time constructively.16. The main purpose of automation is _________.(A) to devise the machine which could replace the semi-skilled(B) to process information as fast as possible(C) to develop an efficient labor-saving mechanism(D) to make an individual man perform many different actions17. The chief benefit of computing machines is ________.(A) their greater speed of operation(B) their control of the product quality(C) their conveyor belt system of continuous production(D) their supervision of industrial installations18. One of the problems brought about by automation in industrial societies is _________.(A) plenty of information(B) surplus human energy(C) destructive outbursts(D) less leisure time19. Which of the following best explains the use of ‘stint’ (para.4)?(A) Effort.(B) Force.(C) Excess.(D) Period.20. According to the passage, which of the following statements is true?(A) There is no automation with feedback control of the quality of the product.(B) Computers are reliable in any supervision of industrial installations.(C) The essential features for banks are the recording and sorting of information.(D) Automation will undoubtedly eliminate numerous tedious jobs.Questions 21—25The city water pipes in Rome were usually of baked clay or lead; copper was sometimes used and also hollowed stone. For the large supply conduits leading to the city the Romans used covered channels with free water surfaces, rather than pipes. Perhaps this choice was a matter of economics, for apparently they could make lead pipes up to 15 inches in diameter. While pipes can follow the profile of undulating ground, with the pressure increasing in the lower areas, channels cannot. They must slope continuously downwards, because water in channels does not normally flow uphill; and the grade must be flat, from 1 in 60 in small channels to perhaps 1 in 3,000 in large ones, to keep the water speed down to a few feet per second. Thus the main supply channels or aqueducts had long lengths of flat grade and where they crossed depressions or valleys they were carried on elevated stone bridges in the form of tiered arches. At the beginning of the Christian era there were over 30 miles of these raised aqueducts in the 250 miles of channels and tunnels bringing water to Rome. The channels were up to 6 feet wide and 5 to 8 feet high. Sometimes channels were later added on the tops of existing ones. The remains of some of these aqueducts still grace the skyline on the outskirts of Rome and elsewhere in Europe similar ruins are found.Brick and stone drains were constructed in various parts of Rome. The oldest existing one is the Cloaca Maxima which follows the course of an old stream. It dates back at least to the third century B.C. Later the drains were used for sewage, flushed by water from the public baths and fountains, as well as street storm run-off. The truly surprising aspect of the achievements of all the ancient hydraulic artisans is the lack of theoretical knowledge behind their designs. Apart from the hydrostatics of Archimedes, there was no sound understanding of the most elementary principles of fluid behaviour. Sextus Frontinus, Rome’s water commissioner around。

国际会计考试题及答案英文International Accounting Exam Questions and AnswersQuestion 1: Define the term "Double Entry Accounting" and explain its significance in the accounting process.Answer 1: Double Entry Accounting is a system of recording financial transactions in which every entry to the debit side of an account must be balanced with an entry of equal value to the credit side of another account. It is significant because it ensures that all financial transactions are accurately recorded and that the accounting equation (Assets = Liabilities + Owner's Equity) remains balanced.Question 2: What is the purpose of the statement of cash flows in a set of financial statements?Answer 2: The statement of cash flows provides information about a company's cash receipts and cash payments during a particular period. It helps investors and creditors to understand the liquidity and solvency of the company, as well as its ability to generate cash and support its operations.Question 3: Explain the difference between "Historical Cost" and "Fair Value" in accounting.Answer 3: Historical Cost is the original purchase price of an asset or the original cost of a liability, while FairValue is the estimated amount for which an asset could be exchanged or a liability settled between knowledgeable,willing parties in an arm's length transaction. Historical Cost is used in the preparation of financial statements under the accrual basis of accounting, whereas Fair Value is often used for valuation purposes, particularly in the context of financial instruments.Question 4: What are the main components of the International Financial Reporting Standards (IFRS)?Answer 4: The main components of IFRS include the IFRS Standards, the International Accounting Standards (IAS), the Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC), and theStandards Advisory Council (SAC). These components provide a comprehensive set of rules and guidelines for the preparation and presentation of financial statements.Question 5: Describe the process of preparing a balance sheet.Answer 5: Preparing a balance sheet involves listing all of a company's assets, liabilities, and equity at a specific point in time. Assets are listed on the left side of the balance sheet and are categorized as current (short-term) or non-current (long-term). Liabilities are listed on the right side and are also categorized as current or non-current. Theequity section shows the owner's investment and retained earnings. The balance sheet must always balance, reflectingthe equation: Assets = Liabilities + Equity.Question 6: What is the role of an auditor in the financial reporting process?Answer 6: An auditor's role is to provide an independent assessment of a company's financial statements to ensure they are free from material misstatement and are presented fairly, in all material respects, in accordance with the applicable financial reporting framework, such as IFRS or Generally Accepted Accounting Principles (GAAP). The auditor's report provides assurance to stakeholders that the financial statements are reliable.Question 7: Explain the concept of "Conservatism" infinancial accounting.Answer 7: Conservatism is a principle in financial accounting that suggests that accountants should exercise caution when making estimates and judgments. It involves recognizing potential losses immediately but delaying the recognition of gains until they are realized. This principle helps to avoid overstatement of assets and income, thus providing a more prudent and cautious view of a company's financial position.Question 8: What is the difference between "Revenue Recognition" and "Matching Principle"?Answer 8: Revenue Recognition is the process of recognizing revenue in the accounting records when it is earned or realizable and has been measured reliably. The Matching Principle, on the other hand, is the accounting concept that requires expenses to be recognized in the same period as therevenues they helped to generate. This ensures that the financial statements reflect the actual performance of the company for a given period.Question 9: Describe the purpose of the "Going Concern" assumption in financial accounting.Answer 9: The Going Concern assumption is the basis for preparing financial statements under the accrual basis of accounting. It assumes that the business will continue to operate for the foreseeable future and that it is not in the process of liquidation or bankruptcy. This assumption allows accountants to spread the costs of assets over their useful lives and to recognize revenues and expenses when they are earned or incurred, rather than when cash is received or paid.Question 10: What is the "Materiality" concept in the context of financial statements?Answer 10: Materiality is a concept in financial accounting that refers to the significance of an item or event inrelation to the financial statements. Information is considered material if its omission or misstatement could influence the economic decisions of users taken on the basisof the financial statements. The assessment of materiality depends on the size and nature of the item, the nature of the financial statements, and the needs of the users.End of Exam。

2006 MBA.MPA.MPAcc联考英语试题Section Ⅰ Use of EnglishDirections: Read the following text. Choose the best word(s) for each numbered blank.Wholesale prices in July rose more sharply than expected and at a faster rate than consumer prices, (1) that businesses were still protecting consumers (2) the full brunt (冲击) of higher energy costs. The Producer Price Index, (3) measures what producers receive for goods and services, (4) 1 percent in July, the Labor Department reported yesterday, double (5) economists had been expecting and a sharp turnaround from fiat prices in June. Excluding (6) and energy, the core index of producer prices rose 0.4 percent, (7) than the 0.1 percent that economists had (8) Much of that increase was a result of an (9) increase in car and truck prices.On Tuesday, the Labor Department said the (10) that consumers paidfor goods and services in July were (11) 0.5 percent over all, and up 0.1 percent, excluding food and energy.(12) the overall rise in both consumer and producer prices (13) caused by energy costs, which increased 4.4 percent in the month. (Wholesale food prices (14) 0.3 percent in July. ) (15) July 2004, wholesale prices were up 4.6 percent; the core rate (16) 2.8 percent, its fastest pace since 1995．Typically, increases in the Producer Price Index indicate similar changes in the consumer index (17) businesses recoup (补偿) higher costs from customers. (18) for muchof this expansion, which started (19) the end of 2001, that has not been the (20) . In fact, many businesses like automakers have been aggressively discounting their products.( )1．A．indicate B．to indicate C．indicating D．indicated( )2．A．of B．to C．by D．from( )3．A．that B．which C．it D．this( )4．A．rise B．rises C．rose D．raised( )5．A．that B．what C．which D．this( )6． A．food B．grain C．crop D．diet( )7．A．less B．lower C．higher D．more( )8．A．said B．reported C．calculated D．forecast( )9．A．expectable B．unexpected C．expectation D．expecting( )10．A．prices B．costs C．charges D．values( )11．A．down B．from C．to D．up( )12．A．Much B．Most C．Most of D．Much of( )13．A．was B．were C．is D．are( )14．A．fall B．fell C．falls D．has fallen( )15．A．Comparing with B．In comparison C．Compared withD． Compare to( )16．A．dropped B．declined C．lifted D．climbed( )17．A．as B．so C．while D．when( )18．A．And B．But C．Yet D．Still( )19．A．at B．by C．in D．to( )20．A．condition B．situation C．matter D．caseSection Ⅱ Reading ComprehensionPart ADirections : Read the following four passages. Answer the questions blow each passage by choosing A, B, C and D．Text 1Office jobs are among the positions hardest hit by computation(计算机自动化). Word processors and typists will lose about 93,000 jobs over the next few years, while 57,000 secretarial jobs will vanish. Blame the PC: Today, many executives type their own memos and carry their "secretaries" in the palms of their hands. Time is also hard forstock clerks, whose ranks are expected to decrease by 68, 000． And employees in manufacturing firms and wholesalers are being replaced with computerized systems.But not everyone who loses a job will end up in the unemployment line. Many will shift to growing positions within their own companies. When new technologies shook up the telecomm business, telephone operator Judy Dougherty pursued retraining. She is now a communications technician, earning about $64, 000 per year. Of course, if you'vebeen a tollbooth collector for the past 30 years, and you findyourself replaced by an E-ZPass machine, it may be of little consolation(安慰) to know that the telecomm field is booming.And that's just it : The service economy is fading ; welcome to the expertise (专门知识) economy. To succeed in the new job market, you must be able to handle complex problems. Indeed, all but one of the50 highest-paying occupations-air-traffic controller-demand at leasta bachelor's degree.For those with just a high school diploma(毕业证书), it's going toget tougher to find a well-paying job. Since fewer factory andclerical jobs will be available, what's left will be the jobs that computation can't kill: Computers can't clean offices, or care for Alzheimer's patients (老年痴呆病人). But, since most people have the skills to fill those positions, the wages stay painfully low, meaning computation could drive an even deeper wedge(楔子) between the richand poor. The best advice now: Never stop learning, and keep up with new technology.For busy adults, of course, that can be tough. The good news is that the very technology that's reducing so many jobs is also making it easier to go back to school-without having to sit in a classroom. So-called Internet distance learning is hot, with more than three million students currently enrolled, and it's gaining credibility with employers.Are you at risk of losing your job to a computer? Check the Federal Bureau of Labor Statistics' Occupational Outlook Handbook, which is available online at bls. gov.( )21． From the first paragraph we can infer that all of the following persons are easily thrown into unemployment EXCEPT A．secretaries B．stock clerksC．managers D．wholesalers( )22．In the second paragraph the author mentions the tollbooth collector toA．mean he will get benefits from the telecomm fieldB．show he is too old to shift to a new positionC．console him on having been replaced by a machineD．blame the PC for his unemployment( )23．By saying "putation could drive an even deeper wedge between the rich and poor" (Line 5, Para. 4) the author means A．people are getting richer and richerB．there will be a small gap between rich and poorC．the gap between rich and poor is getting larger and largerD．it's time to close up the gap between the rich and poor( )24．What is the author's attitude towards computers? A．positive. B．negative.C．neutral. D．prejudiced.( )25．Which of the following might serve as the best title of the passage?A．Blaming the PC.B．The booming telecomm fieldC．Internet distance learning.D．Keeping up with computation.Text 2Tens of thousands of 18-year-olds will graduate this year and be handed meaningless diplomas. These diplomas won't look any different from those awarded their luckier classmates. Their validity will be questioned only when their employers discover that these graduates are semiliterate (半文盲).Eventually a fortunate few will find their way into educational-repair shops-adult-literacy programs, such as the one where I teach basic grammar and writing. There, high-school graduates and high-school dropouts pursuing graduate-equivalency certificates will learn the skills they should have learned in school. They will also discover they have been cheated by our educational system.I will never forget a teacher who got the attention of one of my children by revealing the trump card of failure. Our youngest, a world-class charmer, did little to develop his intellectual talents but always got by. Until Mrs. Stifter.Our son was a high-school senior when he had her for English. "Hesits in the back of the room talking to his friends," she told me. "Why don't you move him to the front row?" I urged, believing the embarrassment would get him to settle down. Mrs. Stifter said, "Idon't move seniors. I flunk(使……不及格) them. " Our son's academic life flashed before my eyes. No teacher had ever threatened him. By the time I got home I was feeling pretty good about this. It was a radical approach for these times, but, well, why not? "She's going to flunk you," I told my son. I did not discuss it any further. Suddenly English became a priority(头等要事) in his life. He finished out the semester with an A.I know one example doesn't make a case, but at night I see a parade of students who are angry for having been passed along until they could no longer even pretend to keep up. Of average intelligence or better, they eventually quit school, concluding they were too dumb to finish. "I should have been held back," is a comment I hear frequently: Even sadder are those students who are high-school graduates who say to me after a few weeks of class, "I don't know how I ever got a high-school diploma. "Passing students who have not mastered the work cheats them and the employers who expect graduates to have basic skills. We excuse this dishonest behavior by saying kids can't learn if they come from terrible environments. No one seems to stop to think that most kids don't put school first on their list unless they perceive somethingis at risk. They'd rather be sailing.Many students I see at night have decided to make education a priority. They are motivated by the desire for a better job or the need to hang on to the one they've got. They have a healthy fear of failure.People of all ages can rise above their problems, but they need to have a reason to do so. Young people generally don't have the maturity to value education in the same way my adult students value it. But fear of failure can motivate both.( )26． What is the subject of this essay?A．view point on learning.B．a qualified teacher.C．the importance of examination.D．the generation gap.( )27．How did Mrs. Sifter get the attention of one of the author's children?A．flunking him. B．moving his seat.C．blaming him. D．playing card with him.( )28．The author believes that the most effective way for a teacher is toA．purify the teaching environmentsB．set up cooperation between teachers and parentsC．hold back studentD．motivate student( )29．From the passage we can draw the conclusion that the authors' attitude toward flunking isA．negative B．positiveC．biased D．indifferent( )30．Judging from the content, this passage is probably written for A．administrators B．studentsC．teachers D．parentsText 3Names have gained increasing importance in the competitive world of higher education. As colleges strive for market share, they are looking for names that project the image they want or reflect the changes they hope to make. Trenton State College, for example, became the College of New Jersey nine years ago when it began raising admissions standards and appealing to students from throughout the state."All I hear in higher education is, ' Brand, brand, brand, ' " said Tim Westerbeck, who specializes in branding and is managing director of Lipman Hearne, a marketing firm based in Chicago that works with universities and other nonprofit organizations. "There has been a sea change over the last 10 years. Marketing used to be almost a dirty word in higher education. "Not all efforts at name changes are successful, of course. In 1997, the New School for Social Research became New School University to reflect its growth into a collection of eight colleges, offering alist of majors that includes psychology, music, urban studies and management. But New Yorkers continued to call it the New School. Now, after spending an undisclosed sum on an online survey and a marketing consultant's creation of "naming structures," "brand architecture" and "identity systems," the university has come up witha new name. the New School. Beginning Monday, it will adopt newlogos(标识) , banners, business cards and even new names for the individual colleges, all to include the words "the New School. " Changes in names generally reveal significant shifts in how a college wants to be perceived. In altering its name from Cal State, Hayward, to Cal State, East Bay, the university hoped to project its expanding role in two mostly suburban counties east of San Francisco.The University of Southern Colorado, a state institution, became Colorado State University at Pueblo two years ago, hoping tohighlight many internal changes, including offering more graduate programs and setting higher admissions standards.Beaver College turned itself into Arcadia University in 2001 for several reasons : to break the connection with its past as a women's college, to promote its growth into a full-fledged(完全成熟的) university and, officials acknowledged, to eliminate some jokes about the college's old name on late-night television and "morning zoo" radio shows.Many college officials said changing a name and image could produce substantial results. At Arcadia, in addition to the rise in applications, the average student's test score has increased by 60 points, Juli Roebeck, an Arcadia spokeswoman, said.( )31．Which of the following is NOT the reason for colleges to change their names?A．They prefer higher education competition.B．They try to gain advantage in market share.C．They want to project their image.D．They hope to make some changes.( )32．It is implied that one of the most significant changes in higher education in the past decade isA．the brandB．the college namesC．the concept of marketingD．list of majors( )33．The phrase "come up with" (Line 3, Para. 4) probably means A．catch up withB．deal withC．put forwardD．come to the realization( )34．The case of name changing from Cad State, Hayward, to Cal State indicates that the universityA．is perceived by the societyB．hopes to expand its influenceC．prefers to reform its teaching programsD．expects to enlarge its campus( )35．According to the spokeswoman, the name change of Beaver CollegeA．turns out very successfulB．fails to attain its goalC．has eliminated some jokesD．has transformed its statusText 4It looked just like another aircraft from the outside. The pilot told his young passengers that it was built in 1964．But appearances were deceptive, and the 13 students from Europe and the USA who boarded the aircraft were in for the flight of their lives.Inside, the area that normally had seats had become a long white tunnel. Heavily padded (填塞) from floor to ceiling, it looked a bit strange. There were almost no windows, but lights along the padded walls illuminated it. Most of the seats had been taken out, apart from a few at the back, where the young scientists quickly took their places with a look of fear.For 12 months, science students from across the continents had competed to win a place on the flight at the invitation of the European Space Agency. The challenge had been to suggest imaginative experiments to be conducted in weightless conditions.For the next two hours, the flight resembled that of an enormous bird which had lost its reason, shooting upwards towards the heavens before rushing .towards Earth. The invention was to achieve weightlessness for a few seconds.The aircraft took off smoothly enough, but any feelings that I and the young scientists had that we were on anything like a scheduled passenger service were quickly dismissed when the pilot put the plane into a 45-degree climb which lasted around 20 seconds. Then the engines cut out and we became weightless. Everything became confused and left or right, up or down no longer had any meaning. After ten seconds of free-fall descent(下降) the pilot pulled the aircraft out of its nosedive. The return of gravity was less immediate than its loss, but was still sudden enough to ensure that some students came down with a bump.Each time the pilot cut the engines and we became weightless, a new team conducted its experiment. First it was the Dutch who wanted to discover how it is that eats always land on their feet. Then the German team who conducted a successful experiment on a traditional building method to see if it could be used for building a future space station. The Americans had an idea to create solar sails that could be used by satellites.After two hours of going up and down in the lane doing their experiments, the predominant feeling was one of excitement rather than sickness. Most of the students thought it was an unforgettable experience and one they would be keen to repeat.( )36． What did the writer say about the plane?A．It had no seats. B．It was painted white.C．It had no windows. D．The outside was misleading.( )37．According to the writer, how did the young scientists feel before the flight?A．sick B．keenC．nervous D．impatient( )38．What did the pilot do with the plane after it took off?A．He quickly climbed and then stopped the engines.B．He climbed and then made the plane fall slowly.C．He took off normally and then cut the engines for 20 seconds. D．He climbed and then made the plane turn over.( )39．According to the passage, the purpose of being weightless was toA．see what conditions are like in spaceB．prepare the young scientists for future work in spaceC．show the judges of the competition what they could doD．make the teams try out their ideas( )40．This passage was written toA．encourage young people to take up scienceB．describe the process of a scientific competitionC．show scientists what young people can doD．report on a new scientific techniquePart BDirections: In the following text, some sentences have removed. For Questions 41 -45, choose the most suitable one from the list A-G to fit into of the numbered blank. There are two extra choices, which do not fit in any of the gaps.Canada's premiers ( the leaders of provincial governments), if they have any breath left after complaining about Ottawa at their late July annual meeting, might spare a moment to do something, to reduce health-care costs.They're all groaning about soaring health budgets, the fastest-growing component of which are pharmaceutical costs.41．____________________________________________________________ What to do? Both the Romanow commission and the Kirby committee on health care-to say nothing of reports from other experts recommended the creation of a national drug agency. Instead of each province having its own list of approved drugs, bureaucracy, procedures andlimited bargaining power, all would pool resources, work with Ottawa, and create a national institution.42. ____________________________________________________________But " national" doesn't have to mean that. " National" could mean interprovincial- provinces combining efforts to create one body.Either way, one benefit of a "national" organization would be to negotiate better prices, if possible, with drug manufacturers.Instead of having one province-or a series of hospitals within a province-negotiate a price for a given drug on the provincial list, the national agency would negotiate on behalf of all provinces.Rather than, say, Quebec, negotiating on behalf of seven million people, the national agency would negotiate on behalf 31 million people. Basic economies suggests the greater the potential consumers, the higher the likelihood of a better price.43. ____________________________________________________________A small step has been taken in the direction of a national agencywith the creation of the Canadian Co-ordinating Office for Health Technology Assessment, funded by Ottawa and the provinces. Under it,a Common Drug Review recommends to provincial lists which new drugs should be included. Predictably and regrettably, Quebec refused to join.A few premiers are suspicious of any federal-provincial deal-making. They ( particularly Quebec and Alberta) just want Ottawa to fork over additional billions with few, if any, strings attached. That's one reason why the idea of a nationalist hasn't gone anywhere, while drug costs keep rising fast.44. ____________________________________________________________ Premiers love to quote Mr. Romanow's report selectively, especially the parts about more federal money perhaps they should read what he had to say about drugs: "A national drug agency would provide governments more influence on pharmaceutical companies in order to constrain the ever-increasing cost of drugs. "45. ____________________________________________________________So when the premiers gather in Niagara Falls to assemble their usual complaint list, they should also get cracking about something intheir jurisdiction that would help their budgets and patients. A．Quebec's resistance to a national agency is provincialist ideology. One of the first advocates for national list was a researcher atLava[ University. Quebec's Drug Insurance Fund has seen its costs skyrocket with annual increases from 14.3 per cent to 26.8 per cent ! B．Or they could read Mr. Kirby's report : "The substantial buying power of such an agency would strengthen the public prescription-drug insurance plans to negotiate the lowest possible purchase prices from drug companies"C．What does "national" mean? Roy Romanow and Senator Michael Kirby recommended a federal-provincial body much like the recently created National Health Council.D．The problem is simple and stark: health-care costs have been, are, and will continue to increase faster than government revenues.E. According to the Canadian Institute for Health Information, prescription drug costs have risen since 1997 at twice the rate of overall heahh-care spending. Part of the increase comes from drugs being used to replace other kinds of treatments. Part of it arises from new drugs costing more than older kinds. Part of it is higher prices.F. So, if the provinces want to run the health-care show, they should prove they can run it, starting with an interprovincial health list that would end duplication, save administrative costs, prevent one province from being played off against another, and bargain forbetter drug prices.G. Of course the pharmaceutical companies will scream. They like divided buyers, they can lobby better that way. They can use the threat of removing jobs from one province to another. They can hope that, if one province includes a drug on its list, the pressure will cause others to include it on theirs. They wouldn't like a national agency, but self- interest would lead them to deal with it.Section Ⅲ TranslationDirections: In this section there is a text in English. Translate the five underlined sentences into Chinese.The smooth landing of the shuttle(航天飞机) Discovery ended a flight that was successful in almost every respect but one : the dislodging of a big chunk of foam, like the one that doomed the Columbia. This flight was supposed to vault the shuttle fleet back into space after a prolonged grounding for repairs. But given the repeat of the very problem that two years of retooling was supposed to resolve, the verdict is necessarily mixed. (46) Once again, the space agency has been forced to put off the flight until it can find a solution to the problem, and no one seems willing to guess how long that may take. The Discovery astronauts performed superbly during their two-week mission, and the shuttle looked better than ever in some respects. (47) Space officials were justifiably happy that so much had gone well, despite daily worries over possible risks. The flight clearly achieved its prime objectives.The astronauts transferred tons of cargo to the international space station, which has been limping along overhead with a reduced crew and limited supplies carried up on smaller Russian spacecraft. (48) They replaced a broken device, repaired another and carted away aload of rubbish that had been left on the station, showing theshuttle can bring full loads back down from space.This was the most scrutinized shuttle flight ever, with the vehicle undergoing close inspection while still in orbit. (49) New sensingand photographic equipment to look for potentially dangerous damageto the sensitive external skin proved valuable. A new back flip maneuver allowed station astronauts to photograph the shuttle's underbelly, and an extra-long robotic arm enabled astronauts to see parts of the shuttle that were previously out of sight.(50) The flood of image and the openness in discussing its uncertainties about potential hazards sometimes made it appear that the shuttle was about to fall apart. In the end the damage wasclearly tolerable. A much-touted spacewalk to repair the shuttle's skin--the first of its kind-moved an astronaut close enough to pluck out some protruding material with his hand. Preliminary evidence indicates that Discovery has far fewer nicks and gouges than shuttles on previous flights, perhaps showing that improvements to reduce the shedding of debris from the external fuel tank have had some success.Section Ⅳ WritingPart ADirections : Write a letter to the editor of a newspaper complaining about the poor service of a bookstore.设想你买了一本英文词典，发现有这样那样的质量问题，书店的服务态度又不好，因此给报社编辑写信。

A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mA C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mPart 2 Examination – Paper 2.5(INT)Financial Reporting (International Stream)December 2006 Answers1(a)Cost of control in Sunlee:Consideration$’000$’000Shares (20,000 x 80% x 3/5 x $5)48,000LessEquity shares 20,000Pre acq reserves18,000Fair value adjustments (4,000 + 3,000 + 5,000)12,000–––––––50,000x 80%(40,000)–––––––Goodwill 8,000–––––––(b)Carrying amount of Amber 30 September 2006 (prior to impairment loss):At cost$’000Cash (6,000 x $3)18,0006% loan notes (6,000 x $100/100)6,000–––––––24,000LessPost acquisition losses (20,000 x 40% x 3/12)(2,000)–––––––22,000–––––––(c)Hosterling GroupConsolidated income statement for the year ended 30 September 2006$’000Revenue (105,000 + 62,000 – 18,000 intra group)149,000Cost of sales (see working)(89,000)––––––––Gross profit60,000Distribution costs (4,000 + 2,000)(6,000)Administrative expenses (7,500 + 7,000)(14,500)Finance costs (1,200 + 900)(2,100)Impairment losses:Goodwill (1,600)Investment in associate (22,000 – 21,500)(500)Share of loss from associate (20,000 x 40% x 3/12)(2,000)––––––––Profit before tax 33,300Income tax expense (8,700 + 2,600)(11,300)––––––––Profit for the period 22,000––––––––Attributable to:Equity holders of the parent19,600Minority Interest ((13,000 – 1,000 depreciation adjustment) x 20%)2,400––––––––22,000––––––––Note: the dividend from Sunlee is eliminated on consolidation.Working $’000Cost of sales Hosterling 68,000Sunlee 36,500Intra group purchases (18,000)Additional depreciation of plant (5,000/5 years)1,000Unrealised profit in inventories (7,500 x 25%/125%)1,500––––––––89,000––––––––A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o m2(a)Tadeon – Income statement – Year to 30 September 2006$’000$’000Revenue277,800Cost of sales (w (i))(144,000)–––––––––Gross profit133,800Operating expenses (40,000 + 1,200 (w (ii)))(41,200)Investment income2,000Finance costs – finance lease (w (ii))(1,500)– loan (w (iii))(2,750)(4,250)––––––––––––––––Profit before tax90,350Income tax expense (w (iv))(36,800)–––––––––Profit for the period 53,550–––––––––(b)Tadeon – Balance Sheet as at 30 September 2006Non-current assets$’000$’000Property, plant and equipment (w (v))299,000Investments at amortised cost 42,000–––––––––341,000Current assets Inventories33,300T rade receivables 53,50086,800––––––––––––––––T otal assets427,800–––––––––Equity and liabilities Capital and reserves:Equity shares of 20 cents each fully paid (w (vi))200,000ReservesShare premium (w (vi))28,000Revaluation reserve (w (v))16,000Retained earnings (w (vii))42,15086,150––––––––––––––––286,150Non-current liabilities 2% Loan note (w (iii))51,750Deferred tax (w (iv))14,800Finance lease obligation (w (ii))10,50077,050–––––––Current liabilities T rade payables18,700Accrued lease finance costs (w (ii))1,500Finance lease obligation (w (ii))4,500Bank overdraft1,900Income tax payable (w (iv))38,00064,600––––––––––––––––T otal equity and liabilities427,800–––––––––Workings (note figures in brackets are in $’000)(i)Cost of sales:$’000Per trial balance118,000Depreciation (12,000 + 5,000 + 9,000 w (v))26,000––––––––144,000––––––––(ii)Vehicle rentals/finance lease:The total amount of vehicle rentals is $6·2 million of which $1·2 million are operating lease rentals and $5 million is identified as finance lease rentals. The operating rentals have been included in operating expenses.Finance lease$’000Fair value of vehicles20,000First rental payment – 1 October 2005(5,000)–––––––Capital outstanding to 30 September 200615,000Accrued interest 10% (current liability)1,500–––––––T otal outstanding 30 September 200616,500–––––––A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mIn the year to 30 September 2007 (i.e. on 1 October 2006) the second rental payment of $6 million will be made, of this $1·5 million is for the accrued interest for the previous year, thus $4·5 million will be a capital repayment. The remaining $10·5 million (16,500 – (4,500 + 1,500)) will be shown as a non-current liability.(iii)Although the loan has a nominal (coupon) rate of only 2%, amortisation of the large premium on redemption, gives aneffective interest rate of 5·5% (from question). This means the finance charge to the income statement will be a total of $2·75 million (50,000 x 5·5%). As the actual interest paid is $1 million an accrual of $1·75 million is required. This amount is added to the carrying amount of the loan in the balance sheet.(iv)Income tax and deferred taxThe income statement charge is made up as follows:$'000Current year’s provision 38,000Deferred tax (see below)(1,200)–––––––36,800–––––––There are $74 million of taxable temporary differences at 30 September 2006. With an income tax rate of 20%, this would require a deferred tax liability of $14·8 million (74,000 x 20%). $4 million ($20m x 20%) is transferred to deferred tax in respect of the revaluation of the leasehold property (and debited to the revaluation reserve), thus the effect of deferred tax on the income statement is a credit of $1·2 million (14,800 – 4,000 – 12,000 b/f).(v)Non-current assets/depreciation:Non-leased plantThis has a carrying amount of $96 million (181,000 – 85,000) prior to depreciation of $12 million at 121/2% reducing balance to give a carrying amount of $84 million at 30 September 2006.The leased vehicles will be included in non-current assets at their fair value of $20 million and depreciated by $5 million (four years straight-line) for the year ended 30 September 2006 giving a carrying amount of $15 million at that date.The 25 year leasehold property is being depreciated at $9 million per annum (225,000/25 years). Prior to its revaluation on 30 September 2006 there would be a further year’s depreciation charge of $9 million giving a carrying amount of $180 million (225,000 – (36,000 + 9,000)) prior to its revaluation to $200 million. Thus $20 million would be transferred to a revaluation reserve. The question says the revaluation gives rise to $20 million of the deductible temporary differences, at a tax rate of 20%, this would give a credit to deferred tax of $4 million which is debited to the revaluation reserve to give a net balance of $16 million. Summarising:cost/valuationaccumulated depreciationcarrying amount$,000$,000$,00025 year leasehold property 200,000nil 200,000Non-leased plant 181,00097,00084,000Leased vehicles20,0005,00015,000––––––––––––––––––––––––401,000102,000299,000––––––––––––––––––––––––(vi)Suspense accountThe called up share capital of $150 million in the trial balance represents 750 million shares (150m/0·2) which have a market value at 1 October 2005 of $600 million (750m x 80 cents). A yield of 5% on this amount would require a $30 million dividend to be paid.A fully subscribed rights issue of one new share for every three shares held at a price of 32c each would lead to an issue of 250 million (150m/0·2 x 1/3). This would yield a gross amount of $80 million, and after issue costs of $2 million,would give a net receipt of $78 million. This should be accounted for as $50 million (250m x 20 cents) to equity share capital and the balance of $28 million to share premium.The receipt from the share issue of $78 million less the payment of dividends of $30 million reconciles the suspense account balance of $48 million.(vii)Retained earnings$,000At 1 October 200518,600Year to 30 September 200653,550less dividends paid (w (vi))(30,000)–––––––42,150–––––––3(a)Most forms of off balance sheet financing have the effect of what is, in substance, debt finance either not appearing on the balance sheet at all or being netted off against related assets such that it is not classified as debt. Common examples would be structuring a lease such that it fell to be treated as an operating lease when it has the characteristics of a finance lease,complex financial instruments classified as equity when they may have, at least in part, the substance of debt and ‘controlled’entities having large borrowings (used to benefit the group as a whole), that are not consolidated because the financial structure avoids the entities meeting the definition of a subsidiary.A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mThe main problem of off balance sheet finance is that it results in financial statements that do not faithfully represent the transactions and events that have taken place. Faithful representation is an important qualitative characteristic of useful information (as described in the Framework for the preparation and presentation of financial statements ). Financial statements that do not faithfully represent that which they purport to lack reliability. A lack of reliability may mean that any decisions made on the basis of the information contained in financial statements are likely to be incorrect or, at best, sub-optimal.The level of debt on a balance sheet is a direct contributor to the calculation of an entity’s balance sheet gearing, which is considered as one of the most important financial ratios. It should be understood that, to a point, the use of debt financing is perfectly acceptable. Where balance sheet gearing is considered low, borrowing is relatively inexpensive, often tax efficient and can lead to higher returns to shareholders. However, when the level of borrowings becomes high, it increases risk in many ways. Off balance sheet financing may lead to a breach of loan covenants (a serious situation) if such debt were to be recognised on the balance sheet in accordance with its substance.H igh gearing is a particular issue to equity investors. Equity (ordinary shares) is sometimes described as residual return capital. This description identifies the dangers (to equity holders) when an entity has high gearing. The dividend that the equity shareholders might expect is often based on the level of reported profits. The finance cost of debt acts as a reduction of the profits available for dividends. As the level of debt increases, higher interest rates are also usually payable to reflect the additional risk borne by the lender, thus the higher the debt the greater the finance charges and the lower the profit. Many off balance sheet finance schemes also disguise or hide the true finance cost which makes it difficult for equity investors to assess the amount of profits that will be needed to finance the debt and consequently how much profit will be available to equity investors. Furthermore, if the market believes or suspects an entity is involved in ‘creative accounting’ (and off balance sheet finance is a common example of this) it may adversely affect the entity’s share price.An entity’s level of gearing will also influence any decision to provide further debt finance (loans) to the entity. Lenders will consider the nature and value of the assets that an entity owns which may be provided as security for the borrowings. The presence of existing debt will generally increase the risk of default of interest and capital repayments (on further borrowings)and existing lenders may have a prior charge on assets available as security. In simple terms if an entity has high borrowings,additional borrowing is more risky and consequently more expensive. A prospective lender to an entity that already has high borrowings, but which do not appear on the balance sheet is likely to make the wrong decision. If the correct level of borrowings were apparent, either the lender would not make the loan at all (too high a lending risk) or, if it did make the loan,it would be on substantially different terms (e.g. charge a higher interest rate) so as to reflect the real risk of the loan. Some forms of off balance sheet financing may specifically mislead suppliers that offer credit. It is a natural precaution that a prospective supplier will consider the balance sheet strength and liquidity ratios of the prospective customer. The existence of consignment inventories may be particularly relevant to trade suppliers. Sometimes consignment inventories and their related current liabilities are not recorded on the balance sheet as the wording of the purchase agreement may be such that the legal ownership of the goods remains with the supplier until specified events occur (often the onward sale of the goods).This means that other suppliers cannot accurately assess an entity’s true level of trade payables and consequently the average payment period to suppliers, both of which are important determinants in deciding whether to grant credit. (b)(i)Debt factoring is a common method of entities releasing the liquidity of their trade receivables. The accounting issue that needs to be decided is whether the trade receivables have been sold, or whether the income from the finance house for their ‘sale’ should be treated as a short term loan. The main substance issue with this type of transaction is to identify which party bears the risks (i.e. of slow and non-payment by the customer) relating to the asset. If the risk lies with the finance house (Omar), the trade receivables should be removed from the balance sheet (derecognised in accordance with IAS 39). In this case it is clear that Angelino still bears the risk relating to slow and non-payment. The residual payment by Omar depends on how quickly the receivables are collected; the longer it takes, the less the residual payment (this imputes a finance cost). Any balance uncollected by Omar after six months will be refunded by Angelino which reflects the non-payment risk.Thus the correct accounting treatment for this transaction is that the cash received from Omar (80% of the selected receivables) should be treated as a current liability (a short term loan) and the difference between the gross trade receivables and the amount ultimately received from Omar (plus any amounts directly from the credit customers themselves) should be charged to the income statement. The classification of the charge is likely to be a mixture of administrative expenses (for Omar collecting receivables), finance expenses (reflecting the time taken to collect the receivables) and the impairment of trade receivables (bad debts).(ii)This is an example of a sale and leaseback of a property. Such transactions are part of normal commercial activity, often being used as a way to improve cash flow and liquidity. However, if an asset is sold at an amount that is different to its fair value there is likely to be an underlying reason for this. In this case it appears (based on the opinion of the auditor)that Finaid has paid Angelino $2 million more than the building is worth. No (unconnected) company would do this knowingly without there being some form of ‘compensating’ transaction. This sale is ‘linked’ to the five year rental agreement. The question indicates the rent too is not at a fair value, being $500,000 per annum ($1,300,000 –$800,000) above what a commercial rent for a similar building would be.It now becomes clear that the excess purchase consideration of $2 million is an ‘in substance’ loan (rather than sales proceeds – the legal form) which is being repaid through the excess ($500,000 per annum) of the rentals. Although this is a sale and leaseback transaction, as the building is freehold and has an estimated remaining life (20 years) that is much longer than the five year leaseback period, the lease is not a finance lease and the building should be treated as sold and thus derecognised.A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mThe correct treatment for this item is that the sale of the building should be recorded at its fair value of $10 million, thus the profit on disposal would be $2·5 million ($10 million – $7·5 million). The ‘excess’ of $2 million ($12 million – $10 million) should be treated as a loan (non-current liability). The rental payment of $1·3 million should be split into three elements; $800,000 building rental cost, $200,000 finance cost (10% of $2 million) and the remaining $300,000 is a capital repayment of the loan.(iii)The treatment of consignment inventory depends on the substance of the arrangements between the manufacturer andthe dealer (Angelino). The main issue is to determine if and at what point in time the cars are ’sold’. The substance is determined by analysing which parties bear the risks (e.g. slow moving/obsolete inventories, finance costs) and receive the benefits (e.g. use of inventories, potential for higher sales, protection from price increases) associated with the transaction.Supplies from MonzaAngelino has, and has actually exercised, the right to return the cars without penalty (or been required by Monza to transfer them to another dealer), which would indicate that it has not ‘bought’ the cars. There are no finance costs incurred by Angelino, however Angelino would suffer from any price increases that occurred during the three month holding/display period. These factors seem to indicate that the substance of this arrangement is the same as its legal form i.e. Monza should include the cars in its balance sheet as inventory and therefore Angelino will not record a purchase transaction until it becomes obliged to pay for the cars (three months after delivery or until sold to customers if sooner).Supplies from CapriAlthough this arrangement seems similar to the above, there are several important differences. Angelino is bearing the finance costs of 1% per month (calling it a display charge is a distraction). The option to return the cars should be ignored because it is not likely to be exercised due to commercial penalties (payment of transport costs and loss of deposit). Finally the purchase price is fixed at the date of delivery rather than at the end of six months. These factors strongly indicate that Angelino bears the risks and rewards associated with ownership and should recognise the inventory and the associated liability in its financial statements at the date of delivery.A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o m4(a)Cash Flow Statement of Minster for the Year ended 30 September 2006:Cash flows from operating activities $000$000Profit before tax 142Adjustments for:Depreciation of property, plant and equipment 255Amortisation of software (180 – 135)45300––––Investment income (20)Finance costs40––––462Working capital adjustmentsDecrease in trade receivables (380 – 270)110Increase in amounts due from construction contracts (80 – 55)(25)Decrease in inventories (510 – 480)30Decrease in trade payables (555 – 350)(205)(90)––––––––Cash generated from operations372Interest paid (40 – 12 re unwinding of environmental provision)(28)Income taxes paid (w (ii))(54)––––Net cash from operating activities290Cash flows from investing activitiesPurchase of – property, plant and equipment (w (i))(410)– software(180)– investments (150 – (15 + 125))(10)Investment income received (20 – 15 gain on investments)5––––Net cash used in investing activities (595)Cash flows from financing activitiesProceeds from issue of equity shares (w (iii))265Proceeds from issue of 9% loan note 120Dividends paid (500 x 4 x 5 cents)(100)––––Net cash from financing activities285––––Net decrease in cash and cash equivalents(20)Cash and cash equivalents at beginning of period (40 – 35) (5)––––Cash and cash equivalents at end of period(25)––––Note: interest paid may be presented under financing activities and dividends paid may be presented under operating activities.Workings (in $’000)(i)Property, plant and equipment:carrying amount b/f940non-cash environmental provision 150revaluation35depreciation for period (255)carrying amount c/f(1,280) ––––––difference is cash acquisitions (410)––––––(ii)T axation:tax provision b/f (50)deferred tax b/f(25)income statement charge (57)tax provision c/f 60deferred tax c/f 18––––difference is cash paid (54)––––(iii)Equity sharesbalance b/f(300)bonus issue (1 for 4)(75)balance c/f500–––––difference is cash issue125–––––A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mShare premium balance b/f(85)bonus issue (1 for 4)75balance c/f150–––––difference is cash issue140–––––Therefore the total proceeds of cash issue of shares are $265,000 (125 + 140).(b)Report on the financial position of Minster for the year ended 30 September 2006To: From: Date:Minster shows healthy operating cash inflows of $372,000 (prior to finance costs and taxation). This is considered by many commentators as a very important figure as it is often used as the basis for estimating the company’s future maintainable cash flows. Subject to (inevitable) annual expected variations and allowing for any changes in the company’s structure this figure is more likely to be repeated in the future than most other figures in the cash flow statements which are often ‘one-off’cash flows such as raising loans or purchasing non-current assets. The operating cash inflow compares well with the underlying profit before tax $142,000. This is mainly due to depreciation charges of $300,000 being added back to the profit as they are a non-cash expense. The cash inflow generated from operations of $372,000 together with the reduction in net working capital of $90,000 is more than sufficient to cover the company’s taxation payments of $54,000, interest payments of $28,000 and the dividend of $100,000 and leaves an amount to contribute to the funding of the increase in non-current assets. It is important that these short term costs are funded from operating cash flows; it would be of serious concern if, for example, interest or income tax payments were having to be funded by loan capital or the sale of non-current assets.There are a number of points of concern. The dividend of $100,000 gives a dividend cover of less than one (85/100 = 0·85)which means the company has distributed previous year’s profits. This is not a tenable situation in the long-term. The size of the dividend has also contributed to the lower cash balances (see below). There is less investment in both inventory levels and trade receivables. This may be the result of more efficient inventory control and better collection of receivables, but it may also indicate that trading volumes may be falling. Also of note is a large reduction in trade payable balances of $205,000.This too may be indicative of lower trading (i.e. less inventory purchased on credit) or pressure from suppliers to pay earlier.Without more detailed information it is difficult to come to a conclusion in this matter.Investing activities:The cash flow statement shows considerable investment in non-current assets, in particular $410,000 in property, plant and equipment. These acquisitions represent an increase of 44% of the carrying amount of the property, plant and equipment as at the beginning of the year. As there are no disposals, the increase in investment must represent an increase in capacity rather than the replacement of old assets. Assuming that this investment has been made wisely, this should bode well for the future (most analysts would prefer to see increased investment rather than contraction in operating assets). An unusual feature of the required treatment of environmental provisions is that the investment in non-current assets as portrayed by the cash flow statement appears less than if balance sheet figures are used. The balance sheet at 30 September 2006 includes $150,000 of non-current assets (the discounted cost of the environmental provision), which does not appear in the cash flow figures as it is not a cash ‘cost’. A further consequence is that the ‘unwinding’ of the discounting of the provision causes a financing expense in the income statement which is not matched in the cash flow statement as the unwinding is not a cash flow. Many commentators have criticised the required treatment of environmental provisions because they cause financing expenses which are not (immediate) cash costs and no ‘loans’ have been taken out. Viewed in this light, it may be that the information in the cash flow statement is more useful than that in the income statement and balance sheet.Financing activities:The increase in investing activities (before investment income) of $600,000 has been largely funded by an issue of shares at $265,000 and raising a 9% $120,000 loan note. This indicates that the company’s shareholders appear reasonably pleased with the company's past performance (or they would not be very willing to purchase further shares). The interest rate of the loan at 9% seems quite high, and virtually equal to the company’s overall return on capital employed of 9·1%(162/(1,660 + 120)). Provided current profit levels are maintained, it should not reduce overall returns to shareholders. Cash position:The overall effect of the year’s cash flows has worsened the company’s cash position by an increased net cash liability of $20,000. Although the company’s short term borrowings have reduced by $15,000, the cash at bank of $35,000 at the beginning of the year has now gone. In comparison to the cash generation ability of the company and considering its large investment in non-current assets, this $20,000 is a relatively small amount and should be relieved by operating cash inflows in the near future.A C C A 博客：b l o g .52a c c a .c o mA C C A 书店：s h o p .52a c c a .c o mSummaryThe above analysis shows that Minster has invested substantially in new non-current assets suggesting expansion. T o finance this, the company appears to have no difficulty in attracting further long-term funding. At the same time there are indications of reduced inventories, trade receivables and payables which may suggest the opposite i.e. contraction. It may be that the new investment is a change in the nature of the company’s activities (e.g. mining) which has different working capital characteristics. The company has good operating cash flow generation and the slight deterioration in short term net cash balance should only be temporary. Yours …………………..5(a)(i)IFRS 5 Non-current assets held for sale and discontinued operations defines non-current assets held for sale as those assets (or a group of assets) whose carrying amounts will be recovered principally through a sale transaction rather than through continuing use. A discontinued operation is a component of an entity that has either been disposed of, or is classified as ‘held for sale’ and:(i)represents a separate major line of business or geographical area of operations (ii)is part of a single co-ordinated plan to dispose of such, or (iii)is a subsidiary acquired exclusively for sale.IFRS 5 says that a ‘component of an entity’ must have operations and cash flows that can be clearly distinguished from the rest of the entity and will in all probability have been a cash-generating unit (or group of such units) whilst held for use. This definition also means that a discontinued operation will also fall to be treated as a ‘disposal group’ as defined in IFRS 5. A disposal group is a group of assets (possibly with associated liabilities) that it is intended will be disposed of in a single transaction by sale or otherwise (closure or abandonment). Assets held for disposal (but not those being abandoned) must be presented separately (at the lower of cost or fair value less costs to sell) from other assets and included as current assets (rather than as non-current assets) and any associated liabilities must be separately presented under liabilities. The results of a discontinued operation should be disclosed separately as a single figure (as a minimum)on the face of the income statement with more detailed figures disclosed either also on the face of the income statement or in the notes.The intention of this requirement is to improve the usefulness of the financial statements by improving the predictive value of the (historical) income statement. Clearly the results from discontinued operations should have little impact on future operating results. Thus users can focus on the continuing activities in any assessment of future income and profit.(ii)The timing of the board meeting and consequent actions and notifications is within the accounting period ended 31 October 2006. The notification of staff, suppliers and the press seems to indicate that the sale will be highly probable and the directors are committed to a plan to sell the assets and are actively locating a buyer. From the financial and other information given in the question it appears that the travel agencies’ operations and cash flows can be clearly distinguished from its other operations. The assets of the travel agencies appear to meet the definition of non-current assets held for sale; however the main difficulty is whether their sale and closure also represent a discontinued operation.The main issue is with the wording of ‘a separate major line of business’ in part (i) of the above definition of a discontinued operation. The company is still operating in the holiday business, but only through Internet selling. The selling of holidays through the Internet compared with through high-street travel agencies requires very different assets,staff knowledge and training and has a different cost structure. It could therefore be argued that although the company is still selling holidays the travel agencies do represent a separate line of business. If this is the case, it seems the announced closure of the travel agencies appears to meet the definition of a discontinued operation.。

P a p e r F 6 ( U K )This is a blank page.The question paper begins on page 3.2SUPPLEMENTARY INSTRUCTIONS1.Calculations and workings need only be made to the nearest £.2.All apportionments should be made to the nearest month.3.All workings should be shown.TAX RATES AND ALLOWANCESThe following tax rates and allowances are to be used in answering the questions.Income tax% Basic rate£1 – £37,40020 Higher rate£37,401 and above40 A starting rate of 10% applies to savings income where it falls within the first £2,440 of taxable income.Personal allowancePersonal allowance Standard £6,475 Personal allowance65 – 74£9,490 Personal allowance75 and over£9,640 Income limit for age related allowances£22,900Car benefit percentageThe base level of CO2emissions is 135 grams per kilometre. A lower rate of 10% applies to petrol cars with CO2emissions of 120 grams per kilometre or less.Car fuel benefitThe base figure for calculating the car fuel benefit is £16,900.Pension scheme limitsAnnual allowance£245,000The maximum contribution that can qualify for tax relief without any earnings is £3,600.Authorised mileage allowances: carsUp to 10,000 miles40pOver 10,000 miles25p3[P.T.O.Capital allowances: rate of allowances% Plant and machineryMain pool–First year allowance40–Writing down allowance20 Special rate pool10The first-year allowance of 40% applies to expenditure during the period 6 April 2009 to 5 April 2010 (1 April 2009 to 31 March 2010 for limited companies).Motor carsCO2emissions up to 110 grams per kilometre100CO2emissions between 111 and 160 grams per kilometre20CO2emissions over 160 grams per kilometre10Annual investment allowanceFirst £50,000 of expenditure100Industrial buildingsWriting-down allowance2Corporation taxFinancial year200720082009Small companies rate20%21%21%Full rate30%28%28%Lower limit300,000300,000300,000Upper limit1,500,0001,500,0001,500,000Marginal relief fraction1/407/4007/400Marginal relief(M – P) x I/P x Marginal relief fractionExtended loss reliefExtended loss relief is capped at a maximum of £50,000. For limited companies it applies to loss making accounting periods ending between 24 November 2008 and 23 November 2010.Value added tax (VAT)Standard rate–Up to 31 December 200915·0%–From 1 January 2010 onwards17·5% Registration limit£68,000 Deregistration limit£66,000Capital gains taxRate of tax18%Annual exemption£10,100 Entrepreneurs’ relief–Lifetime limit£1,000,000–Relief factor 4/9ths4National insurance contributions(Not contracted out rates)%Class 1Employee£1 – £5,715 per year Nil£5,716 – £43,875 per year11·0£43,876 and above per year11·0Class 1Employer£1 – £5,715 per year Nil£5,716 and above per year12·8Class 1A12·8Class 2£2·40 per weekClass 4£1 – £5,715 per year Nil£5,716 – £43,875 per year8·0£43,876 and above per year1·0Rates of interest (assumed)Official rate of interest 4·75%Rate of interest on underpaid tax 2·5%Rate of interest on overpaid tax0·0%5[P.T.O.ALL FIVE questions are compulsory and MUST be attempted1Auy Man and Bim Men have been in partnership since 6 April 2000 as management consultants. The following information is available for the tax year 2009–10:Personal informationAuy is aged 32. During the tax year 2009–10 she spent 190 days in the United Kingdom. Bim is aged 56. During the tax year 2009–10 she spent 100 days in the United Kingdom. Bim has spent the same amount of time in the United Kingdom for each of the previous five tax years.Profit and loss account for the year ended 5 April 2010The partnership’s summarised profit and loss account for the year ended 5 April 2010 is as follows:Note££Sales1142,200Expenses2Depreciation3,400Motor expenses34,100Other expenses41,800Wages and salaries550,900–––––––60,200––––––––Net profit82,000––––––––(1)The sales figure of £142,200 is exclusive of output value added tax (VAT) of £21,600.(2)The expenses figures are exclusive of recoverable input VAT of:Motor expenses£180Other expenses£140(3)The figure of £4,100 for motor expenses includes £2,600 in respect of the partners’ motor cars, with 30% ofthis amount being in respect of private journeys.(4)The figure of £1,800 for other expenses includes £720 for entertaining employees. The remaining expenses areall allowable.(5)The figure of £50,900 for wages and salaries includes the annual salary of £4,000 paid to Bim (see the profitsharing note below), and the annual salary of £15,000 paid to Auy’s husband, who works part-time for the partnership. Another part-time employee doing the same job is paid a salary of £10,000 per annum.Plant and machineryOn 6 April 2009 the tax written down values of the partnership’s plant and machinery were as follows:£Main pool3,100Motor car [1]18,000Motor car [2]14,000The following transactions took place during the year ended 5 April 2010:Cost/(Proceeds)£8 May 2009Sold motor car [2](13,100)8 May 2009Purchased motor car [3]11,60021 November 2009Purchased motor car [4]14,20014 January 2010Purchased motor car [5]8,700Motor car [1] has a CO2emission rate of 185 grams per kilometre. It is used by Auy, and 70% of the mileage is forbusiness journeys.6Motor car [2] had a CO2emission rate of 145 grams per kilometre. It was used by Bim, and 70% of the mileage wasfor business journeys. Motor car [3] purchased on 8 May 2009 has a CO2emission rate of 105 grams per kilometre.It is used by Bim, and 70% of the mileage is for business journeys.Motor car [4] purchased on 21 November 2009 has a CO2emission rate of 135 grams per kilometre. Motor car [5]purchased on 14 January 2010 has a CO2emission rate of 200 grams per kilometre. These two motor cars are usedby employees of the business.Profit sharingProfits are shared 80% to Auy and 20% to Bim. This is after paying an annual salary of £4,000 to Bim, and interest at the rate of 5% on the partners’ capital account balances. The capital account balances are:£Auy Man56,000Bim Men34,000VATThe partnership has been registered for VAT since 6 April 2000. However, the partnership has recently started invoicing for its services on new payment terms, and the partners are concerned about output VAT being accounted for at the appropriate time.Required:(a)Explain why both Auy Man and Bim Men will each be treated for tax purposes as resident in the UnitedKingdom for the tax year 2009–10. (2 marks) (b)Calculate the partnership’s tax adjusted trading profit for the year ended 5 April 2010, and the tradingincome assessments of Auy Man and Bim Men for the tax year 2009–10.Note: Your computation should commence with the net profit figure of £82,000, and should also list all of the items referred to in notes (2) to (5) indicating by the use of zero (0) any items that do not require adjustment.(15 marks)(c)Calculate the class 4 national insurance contributions payable by Auy Man and Bim Men for the tax year2009–10.(3 marks)(d)(i)Advise the partnership of the VAT rules that determine the tax point in respect of a supply of services;(3 marks)(ii)Calculate the amount of VAT paid by the partnership to HM Revenue & Customs throughout the year ended 5 April 2010;Note: you should ignore the output VAT scale charges due in respect of fuel for private journeys.(2 marks)(iii)Advise the partnership of the conditions that it must satisfy in order to join and continue to use the VAT flat rate scheme, and calculate the tax saving if the partnership had used the flat rate scheme to calculate the amount of VAT payable throughout the year ended 5 April 2010.Note: you should assume that the relevant flat rate scheme percentage for the partnership’s trade was 11% throughout the whole of the year ended 5 April 2010.(5 marks)(30 marks)7[P.T.O.2(a)You should assume that today’s date is 28 March 2010.Mice Ltd commenced trading on 1 July 2006 as a manufacturer of computer peripherals. The company prepares accounts to 31 March, and its results for the first three periods of trading were as follows:Period ended Year ended Year ended31 March31 March31 March200720082009£££T rading profit83,20024,70051,200Property business profit2,8007,10012,200Gift aid donations(1,000)(1,500)–The following information is available in respect of the year ended 31 March 2010:Trading lossMice Ltd expects to make a trading loss of £180,000.Business property incomeMice Ltd lets out three office buildings that are surplus to requirements.The first office building is owned freehold. The property was let throughout the year ended 31 March 2010 at a quarterly rent of £3,200, payable in advance. Mice Ltd paid business rates of £2,200 and insurance of £460 in respect of this property for the year ended 31 March 2010. During June 2009 Mice Ltd repaired the existing car park for this property at a cost of £1,060, and then subsequently enlarged the car park at a cost f £2,640.The second office building is owned leasehold. Mice Ltd pays an annual rent of £7,800 for this property, but did not pay a premium when the lease was acquired. On 1 April 2009 the property was sub-let to a tenant, with Mice Ltd receiving a premium of £18,000 for the grant of an eight-year lease. The company also received the annual rent of £6,000 which was payable in advance. Mice Ltd paid insurance of £310 in respect of this property for the year ended 31 March 2010.The third office building is also owned freehold. Mice Ltd purchased the freehold of this building on 1 January 2010, and it will be empty until 31 March 2010. The building is to be let from 1 April 2010 at a monthly rent of £640, and on 15 March 2010 Mice Ltd received three months rent in advance. On 1 January 2010 Mice Ltd paid insurance of £480 in respect of this property for the year ended 31 December 2010, and during February 2010 spent £680 on advertising for tenants. Mice Ltd paid loan interest of £1,800 in respect of the period 1 January 2010 to 31 March 2010 on a loan that was taken out to purchase this property.Loan interest receivedOn 1 July 2009 Mice Ltd made a loan for non-trading purposes. Loan interest of £6,400 was received on31 December 2009, and £3,200 will be accrued at 31 March 2010.Overseas dividendOn 15 October 2009 Mice Ltd received a dividend of £7,400 (net) from a 3% shareholding in U SB Inc, a company that is resident overseas. Withholding tax was withheld from this dividend at the rate of 7·5%.Chargeable gainOn 20 December 2009 Mice Ltd sold its 3% shareholding in USB Inc. The disposal resulted in a chargeable gain of £10,550, after taking account of indexation.Required:(i)Calculate Mice Ltd’s property business profit for the year ended 31 March 2010;(8 marks)(ii)Assuming that Mice Ltd claims relief for its trading loss as early as possible, calculate the company’s profits chargeable to corporation tax for the nine-month period ended 31 March 2007, and each of theyears ended 31 March 2008, 2009 and 2010.(7 marks)8(b)Mice Ltd has owned 100% of the ordinary share capital of Web-Cam Ltd since it began trading on 1 April 2009.For the three-month period ended 30 June 2009 Web-Cam Ltd made a trading profit of £28,000, and is expected to make a trading profit of £224,000 for the year ended 30 June 2010. Web-Cam Ltd has no other taxable profits or allowable losses.Required:Assuming that Mice Ltd does not make any loss relief claim against its own profits, advise Web-Cam Ltd as to the maximum amount of group relief that can be claimed from Mice Ltd in respect of the trading loss of £180,000 for the year ended 31 March 2010.(3 marks) (c)Mice Ltd has surplus funds of £75,000 which it is planning to spend before 31 March 2010. The company willeither purchase new equipment for £75,000, or alternatively it will purchase a new ventilation system for £75,000, which will be installed as part of its factory.Mice Ltd has not made any other purchases of assets during the year ended 31 March 2010, and neither has its subsidiary company Web-Cam Ltd.Required:Explain the maximum amount of capital allowances that Mice Ltd will be able to claim for the year ended31 March 2010 in respect of each of the two alternative purchases of assets.Note: You are not expected to recalculate Mice Ltd’s trading loss for the year ended 31 March 2010, or redo any of the calculations made in parts (a) and (b) above.(4 marks) (d)Mice Ltd is planning to pay its managing director a bonus of £40,000 on 31 March 2010. The managing directorhas already been paid gross director’s remuneration of £80,000 during the tax year 2009–10, and the bonus of £40,000 will be paid as additional director’s remuneration.Required:Advise the managing director as to the additional amount of income tax and national insurance contributions (both employee’s and employer’s) that will be payable as a result of the payment of the additional director’s remuneration of £40,000.Note: You are not expected to recalculate Mice Ltd’s trading loss for the year ended 31 March 2010, or redo any of the calculations made in parts (a) and (b) above.(3 marks)(25 marks)9[P.T.O.3Problematic Ltd sold the following assets during the year ended 31 March 2010:(1)On 14 June 2009 16,000 £1 ordinary shares in Easy plc were sold for £54,400. Problematic Ltd had originallypurchased 15,000 shares in Easy plc on 26 June 1994 for £12,600. On 28 September 2006 Easy plc madea 1 for 3 rights issue. Problematic Ltd took up its allocation under the rights issue in full, paying £2·20 for eachnew share issued. The relevant retail prices indexes (RPIs) are as follows:June 1994144·7September 2006200·1June 2009213·0(2)On 1 October 2009 an office building owned by Problematic Ltd was damaged by a fire. The indexed cost of theoffice building on that date was £169,000. The company received insurance proceeds of £36,000 on10 October 2009, and spent a total of £41,000 during October 2009 on restoring the office building.Problematic Ltd has made a claim to defer the gain arising from the receipt of the insurance proceeds. The office building has never been used for business purposes.(3)On 28 January 2010 a freehold factory was sold for £171,000. The indexed cost of the factory on that date was£127,000. Problematic Ltd has made a claim to holdover the gain on the factory against the cost of a replacement leasehold factory under the rollover relief (replacement of business assets) rules. The leasehold factory has a lease period of 20 years, and was purchased on 10 December 2009 for £154,800. The two factory buildings have always been used entirely for business purposes.(4)On 20 February 2010 an acre of land was sold for £130,000. Problematic Ltd had originally purchased fouracres of land, and the indexed cost of the four acres on 20 February 2010 was £300,000. The market value of the unsold three acres of land as at 20 February 2010 was £350,000. Problematic Ltd incurred legal fees of £3,200 in connection with the disposal. The land has never been used for business purposes.Problematic Ltd’s only other income for the year ended 31 March 2010 is a tax adjusted trading profit of £108,055.Required:(a)Calculate Problematic Ltd’s profits chargeable to corporation tax for the year ended 31 March 2010.(16 marks)(b)Advise Problematic Ltd of the carried forward indexed base costs for capital gains purposes of any assetsincluded in (1) to (4) above that are still retained at 31 March 2010.(4 marks)(20 marks)104You should assume that today’s date is 30 June 2011.You are a trainee Chartered Certified Accountant and are dealing with the tax affairs of Ernest Vader.Ernest’s self-assessment tax return for the tax year 2009–10 was submitted to HM Revenue & Customs (HMRC) on15 May 2010, and Ernest paid the resulting income tax liability by the due date of 31 January 2011. However, youhave just discovered that during the tax year 2009–10 Ernest disposed of a freehold property, the details of which were omitted from his self-assessment tax return. The capital gains tax liability in respect of this disposal is £18,000, and this amount has not been paid.Ernest has suggested that since HMRC’s right to raise an enquiry into his self-assessment tax return for the tax year 2009–10 expired on 15 May 2011, no disclosure should be made to HMRC of the capital gain.Required:(a)Briefly explain the difference between tax evasion and tax avoidance, and how HMRC would view thesituation if Ernest Vader does not disclose his capital gain.(3 marks)(b)Briefly explain from an ethical viewpoint how you, as a trainee Chartered Certified Accountant, should dealwith the suggestion from Ernest Vader that no disclosure is made to HMRC of his capital gain.(3 marks)(c)State the action HMRC will take should they wish to obtain information from Ernest Vader regarding hiscapital gain.(1 mark)(d)Explain why, even though the right to raise an enquiry has expired, HMRC will still be entitled to raise anassessment should they discover that Ernest Vader has not disclosed his capital gain. (2 marks)(e)Assuming that HMRC discover the capital gain and raise an assessment in respect of Ernest Vader’s capitalgains tax liability of £18,000 for the tax year 2009–10, and that this amount is then paid on 31 July 2011:(i)Calculate the amount of interest that will be payable;Note: you should assume that the rates for the tax year 2009–10 continue to apply.(2 marks) (ii)Advise Ernest Vader as to the amount of penalty that is likely to be charged as a result of the failure to notify HMRC, and how this could have been reduced if the capital gain had been disclosed.(4 marks)(15 marks)11[P.T.O.5For the year ended 31 January 2010 Quagmire plc had profits chargeable to corporation tax of £1,200,000 and franked investment income of £200,000. For the year ended 31 January 2009 the company had profits chargeable to corporation tax of £1,600,000 and franked investment income of £120,000.Quagmire plc’s profits accrue evenly throughout the year.Quagmire plc has one associated company.Required:(a)Explain why Quagmire plc will have been required to make quarterly instalment payments in respect of itscorporation tax liability for the year ended 31 January 2010. (3 marks)(b)Calculate Quagmire plc’s corporation tax liability for the year ended 31 January 2010, and explain how andwhen this will have been paid.(3 marks)(c)Explain how your answer to part (b) above would differ if Quagmire plc did not have an associated company.Your answer should include a calculation of the revised corporation tax liability for the year ended 31 January 2010. (4 marks)(10 marks)End of Question Paper12。

2006年全国硕士研究生入学统一考试英语真题及参考答案完整版Section IUse of EnglishDirections:Read the following text. Choose the best word(s) for each numbered blank and mark [A] [B] [C] or [D] on ANSWER SHEET 1. (10 points)The homeless make up a growing percentage of America’s population. __1__ homelessness has reached such proportions that local government can’t possibly __2__. To help homeless people__3__ independence the federal government must support job training programs __4__ the minimum wage and fund more low-cost housing.__5__ everyone agrees on the numbers of Americans who are homeless. Estimates __6__ anywhere from 600000 to 3 million. __7__ the figure may vary analysts do agree on another matter: that the number of the homeless is __8__. One of the federal governmen t’s studies __9__ that the number of the homeless will reach nearly 19 million by the end of this decade.Finding ways to __10__ this growing homeless population has become increasingly difficult.__11__ when homeless individuals manage to find a __12__ that will give them three meals a day and a place to sleep at night a good number still spend the bulk of each day __13__ the street. Part of the problem is that many homeless adults are addicted to alcohol or drugs. And a significant number of the homeless have serious mental disorders. Many others __14__ not addicted or mentally ill simply lack the everyday __15__ skills need to turn their lives __16__. Boston Globe reporter Chris Reidy notes that the situation will improve only when there are __17__ programs that address the many needs of the homeless. __18__ Edward Blotkowsk director of community service at Bentley College in Massachusetts __19__ it “There has to be __20__ of programs. What we need is a package deal.”1.[A] Indeed [B] Likewise [C] Therefore [D] Furthermore2.[A] stand [B] cope [C] approve [D] retain3.[A] in [B] for [C] with [D] toward4.[A] raise [B] add [C] take [D] keep5.[A] generally [B] almost [C] hardly [D] not6.[A] cover [B] change [C] range [D] differ7.[A] Now that [B] Although [C] Provided [D] Except that8.[A] inflating [B] expanding [C] increasing [D] extending9.[A] predicts [B] displays [C] proves [D] discovers10.[A] assist [B] track [C] sustain [D] dismiss11.[A] Hence [B] But [C] Even [D] Only12.[A] lodging [B] shelter [C] dwelling [D] house13.[A] searching [B] strolling [C] crowding [D] wandering14.[A] when [B] once [C] while [D] whereas15.[A] life [B] existence [C] survival [D] maintenance16.[A] around [B] over [C] on [D] up17.[A] complex [B] comprehensive [C] complementary [D] compensating18.[A] So [B] Since [C] As [D] Thus19.[A] puts [B] interprets [C] assumes [D] makes20.[A] supervision [B] manipulation [C] regulation [D] coordinationSection IIReading ComprehensionPart ADirections:Read the following four texts. Answer the questions below each text by choosing [A] [B] [C] or [D]. Mark your answers on ANSWER SHEET 1. (40 points)Text 1In spite of “endless talk of difference” American society is an amazing machine for homogenizing people. There is “the democ ratizing uniformity of dress and discourse and the casualness and absence of deference” characteristic of popular culture. People are absorbed into “a culture of consumption” launched by the 19th-century department stores that offered “vast arrays of goods in an elegant atmosphere. Instead of intimate shops catering to a knowledgeable elite” these were stores “anyone could enter regardless of class or background. This turned shopping into a public and democratic act.” The mass media advertising and sports a re other forces for homogenization. Immigrants are quickly fitting into this common culture which may not be altogether elevating but is hardly poisonous. Writing for the National Immigration Forum Gregory Rodriguez reports that today’s immigration is neit her at unprecedented levels nor resistant to assimilation. In 1998 immigrants were 9.8 percent of population; in 1900 13.6 percent. In the 10 years prior to 1990 3.1 immigrants arrived for every 1000 residents; in the 10 years prior to 1890 9.2 for every 1000. Now consider three indices of assimilation -- language home ownership and intermarriage.The 1990 Census revealed that “a majority of immigrants from each of the fifteen most common countries of origin spoke English ‘well’ or ‘very well’ after ten years of residence.” The children of immigrants tend to be bilingual and proficient in English. “By the third generation the original language is lost in the majority of immigrant families.” Hence the descxxxxription of America as a “graveyard” for languages. By 1996 foreign-born immigrants who had arrived before 1970 had a home ownership rate of 75.6 percent higher than the 69.8 percent rate among native-born Americans. Foreign-born Asians and Hispanics “have higher rates of intermarriage than do U.S.-born whites and blacks.” By the third generation one third of Hispanic women are married to non-Hispanics and 41 percent of Asian-American women are married to non-Asians.Rodriguez notes that children in remote villages around the world are fans of superstars like Arnold Schwarzenegger and Garth Brooks yet “some Americans fear that immigrants living within the United States remain somehow immune to the nation’s assimilative power.”Are there divisive issues and pockets of seething anger in America? Indeed. It is big enough to have a bit of everything. But particularly when viewed against America’s turbulent past today’s social indices hardly suggest a dark and deteriorating social environment.21.The word “homogenizing” (Line 2 Paragraph 1) most probably means ________.[A] identifying[B] associating[C] assimilating[D] monopolizing22.According to the author the department stores of the 19th century ________.[A] played a role in the spread of popular culture[B] became intimate shops for common consumers[C] satisfied the needs of a knowledgeable elite[D] owed its emergence to the culture of consumption23.The text suggests that immigrants now in the U.S. ________.[A] are resistant to homogenization[B] exert a great influence on American culture[C] are hardly a threat to the common culture[D] constitute the majority of the population24.Why are Arnold Schwarzenegger and Garth Brooks mentioned in Paragraph 5?[A] To prove their popularity around the world.[B] To reveal the public’s fear of immigrants.[C] To give examples of successful immigrants.[D] To show the powerful influence of American culture.25.In the author’s opinion the absorption of immigrants into American society is ________.[A] rewarding[B] successful[C] fruitless[D] harmfulText 2Stratford-on-Avon as we all know has only one industry -- William Shakespeare -- but there are two distinctly separate and increasingly hostile branches. There is the Royal Shakespeare Company (RSC) which presents superb productions of the plays at the Shakespeare Memorial Theatre on the Avon. And there are the townsfolk who largely live off the tourists who come not to see the plays but to look at Anne Hathaway’s Cottage Shakespeare’s birthplace and the other sights.The worthy residents of Stratford doubt that the theatre adds a penny to their revenue. They frankly dislike the RSC’s actors them with their long hair and beards and sandals and noisiness. It’s all deliciously ironic when you consider that Shakespeare who earns their living was himself an actor (with a beard) and did his share of noise-making.The tourist streams are not entirely separate. The sightseers who come by bus -- and often take in Warwick Castle and Blenheim Palace on the side -- don’t usually see the plays and some of them are even surprised to find a theatre in Stratford. However the playgoers do manage a little sight-seeing along with their playgoing. It is the playgoers the RSC contends who bring in much of the town’s revenue because they spend the night (some of them four or five nights) pouring cash into the hotels and restaurants. The sightseers can take in everything and get out of town by nightfall.The townsfolk don’t see it this way and local council does not contribute directly to the subsidy of the Royal Shakespeare Company. Stratford cries poor traditionally. Nevertheless every hotel in town seems to be adding a new wing or cocktail lounge. Hilton is building its own hotel there which you may be sure will be decorated with Hamlet Hamburger Bars the Lear Lounge the Banquo Banqueting Room and so forth and will be very expensive.Anyway the townsfolk can’t understand why the Royal Shakespeare Company needs a subsidy. (The theatre has broken attendance records for three years in a row. Last year its 1431 seats were 94 percent oc cupied all year long and this year they’ll do better.) The reason of course is that costs have rocketed and ticket prices have stayed low.It would be a shame to raise prices too much because it would drive away the young people who are Stratford’s most at tractive clientele. They come entirely for the plays not the sights. They all seem to look alike (though they come from all over) -- lean pointed dedicated faces wearing jeans and sandals eating their buns and bedding down for the night on the flagstones outside the theatre to buy the 20 seats and 80 standing-room tickets held for the sleepers and sold to them when the box office opens at 10:30 a.m.26.From the first two paragraphs we learn that ________.[A] the townsfolk deny the RSC’s contribution to the town’s revenue[B] the actors of the RSC imitate Shakespeare on and off stage[C] the two branches of the RSC are not on good terms[D] the townsfolk earn little from tourism27.It can be inferred from Paragraph 3 that ________.[A] the sightseers cannot visit the Castle and the Palace separately[B] the playgoers spend more money than the sightseers[C] the sightseers do more shopping than the playgoers[D] the playgoers go to no other places in town than the theater28.By saying “Stratford cries poor traditionally” (Line 2-3 Paragraph 4) the author implies that________.[A] Stratford cannot afford the expansion projects[B] Stratford has long been in financial difficulties[C] the town is not really short of money[D] the townsfolk used to be poorly paid29.According to the townsfolk the RSC deserves no subsidy because ________.[A] ticket prices can be raised to cover the spending[B] the company is financially ill-managed[C] the behavior of the actors is not socially acceptable[D] the theatre attendance is on the rise30.From the text we can conclude that the author ________.[A] is supportive of both sides[B] favors the townsfolk’s view[C] takes a detached attitude[D] is sympathetic to the RSCText 3When prehistoric man arrived in new parts of the world something strange happened to the large animals. They suddenly became extinct. Smaller species survived. The large slow-growing animals were easy game and were quickly hunted to extinction. Now something similar could be happening in the oceans.That the seas are being overfished has been known for years. What researchers such as Ransom Myers and Boris Worm have shown is just how fast things are changing. They have looked at half a century of data from fisheries around the world. Their methods do not attempt to estimate the actual biomass (the amount of living biological matter) of fish species in particular parts of the ocean but rather changes in that biomass over time. According to their latest paper published in Nature the biomass of large predators (animals that kill and eat other animals) in a new fishery is reduced on average by 80% within 15 years of the start of exploitation. In some long-fished areas it has halved again since then.Dr. Worm acknowledges that these figures are conservative. One reason for this is that fishing technology has improved. Today’s vessels can find their prey using satellites and sonar which were not available 50 years ago. That means a higher proportion of what is in the sea is being caught so the real difference between present and past is likely to be worse than the one recorded by changes in catch sizes. In the early days too longlines would have been more saturated with fish. Some individuals would therefore not have been caught since no baited hooks would have been available to trap them leading to an underestimate of fish stocks in the past. Furthermore in the early days of longline fishing a lot of fish were lost to sharks after they had been hooked. That is no longer a problem because there are fewer sharks around now.Dr. Myers and Dr. Worm argue that their work gives a correct baxxxxseline which future management efforts must take into account. They believe the data support an idea current among marine biologists that of the “shifting baxxxxseline.” The notion is that people have failed to detect the massive changes which have happened in the ocean because they have been looking back only a relatively short time into the past. That matters because theory suggests that the maximum sustainable yield that can be cropped from a fishery comes when the biomass of a target species is about 50% of its original levels. Most fisheries are well below that which is a bad way to do business.31.The extinction of large prehistoric animals is noted to suggest that ________.[A] large animal were vulnerable to the changing environment[B] small species survived as large animals disappeared[C] large sea animals may face the same threat today[D] slow-growing fish outlive fast-growing ones32.We can infer from Dr. Myers and Dr. W orm’s paper that ________.[A] the stock of large predators in some old fisheries has reduced by 90%[B] there are only half as many fisheries as there were 15 years ago[C] the catch sizes in new fisheries are only 20% of the original amount[D] the number of larger predators dropped faster in new fisheries than in the old33.By saying "these figures are conservative" (Line 1 paragraph 3) Dr. Worm means that ________.[A] fishing technology has improved rapidly[B] the catch-sizes are actually smaller than recorded[C] the marine biomass has suffered a greater loss[D] the data collected so far are out of date34.Dr. Myers and other researchers hold that ________.[A] people should look for a baxxxxseline that can work for a longer time[B] fisheries should keep their yields below 50% of the biomass[C] the ocean biomass should be restored to its original level[D] people should adjust the fishing baxxxxseline to the changing situation35.The author seems to be mainly concerned with most fisheries’ ________.[A] management efficiency[B] biomass level[C] catch-size limits[D] technological applicationText 4Many things make people think artists are weird. But the weirdest may be this: artists’ only job is to explore emotions and yet they choose to focus on the ones that feel bad.This wasn’t always so. The earliest forms of art like painting and music are those best suited for expressing joy. But somewhere from the 19th century onward more artists began seeing happiness as meaningless phony or worst of all b oring as we went from Wordsworth’s daffodils to Baudelaire’s flowers of evil.You could argue that art became more skeptical of happiness because modern times have seen so much misery. But it’s not as if earlier times didn’t know perpetual war disaster and the massacre of innocents. The reason in fact may be just the opposite: there is too much damn happiness in the world today.After all what is the one modern form of exxxxxpression almost completely dedicated to depicting happiness? Advertising. The rise of anti-happy art almost exactly tracks the emergence of mass media and with it a commercial culture in which happiness is not just an ideal but an ideology. People in earlier eras were surrounded by reminders of misery. They worked until exhausted lived with few protections and died young. In the West before mass communication and literacy the most powerful mass medium was the church which reminded worshippers that their souls were in danger and that they would someday be meat for worms. Given all this they did not exactly need their art to be a bummer too.Today the messages the average Westerner is surrounded with are not religious but commercial and forever happy. Fast-food eaters news anchors text messengers all smiling smiling smiling. Our magazines feature beaming celebrities and happy families in perfect homes. And since these messages have an agenda -- to lure us to open our wallets -- they make the very idea of happiness seem unreliable. “Celebrate!” commanded the ads for the arthritis drug Celebrex before we found out it could increase the risk of heart attacks.But what we forget -- what our economy depends on us forgetting -- is that happiness is more than pleasure without pain. The things that bring the greatest joy carry the greatest potential for loss and disappointment. Today surrounded by promises of easy happiness we need art to tell us as religion once did Memento mori: remember that you will die that everything ends and that happiness comes not in denying this but in living with it. It’s a message even more bitter than a clove cigarette yet somehow a breath of fresh air.36.By citing the examples of poets Wordsworth and Baudelaire the author intends to show that________.[A] poetry is not as expressive of joy as painting or music[B] art grows out of both positive and negative feelings[C] poets today are less skeptical of happiness[D] artists have changed their focus of interest37.The word “bummer” (Line 5 paragraph 5) most probably means something ________.[A] religious[B] unpleasant[C] entertaining[D] commercial38.In the author’s opinion advertising ________.[A] emerges in the wake of the anti-happy art[B] is a cause of disappointment for the general public[C] replaces the church as a major source of information[D] creates an illusion of happiness rather than happiness itself39.We can learn from the last paragraph that the author believes ________.[A] happiness more often than not ends in sadness[B] the anti-happy art is distasteful but refreshing[C] misery should be enjoyed rather than denied[D] the anti-happy art flourishes when economy booms40.Which of the following is true of the text?[A] Religion once functioned as a reminder of misery.[B] Art provides a balance between expectation and reality.[C] People feel disappointed at the realities of modern society.[D] Mass media are inclined to cover disasters and deathsPart BDirections:In the following article some sentences have been removed. For Questions 41-45 choose the most suitable one from the list A-G to fit into each of the numbered gaps. There are two extra choices which you do not need to use in any of the blanks. Mark your answers on ANSWER SHEET 1. (10 points)On the north bank of the Ohio river sits Evansville Ind. home of David Williams 52 and of a riverboat casino (a place where gambling games are played). During several years of gambling in that casino Williams a state auditor earning $35000 a year lost approximately $175000. He had never gambled before the casino sent him a coupon for $20 worth of gambling.He visited the casino lost the $20 and left. On his second visit he lost $800. The casino issued to him as a good customer a "Fun Card" which when used in the casino earns points for meals and drinks and enables the casino to track the user’s gambling activities. For Williams those activities become what he calls "electronic heroin".(41) ________. In 1997 he lost $21000 to one slot machine in two days. In March 1997 he lost $72186. He sometimes played two slot machines at a time all night until the boat docked at 5 a.m.then went back aboard when the casino opened at 9 a.m. Now he is suing the casino charging that it should have refused his patronage because it knew he was addicted. It did know he had a problem.In March 1998 a friend of Williams’s got him involuntarily confined to a treatment center for addictions and wrote to inform the casino of Williams’s gambling problem. The casino included a photo of Williams among those of banned gamblers and wrote to him a “cease admissions” letter. Noting the medical/psychological nature of problem gambling behavior the letter said that before being readmitted to the casino he would have to present medical/psychological information demonstrating that patronizing the casino would pose no threat to his safety or well-being.(42) ________.The Wall Street Journal reports that the casino has 24 signs warning: “Enjoy the fun... and always bet with your head not over it.” Every entrance ticket lists a toll-free number for counseling from the Indiana Department of Menta l Health. Nevertheless Williams’s suit charges that the casino knowing he was “helplessly addicted to gambling” intentionally worked to “lure” him to “engage in conduct against his will.” Well.(43) ________.The fourth edition of the Diagnostic and Statistical Manual of Mental Disorders says “pathological gambling” involves persistent recurring and uncontrollable pursuit less of money than of thrill of taking risks in quest of a windfall.(44) ________. Pushed by science or what claims to be science society is reclassifying what once were considered character flaws or moral failings as personality disorders akin to physical disabilities.(45) ________.Forty-four states have lotteries 29 have casinos and most of these states are to varying degrees dependent on -- you might say addicted to -- revenues from wagering. And since the first Internet gambling site was created in 1995 competition for gamblers’ dollars has become intense. The Oct. 28 issue of Newsweek reported that 2 million gamblers patronize 1800 virtual casinos every week. With $3.5 billion being lost on Internet wagers this year gambling has passed pornography as the Web’s most profitable business.[A]Although no such evidence was presented the casino’s marketing department continued to pepp er him with mailings. And he entered the casino and used his Fun Card without being detected.[B]It is unclear what luring was required given his compulsive behavior. And in what sense was his will operative?[C]By the time he had lost $5000 he said to himself that if he could get back to even he would quit. One night he won $5500 but he did not quit.[D]Gambling has been a common feature of American life forever but for a long time it was broadly considered a sin or a social disease. Now it is a social policy: the most important and aggressive promoter of gambling in America is the government.[E]David Williams’s suit should trouble this gambling nation. But don’t bet on it.[F]It is worrisome that society is medicalizing more and more behavioral problems often defining as addictions what earlier sterner generations explained as weakness of will.[G]The anonymous lonely undistracted nature of online gambling is especially conducive to compulsive behavior. But even if the government knew how to move against Internet gambling what would be its grounds for doing so?Part CDirections:Read the following text carefully and then translate the underlined segments into Chinese. Your translation should be written clearly on ANSWER SHEET 2. (10 points)Is it true that the American intellectual is rejected and considered of no account in his society? I am going to suggest that it is not true. Father Bruckberger told part of the story when he observed that it is the intellectuals who have rejected America. But they have done more than that. They have grown dissatisfied with the role of intellectual. It is they not America who have become anti-intellectual. First the obxxxxject of our study pleads for definition. What is an intellectual? 46）I shall define him as an individual who has elected as his primary duty and pleasure in life the activity of thinking in a Socratic (苏格拉底) way about moral problems. He explores such problems consciously articulately and frankly first by asking factual questions then by asking moral questions finally by suggesting action which seems appropriate in the light of the factual and moral information which he has obtained. 47)）His function is analogous to that of a judge who must accept the obligation of revealing in as obvious a manner as possible the course of reasoning which led him to his decision. This definition excludes many individuals usually referred to as intellectuals -- the average scientist for one. 48）I have excluded him because while his accomplishments may contribute to the solution of moral problems he has not been charged with the task of approaching any but the factual aspects of those problems. Like other human beings he encounters moral issues even in the everyday performance of his routine duties -- he is not supposed to cook his experiments manufacture evidence or doctor his reports. 49）But his primary task is not to think about the moral code which governs his activity any more than a businessman is expected to dedicate his energies to an exploration of rules of conduct in business. During most of his waking life he will take his code for granted as the businessman takes his ethics.The definition also excludes the majority of teachers despite the fact that teaching has traditionally been the method whereby many intellectuals earn their living. 50) They may teach very well and more than earn their salaries but most of them make little or no independent reflections on human problems which involve moral judgment. This descxxxxription even fits the majority of eminent scholars. Being learned in some branch of human knowledge is one thing living in "public and illustrious thoughts” as Emerson would say is something else.Section IIIWritingPart A51.DirectionsYou want to contribute to Project Hope by offering financial aid to a child in a remote area. Write a letter to the department concerned asking them to help find a candidate. You should specify what kind of child you want to help and how you will carry out your plan.Write your letter in no less than 100 words. Write it neatly on ANSWER SHEET 2.Do not sign your own name at the end of the letter; use “Li Ming” instead.Do not write the address. (10 points)Part B52.Directions:Study the following photos carefully and write an essay in which you should1. describe the photos briefly2. interpret the social phenomenon reflected by them and3. give your point of view.You should write 160-200 words neatly on ANSWER SHEET 2. (20 points)有两幅图片，图1 把崇拜写在脸上;图2 花300元做“小贝头”注：Beckham是英国足球明星有两张照片，一张照片上有一位男士脸上写着足球明星的名字，另一张照片上有一个男子在理发，他要求理发师为他设计一个小贝克汉姆的发型。

会计分录中英文试题及答案1. 某公司购买了价值10,000元的办公用品，款项尚未支付。

请用会计分录表示这笔交易。

2. 某企业收到客户支付的货款20,000元，存入银行。

请用会计分录记录这笔收入。

3. 公司支付了5,000元的租金。

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4. 某公司购买了一台机器设备，价值50,000元，款项已支付。

请用会计分录记录这笔购买。

5. 公司本月的营业收入为100,000元，但尚未收到款项。

请用会计分录表示这笔收入。

答案1. 借：办公用品 10,000元贷：应付账款 10,000元Debit: Office Supplies 10,000 yuanCredit: Accounts Payable 10,000 yuan2. 借：银行存款 20,000元贷：主营业务收入 20,000元Debit: Bank Deposits 20,000 yuanCredit: Main Business Revenue 20,000 yuan3. 借：租金支出 5,000元贷：现金 5,000元Debit: Rent Expense 5,000 yuanCredit: Cash 5,000 yuan4. 借：固定资产 50,000元贷：银行存款 50,000元Debit: Fixed Assets 50,000 yuanCredit: Bank Deposits 50,000 yuan5. 借：应收账款 100,000元贷：主营业务收入 100,000元Debit: Accounts Receivable 100,000 yuanCredit: Main Business Revenue 100,000 yuan请注意，以上会计分录仅作为示例，实际会计分录应根据具体的会计政策和业务情况进行调整。

会计分录中英文试题及答案1. Question: 根据以下信息，完成下列会计分录：Information:- 公司A取得一份合同，向客户B提供服务，总金额为100,000美元。

- 公司A预收了80%的款项，余下的20%将在完成服务后支付。

- 公司A的会计周期为月末结算一次。

Answer:1) 在接到合同时借：应收账款（客户B） 100,000美元贷：服务收入 100,000美元2) 预收款项借：现金（银行存款） 80,000美元贷：预收账款（客户B） 80,000美元3) 完成服务后借：服务收入 20,000美元贷：应收账款（客户B） 20,000美元2. Question: 根据以下信息，完成下列会计分录：Information:- 公司C购买了一台新的机器，总支出为50,000欧元。

- 公司C选择以分期付款的方式，分为两个月支付。

- 分期支付无利息，并且已包含在总支出中。

Answer:1) 购买机器时借：固定资产（机器） 50,000欧元贷：应付账款（机器供应商） 50,000欧元2) 第一个月支付借：应付账款（机器供应商） 25,000欧元贷：现金（银行存款） 25,000欧元3) 第二个月支付借：应付账款（机器供应商） 25,000欧元贷：现金（银行存款） 25,000欧元3. Question: 根据以下信息，完成下列会计分录：Information:- 公司D向供应商E购买材料，总计花费为10,000英镑。

- 公司D选择30天内支付，并获得10%的折扣。

Answer:1) 购买材料时借：材料库存 10,000英镑贷：应付账款（供应商E） 10,000英镑2) 支付账款（30天内）借：应付账款（供应商E） 9,000英镑借：现金（银行存款） 1,000英镑贷：材料折扣收入 1,000英镑贷：现金（银行存款） 9,000英镑以上为会计分录中英文试题及答案。

希望对您有帮助！。

会计英语考试题目及答案一、选择题（每题2分，共20分）1. What is the basic accounting equation?A) Assets = Liabilities + EquityB) Revenue - Expenses = Net IncomeC) Assets = LiabilitiesD) Liabilities = Equity答案：A2. Which of the following is not a type of financial statement?A) Balance SheetB) Income StatementC) Cash Flow StatementD) Tax Return答案：D3. What is the purpose of adjusting entries in accounting?A) To increase profitsB) To match revenues and expensesC) To reduce taxesD) To make the financial statements more complex答案：B4. What is the term for the process of recording transactionsin a journal?A) PostingB) JournalizingC) ClosingD) Adjusting答案：B5. Which of the following is a non-current asset?A) InventoryB) Accounts PayableC) LandD) Prepaid Expenses答案：C6. What is the accounting term for the cost of goods sold?A) COGSB) CGSC) COSD) COGS答案：A7. What is the accounting treatment for depreciation?A) Increase in asset valueB) Decrease in asset valueC) Increase in revenueD) Decrease in expenses答案：B8. What is the formula for calculating the return on investment (ROI)?A) (Net Income / Total Assets) * 100B) (Net Income / Investment) * 100C) (Total Assets / Net Income) * 100D) (Investment / Net Income) * 100答案：B9. Which of the following is a principle of accounting?A) ConsistencyB) Fair valueC) Historical costD) All of the above答案：A10. What is the purpose of a trial balance?A) To calculate net incomeB) To determine the value of assetsC) To check the accuracy of accounting recordsD) To prepare financial statements答案：C二、简答题（每题5分，共30分）1. Define the term "Double Entry Accounting" and explain its significance in the accounting process.答案：Double Entry Accounting is a system of accountingthat records every transaction in at least two accounts, one as a debit and the other as a credit. It ensures that the accounting equation remains in balance and provides a comprehensive view of the financial transactions, thereby enhancing the accuracy and reliability of financial records.2. Explain the difference between "Accrual Accounting" and "Cash Accounting".答案：Accrual Accounting records transactions when they are incurred, regardless of when payment is received or made. It focuses on the matching principle, aligning revenues and expenses with the period they are earned or incurred. Cash Accounting, on the other hand, records transactions only when cash is received or paid, which provides a snapshot of the business's liquidity at a given time.3. What are the main components of a Balance Sheet?答案：The main components of a Balance Sheet are Assets, Liabilities, and Equity. Assets represent what the company owns, liabilities represent what the company owes, and equity represents the residual interest in the assets after deducting liabilities.4. Describe the accounting process for recording a sale on credit.答案：When a sale is made on credit, the accounting process involves debiting Accounts Receivable and crediting Sales Revenue. This reflects the increase in assets (AccountsReceivable) due to the sale and the increase in revenue from the sale. If the sale involves inventory, Inventory is also debited and Cost of Goods Sold is credited to reflect the reduction in inventory and the associated cost.5. What is the purpose of closing entries in accounting?答案：The purpose of closing entries is to transfer the balances of temporary accounts (revenue, expenses, and dividends) to the permanent account (Retained Earnings). This process prepares the financial statements for the next accounting period and provides a clear picture of the company's net income or loss for the period.6. Explain the concept of "Going Concern" in accounting.答案：The Going Concern concept assumes that a business will continue to operate for the foreseeable future, allowing it to realize its assets and discharge its liabilities in the normal course of business. This assumption is fundamental to the preparation of financial statements as it affects the valuation of assets and liabilities.三、案例分析题（每题25分，共50分）1. Assume you are an accountant for a company that has just completed its。

人事部二级笔译（CATTI）2006.11英译汉真题English to ChineseCompulsory TranslationThis week and next, governments, international agencies and nongovernmental organizations are gathering in Mexico City at the World Water Forum to discuss the legacy of global Mulhollandism in water - and to chart a new course.They could hardly have chosen a better location. Water is being pumped out of the aquifer on which Mexico City stands at twice the rate of replenishment. The result: the city is subsiding at the rate of about half a meter every decade. You can see the consequences in the cracked cathedrals, the tilting Palace of Arts and the broken water and sewerage pipes.Every region of the world has its own variant of the water crisis story. The mining of groundwater for irrigation has lowered the water table in parts of India and Pakistan by 30 meters in the past three decades. As water goes down, the cost of pumping goes up, undermining the livelihoods of poor farmers.What is driving the global water crisis? Physical availability is part of the problem. Unlike oil or coal, water is an infinitely renewable resource, but it is available in a finite quantity. With water use increasing at twice the rate of population growth, the amount available per person is shrinking - especially in some of the poorest countries.Challenging as physical scarcity may be in some countries, the real problems in water go deeper. The 20th-century model for water management was based on a simple idea: that water is an infinitely available free resource to be exploited, dammed or diverted without reference to scarcity or sustainability.Across the world, water-based ecological systems - rivers, lakes and watersheds - have been taken beyond the frontiers of ecological sustainabilityby policy makers who have turned a blind eye to the consequences of over- exploitation.We need a new model of water management for the 21st century. What does that mean? For starters, we have to stop using water like there’s no tomorrow - and that means using it more efficiently at levels that do not destroy our environment. The buzz- phrase at the Mexico Water forum is "integrated water resource management." What it means is that governments need to manage the private demand of different users and manage this precious resource in the public interest.二级笔译实务Topic 1John Kenneth Galbraith, the i conoclasticiconoclastic economist, teacher and diplomat, died Saturday at a hospital in Cambridge, Massachusetts. He was 97.Mr. Galbraith was one of the most widely read authors in the history of economics; among his 33 books was "The Affluent Society" （1958）, one of those rare works that forces a nation to re-examine its values. He wrote fluidly, even on complex topics, and many of his compelling phrases - among them "the affluent society," "conventional wisdom" and "countervailing power" - became part of the language.An imposing presence, lanky and angular at 6 feet 8 inches tall, Mr. Galbraith was consulted frequently by national leaders, and he gave advice freely, though it may have been ignored as often as it was taken. Mr. Galbraith clearly preferred taking issue with the conventional wisdom he distrusted.Mr. Galbraith, a revered lecturer for generations of Harvard students, nonetheless always commanded attention.From the 1930"s to the 1990"s Mr. Galbraith helped define the terms of the national political debate, influencing both the direction of the Democratic Party and the thinking of its leaders.He tutored Adlai E. Stevenson, the Democratic nominee for president in 1952 and 1956, on Keynesian economics. He advised President John F. Kennedy）（often over lobster stew at the Locke-Ober restaurant in their beloved Boston and served as his ambassador to India.Though he eventually broke with President Lyndon B. Johnson over the war in Vietnam, he helped conceive of Mr. Johnson’s Great Society program and wrote a major presidential address that outlined its purposes. In 1968, pursuing his opposition to the war, he helped Senator Eugene J. McCarthy seek the Democratic nomination for president.In the course of his long career, he undertook a number of government assignments, including the organization of price controls in World War II and speechwriting for Presidents Franklin D. Roosevelt, Kennedy and Johnson.He drew on his experiences in government to write three satirical novels. He took on the Harvard economics department with "A Tenured Professor," ridiculing, among others, a certain outspoken character who bore no small resemblance to himself.At his death, Mr. Galbraith was the emeritus professor of economics at Harvard, where he had taught for most of his career. A popular lecturer, he treated economics as an aspect of society and culture rather than as an arcane discipline of numbers.。