Principles of Marketing Marketing is the part of your business where money is made. In

第1题

Assume U.S.GAAP （generally accepted accounting principles) applies unless otherwise n

Assume U.S.GAAP (generally accepted accounting principles) applies unless otherwise noted.

A company has equipment with an original cost of $850,000, accumulated amortization of $300,000 and 5 years of estimated remaining useful life.Due to a change in market conditions the company now estimates that the equipment will only generate cash flows of $80,000 per year over its remaining useful life.The company’s incremental borrowing rate is 8 percent.Which of the following statements concerning impairment and future return on assets (ROA) is most accurate？ The asset is:

A.impaired and future ROA increases.

B.impaired and future ROA decreases.

C.not impaired and future ROA increases.

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第2题

Assume U.S. GAAP （generally accepted accounting principles) applies unless otherwise

Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.

A company has equipment with an original cost of $850,000, accumulated amortization of $300,000 and 5 years of estimated remaining useful life. Due to a change in market conditions the company now estimates that the equipment will only generate cash flows of $80,000 per year over its remaining useful life. The company’s incremental borrowing rate is 8 percent. Which of the following statements concerning impairment and future return on assets (ROA) is most accurate？ The asset is:

A. impaired and future ROA increases.

B. impaired and future ROA decreases.

C. not impaired and future ROA increases.

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第3题

（d) Sirus raised a loan with a bank of $2 million on 1 May 2007. The market interest rate

(d) Sirus raised a loan with a bank of $2 million on 1 May 2007. The market interest rate of 8% per annum is to

be paid annually in arrears and the principal is to be repaid in 10 years time. The terms of the loan allow Sirus

to redeem the loan after seven years by paying the full amount of the interest to be charged over the ten year

period, plus a penalty of $200,000 and the principal of $2 million. The effective interest rate of the repayment

option is 9·1%. The directors of Sirus are currently restructuring the funding of the company and are in initial

discussions with the bank about the possibility of repaying the loan within the next financial year. Sirus is

uncertain about the accounting treatment for the current loan agreement and whether the loan can be shown as

a current liability because of the discussions with the bank. (6 marks)

Appropriateness of the format and presentation of the report and quality of discussion (2 marks)

Required:

Draft a report to the directors of Sirus which discusses the principles and nature of the accounting treatment of

the above elements under International Financial Reporting Standards in the financial statements for the year

ended 30 April 2008.

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第4题

5 Jones and Cousin, a public quoted company, operate in twenty seven different countries a

nd earn revenue and incur

costs in several currencies. The group develops, manufactures and markets products in the medical sector. The growth

of the group has been achieved by investment and acquisition. It is organised into three global business units which

manage their sales in international markets, and take full responsibility for strategy and business performance. Only

five per cent of the business is in the country of incorporation. Competition in the sector is quite fierce.

The group competes across a wide range of geographic and product markets and encourages its subsidiaries to

enhance local communities by reinvestment of profits in local educational projects. The group’s share of revenue in a

market sector is often determined by government policy. The markets contain a number of different competitors

including specialised and large international corporations. At present the group is awaiting regulatory approval for a

range of new products to grow its market share. The group lodges its patents for products and enters into legal

proceedings where necessary to protect patents. The products are sourced from a wide range of suppliers, who, once

approved both from a qualitative and ethical perspective, are generally given a long term contract for the supply of

goods. Obsolete products are disposed of with concern for the environment and the health of its customers, with

reusable materials normally being used. The industry is highly regulated in terms of medical and environmental laws

and regulations. The products normally carry a low health risk.

The Group has developed a set of corporate and social responsibility principles during the period which is the

responsibility of the Board of Directors. The Managing Director manages the risks arising from corporate and social

responsibility issues. The group wishes to retain and attract employees and follows policies which ensure equal

opportunity for all the employees. Employees are informed of management policies, and regularly receive in-house

training.

The Group enters into contracts for fixed rate currency swaps and uses floating to fixed rate interest rate swaps. The

cash flow effects of these swaps match the cash flows on the underlying financial instruments. All financial

instruments are accounted for as cash flow hedges. A significant amount of trading activity is denominated in the

Dinar and the Euro. The dollar is its functional currency.

Required:

(a) Describe the principles behind the Management Commentary discussing whether the commentary should be

mandatory or whether directors should be free to use their judgement as to what should be included in such

a commentary. (13 marks)

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第5题

材料：Failing to identify pre-shipment damage and neglecting to make appropriate notations

材料：

Failing to identify pre-shipment damage and neglecting to make appropriate notations on bills of lading will deprive the carrier of his rights，limitations and immunities under the contract of carriage and may prejudice Club cover．Assertions are sometimes made by cargo interests that rust on a particular shipment is normal and will not affect its market value．

Such comments should be disregarded.In all cases where a steel cargo is found to be rusty，it is imperative that remarks are made on the bills of lading，irrespective of the apparent severity of the rust．The bills of lading should also be claused to reflect any physical pre-shipment damage to the steel and/or wrappers（bends，tears，crimps，dents，deformation，crushing）．

Selecting the most appropriate clauses to describe pre-shipment damage is not always easy，and the attending surveyor should be consulted for advice． Where possible，the clausing should list the identification marks of the damaged GOODs，failing which the number of coils or packages should be quantified.Percentage estimates regarding the number of damaged pieces should not be given．If it is not possible to identify the damaged GOODs specifically，the words“some”or“several”may be acceptable．Any differences found between the ship and shore tally or ship and bill of lading figures must be noted on the bill of lading in the usual manner．

问题：

The clausing on B/L is to reflect and make notation of ________ the cargoes and/or their wrappers．

A.all damages incurred during the carriage by sea to

B.all possible damages to and/or losses of

C.physical pre-shipment damages to

D.pre-shipment damages to

The proper topic of this paragraph is ________．A.The Principles for Clausing on Bills of Lading

B.Losses of and Damages to Steel Cargoes

C.Legal Actions to Be Taken When Losses of and Damages to Cargoes Incurred

D.The Functions of Clauses Made on Bills of Lading

The pre-shipment rusts for which there are assertions made by cargo interests that they are normal and would not affect the cargo's market value shall ________．A.be claused on the Bill of Lading

B.not be claused on the Bill of Lading

C.be disregarded

D.not be disregarded

This paragraph is most likely compiled to protect the interests of ________．A.the carriers

B.the shippers

C.the merchants

D.the cargo owners

请帮忙给出每个问题的正确答案和分析，谢谢！

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第6题

When Franklin D. Roosevelt was elected President of the United States in 1932, not only th

e United States but also the rest of the world was in the throes of an economic depression. Following the termination of World War I, Britain and the United States at first experienced a boom in industry. Called the roaring Twenties, the 1920s ushered in a number of things--prosperity, greater e quality for women in the work world, rising consumption, and easy credit. The outlook for American business was rosy.

October 1929 was a month that had catastrophic economic reverberations worldwide. The American stock market witnessed the "Great Crash," as it is called, and the temporary boom in the American economy came to a standstill. Stock prices sank, and panic spread. The ensuing unemployment figure soared to 12 million by 1932.

Germany in the postwar years suffered from extreme deprivation because of burdensome compensation it was obliged to pay to the Allies. The country' s industrial capacity had been greatly diminished by the war. Inflation, political instability, and high unemployment were factors helpful to the growth of the initial Nazi party. Germans had lost confidence in their old leaders and heralded tile arrival of a messiah-like figure who would lead them out of their economic wilderness. Hitler promised jobs and, once elected, kept his promise by providing employment in the party, in the newly expanded army, and in munitions factories.

Roosevelt was elected because he promised a "New Deal" to lift the United States out of the doldrums of the depression. Following the principles by Keynes, a British economist, Roosevelt collected the spending capacities of the federal government to provide welfare, work, and agricultural aid to the millions of down-and-out Americans. Elected President for four terms because of his innovative policies, Roosevelt succeeded in dragging the nation out of the depression before the outbreak of World War Ⅱ.

Which of the following was NOT true at the time Roosevelt was elected？

A．Stock prices were recovering slowly.

B．The nation were recovering slowly.

C．There were 12 million unemployed workers.

D．The nation needed help from the federal government.

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第7题

OPEC to Increase ProductionVIENNA （Reuters) OPEC oil exporters agreed to raise output li

OPEC to Increase Production

VIENNA (Reuters) OPEC oil exporters agreed to raise output limits on Tuesday but second largest producer Iran, fearing a slump in oil prices, opted out of the deal.

The Organization of the Petroleum Exporting Countries said nine members, excluding Iran, would immediately turn up the taps to 1.45 million barrels daily, or seven percent, easing output curbs made a year ago.

The pact came after heavy pressure from OPEC's biggest customer the United States to ease the price of oil and avert a slowdown in economic growth in the West.

Saudi Oil Minister Ali al--Naimi said he hoped to see the price of North Sea Brent in the range of $20-$25 a barrel.

"This decision was made in the interests of producers and consumers in a prudent way. It will have a positive impact and moderate prices," he said.

Iran, outside the pact, said it would raise production in any case, though not by as much as under the quota it was offered.

Iranian Oil Minister Bijan Zanganeh said he saw room for only one million barrels a day of extra oil. He said Tehran saw no shortage in the market.

"Our differences are on principles, and not only a few barrels," Zanganeh told reporters after the meeting had closed.

"OPEC is not a political organization," he added.

He had complained during the two-day OPEC meeting of "political pressure". OPEC delegates said that was an apparent reference to the United States which launched a diplomatic offensive to get OPEC to raise supplies and lower oil prices on the world market.

In Washington, President Clinton said of extra supply: "In the aggregate it could be sufficient to get production and consumption back in alignment," he said.

Analysts said they expected oil prices, already on the slide from recent highs, falling quickly into the $20-$25 range.

"This will mean extra supply and have a negative impact on oil prices," said Gary Rose of Petroleum Industry Research Associates.

"We're going to see a stock build in the second quarter. I would not be surprised to see Brent at $21-$22.”

Rose said: "The United States was pressing hard for a substantial increase and most in OPEC were in favor of a big increase." Iran has expressed its displeasure at this political.

Non-OPEC Mexico and Norway, having cooperated with OPEC in cutting exports when prices crashed, are shortly expected to announce their own increases.

1. () Iran will raise production at all, but less than it was offered under the quota.

2. () Iranian Oil Minister Bijan Zanganeh said the market could absorb 1.45 million barrels of extra oil a day at present.

3. () President Clinton said the new agreement could bring production back to the same level as consumption.

4. () Industry analysts said that the extra oil could have a positive effect on the oil market.

5.() Non-OPEC oil producers such as Mexico and Norway have been competing fiercely with OPEC for world market over the years.

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第8题

阅读：Designing a lens can be compared to playing chess. In chess a player tries　to trap his opponent's

Questions 31 to 35 are based on the following passage:

Designing a lens can be compared to playing chess. In chess a player tries　to trap his opponent's king in a series of moves. In creating a lens a lens designer attempts to “trap” light by forcing all the rays arising from a single point in the subject to focus on a single point in the image, as a consequence of their passing through a series of transparent(透明的) elements with precisely curved surfaces. Since in both cases the ultimate goal and the means by which it can be attained are known, one is tempted to think there will be a single best decision at any point along the way. The number of possible consequences flowing from any one decision is so large, however, as to bevirtually, if not actually, infinite. Therefore in lens design, as inchess, perfect solutions to a problem are beyond reach. Although this article will be concerned only with the design of photographic lenses, the same principles apply to all lenses.

The lens designer has one enormous advantage over the chess player: the designer is free to call on any available source of help to guide him through the staggering number of possibilities. Most of that help once came from mathematics and physics, but recently computer technology, information theory,chemistry, industrial engineering and psychophysics have all contributed to making the lens designer's job immeasurably more productive. Some of the lenses on the market today were inconceivable a decade ago. Others whose design is as much as a century old can now be mass produced at low cost. With the development of automatic production methods, lenses are made by the millions, both out of glass and out of plastics. Today's lenses are better than the best lenses used by the great photographers of the past.Moreover, their price may lower, in spite of the fact that 19th century craftsmen worked for only a few dollars a week and today's lenses are more complex. The lens designer cannot fail to be grateful for the science and technology that have made his work easier and his creations more widely available, but he is also humbled: it is no longer practical for a fine photographic lens to be designed from beginning to end by a single human mind.

31.Lens design and chess playing are similar in that ____.

A) the final goal and the means by which it can be reached are known

B) perfect solutions to a problem can be found

C) any one decision at any point along the way to the goal can bring numerous possible results

D) both A and C

32.The final goal of designing a lens is ____.

A) to trap the opponent's lenses

B) to focus light with lenses

C) to hand make lenses at low cost

D) to reflect light by means of curved surfaces

33.After the passage the author will talk about ____.

A) the principles of designing lenses

B) techniques of making contact lenses

C) the design of photographic lenses

D) styles of lenses

34.Which of the following words cannot be used to describe today's lenses？

A) More delicate. B) Cheaper. C) Numerous. D) Unpopular.

35.Lens designers today ____.

A) have a large source of help to fall back on B) receive a low salary

C) are less respectable than those of the past D) are not decisive in the lens design

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第9题

Designing a lens can be compared to playing chess. In chess a player tries to trap his opp

onent' s king in' a series of moves. On creating a lens, lens designers attempts to "trap" light by forcing all the rays arising from a single point in the subject to converge on a single point in the image, as a consequence of their passing through a series of transparent elements with precisely curved surfaces. Since in both cases the ultimate goal and the means by which it can be attained are known, one is tempted to think there will be a single best decision at any point along the way. The number of possible consequences flowing from any one decision is so large, however, as to be virtually, if not actually, infinite. Therefore in lens design, as in chess, perfect solutions to a problem are beyond reach. The same principles apply to all lenses.

The lens designer has one enormous advantage over the chess player. The designer is free to call on any available source of help to guide him through the countless number of possibilities. Most of that help once came from mathematics and physics, but recently computer technology, information theory, chemistry, industrial engineering and psychophysics have all contributed to making the designer' s job immeasurably more productive. Some of the lenses on the market today were inconceivable a decade ago. Others whose design is as much as a century old can now be mass-produced at low cost. With the development of automatic production methods, lenses are made by the millions, both out of glass and out of plastics. Today' s lenses are better than the best lenses used by the great photographers of the past. Moreover, their price may be lower, in spite of the fact that the 19th century craftsmen worked for only a few dollars a week and today' s lenses are more complex. The lens designer cannot fail to be grateful for the science and technology that have made his work easier and his creations more widely available, but he is also humbled: it is no longer practical for a fine photographic lens to be designed from beginning to end by a single human mind.

In what way does lens design resemble chess？

A．In the number of steps each takes towards the goal.

B．In the designs of the two activities.

C．The steps to the goals and the goal itself are known.

D．Each has a doer and a competitor.

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第10题

I am always a little puzzled when I hear people complain about the difficulties of finding

a good job. Young people in their 20s express dissatisfaction that all the good jobs have been taken by those in their 40s. People in their 40s, trapped in the middle groups of the workforce, complain about waiting for their elders to. make room for them at the top. Older employees worry about being forced out of the job market prematurely by younger people willing to work at entry-level wages. It is not a pretty picture.

But I do not buy it. In my view, differences between generations are not a problem but an opportunity—if you remember to apply some basic principles of self-marketing. Most of us learned from Marketing 101 textbooks that there are four phases in the life cycle of a product or brand. The names may differ, but essentially the four phases are Introduction, Growth, Maturity and Decline. As a manager of high-profile athletes for more than 30 years, I know that these four phases certainly apply to the career and marketability of an athlete.

An athlete's introduction or start-up phase is when he or she starts competing, does well and captures the attention of people in the sport. Introduction turns into the growth phase when the athlete goes from being a promising performer to an established star. That's when everybody wants a piece of the athlete's time and he must stay focused on his primary talent and not get distracted by side issues.

For an athlete, the toughest thing about the mature phase may simply be recognizing that he or she is in it. If you're marketing a bar of soap it is easy to tell if the product is mature. It is there in the stagnant or shrinking sales figures. It is different with athletes. Not only do they think the growth phase will never end, but they often deny that there is any decrease in their athletic skills or marketability, no matter what the numbers say.

The decline phase for an athlete may sound harsh, but it doesn't have to be if he or she thinks of it as a reflective phase. In this phase an athlete can have tremendous future as a legendary figure who functions as an ambassador for his or her sport. If you substitute "employee" for "athlete" in these examples, these four phases apply to any individual's career.

I genuinely believe that whenever people face a career crisis, a big reason is because they are "out of phase." I have always been a tremendous advocate of recruiting older workers. With the massive downsizing of corporate America, there are tens of thousands of talented men and women over the age of 50 who feel shut out of the work-place. To me, these people are a gold mine—not because they are available but rather because they possess the qualities that employees in the introduction and growth phases lack, namely wisdom and experience. And since many of them received generous early-retirement packages, money is not their sole motivation. In other words, they are affordable.

If I were marketing myself in the mature phase, I'd focus on these qualities. Wisdom, experience and affordability make up a potent package. But you cannot do that unless you first recognize and fully appreciate the phase you are in.

What can be concluded from the passage？

A．Most young people cannot find a job if they don't study the four phase theory.

B．Young people with good jobs have studied the four phase theory.

C．Job seekers should fully understand the phase they are in.

D．Older employees will be forced out of job market by the young.

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第11题

It never rains but it pours. Just as bosses and boards have finally sorted out their worst

accounting and compliance troubles, and improved their feeble corporation governance, a new problem threatens to earn them—especially in American—the sort of nasty headlines that inevitably lead to heads rolling in the executive suite: data insecurity. Left, until now, to odd, low-level IT staff to put right, and seen as a concern only of data-rich industries such as banking, telecoms and air travel, information protection is now high on the boss's agenda in businesses of every variety.

Several massive leakages of customer and employee data this year—from organizations as diverse as Time Warner, the American defense contractor Science Applications International Corp and even the University of California, Berkeley—have left managers hurriedly peering into their intricate IT systems and business processes in search of potential vulnerabilities.

"Data is becoming an asset which needs to be guarded as much as ally other asset", says Haim Mendelson of Stanford University's business school. "The ability to guard customer data is the key to market value, which the board is responsible for on behalf of shareholders". Indeed, just as there is the concept of Generally Accepted Accounting Principles (GAAP), perhaps it is time for GASP. Generally Accepted Security Practices, suggested Eli Norm of New York's Columbia Business School. "Setting the proper investment level for security, redundancy, and recovery is a management issue, not a technical one". He says.

The mystery is that this should come as a surprise to any boss. Surely it should be obvious to the dimmest executive that trust, that most valuable of economic assets, is easily destroyed and hugely expensive to restore—and that few things are more likely to destroy trust than a company letting sensitive personal data get into the wrong hands.

The current state of affairs may have been encouraged—though not justified—by the lack of legal penalty (in America, but not Europe) for data leakage. Until California recently passed a law, American firms did not have to tell anyone, even the victim, when data went astray. That may change fast: lots of proposed data-security legislation is now doing the rounds in Washington, D.C. Meanwhile, the theft of information about some 40 million credit-card accounts in America, disclosed on June 17th, overshadowed a hugely important decision a day earlier by America's Federal Trade Commission (FTC) that puts corporate America on notice that regulators will act if firms fall to provide adequate data security.

The statement "It never rains but it pours" is used to introduce ______.

A．the fierce business competition

B．the feeble boss-board relations

C．the threat from news reports

D．the severity of data leakage

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