up-to-date video players
the latest computer systems
a new model of card reader
an automatic quoting machine
How many armored vehicles does your company dispatch for this job?A.We’ll dispatch several armored vehicles and escort securities for this jobB.The company has made a plan to send many vehicles and escort securities for this jobC.Two armored vehicles and experienced escort securities will be dispatched for this jobD.We’ll dispatch not only vehicles but also experienced securities for this job
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For the year just ended，N company had an earnings of$2 per share and paid a dividend of $1．2 0n its Stock．The growth rate in net income and dividend are both expected to be a constant 7 percent per year,indefinitely．N company has a Beta of 0．8，the risk-free interest rate is 6 percent，and the market risk premium is 8 percent．P Company is very similar to N company in growth rate，risk and dividend payout rati0．It had 20 million shares outstanding and an earnings of$36 million for the year just ended．The earnings will increase to$38．5 million the next year．Requirement：A．Calculate the expected rate of return on N company’S equity．B．Calculate N Company’S current price—eaming ratio and prospective price-earning rati0．C．Using N company’S current price-earning rati0，value P company’S stock price．D．Using N company’S prospective price-earning rati0，value P company’S stock price．
In the author’s opinion, employees should _____.［A］ invest in company stock to show loyalty to their employer［B］ get out of their own company’s stock［C］ wait for some time before disposing of their stock［D］ give trust to a particular company’s stock
3 Damian is the finance director of Linden Limited, a medium sized, unquoted, UK trading company, with a 31 Julyyear end. Damian personally owns 10% of the ordinary issued share capital of Linden Limited, for which he paid￡10,000 in June 1998. He estimates that the current market value of Linden Limited is ￡9 million and that thecompany will make taxable profits of ￡1·4 million in the forthcoming year to 31 July 2007.(a) Damian believes that Linden Limited should conduct its activities in a socially responsible manner and to thisend has proposed that in future all cars purchased by the company should be low emission vehicles. The salesdirector has stated that several of his staff, who are the main recipients of company cars, other than the directors,are extremely unhappy with this proposal, perceiving it as downgrading their value and status.The cars currently provided to the sales staff have a list price of ￡19,600, on which Linden Limited receives abulk purchase discount of 6% from the dealer, and a CO2 emission rate of 168 grams/kilometre. The companypays for up to ￡400 of accessories, of the salesmen’s own choice to be fitted to the cars and all of the runningcosts, including private petrol. The cars are replaced every three years and the ‘old’ cars are sold at auction,because they are high mileage vehicles.The low emission cars it is proposed to purchase will have the same list price as the current cars, but the dealeris only prepared to offer a bulk discount of 5% on these vehicles. Damian does not propose to make any otherchanges to Linden Limited’s company car policy or practice.Required:(i) Explain the tax consequences of the proposed move to low emission vehicles for both the individualsalesmen and Linden Limited, illustrating your answer by means of relevant calculations of the tax andnational insurance (NIC) savings arising. (9 marks)
－You mean... like becoming a publicly－traded company? －That's right. ______________ .A It's something we should give serious consideration to ;B It will still be a privately held company ;C It will become a privately held company
听力原文：If a U.S. company wants to purchase goods in Britain and the transaction is settled in sterling pounds, it has to exchange dollars for pounds first.(9)A．The U.S. company has to exchange dollars for pounds to make settlement for the goods imported from U.K.B．The U.S. company must exchange some pounds for dollars before the transaction is made.C．The U.S. company may directly purchase goods in Britain in sterling pounds.D．The U.S. company must exchange dollars for euros first.
The advantage(s) of using wire rope lashing on vehicles aboard Ro-Ro vessels is that it__.A.is lighter than chainB.has a good working lifeC.is not affected by temperatureD.All of the above
