题目内容
（请给出正确答案）
At the end of the conversation, the speakers talk about
A. when changes will come.
B. the type of office furniture.
C. the future of the internet.
D. how people will use the internet.
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更多“At the end of the conversation…”相关的问题
Why does the author mention dinosaurs at the end of the passage？
[ A] Because they could only live in the warm climate.
[ B ] Because they once dominated the earth.
[ C ] Because their extinction indicates future disasters.
[ D] Because dinosaurs and humans never live in the same age.
What is the provision which Kalatra Co would report in its statement of financial position as at 30 September 20X5 in respect of its oil operations？
A、$32,400,000
B、$22,032,000
C、$20,400,000
D、$1,632,000
The following scenario relates to questions 1–5
You are an audit senior of Viola & Co and are currently conducting the audit of Poppy Co for the year ended 30 June 20X6.
Materiality has been set at $50,000, and you are carrying out the detailed substantive testing on the year-end payables balance. The audit manager has emphasised that understatement of the trade payables balance is a significant audit risk.
Below is an extract from the list of supplier statements as at 30 June 20X6 held by the company and corresponding payables ledger balances at the same date along with some commentary on the noted differences:
Carnation Co
The difference in the balance is due to an invoice which is under dispute due to faulty goods which were returned on 29 June 20X6.
Lily Co
The difference in the balance is due to the supplier statement showing an invoice dated 28 June 20X6 for $70,000 which was not recorded in the financial statements until after the year end. The payables clerk has advised the audit team that the invoice was not received until 2 July 20X6.
The audit manager has asked you to review the full list of trade payables and select balances on which supplier statement reconciliations will be performed.
Which of the following items should you select for testing？
(1) Suppliers with material balances at the year end
(2) Suppliers which have a high volume of business with Poppy Co
(3) Major suppliers with nil balances at the year end
(4) Major suppliers where the statement agrees to the ledger
A.1 only
B.1, 2 and 3 only
C.2 and 4 only
D.1, 2, 3 and 4
Which of the following audit procedures should be performed in relation to the balance with Lily Co to determine if the payables balance is understated？
A.Inspect the goods received note to determine when the goods were received
B.Inspect the purchase order to confirm it is dated before the year end
C.Review the post year-end cashbook for evidence of payment of the invoice
D.Send a confirmation request to Lily Co to confirm the outstanding balance
Which of the following audit procedures should be carried out to confirm the balance owing to Carnation Co？
(1) Review post year-end credit notes for evidence of acceptance of return
(2) Inspect pre year-end goods returned note in respect of the items sent back to the supplier
(3) Inspect post year-end cash book for evidence that the amount has been settled
A.1, 2 and 3
B.1 and 3 only
C.1 and 2 only
D.2 and 3 only
The audit manager has asked you to review the results of some statistical sampling testing, which resulted in 20% of the payables balance being tested.
The testing results indicate that there is a $45,000 error in the sample: $20,000 which is due to invoices not being recorded in the correct period as a result of weak controls and additionally there is a one-off error of $25,000 which was made by a temporary clerk.
What would be an appropriate course of action on the basis of these results？
A.The error is immaterial and therefore no further work is required
B.The effect of the control error should be projected across the whole population
C.Poppy Co should be asked to adjust the payables figure by $45,000
D.A different sample should be selected as these results are not reflective of the population
To help improve audit efficiency, Viola & Co is considering introducing the use of computer assisted audit techniques (CAATs) for some audits. You have been asked to consider how CAATs could be used during the audit of Poppy Co.
Which of the following is an example of using test data for trade payables testing？
A.Selecting a sample of supplier balances for testing using monetary unit sampling
B.Recalculating the ageing of trade payables to identify balances which may be in dispute
C.Calculation of trade payables days to use in analytical procedures
D.Inputting dummy purchase invoices into the client system to see if processed correctly
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The finance director of GXJ Co would like to hedge the interest rate risk arising from the future loan and the company’s bank has offered a 3–9, 4·5%–3·5% forward rate agreement.
The finance director is also concerned about the foreign currency risk associated with the euro interest payment which would be due in nine months’ time.
The following exchange rates are available:
Required:
(a) Evaluate the proposed forward rate agreement as a way of managing the interest rate risk anticipated by GXJ Co. (3 marks)
(b) Analyse the foreign currency risk associated with the future interest payment of GXJ Co and briefly discuss ways that this risk might be hedged. (4 marks)
(c) Explain the nature of four-way equivalence in the relationship between spot exchange rates, forward exchange rates and future (expected) spot rates. (3 marks)
Hummingbird Scents Co (Hummingbird) manufactures and sells luxury toiletries; they have been trading for over 20 years and the company’s year end is 30 September 2014. Hummingbird sells products to trade customers via its own website; this represents 60% of revenue. Remaining revenue is generated by contracts to supply toiletries to hotels. Below is a description of the sales system.
Hotel revenue
The hotel revenue is made up of four key customers. Hummingbird has one sales clerk, Brenda, who maintains all aspects of this revenue stream; Brenda receives customer orders, raises sales invoices and processes payments. In raising invoices, the sales system automatically inserts the online trade customer prices for products. However, each hotel customer has contracted prices which are lower than the online prices and hence Brenda manually edits the invoices prior to despatch.
Online revenue
New trade customers are set up in the sales ledger master file upon passing suitable credit checks, and a credit limit is set at this stage by the finance director. Customers place online orders up to their pre-set credit limit; they receive an email confirmation and the sales order interfaces into the despatch system. The order number is linked to the customer account number. Goods are despatched daily with a goods despatched note which is referenced to the sales order number but are not sequentially numbered. Hummingbird used to despatch goods via a reliable national courier company. However, to reduce costs they have changed to a cheaper local courier and some orders have been delivered to customers late.
Trade customers’ sales invoices are automatically generated by the system on the day the online order is placed. The prices are inserted in accordance with the website rates. Occasionally Hummingbird makes special offers or discounts sales; when this occurs the master file data has to be amended to ensure that the correct prices are used on invoices. This task is usually performed by a senior sales ledger clerk.
Revenue and receivables records
On a monthly basis statements are sent to the hotel customers; a number of trade customers have been requesting monthly statements and Hummingbird is considering this request. The company only reconciles the sales ledger control account at the end of September in order to verify the year-end balance.
Required:
(a) As the external auditor of Hummingbird Co, write a report to management in respect of the sales system described above which:
(i) Identifies and explains SEVEN deficiencies in the sales system; and
(ii) Provides a recommendation to address each of these deficiencies.
A covering letter IS required.
Note: Up to two marks will be awarded within this requirement for presentation and the remaining marks will be split equally between each part. (16 marks)
(b) Describe substantive procedures the auditor should perform. to confirm Hummingbird Co’s revenue. (4 marks)
What did Comp Co do today？
A．It hired new employees.
B．It gave a training workshop.
C．It negotiated a deal.
D．It had a celebration.
The count will be undertaken by 15 teams of two counters from the warehouse department with Quartz’s financial controller providing overall supervision. Each team of two is allocated a number of bays within the warehouse to count and they are provided with sequentially numbered inventory sheets which contain product codes and quantities extracted from the inventory records. The counters move through each allocated bay counting the inventory and confirming that it agrees with the inventory sheets. Where a discrepancy is found, they note this on the sheet.
The warehouse is large and approximately 10% of the bays have been rented out to third parties with similar operations; these are scattered throughout the warehouse. For completeness, the counters have been asked to count the inventory for all bays noting the third party inventories on separate blank inventory sheets, and the finance department will make any necessary adjustments.
Some of Quartz’s finished goods are high in value and are stored in a locked area of the warehouse and all the counting teams will be given the code to access this area. There will be no despatches of inventory during the count and it is not anticipated that there will be any deliveries from suppliers.
Each area is counted once by the allocated team; the sheets are completed in ink, signed by the team and returned after each bay is counted. As no two teams are allocated the same bays, there will be no need to flag that an area has been counted. On completion of the count, the financial controller will confirm with each team that they have returned their inventory sheets.
Required:
(a) In respect of the inventory count procedures for Lemon Quartz Co:
(i) Identify and explain FIVE deficiencies;
(ii) Recommend a control to address each of these deficiencies; and
(iii) Describe a TEST OF CONTROL the external auditors would perform. to assess if each of these controls, if implemented, is operating effectively.
Note: The total marks will be split equally between each part. (15 marks)
(b) Quartz’s finance director has asked your firm to undertake a non-audit assurance engagement later in the year. The audit junior has not been involved in such an assignment before and has asked you to explain what an assurance engagement involves.
Required:
Explain the five elements of an assurance engagement. (5 marks)
Production and sales from the new machine are expected to be 100,000 units per year. Each unit can be sold for $16 per unit and will incur variable costs of $11 per unit. Incremental fixed costs arising from the operation of the machine will be $160,000 per year.
Warden Co has an after-tax cost of capital of 11% which it uses as a discount rate in investment appraisal. The company pays profit tax one year in arrears at an annual rate of 30% per year. Capital allowances and inflation should be ignored.
Required:
(a) Calculate the net present value of investing in the new machine and advise whether the investment is financially acceptable. (7 marks)
(b) Calculate the internal rate of return of investing in the new machine and advise whether the investment is financially acceptable. (4 marks)
(c) (i) Explain briefly the meaning of the term ‘sensitivity analysis’ in the context of investment appraisal; (1 mark) (ii) Calculate the sensitivity of the investment in the new machine to a change in selling price and to a change in discount rate, and comment on your findings. (6 marks)
(d) Discuss the nature and causes of the problem of capital rationing in the context of investment appraisal, and explain how this problem can be overcome in reaching the optimal investment decision for a company. (7 marks)
听力原文： When Mr. French retired, he bought a small cottage at the seaside village. The cottage was built in the late 16th century, but it was in a very good condition. Mr. French Was looking forward to a quiet life. But in the summer holidays he got a shock. Hundreds of tourists came to the seaside village. Mr. French's cottage was the most interesting building in the village and many of the tourists came to see it. From morning till night there were tourists outside the cottage. They kept looking through the windows and many of them even went into Mr. French's garden. This was too much for Mr. French; he decided to drive the unwelcome visitors away, so he put up a notice in the window. The notice said: "If you want to satisfy your curiosity, come in and look around, price 5 pounds." Mr. French was sure that the visitors would stop coming, but he was wrong. The number of visitors increased, and Mr. French spend every day showing them around his cottage. "I come here to retire, not to work as a guide," he complained. In the end, he sold the cottage and bought a small modern house. It was not an interesting little place and no one wants to see it, but it is certainly quiet and peaceful.
(36)
A．In the 15th century.
B．In the 16th century.
C．In the 5th century.
D．In the 6th century.
听力原文： BAIDU. COM Inc has stopped providing free music download links on its Website as a compromise to music publishers, which sued the biggest Chinese online search engine firm over the issue.
Instead, a wanting message has appeared on the Beijing-based company's Website before users start to download music or songs through Baidu's MP3 search service. "The search result (of songs) has been made automatically and Baidu itself doesn't make and transfer music, "the message said. "We pay close attention to protecting intellectual property rights. If any authors or copyright owners find the links are pirated songs, please let us know."
Before that, Baidu's users could download songs directly on its MP3 search result lists.
The share price of Baidu, which went public in August, surged more than fourfold in its first trading day on Nasdaq.
More titan one-third of Baidu's online traffic came from its MP3 search service,according to the company's file.
The Warner Music Group Corp, EMI Group and other music companies filed lawsuits against Baidu in the Beijing People's Intermediate Court, seeking to stop it from offering the service. Several days later, Sony BMG Music Entertainment, became the last member. At the end of October, that is, just less than a half month after the lawsuits, Baidu was forced to make that compromise.
In August, Shanghai Busheng Music Culture Media Co accused Baidu of allowing unauthorized downloads of 53 songs the company owns the copyright to without permission. Busheng is asking Baidu for 560,000 yuan (US $69,104) in compensation for damages.
(30)
A．Compensating music publishers.
B．A warning message appears on BAIDU website.
C．Compromising to music publishers.
D．Supplying music links to music publishers' download linkages.
They claim they want to dress as they please. But they all wear the same clothes. They set off in new directions in music. But somehow they all end up huddled round listening to the same record. Their son for thinking or acting in thus and such a way is that the crowd is doing it. They have come out of their co coon—into a larger cocoon.
It has become harder and harder for a teenager to stand up against the popularity wave and to go his or her own way. Industry has firmly carved out a teenage market. These days every teenager can learn from the advertisements what a teenager should have and be. And many of today's parents have come to award high marks for the popularity of their children. All this adds up to a great barrier for the teenager who wants to find his or her own path.
But the barrier is worth climbing over. The path is worth following. You may want to listen to classical music instead of going to a party. You may want to collect rocks when everyone else is collecting re cords. You may have some thoughts that you don't care to share at once with your classmates. Well, go to it. Find yourself. Be yourself. Popularity will come with the people who respect you for who you are. That's the only kind of popularity that really counts.
The author's purpose in writing this passage is to tell ______.
A．readers how to be popular with people around
B．teenagers how to learn to decide things for themselves
C．parents how to control and guide their children
D．people how to understand and respect each other
