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1、商务专业英语试卷及答案(1)I True or False Questions. (1 point each, 25 points total)1. Organization can be categorized by activity, namely, based on turnover, assets, number ofemployees.2. The aim of organizations is to generate outputs which have a greater value than the laborused up.F3. Objectives must be qua
2、ntifiable and specific.4. Crisis management describes how the managers prepare for and react to a sudden change.5. Sole trader is an individual who owns the business.6. Worker co-operative set up to benefit consumers.7. Public sector organizations are owned or directed by the Government.8. Theory Y
3、managers seem to believe that employees are lazy, do not want to work, have tobe controlled and monitored.9. Private limited companies must state the extent to which they comply with the CadburyCodes of Best Practice in their annual report.10. The issued share capital can not be greater than the aut
4、horizedIL B is an associate company of A if A has between 20 and 50% of the shares of B.12. A franchisor buys the right to use/sell a procluct or service to a franchisee in return forafixed fee and /or percentage of the turnover13. Merger occurs when two or more firms join together, it might be thro
5、ugh a merger oratake-over.14. Synergy is the idea that when two companies Join together, overall performance will beworse than the sum of the two Anns individually.15. Microenvironment are factors bevond the immediate environment of the firm.16. Niche market is a small part of the market which major
6、 producers are concerned with.17. Stages of the product life cycle include development, introduction, growth, maturity anddecline.18. Market penetration attempts to gain a greater share of a new market.19. Focus of pull strategy is on consumers, by appealing to consumers directly.20. The less the va
7、lue of the advertising elasticity, the greater the relationship between advertising and demand.F21. Accounts provide numerate information to help decision making.22. Day to clay finance of the organlzation=current assets + current liabilities23. GDP shows how much has been earned within a country.24
8、. The Multiplier is based on the idea that one persons spending is anothers income.25. Contribution=revenue - variable costs TII Answer the Following Questions (5 points each, 30 points total)26. What are the main elements of business plan?27. What is a merger? And why merge?28. What are the reasons
9、 for becoming multinational?29. How do small firms survive?30. How to improve cashflow?31. Use a diagram to illustrate Break Even Output and Margin of Safety.HI Calculations (8 points for 32nd, 16 points for the 33，24 points total)32. Methods of investment appraisalPlease calculate Payback and ARR a
10、ccording to the following table.Note: Paybacks this is the length of time it takes for the firm to recoup its initial investment.Average rate of return (ARR) : this is the average profit per year as a percentage of the initial investment.33.Ratioscompares figureanotherinandrelativeYe Discount Calcul
11、 Presentar factors ation value0 (201.000 (200)x(200)0)1.0001500.90950x0.945.45092500.82650x0.841.302631000.751100x0.75.10Ratios analysis one with to place it context assess its7514 1600.683 160x0.109.28683importance. It helps analyse data and aids decision inaking Please calculate Asset Turnovery Pr
12、ofit Marginy Acid Test and Gearing according to the following accounts.Balance sneer As at 17tK June 2008Fixed assets Current assets Stocks Debtors Cash Less fment liabilities06407 2oyed (or assets )Issued share capital oj 1 shares ReservesLong term liabilitiesCapital employedooo7 2 400 300 1(JU 80
13、2Xf0 2XT105rroiit and lossfor the year ending 17th June 2008Turnover (or sales) Cost of sales Gross profit Expenses Operating profit NonoperatingincomeProfit before interest and taxInterest payable TaxProfit attributable to ordinary shareholders Dividends Retained profitAnswers:to.f.f).f.t5.10152025
14、I True or False Questionsl.T6.T ll.T16.F21.T09.T14.F19.Tgr r FT.F 2.T7.T12.17.2233.II Questions26. To employers: channel of communication; can highlight human resource implications of any action; provide ideas/information.To employees: provide power; provide advice; provide services; provide protect
15、ion.27. Factors a firm can control, but which restrict its ability to achieve its objectives. Including finance? marketing, human resources and production.28. Reasons for becoming multinational: to make use of resources abroad; to be closer to markets; to avoid legislation in their own country which
16、 may prevent firms getting too big; to gain tax advantages or grants from overseas governments; weakens of domestic unions by spreading bases around the world.29. Advantages: Minimizes stock holding costs; Money not tied up; Focuses effort on quality as flnished goods sent to customer immediately no
17、t left in stock.30. Types of budget:Sales budget: sets sales estimates for each product in terms of number of units.Production budget: sets output targets.Cash budget: cash flow forecast.income,31.Master budget: summaries estimated expenditure, and profit.3。+lotalleveB您1吃Xlul aer txA olvA地感脚J#CQS$ o
18、HI Calculations32.如tpPayback = 3 years( 50 in year 1 + 50 in year 2 + 100 in year 3) 200 initial outflowARR = 20%Total inflows = 50+50+100+160 = 360Initial cost = 200Overall return = net inflows - initial cost = 360- 200= 160Average return per year = overall return + number of years = 160/4 = 40 per
19、 yearAverage Rate of Return(%) = (average return per year + initial cost) X 100 = (404-200) X 100 = 20%(%)= (profit before interest and tax 4- sales) x 100 = (20v400) xl00 = 5%Acid Test (number of times) = Current asset without stocks -r current liabilities = 10+ 10 = 1Gearing (%)= (long term liabilities + capital employed) x 100 = (50+ 200) xlOO = 25%Stock Turnover (number of times)=cost of sale + stock = 300+ 10 = 30