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（请给出正确答案）
A.Viscosity
B.Sulfur content
C.Pour point
D.Cetane number
答案
D、Cetane number
更多“Which of the listed factors will indicate the most the ability of a fuel to ignite in a diesel engin…”相关的问题
第1题
A.Sludge
B.Diesel fuel
C.Lube oil
D.Gasoline
第2题
A.They should always be started with the discharge valve closed
B.They should always be started with the discharge valve opened
C.A priming pump is always required to flood the impeller suction
D.They should always be started with the sealing line valves closed
第3题
The following scenario relates to questions 11 to 15.
The following information relates to an investment project which is being evaluated by the directors of Fence Co, a listed company. The initial investment, payable at the start of the first year of operation, is $3·9 million.
The directors believe that this investment project will increase shareholder wealth if it achieves a return on capital employed greater than 15%. As a matter of policy, the directors require all investment projects to be evaluated using both the payback and return on capital employed methods. Shareholders have recently criticised the directors for using these investment appraisal methods, claiming that Fence Co ought to be using the academically-preferred net present value method.
The directors have a remuneration package which includes a financial reward for achieving an annual return on capital employed greater than 15%. The remuneration package does not include a share option scheme.
What is the payback period of the investment project？
A.2·75 years
B.1·50 years
C.2·65 years
D.1·55 years
Which of the following statements about investment appraisal methods is correct？A.The return on capital employed method considers the time value of money
B.Return on capital employed must be greater than the cost of equity if a project is to be accepted
C.Riskier projects should be evaluated with longer payback periods
D.Payback period ignores the timing of cash flows within the payback period
Which of the following statements about Fence Co is/are correct？
(1) Managerial reward schemes of listed companies should encourage the achievement of stakeholder objectives
(2) Requiring investment projects to be evaluated with return on capital employed is an example of dysfunctional behaviour encouraged by performance-related pay
(3) Fence Co has an agency problem as the directors are not acting to maximise the wealth of shareholders
A.1 and 2 only
B.1 only
C.2 and 3 only
D.1, 2 and 3
Which of the following statements about Fence Co directors’ remuneration package is/are correct？
(1) Directors’ remuneration should be determined by senior executive directors
(2) Introducing a share option scheme would help bring directors’ objectives in line with shareholders’ objectives
(3) Linking financial rewards to a target return on capital employed will encourage short-term profitability and discourage capital investment
A.2 only
B.1 and 3 only
C.2 and 3 only
D.1, 2 and 3
Based on the average investment method, what is the return on capital employed of the investment project？
A.13·3%
B.26·0%
C.52·0%
D.73·5%
请帮忙给出每个问题的正确答案和分析，谢谢！
第4题
Bethan Oak was the audit engagement partner for Willow and as she had completed seven years as the audit engagement partner, she has recently been rotated off the audit engagement. The current audit partner, Sandeep Pine, has suggested that in order to maintain a close relationship with Willow, Bethan should undertake the role of independent review partner this year. In addition Willow has requested that Bethan assist them by attending their audit committee meetings, as a non-executive director has recently left the company.
Willow has also asked Sandeep and the other partners at Beech & Co to help them in recruiting a new non-executive director.
The total fees received by Beech & Co for last year equated to 16% of the firm’s total fee income. The current year’s audit fee has not yet been confirmed, but along with taxation and other possible non-audit fees the total income from Willow this year could be greater than for last year. Last year’s audit fee was being paid monthly by Willow but no payments have been made for the last three months.
The audit manager for Willow has just announced that he is leaving Beech & Co to join Willow as the financial controller.
Required:
Using the information above:
(i) Identify and explain FIVE ethical threats which may affect the independence of Beech & Co’s audit of Willow Wands Co; and
(ii) For each threat explain how it might be reduced to an acceptable level.
Note: The total marks will be split equally between each part.
第5题
Telephone books in the United States have white, blue and yellow pages. The white pages list people with phones by last name, the blue pages contain numbers of city services, government agencies and public schools. Businesses and professional (专业的) services are listed in a special section, the yellow pages. To make a long-distance call, you need an area code. Each area in the U. S. has an area code. The area covered by one area code may be small or large. For example, New York City has one area code, but so does the whole state of Oregon. If you want to know the area code of a place, you can look it up in the area code map, which is printed in the front of the white pages.
There are a lot of publlic telephones in the US. They have their own numbers. If you are making a long-distance call on a pubic telephone and run out of money, give the number on you phone to the person you are talking to, then hang up the receiver, and he can call you back. If you make a long-distance call and get a wrong number, call the operator and explain what happened. This means that you can make the call again to the right number without having to pay more money.
Where can you find the telephone number of a city council (市议会) in the telephone book？
A．In the blue pages.
B．In the white pages.
C．In the yellow pages.
D．In a special section.
第6题
Furthermore, corporate powers push workers to take on bigger workloads, work longer hours, and accept less benefits by instilling a paranoia in their workforce. The capitalist bosses assume dishonesty, disloyalty, and laziness amongst workers, and they breed a sense of guilt and fear through their assumptions. Where guilt doesn't seep in, bitterness, anger, and depression take over, the highest priorities of Big Business are to increase profits and limit liabilities. Personal relations and human needs are last on their list of priorities. So what we see is a huge mass of people who are alienated, disempowered, overworked, mentally and physically ill and who spend the vast majority of their time and energy on their basic survival. They are denied a chance to really "love", because they are forced to make profits for the capitalists in power.
Which of the following can NOT be listed as a reason for corporations' hiring temporary workers and phasing out full-time employees？
A．Corporations intend to leave more workload to temporary workers.
B．Temp workers are generally well-trained and can achieve high efficiency.
C．Corporations can reduce their production cost by employing temp workers.
D．Corporations can benefit a great deal from keeping a small full-time work force.
第7题
AggroChem is a fully listed company fi nanced wholly by equity. LeverChem is listed on an alternative investment market. Both companies have been trading for over 10 years and have shown strong levels of profi tability recently. However, both companies’ shares are thinly traded. It is thought that the current market value of LeverChem’s shares at
higher than the book value is accurate, but it is felt that AggroChem shares are not quoted accurately by the market.
The following information is taken from the fi nancial statements of both companies at the start of the current year:
It can be assumed that the retained earnings for both companies are equal to the net reinvestment in assets.
The assets of both companies are stated at fair value. Discussions with the AtReast Bank have led to an agreement that the fl oating rate loan to LeverChem can be transferred to the combined business on the same terms. The current yield rate is 5% and the current equity risk premium is 6%. It can be assumed that the risk free rate of return is equivalent to the yield rate. AggroChem’s beta has been estimated to be 1·26.
AggroChem Co wants to use the Black-Scholes option pricing (BSOP) model to assess the value of the combined business and the maximum premium payable to LeverChem’s shareholders. AggroChem has conducted a review of the volatility of the NOPAT values of both companies since both were formed and has estimated that the volatility of the combined business assets, if the acquisition were to go ahead, would be 35%. The exercise price should be calculated as the present value of a discount (zero-coupon) bond with an identical yield and term to maturity of the current bond.
Required:
Prepare a report for the management of AggroChem on the valuation of the combined business following acquisition and the maximum premium payable to the shareholders of LeverChem. Your report should:
(i) Using the free cash fl ow model, estimate the market value of equity for AggroChem Co, explaining any assumptions made. (9 marks)
(ii) Explain the circumstances in which the Black-Scholes option pricing (BSOP) model could be used to assess the value of a company, including the data required for the variables used in the model. (5 marks)
(iii) Using the BSOP methodology, estimate the maximum price and premium AggroChem may pay for LeverChem. (9 marks)
(iv) Discuss the appropriateness of the method used in part (iii) above, by considering whether the BSOP model can provide a meaningful value for a company. (5 marks)
Professional marks will be awarded in question 2 for the clarity and presentation of the report. (4 marks)
第8题
The writer has listed why cloning is not feasible to be ___on humans.
A.amended
B.adopted
C.adjusted
D.adapted
第9题
The following scenario relates to questions 6–10
You are an audit manager at Blenkin & Co and are approaching the end of the audit of Sampson Co, which is a large listed retailer. The draft financial statements currently show a profit before tax of $6·5m and revenue of $66m for the financial year ended 30 June 20X6. You have been informed that the finance director left Sampson Co on 31 May 20X6.
As part of the subsequent events audit procedures, you reviewed post year-end board meeting minutes and discovered that a legal case for unfair dismissal has been brought against Sampson Co by the finance director. During a discussion with the Human Resources (HR) director of Sampson Co, you established that the company received notice of the proposed legal claim on 10 July 20X6.
The HR director told you that Sampson Co’s lawyers believe that the finance director’s claim is likely to be successful, but estimate that $150,000 is the maximum amount of compensation which would be paid. However, management does not intend to make any adjustments or disclosures in the financial statements.
Blenkin & Co has a responsibility to perform. procedures to obtain sufficient, appropriate evidence that subsequent events are appropriately reflected in the financial statements of Sampson Co.
Subsequent events procedures should be performed between the date of the financial statements and WHICH DATE？
A.The date the subsequent events review is performed
B.The date of approval of the financial statements
C.The date of the auditor’s report
D.The date the financial statements are issued
If, after the financial statements have been issued, Blenkin & Co becomes aware of a fact which may have caused its report to be amended, the firm should consider several possible actions.
Which of the following are appropriate actions for Blenkin & Co to take？
(1) Discuss the matter with management and, where appropriate, those charged with governance
(2) Obtain a written representation from management
(3) Consider whether the firm should resign from the engagement
(4) Enquire how management intends to address the matter in the financial statements where appropriate
A.1 and 2
B.1 and 4
C.2 and 3
D.3 and 4
Which of the following audit procedures should be performed to form. a conclusion as to whether the financial statements require amendment in relation to the unfair dismissal claim？
(1) Inspect relevant correspondence with Sampson Co’s lawyers
(2) Write to the finance director to confirm the claim and level of damages
(3) Review the post year-end cash book for evidence of payments to the finance director
(4) Request that management confirm their views in a written representation
A.1, 2 and 3
B.1, 2 and 4
C.1, 3 and 4
D.2, 3 and 4
You are drafting the auditor’s report for Sampson Co and the audit engagement partner has reminded you that the report will need to reflect the requirements of ISA 701 Communicating Key Audit Matters in the Independent Auditor’s Report.
According to ISA 701, which of the following should be included in the ‘Key Audit Matters’ paragraph in the auditor’s report？
A.Matters which required significant auditor attention
B.Matters which result in a modification to the audit opinion
C.All matters which were communicated to those charged with governance
D.All matters which are considered to be material to the financial statements
Which of the following audit opinions will be issued if the unfair dismissal case is NOT adjusted for or disclosed within the financial statements？
A.A qualified audit opinion as the financial statements are materially misstated
B.A qualified audit opinion as the auditor is unable to obtain sufficient appropriate evidence
C.An unmodified opinion with an emphasis of matter paragraph
D.An unmodified audit opinion
请帮忙给出每个问题的正确答案和分析，谢谢！
第10题
To remain fully compliant with the Effland corporate governance code, the board established audit, remuneration and nomination committees which were solely populated by independent non-executive directors. However, it did not consider it necessary to create a separate risk committee because the board believed that the remit of the audit committee included all aspects of risk management policy. This explanation was formally submitted to the shareholders at its first general meeting, who agreed with the board’s proposal.
As part of its expansion strategy, the board of Branscombe Co decided it needed to enter overseas markets, and in particular the developing country of Geeland. The reason that Geeland was selected as a suitable market was because it had experienced rapid economic growth and domestic prosperity following the discovery of rich, offshore mineral deposits. Unfortunately, this small island nation has never enjoyed stable democratic government and is notorious for corrupt business practices, with customs officials regularly demanding bribes from both importers and exporters. As a result, Geeland has a poor international credit rating. In order to attract both domestic and foreign inward investment, the government of Geeland operates with very low levels of indirect tax, which has stimulated the island’s tourist industry and led in turn to a significant increase in hotel building.
Following a successful tendering exercise, Branscombe Co was awarded the contract to supply all of the bathroom equipment for a 200-room hotel, currently under construction in a remote area of the island. The total value of the supply contract amounted to Geeland $1,800,000, and it was to be paid in three equal instalments as the bathrooms were delivered to the hotel. The contract assigns responsibility for shipping the goods the 3,000 km from Effland to the island solely with Branscombe Co, and no payment will be made until an agreed volume of goods clears Geeland customs. A further problem is that the Geeland dollar is quite volatile, but recently it has been strengthening against the Effland dollar. As all contract payments are to be made in Geeland currency, Branscombe Co is exposed to foreign exchange risks.
The many contract-related issues amount to significant risks to Branscombe Co requiring effective management if the supply contract is to be a success and contribute to the company’s ambitious growth targets.
Required:
(a) Explain the function and roles of a risk committee within an effective corporate governance framework, and discuss the advantages which a risk committee could add to the governance of Branscombe Co. (10 marks)
(b) Explain the term risk appetite, and assess how the risk appetite of Branscombe Co has influenced both its corporate strategy and the risks it has chosen to bear. (7 marks)
(c) Explain how Branscombe Co could effectively control the strategic and operational risks which arise from the Geeland supply contract. (8 marks)
