题目内容
（请给出正确答案）
[单选题]
Which of the listed contaminants will be satisfactorily removed from fuel oil by centrifuging（）
A.Sludge
B.Diesel fuel
C.Lube oil
D.Gasoline
答案
A、Sludge
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题目内容
（请给出正确答案）
A.Sludge
B.Diesel fuel
C.Lube oil
D.Gasoline
答案
A、Sludge
更多“Which of the listed contaminants will be satisfactorily removed from fuel oil by centrifuging（）”相关的问题
第1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2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3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4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5题
The writer has listed why cloning is not feasible to be ___on humans.
A.amended
B.adopted
C.adjusted
D.adapted
第6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8题
A.abusing
B.rewarding
C.disrupting
D.enriching
第9题
阅读下列短文，并根据短文内容判断其后的句子是正确(T)还是错误(F)。
Meetings are very common nowadays. They can be weekly, monthly or annually. Some people think most meetings feel like a waste of time. They seem pointless and boring at times.
Then how do you run an effective meeting？
First, assign roles, such as greeter, timekeeper and note taker, so that you, the organizer, can be free to lead discussions and presentations.
Next, take charge from the start. Everyone will listen to you and join your discussion if you take charge in every aspect of the meeting. Show everyone that you really know what you are talking about, and everything that you talk about is useful.
Most important of all, follow the agenda. At the end of the meeting, spend a little extra time for the participants to discuss anything that needs to be immediately discussed but which may not have been on the agenda.
Always ask the participants questions to speak their minds and keep them interested. Remember that a good meeting is a two way communication. Be open to everyone's opinion, ideas, and suggestions. Don't forget to thank them for the ideas they present.
And finally, close the meeting with everyone knowing what is expected of them and what they should do for the following weeks. Then, send out meeting minutes within a few days, while everyone still remembers the points.
()21. A successful meeting should have different people to play different roles.
()22. Generally people only discuss the items listed on the agenda in a successful meeting.
()23. An unsuccessful meeting might be full of single-way communication.
()24. When the meeting is closed, it means there is nothing to do in the following weeks.
()25. Minutes should be sent out to the participants within a month after the end of the meeting.
第10题
The conditions we live in are different from those of any prior civilization, and they give less support to men's claims of superiority than perhaps any other historical era. When these conditions weaken that support, men can rely only on previous tradition, or their attempts to socialize their children, to shore up their faltering advantages. Such rhetoric is not likely to be successful against the new objective conditions and the claims of aggrieved women. Thus, men are correct when they feel they are losing some of their privileges, even if many continue to laugh at the women's liberation movement.
The new conditions can be listed concretely, but I shall also give you a theoretical formulation of the process. Concretely, because of the increased use of various mechanical gadgets and devices, fewer tasks require much strength. As to those that still require strength, most men cannot do them either. Women can now do more household tasks that men once felt only they could do, and still more tasks are done by repair specialists called in to do them. With the development of modern warfare, there are few, if any, important combat activities that only men can do. Women are much better educated than before.
With each passing year, psychological and sociological research reduces the areas in which men are reported to excel over women and discloses far more overlap in talents, so that even when males still seem to have an advantage, it is but a slight one. It is also becoming more widely understood that the posts in government and business are not best filled by the stereotypical aggressive male but by people, male or female, who are sensitive to others' needs, adept in obtaining cooperation, and skilled in social relations. Finally, in one sphere after another, the number of women who try. to achieve rises, and so does the number who succeed.
It can be inferred that' the main source of men's resistance to women's liberation is the feeling that ______.
A．women are now better educated
B．women can now hold executive positions
C．men are no longer indispensable
D．men are no longer superior
