金融英语证书考试（FECT）Exercises-2（2）

会计考友

　　21.The following statements describing net income are all correct except that ______。
　　A.net income is computed in the income statement， appears in the statement of owner's equity， and increases owner's equity in the balance sheet
, g1 g& O" X( F8 {- V4 v& j) }  w　　B.net income is equal to revenues minus expenses
3 I! |  C8 e& \, U. f　　C.net income is computed in the income statement， appears in the statement of owner's equity， and increases the amount of cash shown in the balance sheet
5 r0 A% _- ~5 v# Z) q+ i　　D.net income can be determined using the account balances appearing in an adjusted trial balance
　　22.A strong dollar encourages ______。
; J: ]7 z8 N: x, Q% @　　A.travel to the United States by foreigners
9 v/ z( k8 `% H1 W/ D0 K3 @　　B.purchase of American goods by foreigners
　　C.Americans to travel abroad
5 U' |  \5 ]7 n% s7 ~　　D.Americans to save dollars
: \+ x$ ?7 X! G' j　　23.In what circumstances would the beneficiary of a confirmed documentary credit not receive payment？ ______。
　　A.Failure of the applicant
' }: q' m- z5 a/ Z  d  w6 R　　B.Failure of the issuing bank
2 d& ~! j- w0 j; y# x% G6 |2 W　　C.Failure to fulfil the credit terms
　　D.Failure to fulfil the commercial contract
1 k! Y( V, ^3 q+ a( |' R$ B　　24.The balance in the owner's capital account of ABC Co.Ltd.at the beginning of the year was $65 000.During the year， the company earned revenue of $430 000 and incurred expenses of $360 000， the owner withdrew $50 000 in assets， and the balance of the Cash account increased by $10 000.At year-end， the company's net income and the year-end balance in the owner's capital account were， respectively　。
. c; T' {7 o8 Z9 ?7 T3 w$ y+ L3 l　　A.$20 000 and $95 000
' Q; z. a% E* w3 z　　B.$70 000 and $95 000 C.$70 000 and $85 000
4 J% `7 |) ^0 }9 I7 \0 a　　D.$60 000 and $75 000
5 ~0 a) M7 P) ]0 I& S7 r　　25.Assume the inflation rate is expected to be 5 percent and the unemployment rate is 8 percent.If workers wish to get a 2 percent real wage increase， they should bargain for a money wage increase of______。
　　A.3 percent
" l/ U( ?3 O2 _" O2 X: N　　B.5 percent
0 j7 T8 c, T, d" \7 D" C/ v　　C.7 percent
2 g9 R, r9 e" N) q　　D.13 percent
　　26.Which statement about portfolio diversification is correct？　。
: s: a9 X% T7 _2 [0 Q　　A.Proper diversification can reduce or eliminate systematic risk B.As more securities are added to a portfolio， total risk typically would be expected to fall at a decreasing rate
9 }8 o4 D1 G9 \$ U- R) k　　C.The risk-reducing benefits of diversification do not occur meaningfully until at least 30 individual securities are included in the portfolio
5 a4 ?6 j" }6 ]( L　　D.Diversification reduces the portfolio's expected return because it reduces a portfolio's total risk
, X$ w/ K" i1 G　　27.Your customer is the applicant for a documentary credit.Which of the following points would appear to be illogical if they appeared on the application form？ ______。
9 _/ q* y  i- r　　A.Invoice price shown as FOB， bills of lading to be marked freight paid
, {+ `# I3 }7 v! B  v2 K5 C　　B.Last date for shipment one week before expiry date
　　C.Invoice price shown as C&F， but no insurance document requested
　　D.No mention of the latest date of shipment
. T, ^2 M# R8 e, H6 I; C5 x* G　　28.Portfolio theory as described by Markowitz is most concerned with ______。
3 Y5 e5 N& N4 Y/ J9 w2 L* g　　A.　the effect of diversification on portfolio risk
- \# d% O4 A3 `　　B.　B.the elimination of systematic risk
　　C.　active portfolio management to enhance return
　　D.　the identification of unsystematic risk
- Q; O% a: _5 l+ Z" S) s　　29.Commercial bank deposits with the central bank are part of the bank's ______。
　　A.net worth
3 `) ^) }  R, M9 O: a, v　　B.demand deposits C.loan portfolio
　　D.reserves
$ L2 _5 Y) |& \- ?, B　　30.Foreign trade can be conducted on the following terms except for ______。
　　A.open account
　　B.documentary collection
$ x% I- e- h. S9 Z; |0 g　　C.documentary credits
　　D.public bonds