首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Read the following article about annual reports and the questions on the opposite page. For each question(13-18), mark one lett
Read the following article about annual reports and the questions on the opposite page. For each question(13-18), mark one lett
admin
2013-08-03
51
问题
Read the following article about annual reports and the questions on the opposite page.
For each question(13-18), mark one letter(A, B, C or D)on your Answer Sheet.
How to Read Annual Reports
First, turn back to the report of the certified public accountant. This third-party auditor will tell you right off the bat if Galaxy’s report conforms with "generally accepted accounting principles". Then go to the footnotes. Check to see whether earnings are up or down. The footnotes often tell the whole story.
Next, turn to the letter from the chairman. Typically addressed "to our shareholders," it’s up front in more ways than one. The chairman’s tone reflects the personality and well-being of the company. In his letter, the chairman should tell you how the company fared this year. But more importantly, the letter should tell you why. Keep an eye out for sentences that start with " Except for ..." and " Despite the ... " They are clues to problems. On the positive side, a chairman’s letter should give you insights into the company’s future and its stance on economical or political issues that may affect it.
Now begin digging into the numbers!
One source is the balance sheet. It is a snapshot of how the company stands at a single point in time. At the top are assets — everything the company owns. Things that can quickly be turned into cash are current assets. On the bottom are liabilities — everything the company owes. Current liabilities are the debts due in one year, which are paid out of current assets. The difference between current assets and current liabilities is working capital, a key figure to watch from one annual report to another. If working capital shrinks, it could mean trouble. One possibility: the company may not be a-ble to keep dividends growing rapidly. Owners’ equity is the difference between total assets and liabilities. It is the presumed dollar value of what the owners or shareholders own. You want it to grow.
The second basic source of numbers is the income statement. It shows how much money Galaxy made or lost over the year. Most people look at one figure first. It’s in the income statement at the bottom: earnings per share. Watch out. It can fool you. Galaxy’s management could boost earnings by selling off a plant or by cutting the budget for research and advertising. The number you should look at first in the income statement is net sales. Ask yourself: Are sales going up at a faster rate than the last time around? When sales increases start to slow, the company may be in trouble. Have sales gone down because the company is selling off a losing business? If so, profits may be soaring.
Another important thing to study is the company’s debt. Turn to the balance sheet, and divide long-term liabilities by owner’s equity. That’s the debt-to-equity ratio. A high ratio means the company borrows a lot of money to spark its growth. That’s okay if sales grow too, and if there’s enough cash on hand to meet the payments. A company doing well on borrowed money can earn big profits for its shareholders. But if sales fall, watch out. The whole enterprise may slowly sink. Some companies can handle high ratios; others can’t.
Finally, you have to compare. Is the company’s debt-to-equity ratio better or worse than it used to be? Better or worse than the industry norms? In company-watching, comparisons are all. They tell you if management is staying on top of things.
According to the article, a drop in working capital shows that
选项
A、both current assets and current liabilities fall.
B、current assets decline while current liabilities rise.
C、both current assets and current liabilities remain the same as the previous year.
D、current assets increase but current liabilities decrease.
答案
B
解析
文中第四段:“The difference betweencurrent assets and current liabilities is workingcapital,a key figure to watch from one annualreport to another.If working capital shrinks,itcould mean trouble.”选项B符合题意。
转载请注明原文地址:https://kaotiyun.com/show/xAoO777K
本试题收录于:
BEC中级阅读题库BEC商务英语分类
0
BEC中级阅读
BEC商务英语
相关试题推荐
Inthispartofthetest,youareaskedtogiveashorttalkonabusinesstopic.Youhavetochooseoneofthetopicsfromthe
Inthispartofthetest,youareaskedtogiveashorttalkonabusinesstopic.Youhavetochooseoneofthetopicsfromthe
Inthispart,theinterlocutorasksquestionstoeachofthecandidatesinturn.Youhavetogiveinformationaboutyourselfand
WhatdoesKatherinedislikeaboutthecourse?Shepredictsthatbusinesseswillincreasinglyneedtorespondto
Consumersareconcernedaboutthechangesinthepackagesize,mainlybecause______.WhatstartedthepublicandCongressional
Youwillhearatalkpresentedbyareporter.Thistalkisaboutmergers.Youhavetocompletethesentences23--30bychoosing
Consumersareconcernedaboutthechangesinthepackagesize,mainlybecause______.Averagefamilypays______dollarsayear
—Readthearticleaboutchoosinganagent.—Inmostofthelines34~45thereisoneextraword.Itiseithergrammaticallyincor
—Readthetextbelowaboutjobadvertisement.—Inmostofthelines41-52thereisoneextraword.Itiseithergrammaticallyin
—Readthetextbelowaboutjobadvertisement.—Inmostofthelines41-52thereisoneextraword.Itiseithergrammaticallyin
随机试题
爱国主义的优良传统。
患者右上腹疼痛,发热,WBC升高,胆囊大且内见絮状物回声,可能是
A.表面麻醉B.浸润麻醉C.传导麻醉D.荐尾麻醉E.全身麻醉犬膀胱切开术时,最适宜的麻醉是
患者右侧牙剧痛来急诊。查见右上第一磨牙咬合面龋深,叩痛(+)。要做温度测验时,最好的对照牙应选
施工企业进行施工组织、成本管理、经济核算和投标报价的重要依据是()
气体灭火系统防护区和保护对象消防要求有哪些?
真实的历史事实及其史料依据。是历史叙事的基本要素。历史学的任务不仅是考证历史事实,还应该完整地还原出历史人物、历史事件和历史过程的面貌。为此,历史研究者需要把各种历史事实加以联结和组合。而主张后现代主义史学理论的学者认为,历史研究者可以在不违反学科规范的前
《晋书>
n为给定的自然数,极限=____________.
_______thebosssays,itisunreasonabletoaskmetoworkovertimewithoutpay.
最新回复
(
0
)