5. Assuming that you had decided to take a trip to an unfamiliar city or country on your own, how would you prepare for this trip？

(b) Assuming that the acquisition proceeds, what steps will Datum Paper Products need to take to build a shared

culture in the two companies? (10 marks)

(c) Assuming that Stuart:

(i) purchased 201,000 shares in Omega plc on 3 December 2005; and

(ii) dies on 20 December 2007,

calculate the potential inheritance tax (IHT) liability which would arise if Rebecca were to die on 1 March

2008, and no further tax planning measures were taken.

Assume that all asset values remain unchanged and that the current rates of inheritance tax continue to

apply. (6 marks)

(ii) Assuming the new structure is implemented with effect from 1 August 2006, calculate the level of

management charge that should be made by Bold plc to Linden Limited for the year ended 31 July

2007, so as to minimise the group’s overall corporation tax (CT) liability for that year. (2 marks)

On 1 October 2009 Mocca entered into a construction contract that was expected to take 27 months and therefore be completed on 31 December 2011. Details of the contract are:

Plant for use on the contract was purchased on 1 January 2010 (three months into the contract as it was not required at the start) at a cost of $8 million. The plant has a four-year life and after two years, when the contract is complete, it will be transferred to another contract at its carrying amount. Annual depreciation is calculated using the straight-line method (assuming a nil residual value) and charged to the contract on a monthly basis at 1/12 of the annual charge.

The correctly reported income statement results for the contract for the year ended 31 March 2010 were:

The percentage of completion is calculated as the agreed value of work completed as a percentage of the agreed contract price.

Required:

Calculate the amounts which would appear in the income statement and statement of financial position of Mocca, including the disclosure note of amounts due to/from customers, for the year ended/as at 31 March 2011 in respect of the above contract.

Assuming that a constant travel-time budget, geographic constraints and short-term infrastructure constraints persist as fundamental features of global mobility, what long-term results can one expect7 In high-income regions, 【C1】______ North America, our picture suggests that the share of traffic 【C2】______ sup plied by buses and automobiles will decline as high-speed transport rises sharply. In developing countries, we 【C3】______ the strongest increase to be in the shares first for buses and later for automobiles. Glob ally, these 【C4】______ in bus and automobile transport are partially offsetting. In all regions, the share of low-speed rail transport will probably continue its strongly 【C5】______ decline.

We expect that throughout the period 1990—2050, the 【C6】______ North American will continue to de vote most of his or her 1. 1-hour travel-time 【C7】______ to automobile travel. The very large demand 【C8】______ air travel (or high-speed rail travel) that will be manifest in 2050 【C9】______ to only 12 minutes per person a day; a little time goes a long way in the air. In several developing regions, most travel 【C10】______ in 2050 will still be devoted to nonmotorized modes. Buses will persist 【C11】______ the primary form. of motorized transportation in developing countries for decades. 【C12】______ important air travel becomes, buses, automobiles and 【C13】______ low-speed trains will surely go on serving vital functions. 【C14】______ of the super-rich al ready commute and shop in aircraft, but average people will continue to spend most of their travel time on the 【C15】______.

【C1】______

A．frankly

B．exceptionally

C．unfortunately

D．notably

AssumingthattheserializeBanana（）andthedeserializeBanana（）methodswillcorrectlyuseJavaserializationandgiven：

importjava.io.*；

classFoodimplemerttsSerializable{intgood=3；}

classFruitexterndsFood{intjuice=5；}

publicclassBananaextendsFruit{

intyellow=4；

publicstaticvoidmain（String[]args）{

Bananab=newBanana（）；Bananab2=newBanana（）；

b.serializeBanana（b）；//assumecorrectserialization

b2=b.deserializeBanana（）；//assumecorrect

System.out.println（”restore+b2.yellow+b2.juice+b2.good）；

}

//moreBananamethodsgohere

}

Whatistheresult？（）

AssumingthattheserializeBanana2（）andthedeserializeBanana2（）methodswillcorrectlyuseJavaserializationandgiven：

importjava.io.*；

classFood{Food（）{System.out.print（”1”）；}}

classFruitextendsFoodimplementsSerializable{

Fruit（）{System.out.print（”2”）；}}

publicclassBanana2extendsFruit{intsize=42；

publicstaticvoidmain（String[]args）{

Banana2b=newBanana2（）；

b.serializeBanana2（b）；//assumecorrectserialization

b=b.deserializeBanana2（b）；//assumecorrect

System.out.println（”restored+b.size+）；}

//moreBanana2methods

}

Whatistheresult？（）

Harold purchases land and a building by paying cash of $35,000, and assuming the seller's $82,000 mortgage.In addition, Harold pays $3,000 of legal fees related to the purchase.For property tax purposes, the land is valued at $17,000 and the building at $34,000.Harold's basis in the building is()

A、$17,000

B、$34,000

C、$40,000

D、$80,000

E、$120,000

Assuming that a constant travel-time budget, geographic constraints and short-term infrastructure constraints persist as fundamental features of global mobility, what long-term results can one expect? In high-income regions,【41】North America, our picture suggests that the share of traffic【42】supplied by buses and automobiles will decline as high-speed transport rises sharply. In developing countries, we【43】the strongest increase to be in the shares first for buses and later for automobiles. Globally, these【44】in bus and automobile transport are partially offsetting. In all regions, the share of lowspeed mil transport will probably continue its strongly【45】decline.

We expect that throughout the period 1990～2050, the【46】North American will continue to devote most of his or her 1.1-hour travel-time【47】to automobile travel. The very large demand【48】air travel (or high-speed mil travel) that will be manifest in 2050【49】to only 12 minutes per person a day; a little time goes a long way in the air. In several developing regions, most travel【50】in 2050 will still be devoted to nonmotorized modes. Buses will persist【51】the primary form. of motorized transportation in developing countries for decades.【52】important air travel becomes, buses, automobiles and【53】lowspeed trains will surely go on serving vital functions.【54】of the super-rich already commute and shop in aircraft, but average people will continue to spend most of their travel time on the【55】.

(21)

A．frankly

B．exceptionally

C．unfortunately

D．notably

Assuming that a constant travel-time budget, geographic constraints and short-term infrastructure constraints persist as fundamental features of global mobility, what long-term results can one expect? In high-income regions,【21】North America, our picture suggests that the share of traffic【22】supplied by buses and automobiles will decline as high-speed transport rises sharply. In developing countries, we【23】the strongest increase to be in the shares first for buses and later for automobiles. Globally, these【24】in bus and automobile transport are partially offsetting. In all regions, the share of low-speed rail transport will probably continue its strongly【25】decline.

We expect that throughout the period 1990～2050, the【26】North American will continue to devote most of his or her 1.1-hour travel-time【27】to automobile travel. The very large demand【28】air travel (or high-speed rail travel) that will be manifest in 2050【29】to only 12 minutes per person a day; a little time goes a long way in the air. In several developing regions, most travel【30】in 2050 will still be devoted to nonmotorized modes. Buses will persist【31】the primary form. of motorized transportation in developing countries for decades.【32】important air travel becomes, buses, automobiles and【33】low-speed trains will surely go on serving vital functions.【34】of the super-rich already commute and shop in aircraft, but average people will continue to spend most of their travel time on the【35】.

(21)

A．frankly

B．exceptionally

C．unfortunately

D．notably