Which party takes over the project and put it into use？

76 During which phase of the project life cycle is the amount at stake lowest?

A. concept

B. development

C. execution

D. conclusion

E. C and D

194 During which phase of the project life cycle is the amount at stake lowest?

A. concept

B. development

C. execution

D. conclusion

E. C and D

According to the passage, globalization takes over the part of empire because it______.

A．promotes the progress of other countries.

B．stimulates the independence of other countries.

C．gives birth to the dependence of America on other countries.

D．integrate the world into a whole.

Amy settles into her seat, takes out her computer and reads over the agenda for the meeting to which she's traveling.

听力原文： Woman: Isn't advertising really a kind of lying?

Man: I don't think so. Quite often people do try to get away with those types of things, but the Federal Trade Commission is always very quick to jump on them to force them to show evidence to back up the claims.

Woman: I mean in your work. I mean, don't you actually tell lies to get people buy things? Let me give you an example. You know, a movie star says that she uses—a starlet—says that she uses a certain kind of soap every night to make her skin look beautiful and, of course, she doesn't use it at all, or hardly ever.

Man: I think if you go back very recently, just within the last year, you'll remember that one of our famous singers and actors and was uh… called down for just that very thing, where he endorsed a product which he didn't use and had to take back what he said in his endorsements.

Woman: I see, so what you're saying is that you're freed to be honest in the profession.

Man: In some cases that may be true. I won't deny that.

Woman: Well, you've been in the ad business for nearly 15 years. What kind of work do you find most interesting?

Man: I would say, developing new markets, or not so much new markets, but when you have a product which previously people didn't perceive that they needed, but it is an advancement or an improvement over what people previously used, and are able to educate people and inform. them of a particular thing, and they discover it will make their life better and it is something that they could use.

Woman: To try to make them understand what's going on with a new product?

Man: Basically, that's it. This is where a lot of the progress or the amenities in life which we take for granted now… this is how they originally developed. Somebody thought of a new idea and convinced people that it was something they needed and after a period or time, it became what they considered a necessity. In other words, the advertising as a promotion will make people aware of a product, but… the product’s own worth will determine whether or not it's something that people will bring into their daily lives.

Woman: And… I suppose that if it endures over a long period of time that shows that the product really does have a stable value and that you're not lying.

Man: Well, I think that's a fair assumption… I won't try to tell you that in promoting things, people never lie, but the initial promotion simply gets people to try a product for the first time. And then if the product itself has any merit, then people will continue to use it. So, the quality of a product will determine whether it has any staying power.

27. What does the Federal Trade Commission force advertisers to do?

28.Why does the woman mention the movie star?

29.What kind of work does the man find most interesting in the ad business?

30.What does the man think is important in making people bring a product into their daily lives?

(47)

A．Justify the claims they make.

B．Appear in court.

C．Get away with their products.

D．Always be honest in the ads.

Which-of the sentences below expresses the essential information in the highlighted sentence in the passage? Incorrect choices change the meaning in important ways or leave out essential information.

A．He promised that the project would give jobs to people across America and help to create scientific breakthroughs.

B．He promised that the project would take a lot of work from many different people and that technology needed to be improved.

C．He promised that the jobs related to the project would help to create new technology all over the country.

D．He promised that the project would help to create a lot of new employment opportunities related to special types of rockets.

Which-of the sentences below expresses the essential information in the highlighted sentence in the passage? Incorrect choices change the meaning in important ways or leave out essential information.

A．He promised that the project would give jobs to people across America and help to create scientific breakthroughs.

B．He promised that the project would take a lot of work from many different people and that technology needed to be improved.

C．He promised that the jobs related to the project would help to create new technology all over the country.

D．He promised that the project would help to create a lot of new employment opportunities related to special types of rockets.

KXP Co is an e-business which trades solely over the internet. In the last year the company had sales of $15 million. All sales were on 30 days’ credit to commercial customers.

Extracts from the company’s most recent statement of financial position relating to working capital are as follows:

In order to encourage customers to pay on time, KXP Co proposes introducing an early settlement discount of 1% for payment within 30 days, while increasing its normal credit period to 45 days. It is expected that, on average, 50% of customers will take the discount and pay within 30 days, 30% of customers will pay after 45 days, and 20% of customers will not change their current paying behaviour.

KXP Co currently orders 15,000 units per month of Product Z, demand for which is constant. There is only one supplier of Product Z and the cost of Product Z purchases over the last year was $540,000. The supplier has offered a 2% discount for orders of Product Z of 30,000 units or more. Each order costs KXP Co $150 to place and the holding cost is 24 cents per unit per year.

KXP Co has an overdraft facility charging interest of 6% per year.

Required:

(a) Calculate the net benefit or cost of the proposed changes in trade receivables policy and comment on your findings. (6 marks)

(b) Calculate whether the bulk purchase discount offered by the supplier is financially acceptable and comment on the assumptions made by your calculation. (6 marks)

(c) Identify and discuss the factors to be considered in determining the optimum level of cash to be held by a company. (5 marks)

(d) Discuss the factors to be considered in formulating a trade receivables management policy. (8 marks)