题目内容
（请给出正确答案）
A.stated value stock.
B.fixed value stock.
C.uniform. value stock.
D.par value stock.
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此题为判断题(对，错)。
A.$34,000
B.$48,600
C.$54,000
D.$62,000
E.$74,000
After the close of regular trading yesterday, Turner sold a block of 60 million shares to Goldman Sachs & Co. for $ 13.07 per share, or 31 cents below the stock's closing price yesterday. Goldman was said by Wall Street sources to be offering the stock to major investors for $ 13.15.
An outspoken critic of the corporation, Turner remains AOL Time Warner's largest individual shareholder, with 45 million shares, and a member of its board of directors. A spokeswoman for Turner referred questions to AOL Time Warner.
At his peak Turner owned about 130 million shares, but he lost billions of dollars in wealth and grew bitter after the stock plunged following the merger of America Online and Time Warner in January 2001.
Turner, who initially supported the merger, later expressed outrage over revelations that America Online had manipulated its financial results. The Securities and Exchange Commission is investigating AOL, and the corporation has acknowledged discovering tens of millions of dollars of overstated revenue.
Turner resigned as vice chairman earlier this year and has been spending less of his time on AOL Time Warner matters. He stepped down after achieving his goal of pressuring America Online founder Steve Case to resign as the corporation's chairman. Case said he was giving up the post to avoid a braising public battle for reelection at next week's annual meeting.
In the effort to oust Case, Turner teamed up with Gordon Crawford, the senior media portfolio manager at Capital Research & Management, the largest institutional shareholder in AOL Time Warner. Capital Research has indicated it will vote against Case's election to remain on the board of directors next week--a position that analysts said should not affect the outcome. Turner, meanwhile, has said he will support the management slate that includes Case and will make Richard D. Parsons the company's chairman and chief executive.
Turner, a visionary who started Cable News Network, is in the midst of rolling out a new chain of restaurants, Ted's Montana Grill, featuring bison burgers. He recently moved his residence from Georgia to Florida for estate planning purposes and is spending time and money on his independent film company, which lost millions of dollars on a lengthy movie about the Civil War.
From the first three paragraphs, we learn that ______.
A．Goldman has made a profit from this transaction of shares with Turner
B．Turner always expresses his dissatisfaction with the corporation openly
C．Goldman bought the block of shares in order to become a member of the board
D．Turner sold a large portion of his shares to retreat from the media business
The Euro Disney Corporation, acknowledging that its elaborate theme park had not performed as strongly as expected, announced Thursday that it would sustain a net financial loss of unpredictable scale in its first financial year.
At the time of the April opening of the park, which stands on a 4,800-acre site 32 kilometers (20 miles) east of Paris, Euro Disney officials said they expected to make a small profit for the financial year ending September 30． But since then the park has been hit by a number of problems.
"We were geared up for a very high level of operations," John Forsgren, the company's chief financial officer said in a telephone interview. "It has been very strong, but not as strong as we geared up for."
"While attendance is very strong," he said, "our cost levels do require adjustment for the current revenue level."
The parent company, Walt Disney Corporation, said Thursday that its income rose 33 percent in the quarter. But it warned investors against expecting profits soon from Euro Disney, of which it owns 49 percent.
Euro Disney said that although attendance levels had been high, "the company anticipates that it will sustain a net loss for the financial year ending September 30, 1992". It added that "the amount of the loss will depend on attendance and hotel use rates achieved during the remaining portion of the critical European summer vacation period". The announcement amounted to an extraordinary reversal for Euro Disney, which opened amid immense celebration and widespread predictions of immediate success.
At the time of the opening, on April 12, the company's shares were trading at 140.90 francs ($28.07), and had been as high as 170 francs earlier in the year. They dropped 2.75 percent Thursday to close at 97.25 francs. Mr. Forsgren said he thought the market had "reacted a bit emotionally to preliminary information". He added, "By all objective standards the park is very successful. The long-term acceptance is strong, the rest is just details."
The company said that 3.6 million people had visited the park from April 12 to July 22, a performance superior to that of comparable start-up periods at other Disney theme parks. But it warned that, given the likely strong seasonal variation in attendance, it was not possible to predict future attendance or profits.
Reacting to the announcement, stock market expert Paribas Capital Markets Group issued a "sell" recommendation on Euro Disney stock, saying that attendance levels for the period were 15 percent below its expectations and profit from sales of food and other goods was 10 percent below. It predicted that the company would lose 300 million francs in the current financial year and continue losing money for two more years.
The main problem confronting Euro Disney appears to be managing its costs and finding an appropriate price level for its over 5,000 hotel rooms. Clearly, costs have been geared to a revenue level that has not been achieved, and the company is beginning to drop hotel prices that have been widely described as excessive.
Mr. Forsgren said the number of staff, now at 17,000, would "come down significantly in the next two months, mainly through the loss of seasonal employees". Of the current staff, 5,000 are employed on a temporary basis, he said.
He also acknowledged that the lowest-priced rooms at the resort had been cut to 550 francs ($110) from 750 francs at the time of the opening, and that some rooms were being offered at 400 francs for the winter season. Analysts believe hotel use has been running at about 68 percent of capacity, although it is currently over 90 percent.
"The key issue is costs, " said one financial expert. "They have no idea what their winter attendance levels will be and they're battling to get costs to an appropriate level. The stock's still too expensive, but I think in the long term they'll get it right."
Still, huge doubt hangs over the company's plans to keep the theme park open through the cold European winter—something no other theme park in Europe has ever attempted. Last month, the company said it was having difficulty attracting people from the Paris region. Mr. Forsgren said that French attendance was improving and accounted for 1 million of the 3.6 million visitors, with most of the rest coming from Britain and Germany. Only 1 percent of visitors have been American.
For its third quarter ending June 30, the first in which the park had been operating, the company announced revenues of 2.47 billion francs ($492 million), but gave no profit or loss figures in line with the French practice of only giving such figures at year's end. In the first half, the company earned 75 million francs, mainly from investment income and sale of construction rights on its site.
On weekdays in pubs and bars throughout America, there is the late afternoon happy hour. The time may vary from place to place, but usually it is held from four to seven. After the workday is finished, office workers in large cities and small towns take a relaxing pause and do not go directly home. They head off instead for the nearest bar or pub to be with friends, co- workers and colleagues. Within minutes the pub is filled to capacity with businessmen and secretaries, office clerks and stock executives. They gather around the bar like birds around a fountain or forest animals around a watering hole and chat about the trifles of office life or matters more personal. This is their desert garden, the place to relieve the day's stress at the office.
At these happy hours, social binding occurs between people who share the same workplace or similar professions. They may chat about each other or talk about a planned project that has yet to meet a deadline. In this sense, these places become extensions of the workplace and constitute a good portion of one's social life.
For office workers and businessmen, the happy hour is their ______.
A．professional requirement
B．regular practice
C．refreshing break
D．unpaid work
When a message occurs can also (13)_____ associated meaning. A friend's unusually docile behavior. may only be understood by (14)_____ that it was preceded by situations that required a(n) (15)_____ amount of assertiveness.
We would do well to listen for how message are (16)_____ The words, "it sure has been nice to have you over", can be said with (17)_____ and excited or ritualistically. The phrase can be said once or (18)_____ several times. And the meaning we associate with the phrase will change (19)_____ Sometimes if we say something infrequently it assumes more importance; sometimes the more we say something the (20)_____ importance it assumes.
A．omitted
B．resulted
C．dismissed
D．derived
At the date of acquisition, shares in Viagem and Greca had a stock market value of $6·50 and $2·50 each, respectively.
Income statements for the year ended 30 September 2012
The following information is relevant:
(i) At the date of acquisition, the fair values of Greca’s assets were equal to their carrying amounts with the exception of two items:
– An item of plant had a fair value of $1·8 million above its carrying amount. The remaining life of the plant at the date of acquisition was three years. Depreciation is charged to cost of sales.
– Greca had a contingent liability which Viagem estimated to have a fair value of $450,000. This has not changed as at 30 September 2012.
Greca has not incorporated these fair value changes into its financial statements.
(ii) Viagem’s policy is to value the non-controlling interest at fair value at the date of acquisition. For this purpose, Greca’s share price at that date can be deemed to be representative of the fair value of the shares held by the non-controlling interest.
(iii) Sales from Viagem to Greca throughout the year ended 30 September 2012 had consistently been $800,000 per month. Viagem made a mark-up on cost of 25% on these sales. Greca had $1·5 million of these goods in inventory as at 30 September 2012.
(iv) Viagem’s investment income is a dividend received from its investment in a 40% owned associate which it has held for several years. The underlying earnings for the associate for the year ended 30 September 2012 were $2 million.
(v) Although Greca has been profitable since its acquisition by Viagem, the market for Greca’s products has been badly hit in recent months and Viagem has calculated that the goodwill has been impaired by $2 million as at 30 September 2012.
Required:
(a) Calculate the consolidated goodwill at the date of acquisition of Greca.
(b) Prepare the consolidated income statement for Viagem for the year ended 30 September 2012. The following mark allocation is provided as guidance for these requirements:
(a) 7 marks
(b) 14 marks
(c) The carrying amount of a subsidiary’s leased property will be subject to review as part of the fair value exercise on acquisition and may be subject to review in subsequent periods.
Required:
Explain how a fair value increase of a subsidiary’s leased property on acquisition should be treated in the consolidated financial statements; and how any subsequent increase in the carrying amount of the leased property might be treated in the consolidated financial statements.
Note: Ignore taxation. (4 marks)
【C1】
A．improvement
B．victory
C．failure
D．achievement
