He said he would go ______ the rain.A.withoutB.in spite ofC.even ifD.no matter how
He said he would go ______ the rain.
A.without
B.in spite of
C.even if
D.no matter how
He said he would go ______ the rain.
A.without
B.in spite of
C.even if
D.no matter how
【C7】______with a committee report this year which said that self regulation did not【C8】______sufficient control.【C9】______of the letter came two days after Lord Irvine caused a【C10】______of media protest when he said the【C11】______of privacy controls contained in European legislation would be left to judges【C12】______to Parliament.
The Lord Chancellor said introduction of the Human Rights Bill, which【C13】______the European Convention on Human Rights legally【C14】______in Britain, laid down that everybody was【C15】______to privacy and that public figures could go to court to protect themselves and their families.
“Press freedoms will be in safe hands【C16】______our British judges,” he said. Witness payments became an【C17】______after West was sentenced to 10 life sentences in 1995.Up to 19 witnesses were【C18】______to have received payments for telling their stories to newspapers. Concerns were raised【C19】______witnesses might be encouraged to exaggerate their stories in court to【C20】______guilty verdicts.
【C1】
A.as to
B.for instance
C.in particular
D.such as
Passage Two
I was only eight years old when the Second World War ended, but I can still remember something about the victory celebrations in the small town where I lived on the day when the war in Europe ended. We had not suffered much from the war there. But both at home and at school I had become accustomed to the phrases "before the war" and "when the war's over". "Before the war", apparently, things had been better, though I was too young to understand why, except that there had been no bombs then, and people had eaten things like ice -cream and bananas, which I had only heard of . When the war was over we would go back to London, but this meant little to me. I did not remember what London was like.
What I remember now about VE (Victory in Europe) Day was the May evening. After dinner I said I wanted to see the bonfire (大火堆) , so when it got dark my father took me to the end of the street. The bonfire was very high, and somehow people had collected some old clothes to dress the un- mistakable figure with the moustache (胡子) they had to put on top of it. Just as we arrived, they set light to it. The flames rose and soon swallowed the "guy". Everyone was cheering and shouting, and an old woman came out of her house with two chairs and threw them on the fire to keep it going.
I stood beside my father until the fire started to go down, not knowing what to say. He said nothing, either. He had fought in the First World War and may have been remembering the end of that. At last he said, "Well, that's it, son. Let's hope that this time it really will be the last one."
40. Where did the author live before the Second World War?
A. In London.
B. In a small town.
C. In Europe.
D. In the countryside.
What I remember now about VE Day was the afternoon and the evening. It was a fine May day. I remember coming home at about five o'clock. My father and mother came in about an hour later. After dinner I said I wanted to see the bonfire (篝火), so when it got dark my father took me to the end of the street. The bonfire was very high, and some peo-ple had collected some old clothes to dress the unmistakable figure with the moustache (小胡子) they had put on top of it. Just as we arrived, they set light to it. The flames rose and soon covered the "guy." Everyone was cheering and shouting, and an old woman came out of her house with two chairs and threw them on the fire to keep the fire going.
I stood beside my father until the fire started to go down, not knowing what to say. He said nothing either. He had fought in the First World War and may have been remem-bering the end of that. At last he said, "Well, that's it, son. Let's hope that this time it really will be the last one. "
Where did the narrator live before the Second World War?
A.In a small city.
B.In London.
C.In Europe.
D.In the countryside.
A.venture
B.jeopardize
C.legalize
D.expose
Clint was playing a game with a girl. I sat in the corner watching him. I didn't feel that I had whatever it took to get up and mix with others because of my self-esteem problem. Finally I got up the courage to order a drink for him. When he got it, he gave me the most dazzling smile. We spent the rest of the evening talking until I realized that it was almost morning. I figured that he was simply being nice to me because I had bought him a drink, but the very next day he called and told me that he could not stop thinking about me and that he wanted to meet my kids too.
(81) About 3 months later, my divorce was final and Clint sat my boys down and asked them if it was all right with them if he asked me to marry him because he could not imagine life without the three of us anymore. I was so touched that he went to my boys and asked for their approval because they were the "men of the house" at the ripe old ages of 2 and 4. They said yes and we have all been together ever since. Clint gave me and my boys a second chance at a wonderful life. (82) Not a day goes by that he doesn't tell we are the best thing that ever has happened to him and that he loves us.
The writer's first marriage was unsuccessful because______ .
A.her husband often woke her up at midnight
B.her husband kept criticizing her
C.she was unattractive
D.she had a self-esteem problem
A scientist who wants to predict the way in which consumers(消费者) will spend their money must study consumer behavior. He must obtain data both on the resources of consumers and on the motives that tend to encourage or discourage money spending.
If an economist were asked which of three groups borrow most—people with rising incomes, stable incomes, or 'decreasing incomes—he would probably answer, those with decreasing incomes. Actually, in the years 1947~1950, the answer was: people with rising incomes. People with decreasing incomes were next and people with stable incomes borrowed the least. This shows us that traditional assumptions(假设) about earning and spending are not always reliable. Another traditional assumption is that if people who have money expect prices to go up they will hasten to buy. If they expect prices to go down, they will postpone buying. But research surveys have shown that this is not always true. The expectations of price increases may not stimulate buying. One typical attitude was expressed by the wife of a mechanic in an interview at a time of rising prices. "In a few months", she said, "we'll have to pay more for meat and milk; we'll have less to spend on other things". Her family had been planning to buy a new car but they postponed this purchase. Furthermore, the rise in prices that has already taken place may be disliked and buyers' resistance may be produced. This is shown by the following typical comment; "I just don't pay these prices; they are too high".
The investigations mentioned above were carried out in America; condition most helpful to spending appears to be price stability. If prices have been stable and people consider that they are reasonable, they are likely to buy. Thus, it appears that the common business policy of maintaining stable prices is based on a correct understanding of consumer psychology(心理学).
According to the passage, if one wants to predict the way people spend their money, he should______.
A.rely on traditional assumptions about earning and spending
B.try to encourage or discourage consumers to spend money
C.carry out investigations on consumer behavior. and get data of consumers incomes and money spending motives
D.do researches in consumer psychology in a laboratory
As a boy he was taught by his father to hunt and fish along the shores and in the forests around Lake Michigan. The Hemingways had a summer house in northern Michigan, and the family would spend the summer months there trying to stay cool. Hemingway would either fish the different streams that ran into the lake, or would take the small boat out to do some fishing there. He would also go squirrel hunting in the woods, discovering early in life the peace to be found while alone in the forest or going through a stream. It was something he could always go back to throughout his life, and though he often found himself living in major cities like Chicago, Toronto and Paris early in his life, once he became successful he chose somewhat isolated places to live in.
When he wasn't hunting or fishing his mother taught him the good points of music. She was a skilled singer who once had wished a life on stage, but at last settled down with her husband and spent her time by giving voice and music lessons to local children, including her own. Hemingway was never talented for music and suffered through singing practices and music lessons, however, the musical knowledge he got from his mother helped him share in his first wife Hadley's interest in the piano.
Ernest Hemingway died in______.
A.1969
B.1979
C.1981
D.1961
As a boy he was taught by his father to hunt and fish along the shores and in the forests around Lake Michigan. The Hemingways had a summer house in northern Michigan, and the family would spend the summer months there trying to stay cool. Hemingway would either fish the different streams that ran into the lake, or would take the small boat out to do some fishing there. He would also go squirrel hunting in the woods, discovering early in life the peace to be found while alone in the forest or going through a stream. It was something he could always go back to throughout his life, and though he often found himself living in major cities like Chicago, Toronto and Paris early in his life, once he became successful he chose somewhat isolated places to live in.
When he wasn't hunting or fishing his mother taught him the good points of music. She was a skilled singer who once had wished a life on stage, but at last settled down with her husband and spent her time by giving voice and music lessons to local children, including her own. Hemingway was never talented for music and suffered through singing practices and music lessons, however, the musical knowledge he got from his mother helped him share in his first wife Hadley's interest in the piano.
Ernest Hemingway died in______.
A.1969
B.1979
C.1981
D.1961
2 The risk committee at Southern Continents Company (SCC) met to discuss a report by its risk manager, Stephanie
Field. The report focused on a number of risks that applied to a chemicals factory recently acquired by SCC in another
country, Southland. She explained that the new risks related to the security of the factory in Southland in respect of
burglary, to the supply of one of the key raw materials that experienced fluctuations in world supply and also an
environmental risk. The environmental risk, Stephanie explained, was to do with the possibility of poisonous
emissions from the Southland factory.
The SCC chief executive, Choo Wang, who chaired the risk committee, said that the Southland factory was important
to him for two reasons. First, he said it was strategically important to the company. Second, it was important because
his own bonuses depended upon it. He said that because he had personally negotiated the purchase of the Southland
factory, the remunerations committee had included a performance bonus on his salary based on the success of the
Southland investment. He told Stephanie that a performance-related bonus was payable when and if the factory
achieved a certain level of output that Choo considered to be ambitious. ‘I don’t get any bonus at all until we reach
a high level of output from the factory,’ he said. ‘So I don’t care what the risks are, we will have to manage them.’
Stephanie explained that one of her main concerns arose because the employees at the factory in Southland were not
aware of the importance of risk management to SCC. She said that the former owner of the factory paid less attention
to risk issues and so the staff were not as aware of risk as Stephanie would like them to be. ‘I would like to get risk
awareness embedded in the culture at the Southland factory,’ she said.
Choo Wang said that he knew from Stephanie’s report what the risks were, but that he wanted somebody to explain
to him what strategies SCC could use to manage the risks.
Required:
(a) Describe four strategies that can be used to manage risk and identify, with reasons, an appropriate strategy
for each of the three risks mentioned in the case. (12 marks)
【C1】
A.world
B.global
C.worldly
D.globe
1 The board of Worldwide Minerals (WM) was meeting for the last monthly meeting before the publication of the yearend
results. There were two points of discussion on the agenda. First was the discussion of the year-end results;
second was the crucial latest minerals reserves report.
WM is a large listed multinational company that deals with natural minerals that are extracted from the ground,
processed and sold to a wide range of industrial and construction companies. In order to maintain a consistent supply
of minerals into its principal markets, an essential part of WM’s business strategy is the seeking out of new sources
and the measurement of known reserves. Investment analysts have often pointed out that WM’s value rests principally
upon the accuracy of its reserve reports as these are the best indicators of future cash flows and earnings. In order to
support this key part of its strategy, WM has a large and well-funded geological survey department which, according
to the company website, contains ‘some of the world’s best geologists and minerals scientists’. In its investor relations
literature, the company claims that:
‘our experts search the earth for mineral reserves and once located, they are carefully measured so that the company
can always report on known reserves. This knowledge underpins market confidence and keeps our customers
supplied with the inventory they need. You can trust our reserve reports – our reputation depends on it!’
At the board meeting, the head of the geological survey department, Ranjana Tyler, reported that there was a problem
with the latest report because one of the major reserve figures had recently been found to be wrong. The mineral in
question, mallerite, was WM’s largest mineral in volume terms and Ranjana explained that the mallerite reserves in
a deep mine in a certain part of the world had been significantly overestimated. She explained that, based on the
interim minerals report, the stock market analysts were expecting WM to announce known mallerite reserves of
4·8 billion tonnes. The actual figure was closer to 2·4 billion tonnes. It was agreed that this difference was sufficient
to affect WM’s market value, despite the otherwise good results for the past year. Vanda Monroe, the finance director,
said that the share price reflects market confidence in future earnings. She said that an announcement of an incorrect
estimation like that for mallerite would cause a reduction in share value. More importantly for WM itself, however, it
could undermine confidence in the geological survey department. All agreed that as this was strategically important
for the company, it was a top priority to deal with this problem.
Ranjana explained how the situation had arisen. The major mallerite mine was in a country new to WM’s operations.
The WM engineer at the mine said it was difficult to deal with some local people because, according to the engineer,
‘they didn’t like to give us bad news’. The engineer explained that when the mine was found to be smaller than
originally thought, he was not told until it was too late to reduce the price paid for the mine. This was embarrassing
and it was agreed that it would affect market confidence in WM if it was made public.
The board discussed the options open to it. The chairman, who was also a qualified accountant, was Tim Blake. He
began by expressing serious concern about the overestimation and then invited the board to express views freely. Gary
Howells, the operations director, said that because disclosing the error to the market would be so damaging, it might
be best to keep it a secret and hope that new reserves can be found in the near future that will make up for the
shortfall. He said that it was unlikely that this concealment would be found out as shareholders trusted WM and they
had many years of good investor relations to draw on. Vanda Monroe, the finance director, reminded the board that
the company was bound to certain standards of truthfulness and transparency by its stock market listing. She pointed
out that they were constrained by codes of governance and ethics by the stock market and that colleagues should be
aware that WM would be in technical breach of these if the incorrect estimation was concealed from investors. Finally,
Martin Chan, the human resources director, said that the error should be disclosed to the investors because he would
not want to be deceived if he were an outside investor in the company. He argued that whatever the governance codes
said and whatever the cost in terms of reputation and market value, WM should admit its error and cope with
whatever consequences arose. The WM board contains three non-executive directors and their views were also
invited.
At the preliminary results presentation some time later, one analyst, Christina Gonzales, who had become aware of
the mallerite problem, asked about internal audit and control systems, and whether they were adequate in such a
reserve-sensitive industry. WM’s chairman, Tim Blake, said that he intended to write a letter to all investors and
analysts in the light of the mallerite problem which he hoped would address some of the issues that Miss Gonzales
had raised.
Required:
(a) Define ‘transparency’ and evaluate its importance as an underlying principle in corporate governance and in
relevant and reliable financial reporting. Your answer should refer to the case as appropriate. (10 marks)