(c) In October 2004, Volcan commenced the development of a site in a valley of ‘outstanding natural beauty’ onwhich to build a retail ‘megastore’ and warehouse in late 2005. Local government planning permission for thedevelopment, which was received in Ap
题目
(c) In October 2004, Volcan commenced the development of a site in a valley of ‘outstanding natural beauty’ on
which to build a retail ‘megastore’ and warehouse in late 2005. Local government planning permission for the
development, which was received in April 2005, requires that three 100-year-old trees within the valley be
preserved and the surrounding valley be restored in 2006. Additions to property, plant and equipment during
the year include $4·4 million for the estimated cost of site restoration. This estimate includes a provision of
$0·4 million for the relocation of the 100-year-old trees.
In March 2005 the trees were chopped down to make way for a car park. A fine of $20,000 per tree was paid
to the local government in May 2005. (7 marks)
Required:
For each of the above issues:
(i) comment on the matters that you should consider; and
(ii) state the audit evidence that you should expect to find,
in undertaking your review of the audit working papers and financial statements of Volcan for the year ended
31 March 2005.
NOTE: The mark allocation is shown against each of the three issues.
相似考题
更多“(c) In October 2004, Volcan commenced the development of a site in a valley of ‘outstanding natural beauty’ onwhich to build a retail ‘megastore’ and warehouse in late 2005. Local government planning permission for thedevelopment, which was received in Ap”相关问题
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第1题：
The capital of Scotland is Glasgow, which is well－known for its natural beauty.()此题为判断题(对，错)。
正确答案:×
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第2题：
4 Ryder, a public limited company, is reviewing certain events which have occurred since its year end of 31 October
2005. The financial statements were authorised on 12 December 2005. The following events are relevant to the
financial statements for the year ended 31 October 2005:
(i) Ryder has a good record of ordinary dividend payments and has adopted a recent strategy of increasing its
dividend per share annually. For the last three years the dividend per share has increased by 5% per annum.
On 20 November 2005, the board of directors proposed a dividend of 10c per share for the year ended
31 October 2005. The shareholders are expected to approve it at a meeting on 10 January 2006, and a
dividend amount of $20 million will be paid on 20 February 2006 having been provided for in the financial
statements at 31 October 2005. The directors feel that a provision should be made because a ‘valid expectation’
has been created through the company’s dividend record. (3 marks)
(ii) Ryder disposed of a wholly owned subsidiary, Krup, a public limited company, on 10 December 2005 and made
a loss of $9 million on the transaction in the group financial statements. As at 31 October 2005, Ryder had no
intention of selling the subsidiary which was material to the group. The directors of Ryder have stated that there
were no significant events which have occurred since 31 October 2005 which could have resulted in a reduction
in the value of Krup. The carrying value of the net assets and purchased goodwill of Krup at 31 October 2005
were $20 million and $12 million respectively. Krup had made a loss of $2 million in the period 1 November
2005 to 10 December 2005. (5 marks)
(iii) Ryder acquired a wholly owned subsidiary, Metalic, a public limited company, on 21 January 2004. The
consideration payable in respect of the acquisition of Metalic was 2 million ordinary shares of $1 of Ryder plus
a further 300,000 ordinary shares if the profit of Metalic exceeded $6 million for the year ended 31 October
2005. The profit for the year of Metalic was $7 million and the ordinary shares were issued on 12 November
2005. The annual profits of Metalic had averaged $7 million over the last few years and, therefore, Ryder had
included an estimate of the contingent consideration in the cost of the acquisition at 21 January 2004. The fair
value used for the ordinary shares of Ryder at this date including the contingent consideration was $10 per share.
The fair value of the ordinary shares on 12 November 2005 was $11 per share. Ryder also made a one for four
bonus issue on 13 November 2005 which was applicable to the contingent shares issued. The directors are
unsure of the impact of the above on earnings per share and the accounting for the acquisition. (7 marks)
(iv) The company acquired a property on 1 November 2004 which it intended to sell. The property was obtained
as a result of a default on a loan agreement by a third party and was valued at $20 million on that date for
accounting purposes which exactly offset the defaulted loan. The property is in a state of disrepair and Ryder
intends to complete the repairs before it sells the property. The repairs were completed on 30 November 2005.
The property was sold after costs for $27 million on 9 December 2005. The property was classified as ‘held for
sale’ at the year end under IFRS5 ‘Non-current Assets Held for Sale and Discontinued Operations’ but shown at
the net sale proceeds of $27 million. Property is depreciated at 5% per annum on the straight-line basis and no
depreciation has been charged in the year. (5 marks)
(v) The company granted share appreciation rights (SARs) to its employees on 1 November 2003 based on ten
million shares. The SARs provide employees at the date the rights are exercised with the right to receive cash
equal to the appreciation in the company’s share price since the grant date. The rights vested on 31 October
2005 and payment was made on schedule on 1 December 2005. The fair value of the SARs per share at
31 October 2004 was $6, at 31 October 2005 was $8 and at 1 December 2005 was $9. The company has
recognised a liability for the SARs as at 31 October 2004 based upon IFRS2 ‘Share-based Payment’ but the
liability was stated at the same amount at 31 October 2005. (5 marks)
Required:
Discuss the accounting treatment of the above events in the financial statements of the Ryder Group for the year
ended 31 October 2005, taking into account the implications of events occurring after the balance sheet date.
(The mark allocations are set out after each paragraph above.)
(25 marks)
正确答案：
4 (i) Proposed dividend
The dividend was proposed after the balance sheet date and the company, therefore, did not have a liability at the balance
sheet date. No provision for the dividend should be recognised. The approval by the directors and the shareholders are
enough to create a valid expectation that the payment will be made and give rise to an obligation. However, this occurred
after the current year end and, therefore, will be charged against the profits for the year ending 31 October 2006.
The existence of a good record of dividend payments and an established dividend policy does not create a valid expectation
or an obligation. However, the proposed dividend will be disclosed in the notes to the financial statements as the directors
approved it prior to the authorisation of the financial statements.
(ii) Disposal of subsidiary
It would appear that the loss on the sale of the subsidiary provides evidence that the value of the consolidated net assets of
the subsidiary was impaired at the year end as there has been no significant event since 31 October 2005 which would have
caused the reduction in the value of the subsidiary. The disposal loss provides evidence of the impairment and, therefore,
the value of the net assets and goodwill should be reduced by the loss of $9 million plus the loss ($2 million) to the date of
the disposal, i.e. $11 million. The sale provides evidence of a condition that must have existed at the balance sheet date
(IAS10). This amount will be charged to the income statement and written off goodwill of $12 million, leaving a balance of
$1 million on that account. The subsidiary’s assets are impaired because the carrying values are not recoverable. The net
assets and goodwill of Krup would form. a separate income generating unit as the subsidiary is being disposed of before the
financial statements are authorised. The recoverable amount will be the sale proceeds at the date of sale and represents the
value-in-use to the group. The impairment loss is effectively taking account of the ultimate loss on sale at an earlier point in
time. IFRS5, ‘Non-current assets held for sale and discontinued operations’, will not apply as the company had no intention
of selling the subsidiary at the year end. IAS10 would require disclosure of the disposal of the subsidiary as a non-adjusting
event after the balance sheet date.
(iii) Issue of ordinary shares
IAS33 ‘Earnings per share’ states that if there is a bonus issue after the year end but before the date of the approval of the
financial statements, then the earnings per share figure should be based on the new number of shares issued. Additionally
a company should disclose details of all material ordinary share transactions or potential transactions entered into after the
balance sheet date other than the bonus issue or similar events (IAS10/IAS33). The principle is that if there has been a
change in the number of shares in issue without a change in the resources of the company, then the earnings per share
calculation should be based on the new number of shares even though the number of shares used in the earnings per share
calculation will be inconsistent with the number shown in the balance sheet. The conditions relating to the share issue
(contingent) have been met by the end of the period. Although the shares were issued after the balance sheet date, the issue
of the shares was no longer contingent at 31 October 2005, and therefore the relevant shares will be included in the
computation of both basic and diluted EPS. Thus, in this case both the bonus issue and the contingent consideration issue
should be taken into account in the earnings per share calculation and disclosure made to that effect. Any subsequent change
in the estimate of the contingent consideration will be adjusted in the period when the revision is made in accordance with
IAS8.
Additionally IFRS3 ‘Business Combinations’ requires the fair value of all types of consideration to be reflected in the cost of
the acquisition. The contingent consideration should be included in the cost of the business combination at the acquisition
date if the adjustment is probable and can be measured reliably. In the case of Metalic, the contingent consideration has
been paid in the post-balance sheet period and the value of such consideration can be determined ($11 per share). Thus
an accurate calculation of the goodwill arising on the acquisition of Metalic can be made in the period to 31 October 2005.
Prior to the issue of the shares on 12 November 2005, a value of $10 per share would have been used to value the
contingent consideration. The payment of the contingent consideration was probable because the average profits of Metalic
averaged over $7 million for several years. At 31 October 2005 the value of the contingent shares would be included in a
separate category of equity until they were issued on 12 November 2005 when they would be transferred to the share capital
and share premium account. Goodwill will increase by 300,000 x ($11 – $10) i.e. $300,000.
(iv) Property
IFRS5 (paragraph 7) states that for a non-current asset to be classified as held for sale, the asset must be available for
immediate sale in its present condition subject to the usual selling terms, and its sale must be highly probable. The delay in
this case in the selling of the property would indicate that at 31 October 2005 the property was not available for sale. The
property was not to be made available for sale until the repairs were completed and thus could not have been available for
sale at the year end. If the criteria are met after the year end (in this case on 30 November 2005), then the non-current
asset should not be classified as held for sale in the previous financial statements. However, disclosure of the event should
be made if it meets the criteria before the financial statements are authorised (IFRS5 paragraph 12). Thus in this case,
disclosure should be made.
The property on the application of IFRS5 should have been carried at the lower of its carrying amount and fair value less
costs to sell. However, the company has simply used fair value less costs to sell as the basis of valuation and shown the
property at $27 million in the financial statements.
The carrying amount of the property would have been $20 million less depreciation $1 million, i.e. $19 million. Because
the property is not held for sale under IFRS5, then its classification in the balance sheet will change and the property will be
valued at $19 million. Thus the gain of $7 million on the wrong application of IFRS5 will be deducted from reserves, and
the property included in property, plant and equipment. Total equity will therefore be reduced by $8 million.
(v) Share appreciation rights
IFRS2 ‘Share-based payment’ (paragraph 30) requires a company to re-measure the fair value of a liability to pay cash-settled
share based payment transactions at each reporting date and the settlement date, until the liability is settled. An example of
such a transaction is share appreciation rights. Thus the company should recognise a liability of ($8 x 10 million shares),
i.e. $80 million at 31 October 2005, the vesting date. The liability recognised at 31 October 2005 was in fact based on the
share price at the previous year end and would have been shown at ($6 x 1/2) x 10 million shares, i.e. $30 million. This
liability at 31 October 2005 had not been changed since the previous year end by the company. The SARs vest over a twoyear
period and thus at 31 October 2004 there would be a weighting of the eventual cost by 1 year/2 years. Therefore, an
additional liability and expense of $50 million should be accounted for in the financial statements at 31 October 2005. The
SARs would be settled on 1 December 2005 at $9 x 10 million shares, i.e. $90 million. The increase in the value of the
SARs since the year end would not be accrued in the financial statements but charged to profit or loss in the year ended31 October 2006. -
第3题：
3 You are the manager responsible for the audit of Volcan, a long-established limited liability company. Volcan operates
a national supermarket chain of 23 stores, five of which are in the capital city, Urvina. All the stores are managed in
the same way with purchases being made through Volcan’s central buying department and product pricing, marketing,
advertising and human resources policies being decided centrally. The draft financial statements for the year ended
31 March 2005 show revenue of $303 million (2004 – $282 million), profit before taxation of $9·5 million (2004
– $7·3 million) and total assets of $178 million (2004 – $173 million).
The following issues arising during the final audit have been noted on a schedule of points for your attention:
(a) On 1 May 2005, Volcan announced its intention to downsize one of the stores in Urvina from a supermarket to
a ‘City Metro’ in response to a significant decline in the demand for supermarket-style. shopping in the capital.
The store will be closed throughout June, re-opening on 1 July 2005. Goodwill of $5·5 million was recognised
three years ago when this store, together with two others, was bought from a national competitor. It is Volcan’s
policy to write off goodwill over five years. (7 marks)
Required:
For each of the above issues:
(i) comment on the matters that you should consider; and
(ii) state the audit evidence that you should expect to find,
in undertaking your review of the audit working papers and financial statements of Volcan for the year ended
31 March 2005.
NOTE: The mark allocation is shown against each of the three issues.
正确答案：
3 VOLCAN
(a) Store impairment
(i) Matters
■ Materiality
? The cost of goodwill represents 3·1% of total assets and is therefore material.
? However, after three years the carrying amount of goodwill ($2·2m) represents only 1·2% of total assets –
and is therefore immaterial in the context of the balance sheet.
? The annual amortisation charge ($1·1m) represents 11·6% profit before tax (PBT) and is therefore also
material (to the income statement).
? The impact of writing off the whole of the carrying amount would be material to PBT (23%).
Tutorial note: The temporary closure of the supermarket does not constitute a discontinued operation under IFRS 5
‘Non-Current Assets Held for Sale and Discontinued Operations’.
■ Under IFRS 3 ‘Business Combinations’ Volcan should no longer be writing goodwill off over five years but
subjecting it to an annual impairment test.
■ The announcement is after the balance sheet date and is therefore a non-adjusting event (IAS 10 ‘Events After the
Balance Sheet Date’) insofar as no provision for restructuring (for example) can be made.
■ However, the event provides evidence of a possible impairment of the cash-generating unit which is this store and,
in particular, the value of goodwill assigned to it.
■ If the carrying amount of goodwill ($2·2m) can be allocated on a reasonable and consistent basis to this and the
other two stores (purchased at the same time) Volcan’s management should have applied an impairment test to
the goodwill of the downsized store (this is likely to show impairment).
■ If more than 22% of goodwill is attributable to the City Metro store – then its write-off would be material to PBT
(22% × $2·2m ÷ $9·5m = 5%).
■ If the carrying amount of goodwill cannot be so allocated; the impairment test should be applied to the
cash-generating unit that is the three stores (this may not necessarily show impairment).
■ Management should have considered whether the other four stores in Urvina (and elsewhere) are similarly
impaired.
■ Going concern is unlikely to be an issue unless all the supermarkets are located in cities facing a downward trend
in demand.
Tutorial note: Marks will be awarded for stating the rules for recognition of an impairment loss for a cash-generating
unit. However, as it is expected that the majority of candidates will not deal with this matter, the rules of IAS 36 are
not reproduced here.
(ii) Audit evidence
■ Board minutes approving the store’s ‘facelift’ and documenting the need to address the fall in demand for it as a
supermarket.
■ Recomputation of the carrying amount of goodwill (2/5 × $5·5m = $2·2m).
■ A schedule identifying all the assets that relate to the store under review and the carrying amounts thereof agreed
to the underlying accounting records (e.g. non-current asset register).
■ Recalculation of value in use and/or fair value less costs to sell of the cash-generating unit (i.e. the store that is to
become the City Metro, or the three stores bought together) as at 31 March 2005.
Tutorial note: If just one of these amounts exceeds carrying amount there will be no impairment loss. Also, as
there is a plan NOT to sell the store it is most likely that value in use should be used.
■ Agreement of cash flow projections (e.g. to approved budgets/forecast revenues and costs for a maximum of five
years, unless a longer period can be justified).
■ Written management representation relating to the assumptions used in the preparation of financial budgets.
■ Agreement that the pre-tax discount rate used reflects current market assessments of the time value of money (and
the risks specific to the store) and is reasonable. For example, by comparison with Volcan’s weighted average cost
of capital.
■ Inspection of the store (if this month it should be closed for refurbishment).
■ Revenue budgets and cash flow projections for:
– the two stores purchased at the same time;
– the other stores in Urvina; and
– the stores elsewhere.
Also actual after-date sales by store compared with budget. -
第4题：
共用题干
第二篇
The National Trust in Britain plays an increasingly important part in the preservation for public enjoyment of the best that is left unspoiled of the British countryside.Although the Trust has received practical and moral support from the Government,it is not rich Government department.It is a charity which depends for its existence on voluntary support from members of the public.
The attention of the public was first drawn to the dangers threatening the great old houses and castles of Britain by the death of Lord Lothian,who left his great seventeenth-century house to the Trust together with the 4,500-acre park and estate surrounding it. This gift attracted wide publicity and started the Trust's"Country House Scheme".Under this scheme,with the help of the Government and the general public,the Trust has been able to save and open to the public about one hundred and fifty of these old houses.Last year about one and three quarters of a million people paid to visit these historic houses,usually at a very small charge.
In addition to country houses and open spaces,the Trust now owns some examples of ancient wind and water mills,nature reserves,five hundred and forty farms and nearly two thousand five hundred cottages or small village houses,as well as some complete villages.In these villages no one is allowed to build,develop or disturb the old village environment in any way and all the houses are maintained in their original sixteenth-century style.Over four hundred thousand acres of coastline, woodland,and hill country are protected by the Trust and no development or disturbance of any kind are permitted.The public has free access to these areas and is only asked to respect the peace, beauty and wildlife.
So it is that over the past eighty years the Trust has become a big important organization and an essential and respected part of national life,preserving all that is of great natural beauty and of historical significance not only for future generations of Britons but also for the millions of tourists who each year invade Britain in search of a great historical and cultural heritage.The National Trust is________.
A:a rich government department
B:a charity supported mainly by the public
C:a group of areas of great natural beauty
D:an organization supported by public taxes答案：B解析：事实细节题。从文章第一段最后一句可找到答案。选项A显然与原文意思相反，选项C和D则无原文依据。
推理判断题。第二段第二句表明罗西亚勋爵捐赠了他的房产后，这个计划才启动起来，因此选项C正确，也由此可以否定选项A。根据第二段最后两句可知这个计划是为了保护具有历史价值的房子，而不仅仅是为了保护罗西亚勋爵的房子，因此选项D不对。
事实细节题。最后一段从preserving开始的部分指出了本题的答案。第三段倒数第二句中的“…no development or disturbances of any kind are permitted.”可帮助排除选项A，选项C内容不完整，选项D中的限制词primarily使用不妥，无原文依据。
词义推断题。由invade所在的文章最后一句“.for the millions of tourists who each year invade...”可知这是托管会保护自然美景和历史圣地的原因所在。从而可推断出invade强调来英国游玩的游客数量之多，因此选项C为正确答案。
主旨大意题。综观全文可发现the National Trust和the Trust在文章开头以及文中反复出现。本文是一篇说明文，主要目的是介绍 the National Trust的机构性质及其功能，因此选项A正确。文章未讨论托管会的成员问题，因此选项B不正确。最后两段虽然提到英国的景色很美，但这并非文章的主要思想，因此选项C不对。本题最具干扰性的是选项 D，但是本文并不是一篇议论文，其目的不是让读者认同其中的观点，文章更多的是用说明性的语言来说明托管会的一些做法。 -
第5题：
共用题干
第一篇
The National Trust
The National Trust in Britain plays an increasingly important part in the preservation for public enjoyment of the best that is left unspoiled of the British countryside.Although the Trust has received practical and moral support from the Government,it is not a rich government department.It is a voluntary association of people who care for the unspoiled countryside and historic buildings of Britain.It is a charity which depends for its existence on voluntary support from members of the public.Its primary duty is to protect places of great natural beauty and places of historical interest.
The attention of the public was first drawn to the dangers threatening the great old houses and castles of Britain by the death of Lord Lothian,who left his great seventeenth-century house to the Trust together with the 4,500-acre park and estate surrounding it.This gift attracted wide publicity and started the Trust'5 "Country House Scheme".Under this scheme,with the help of the Government and the general public,the Trust has been able to save and make accessible to the public about 150 of these old houses.Last year,about 1.75 million people paid to visit these historic houses,usually at a very small charge.
In addition to country houses and open spaces,the Trust now owns some examples of ancient wind and water mills,nature reserves,540 farms and nearly 2,500 cottages or small village houses,as well as some complete villages.In these villages no one is allowed to build,develop or disturb the old village environment in any way and all the houses are maintained in their original 16th century style.Over 4,000 acres of coastline,woodland, and hill country are protected by the Trust and no development or disturbances of any kind are permitted.The public has free access to these areas and is only asked to respect the peace,beauty and wildlife.
Over the past 80 years the Trust has become a big and important organization and an essential and respected part of national life.It helps to preserve all that is of great natural beauty and of historical significance not only for future generations of Britons but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.The word"invade"in Paragraph 4 is closest in meaning to_______.
A:come in without permission
B:enter with invitation
C:visit in large numbers
D:appear all of a sudden答案：C解析：本文主要讲述了英国非盈利性组织Trust（国家托管委员会）对英国未遭破坏的乡村和历乡上著名建筑的保护，使人们能够通过参观和游览这些地方领略英国的历史和文化传统。
由文章第一段第三句和第四句话“It is a voluntary association of people...It is a charity which depends for its existence on voluntary support from members of the public.”可知，Trust是英国的非盈利性组织……它是-个慈善机构，靠公众自愿支持它才得以生存。故选B。
由文章第-段第-句、第三句和最后-句话可知，Trust的主要职责是保护英国保存完好的乡村遗迹和具有历史意义的建筑。故选D。
由文章第二段Lord Lothian 去世后，把他名下的17世纪的房子、城堡、公园以及周围的庄园捐献给Trust，此事大大地吸引了公众的注意力，同时使Trust开始实行“乡村房屋计划”，可以推测出Lord Lothian 在他所生活的时代具有-定的影响力。故选D。
由文章第二段最后-句话可知选项B说法正确，由文章第三段最后-句话可知选项C说法正确，由文章最后一段第-句话可知选项D说法正确。从文章中无法推断Trust在保护16世纪的房子方面更感兴趣。故选A。
由文章最后-段中“…but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.”可知，每年涌入英国的数百万游客能领略到英国的历史和文化传统。"invade”在这里是“涌入”的意思。故选C。 -
第6题：
共用题干
第一篇
The National Trust
The National Trust in Britain plays an increasingly important part in the preservation for public enjoyment of the best that is left unspoiled of the British countryside.Although the Trust has received practical and moral support from the Government,it is not a rich government department.It is a voluntary association of people who care for the unspoiled countryside and historic buildings of Britain.It is a charity which depends for its existence on voluntary support from members of the public.Its primary duty is to protect places of great natural beauty and places of historical interest.
The attention of the public was first drawn to the dangers threatening the great old houses and castles of Britain by the death of Lord Lothian,who left his great seventeenth-century house to the Trust together with the 4,500-acre park and estate surrounding it.This gift attracted wide publicity and started the Trust'5 "Country House Scheme".Under this scheme,with the help of the Government and the general public,the Trust has been able to save and make accessible to the public about 150 of these old houses.Last year,about 1.75 million people paid to visit these historic houses,usually at a very small charge.
In addition to country houses and open spaces,the Trust now owns some examples of ancient wind and water mills,nature reserves,540 farms and nearly 2,500 cottages or small village houses,as well as some complete villages.In these villages no one is allowed to build,develop or disturb the old village environment in any way and all the houses are maintained in their original 16th century style.Over 4,000 acres of coastline,woodland, and hill country are protected by the Trust and no development or disturbances of any kind are permitted.The public has free access to these areas and is only asked to respect the peace,beauty and wildlife.
Over the past 80 years the Trust has become a big and important organization and an essential and respected part of national life.It helps to preserve all that is of great natural beauty and of historical significance not only for future generations of Britons but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.The National Trust is dedicated to________
A:preserving the best public enjoyment
B:providing the public with free access to historic buildings
C:offering better services to visitors home and abroad
D:protecting the unspoiled countryside and historic buildings答案：D解析：本文主要讲述了英国非盈利性组织Trust（国家托管委员会）对英国未遭破坏的乡村和历乡上著名建筑的保护，使人们能够通过参观和游览这些地方领略英国的历史和文化传统。
由文章第一段第三句和第四句话“It is a voluntary association of people...It is a charity which depends for its existence on voluntary support from members of the public.”可知，Trust是英国的非盈利性组织……它是-个慈善机构，靠公众自愿支持它才得以生存。故选B。
由文章第-段第-句、第三句和最后-句话可知，Trust的主要职责是保护英国保存完好的乡村遗迹和具有历史意义的建筑。故选D。
由文章第二段Lord Lothian 去世后，把他名下的17世纪的房子、城堡、公园以及周围的庄园捐献给Trust，此事大大地吸引了公众的注意力，同时使Trust开始实行“乡村房屋计划”，可以推测出Lord Lothian 在他所生活的时代具有-定的影响力。故选D。
由文章第二段最后-句话可知选项B说法正确，由文章第三段最后-句话可知选项C说法正确，由文章最后一段第-句话可知选项D说法正确。从文章中无法推断Trust在保护16世纪的房子方面更感兴趣。故选A。
由文章最后-段中“…but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.”可知，每年涌入英国的数百万游客能领略到英国的历史和文化传统。"invade”在这里是“涌入”的意思。故选C。 -
第7题：
The authorities approved the new round of local infrastructure development.A:author
B:authentication
C:authorizer
D:government答案：D解析：当局批准了新一轮地方基础设施建设。author“作者”，如：Hemingway is the author of many great books．海明威著有很多经典作品。authentication“鉴定，认证”，如：All the antiques have gone through authentication.所有的古董都已通过鉴定。authorizer“授权人”，如： The authorizer of this document is Chairman of the company．这个文件的授权人是公司董事长。 government“政府，当局”，如：Government announced a new policy on real estate development．政府公布了关于房地产开发的一项新政策。只有government意思上和authorities最接近。 -
第8题：
Which of the following is not necessary to consider when surveying a potential site? （）
- A、Space for antennas
- B、Frequency allocation
- C、Electrical power availability
- D、Permission/Contract with owner
- E、Availability of PCM link to the BSC
正确答案:B -
第9题：
Which of these is an accurate list of Cisco Lifecycle Services phases？ Select exactly 1 answer（s） from the following：（）。
- A、initiation planning analysis design development implementation operations and maintenance
- B、project planning， site assessment risk assessment solution selection and acquisition， testing， and operations
- C、prepare， plan， design， implement operate， and optimize
- D、analysis， design， deployment testing， implementation， and production
- E、presales， project planning， development implementation， operations testing， and operations sign- off
正确答案:C -
第10题：
问答题Practice 9 The National Trust in Britain plays an increasingly important part in the preservation for public enjoyment of the best that is left unspoiled of the British countryside. Although the Trust has received practical and moral support from the Government, it is not a rich government department. It is a voluntary association of people who care for the unspoiled countryside and historic buildings of Britain. It is a charity which depends for its existence on voluntary support from members of the public. Its primary duty is to protect places of great natural beauty and places of historical interest. The attention of the public was first drawn to the dangers threatening the great old houses and castles of Britain by the death of Lord Lothian, who left his great seventeenth-century house to the Trust together with the 4500 acre park and estate surrounding it. This gift attracted wide publicity and started the Trust’s “Country House Scheme”. Under this scheme, with the help of the Government and the general public, the Trust has been able to save and make accessible to the public about 150 of these old houses. Last year, about 1.75 million people paid to visit these historic houses, usually at a very small charge. In addition to country houses and open spaces, the Trust now owns some examples of ancient wind and water mills, nature reserves, 540 farms and nearly 2500 cottages or small village houses, as well as some complete villages. In these villages no one is allowed to build, develop or disturb the old village environment in any way and all the houses are maintained in their original 16th century style. Over4000 acres of coastline, woodland, and hill country are protected by the Trust and no development or disturbances of any kind are permitted. The public has free access to these areas and is only asked to respect the peace, beauty and wildlife. Over the past 80 years the Trust has become a big and important organization and an essential and respected part of national life. It helps to preserve all that is of great natural beauty and of historical significance not only for future generations of Britons but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.正确答案：
【参考译文】
在英国,国家信托管委会在保护英国农村未被破坏的大众景点的作用越来越重要了。尽管信托管委会收到了政府的实际支持和道义支持,但它在政府部门中并不富有。这是一个志愿者组织,由那些关心英国未破坏的乡村和历史建筑的人们组成。它是一个慈善组织,它的存活与否取决于大众的支持。它最基本的职责是保护美丽的自然景观和名胜古迹。
公众首先注意到的是英国的古老房屋和城堡,它们因为洛锡安勋爵的去世而面临威胁。勋爵把他这所十七世纪的古建筑给了信托管委会,连带它周围4500英亩的公园和地产。这个礼物引起了广泛关注并且建立了信托管委会“乡村别墅方案”。在此方案下,加上政府和群众的帮助,信托管委会得以保护并向大众开放大约150座这种老房子。去年,有七十五万人付费参观这些有历史气息的老房子,门票价格很低。
加上郊区住宅和开放空间,信托管委会现在拥有了古代风水的样本,自然保护区,540个农场,还有差不多2500座村舍和小别墅。在这些山村里不能用任何方式修建,改造或是妨碍古老的山村环境,所有的房子都保持着原本十六世纪的风格。信托管委会保护着超过40万英亩的海岸、林地和丘陵,不允许任何形式的发展和破坏。公众可以免费去这些地方参观,只要他们能尊重这个地方的自然景观和野生动植物。
因此,自从八十年代以来,信托管委会已经成为了一个重大而庞大的组织,是国民生活中重要而值得尊敬的一部分。保留自然之美和历史建筑不仅对英国下一代,对那些每年来英国寻找伟大的历史和文化遗产的游客们也有着重大的意义。解析： 暂无解析 -
第11题：
单选题The municipal government _____ heavy responsibilities for the urban planning and development.Atolerates
Bendures
Cwithstands
Dbears
正确答案： A解析：
句意：市政府对城市规划和发展负有重大责任。这四个词都有“忍受”的意思，但bear意义最多，此句中的含义是“承担，对……负责”。 -
第12题：
单选题You are loading a new assembly into an application. You need to override the default evidence for the assembly. You require the common language runtime （CLR） to grant the assembly a permission set，as if the assembly were loaded from the local intranet zone. You need to build the evidence collection. Which code segment should you use？（）AA
BB
CC
DD
正确答案： B解析： 暂无解析 -
第13题：
Additionally the directors wish to know how the provision for deferred taxation would be calculated in the following
situations under IAS12 ‘Income Taxes’:
(i) On 1 November 2003, the company had granted ten million share options worth $40 million subject to a two
year vesting period. Local tax law allows a tax deduction at the exercise date of the intrinsic value of the options.
The intrinsic value of the ten million share options at 31 October 2004 was $16 million and at 31 October 2005
was $46 million. The increase in the share price in the year to 31 October 2005 could not be foreseen at
31 October 2004. The options were exercised at 31 October 2005. The directors are unsure how to account
for deferred taxation on this transaction for the years ended 31 October 2004 and 31 October 2005.
(ii) Panel is leasing plant under a finance lease over a five year period. The asset was recorded at the present value
of the minimum lease payments of $12 million at the inception of the lease which was 1 November 2004. The
asset is depreciated on a straight line basis over the five years and has no residual value. The annual lease
payments are $3 million payable in arrears on 31 October and the effective interest rate is 8% per annum. The
directors have not leased an asset under a finance lease before and are unsure as to its treatment for deferred
taxation. The company can claim a tax deduction for the annual rental payment as the finance lease does not
qualify for tax relief.
(iii) A wholly owned overseas subsidiary, Pins, a limited liability company, sold goods costing $7 million to Panel on
1 September 2005, and these goods had not been sold by Panel before the year end. Panel had paid $9 million
for these goods. The directors do not understand how this transaction should be dealt with in the financial
statements of the subsidiary and the group for taxation purposes. Pins pays tax locally at 30%.
(iv) Nails, a limited liability company, is a wholly owned subsidiary of Panel, and is a cash generating unit in its own
right. The value of the property, plant and equipment of Nails at 31 October 2005 was $6 million and purchased
goodwill was $1 million before any impairment loss. The company had no other assets or liabilities. An
impairment loss of $1·8 million had occurred at 31 October 2005. The tax base of the property, plant and
equipment of Nails was $4 million as at 31 October 2005. The directors wish to know how the impairment loss
will affect the deferred tax provision for the year. Impairment losses are not an allowable expense for taxation
purposes.
Assume a tax rate of 30%.
Required:
(b) Discuss, with suitable computations, how the situations (i) to (iv) above will impact on the accounting for
deferred tax under IAS12 ‘Income Taxes’ in the group financial statements of Panel. (16 marks)
(The situations in (i) to (iv) above carry equal marks)
正确答案：(b) (i) The tax deduction is based on the option’s intrinsic value which is the difference between the market price and exercise
price of the share option. It is likely that a deferred tax asset will arise which represents the difference between the tax
base of the employee’s service received to date and the carrying amount which will effectively normally be zero.
The recognition of the deferred tax asset should be dealt with on the following basis:
(a) if the estimated or actual tax deduction is less than or equal to the cumulative recognised expense then the
associated tax benefits are recognised in the income statement
(b) if the estimated or actual tax deduction exceeds the cumulative recognised compensation expense then the excess
tax benefits are recognised directly in a separate component of equity.
As regards the tax effects of the share options, in the year to 31 October 2004, the tax effect of the remuneration expensewill be in excess of the tax benefit.
The company will have to estimate the amount of the tax benefit as it is based on the share price at 31 October 2005.
The information available at 31 October 2004 indicates a tax benefit based on an intrinsic value of $16 million.
As a result, the tax benefit of $2·4 million will be recognised within the deferred tax provision. At 31 October 2005,
the options have been exercised. Tax receivable will be 30% x $46 million i.e. $13·8 million. The deferred tax asset
of $2·4 million is no longer recognised as the tax benefit has crystallised at the date when the options were exercised.
For a tax benefit to be recognised in the year to 31 October 2004, the provisions of IAS12 should be complied with as
regards the recognition of a deferred tax asset.
(ii) Plant acquired under a finance lease will be recorded as property, plant and equipment and a corresponding liability for
the obligation to pay future rentals. Rents payable are apportioned between the finance charge and a reduction of the
outstanding obligation. A temporary difference will effectively arise between the value of the plant for accounting
purposes and the equivalent of the outstanding obligation as the annual rental payments qualify for tax relief. The tax
base of the asset is the amount deductible for tax in future which is zero. The tax base of the liability is the carrying
amount less any future tax deductible amounts which will give a tax base of zero. Thus the net temporary differencewill be:
(iii) The subsidiary, Pins, has made a profit of $2 million on the transaction with Panel. These goods are held in inventory
at the year end and a consolidation adjustment of an equivalent amount will be made against profit and inventory. Pins
will have provided for the tax on this profit as part of its current tax liability. This tax will need to be eliminated at the
group level and this will be done by recognising a deferred tax asset of $2 million x 30%, i.e. $600,000. Thus any
consolidation adjustments that have the effect of deferring or accelerating tax when viewed from a group perspective will
be accounted for as part of the deferred tax provision. Group profit will be different to the sum of the profits of the
individual group companies. Tax is normally payable on the profits of the individual companies. Thus there is a need
to account for this temporary difference. IAS12 does not specifically address the issue of which tax rate should be used
calculate the deferred tax provision. IAS12 does generally say that regard should be had to the expected recovery or
settlement of the tax. This would be generally consistent with using the rate applicable to the transferee company (Panel)
rather than the transferor (Pins).
-
第14题：
(b) GHG has always used local labour to build and subsequently operate hotels. The directors of GHG are again
considering employing a local workforce not only to build the hotel but also to operate it on a daily basis.
Required:
Explain TWO ways in which the possibility of cultural differences might impact on the performance of a local
workforce in building and operating a hotel in Tomorrowland. (6 marks)
正确答案：
(b) The directors of GHG should be mindful that the effectiveness of a locally employed workforce within Tomorrowland will be
influenced by a number of factors including the following:
The availability of local skills
If Tomorrowland is a lower wage economy it is quite conceivable that a sufficient number of employees possessing the
requisite skills to undertake the construction of a large hotel cannot be found. If there are insufficient local resources then this
would necessitate the training of employees in all aspects of building construction. This will incur significant costs and time
and needs to be reflected in any proposed timetable for construction of the hotel. As far as the operation of the hotel is
concerned then staff will have to be recruited and trained which will again give rise to significant start-up costs. However, this
should not present the directors of GHG with such a major problem as that of training construction staff. Indeed, it is highly
probable that GHG would use its own staff in order to train new recruits.
Attitudes to work
The prevailing culture within Tomorrowland will have a profound impact on attitudes to work of its population. Attitudes to
hours of work, timekeeping and absenteeism vary from culture to culture. For example, as regards hours of work in the
construction industry in countries which experience very hot climates, work is often suspended during the hottest part of each
day and recommenced several hours later when temperatures are much cooler. The directors of GHG need to recognise that
climatic conditions not only affect the design of a building but also its construction.
A potentially sensitive issue within regarding the use of local labour in the construction of the hotel lies in the fact that national
holidays and especially religious holidays need to be observed and taken into consideration in any proposed timetable for
construction of the hotel. As regards the operation of a hotel then consideration needs to be given to the different cultures
from which the guests come. For example, this will require a detailed consideration of menus to be offered. However, it might
well be the case that the local population might be unwilling to prepare dishes comprising ingredients which are unacceptable
to their culture due to, for example, religious beliefs.
(Note: other relevant factors would be acceptable.) -
第15题：
Why must local government keep his or her doors to every visitor ?()A.Economic development depends on it.
B.The central government forces them to do that.
C.In order to let more people enjoy the beauty of the sites.
D.They are friendly and hospitable.
正确答案:A
-
第16题：
Which site did Ms. Dorn most enjoy?A.The Valley of the Kings
B.The Nile River
C.The city of Cario
D.The pyramids of Giza答案：A解析：第二段最后两句表示特别地感谢“Mokhtar Said”，同时提到和他一起到帝王谷旅行最棒。 -
第17题：
共用题干
第一篇
The National Trust
The National Trust in Britain plays an increasingly important part in the preservation for public enjoyment of the best that is left unspoiled of the British countryside.Although the Trust has received practical and moral support from the Government,it is not a rich government department.It is a voluntary association of people who care for the unspoiled countryside and historic buildings of Britain.It is a charity which depends for its existence on voluntary support from members of the public.Its primary duty is to protect places of great natural beauty and places of historical interest.
The attention of the public was first drawn to the dangers threatening the great old houses and castles of Britain by the death of Lord Lothian,who left his great seventeenth-century house to the Trust together with the 4,500-acre park and estate surrounding it.This gift attracted wide publicity and started the Trust'5 "Country House Scheme".Under this scheme,with the help of the Government and the general public,the Trust has been able to save and make accessible to the public about 150 of these old houses.Last year,about 1.75 million people paid to visit these historic houses,usually at a very small charge.
In addition to country houses and open spaces,the Trust now owns some examples of ancient wind and water mills,nature reserves,540 farms and nearly 2,500 cottages or small village houses,as well as some complete villages.In these villages no one is allowed to build,develop or disturb the old village environment in any way and all the houses are maintained in their original 16th century style.Over 4,000 acres of coastline,woodland, and hill country are protected by the Trust and no development or disturbances of any kind are permitted.The public has free access to these areas and is only asked to respect the peace,beauty and wildlife.
Over the past 80 years the Trust has become a big and important organization and an essential and respected part of national life.It helps to preserve all that is of great natural beauty and of historical significance not only for future generations of Britons but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.We can infer from Paragraph 2 that Lord Lothian_______.
A:donated all his money to the Trust
B:started the"Country House Scheme"
C:saved many old country houses in Britain
D:was influential in his time答案：D解析：本文主要讲述了英国非盈利性组织Trust（国家托管委员会）对英国未遭破坏的乡村和历乡上著名建筑的保护，使人们能够通过参观和游览这些地方领略英国的历史和文化传统。
由文章第一段第三句和第四句话“It is a voluntary association of people...It is a charity which depends for its existence on voluntary support from members of the public.”可知，Trust是英国的非盈利性组织……它是-个慈善机构，靠公众自愿支持它才得以生存。故选B。
由文章第-段第-句、第三句和最后-句话可知，Trust的主要职责是保护英国保存完好的乡村遗迹和具有历史意义的建筑。故选D。
由文章第二段Lord Lothian 去世后，把他名下的17世纪的房子、城堡、公园以及周围的庄园捐献给Trust，此事大大地吸引了公众的注意力，同时使Trust开始实行“乡村房屋计划”，可以推测出Lord Lothian 在他所生活的时代具有-定的影响力。故选D。
由文章第二段最后-句话可知选项B说法正确，由文章第三段最后-句话可知选项C说法正确，由文章最后一段第-句话可知选项D说法正确。从文章中无法推断Trust在保护16世纪的房子方面更感兴趣。故选A。
由文章最后-段中“…but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.”可知，每年涌入英国的数百万游客能领略到英国的历史和文化传统。"invade”在这里是“涌入”的意思。故选C。 -
第18题：
共用题干
第一篇
The National Trust
The National Trust in Britain plays an increasingly important part in the preservation for public enjoyment of the best that is left unspoiled of the British countryside.Although the Trust has received practical and moral support from the Government,it is not a rich government department.It is a voluntary association of people who care for the unspoiled countryside and historic buildings of Britain.It is a charity which depends for its existence on voluntary support from members of the public.Its primary duty is to protect places of great natural beauty and places of historical interest.
The attention of the public was first drawn to the dangers threatening the great old houses and castles of Britain by the death of Lord Lothian,who left his great seventeenth-century house to the Trust together with the 4,500-acre park and estate surrounding it.This gift attracted wide publicity and started the Trust'5 "Country House Scheme".Under this scheme,with the help of the Government and the general public,the Trust has been able to save and make accessible to the public about 150 of these old houses.Last year,about 1.75 million people paid to visit these historic houses,usually at a very small charge.
In addition to country houses and open spaces,the Trust now owns some examples of ancient wind and water mills,nature reserves,540 farms and nearly 2,500 cottages or small village houses,as well as some complete villages.In these villages no one is allowed to build,develop or disturb the old village environment in any way and all the houses are maintained in their original 16th century style.Over 4,000 acres of coastline,woodland, and hill country are protected by the Trust and no development or disturbances of any kind are permitted.The public has free access to these areas and is only asked to respect the peace,beauty and wildlife.
Over the past 80 years the Trust has become a big and important organization and an essential and respected part of national life.It helps to preserve all that is of great natural beauty and of historical significance not only for future generations of Britons but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.The National Trust is a________
A:government agency depending on voluntary service
B:non-profit organization depending on voluntary service
C:government department but is not rich
D:private organization supported by the government答案：B解析：本文主要讲述了英国非盈利性组织Trust（国家托管委员会）对英国未遭破坏的乡村和历乡上著名建筑的保护，使人们能够通过参观和游览这些地方领略英国的历史和文化传统。
由文章第一段第三句和第四句话“It is a voluntary association of people...It is a charity which depends for its existence on voluntary support from members of the public.”可知，Trust是英国的非盈利性组织……它是-个慈善机构，靠公众自愿支持它才得以生存。故选B。
由文章第-段第-句、第三句和最后-句话可知，Trust的主要职责是保护英国保存完好的乡村遗迹和具有历史意义的建筑。故选D。
由文章第二段Lord Lothian 去世后，把他名下的17世纪的房子、城堡、公园以及周围的庄园捐献给Trust，此事大大地吸引了公众的注意力，同时使Trust开始实行“乡村房屋计划”，可以推测出Lord Lothian 在他所生活的时代具有-定的影响力。故选D。
由文章第二段最后-句话可知选项B说法正确，由文章第三段最后-句话可知选项C说法正确，由文章最后一段第-句话可知选项D说法正确。从文章中无法推断Trust在保护16世纪的房子方面更感兴趣。故选A。
由文章最后-段中“…but also for the millions of tourists who each year invade Britain in search of a great historic and cultural heritage.”可知，每年涌入英国的数百万游客能领略到英国的历史和文化传统。"invade”在这里是“涌入”的意思。故选C。 -
第19题：
Which Cisco access point should be used for a customer site that requests hardware to supportMaximal Ratio Combining indoors？（）
- A、AP1130
- B、AP1242
- C、AP1252
- D、BR1310
正确答案:C -
第20题：
Which two service components are in the plan phase？（）
- A、Proof of Concept
- B、Site Readiness Assessment
- C、Proposal Development
- D、Operations Readiness Assessment
- E、Account planning
正确答案:B,D -
第21题：
You are designing an Active Directory site infrastructure to meet the bussiness and technical requirements. What should you do?（）
- A、Create one site for each office and each local bank.
- B、Create one site for all offices. Create one site for all local banks.
- C、Create one site for Amsterdam. Create one site for all branch office and all local banks.
- D、Create one site for Amsterdam. Create one site for the Utercht brach office. Create one site for that Hague branch office. Place half the local banks in the utercht site and half the local banks in the Hague site.
- E、Create one site for Amsterdam. Create one site for the Utercht brach office. Create one site for each local bank that has more than 50 users. Place all the other local banks in the Amsterdam Site.
正确答案:E -
第22题：
单选题Which of the following statements is TRUE according to the passage?ATo build a structure like the City Hall will cost $2.5 million today.
BThe clock tower stands parallel with the center of the City Hall.
COld City Hall was once pulled down in the development of the city.
DOld City Hall is now a historical site.
正确答案： A解析： -
第23题：
单选题Which of these is an accurate list of Cisco Lifecycle Services phases？ Select exactly 1 answer（s） from the following：（）。Ainitiation planning analysis design development implementation operations and maintenance
Bproject planning， site assessment risk assessment solution selection and acquisition， testing， and operations
Cprepare， plan， design， implement operate， and optimize
Danalysis， design， deployment testing， implementation， and production
Epresales， project planning， development implementation， operations testing， and operations sign- off
正确答案： D解析： 暂无解析