A statistical analysis that combines information f...

A statistic shows that of those that qualify as doctors, ______do not remain in the profession for more than three years.

The balance of payments is a statistical record of all the economic transaction between residents of the reporting country and residents of the rest of the world during a given time period. The usual reporting period for all the statistics included in the accounts is a year. A good or bad set of figures can have an influential effect on the exchange rate and can lead policy makers to change the content of their economic policies. Deficits may lead to the government raising interest rate or reducing public expenditure to reduce expenditure on imports. Alternatively, deficits may lead to calls for protection against foreign imports or capital controls to defend the exchange rate.

A key definition that needs to be resolved at the outset is that of a domestic and foreign resident. It is important to note that citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics. The term residents comprises individuals, households, firms and the public authorities. There are some problems that arise with respect to the definition of a resident. Multinational corporations are by definition resident in more than one country. For the purposes of balance - of - payments reporting the subsidiaries of a multinational are treated as being a resident in the country in which they are located even if their shares are actually owned by domestic residents. Another problem concerns the treatment of international organizations such as the International Monetary Fund, the World Bank, United Nations and so forth. These institutions are treated as being foreign residents even though they may actually be located in the reporting country. For example although the International Monetary Fund is located in Washington, contributions by the US government to the Fund are included in the US balance -of-payments statistics because they are regarded as transactions with a foreign resident. Tourists are regarded as being foreign residents if they stay in the reporting country for less than a year.

The criterion for a transaction to be included in the balance of payments is that it must involve a transaction between a resident of the reporting country and a resident from the rest of the world. Purchases and sales between residents from the same country are excluded.

What is the balance of payments?

A．The balance of payments is a digital table of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

B．The balance of payments is a figured table of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

C．The balance of payments is a statistical record of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

D．The balance of payments is a digital record of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

Survey-Feedback-Action, which offers a statistical measurement of both employee satisfaction and subordinates' opinions of management's leadership performance, is carried out ______.

The answer for preventing you from falling into a state of subhealth is that you should______.

A. work hard

B. sleep more

C. take more medicine

D. be deep relaxed and form. good living habits

英译汉：They suggest that to knowingly give oneself over to a behavior. that has a statistical probability of shortening life is similar to attempting suicide. 

The answer for preventing you from falling into a state of subhealth is that you should______.

A．work hard

B．sleep more

C．take more medicine

D．be deep relaxed and form. good living habits

A statement not made or implied in the text is that

A．attitudes can be based on the learning of untrue statements.

B．worthwhile attitudes may be developed in practically every subject area.

C．attitudes cannot easily be changed by rewards and lectures.

D．the attitudes of elementary school-aged children are influenced primarily by the way they were treated as infants.

According to the last paragraph, "a statistical horse race" most probably means

A．a comparison in statistics.

B．a horse competition.

C．an index of sports industry.

D．a race of mathematics.

According to the passage, a standard economic experience is that______.

A．deficit finance is of value in economic crisis

B．the stock market is in an irrational exuberance

C．markets may fail under some circumstances

D．humans are rational calculators

Gregory Co is a listed company and, until 1 October 20X5, it had no subsidiaries. On that date, it acquired 75% of Tamsin Co’s equity shares by means of a share exchange of two new shares in Gregory Co for every five acquired shares in Tamsin Co. These shares were recorded at the market price on the day of the acquisition and were the only shares issued by Gregory Co during the year ended 31 March 20X6.

The summarised financial statements of Gregory Co as a single entity at 31 March 20X5 and as a group at 31 March 20X6 are:

Other information:

(i) Each month since the acquisition, Gregory Co’s sales to Tamsin Co were consistently $2m. Gregory Co had chosen to only make a gross profit margin of 10% on these sales as Tamsin Co is part of the group.

(ii) The values of property, plant and equipment held by both companies have been rising for several years.

(iii) On reviewing the above financial statements, Gregory Co’s chief executive officer (CEO) made the following observations:

(1) I see the profit for the year has increased by $1m which is up 20% on last year, but I thought it would be more as Tamsin Co was supposed to be a very profitable company.

(2) I have calculated the earnings per share (EPS) for 20X6 at 13 cents (6,000/46,000 x 100) and for 20X5 at 12·5 cents (5,000/40,000 x 100) and, although the profit has increased 20%, our EPS has barely changed.

(3) I am worried that the low price at which we are selling goods to Tamsin Co is undermining our group’s overall profitability.

(4) I note that our share price is now $2·30, how does this compare with our share price immediately before we bought Tamsin Co?

Required: (a) Reply to the four observations of the CEO. (8 marks)

(b) Using the above financial statements, calculate the following ratios for Gregory Co for the years ended 31 March 20X6 and 20X5 and comment on the comparative performance:

(i) Return on capital employed (ROCE)

(ii) Net asset turnover

(iii) Gross profit margin

(iv) Operating profit margin

Note: Four marks are available for the ratio calculations. (12 marks)

Note: Your answers to (a) and (b) should reflect the impact of the consolidation of Tamsin Co during the year ended 31 March 20X6.