Diamond Ltd has a payback period limit of three years and is considering investing in Project Alpha . The project requires an initial investment of $800,000. Cash inflows accrue evenly throughout the

a project. The project’s cash flows accrue evenly throughout the year, and as follows: Year Cash flow $ 0 (800,000) 1 250,000 2 350,000 3 400,000 4 200,000 5 150,000 6 150,000 What is the payback period of this project?

A、2 years and 2 months

B、2 years and 4 months

C、2 years and 5 months

D、2 years and 6 months

72 Which of the following is referred to as payback period:

A. the number of periods required to recover the initial investment

B. the rate of return on the investment

C. the number of periods required to bring project cost back to the original budget, based on current performance

D. loan payment schedule

E. None of the above

Which of the following is referred to as payback period:

A . the number of periods required to recover the initial investment

B . the rate of return on the investment

C . the number of periods required to bring project cost back to the original budget, based on current performance

D . loan payment schedule

E . None of the above

MRTIN LUTHUR KING Jr.－－DVOCTE OF NONVIOLENCEIn 1955, Mrtin Luther King Jr. gined ntiMRTIN LUTHUR KING Jr.--DVOCTE OF NONVIOLENCE In 1955, Mrtin Luther King Jr. gined ntionl recognition for his non-violent methods used in bus boycott in Montgomery. This peceful boycott, under Dr. King’s guidnce, chnged the lw which required blck people to ride in the bck of buses.fter this success, Dr. King used his nonviolent tctics in efforts to chnge other discrimintory lws.ccording to the pssge,s consequence of his protest in 1955, Dr. King becme ______.peceful in his tctics B．fmous in the United Sttes C．frustrted in his efforts D．successful in

A．peaceful in his tactics

B．famous in the United States

C．frustrated in his efforts

D．successful in

The mysterious tiger has been a symbol of power and strength for centuries. Its power is a【56】to hunters,【57】have tried to kill it to prove their own skill and【58】. In India【59】the nineteenth and early twentieth centuries, large parties of【60】from around the world【61】go out on huge tiger hunts. Hundreds of tigers could be killed in a few weeks. As a【62】of this over-hunting,【63】with loss of habitat(栖息地), the population of tigers in India dropped from about 40,000【64】the turn of the twentieth century to about 2,000 by 1972.

With the help of India and other concerned countries, the World Wildlife Fund【65】Operation Tiger in 1972 to save the tiger【66】dying out. Since then, seventeen tiger preserves (保护区) have been【67】, and the tiger population in India has risen to【68】4,000 and 5,000.

But when people live on the【69】of the tiger preserves, tigers sometimes kill their farm animals and attack people--about 600 people in India have been killed by tigers in the last dozen years.【70】tigers do not eat humans. But "old, wounded and homeless" tigers can become habitual (习惯的) man-eaters. In one area in India, villagers have【71】a clever solution. They wire lifelike human dummies (假人) to electricity【72】the tigers get a(n)【73】shock when they attack. It is hoped that in this way tigers will learn to【74】people. But the conflict between human and tiger【75】. Only if people have enough food, shelter and fuel will the tiger survive in the long run. And only if the tiger and its forest survive will people have a natural world they can return to.

(56)

A．succession

B．challenge

C．guarantee

D．intelligence

By giving the elderly greatly increased purchasing power，it would kick-start the economy back prosperity．

A．根据给老人们被极大增加的购买能力，它将启动经济往回走，奔向繁荣。

B．通过提高老年人的购买力这一方法，我们可以使经济恢复繁荣。

C．大幅度提高老年人的购买力，可以让经济复兴。

D．赋予老年人以大大增强的购买力，它将让经济重新开始繁荣。

By giving the elderly greatly increased purchasing power，it would kick-start the economy back prosperity．

A．根据给老人们被极大增加的购买能力，它将启动经济往回走，奔向繁荣。

B．通过提高老年人的购买力这一方法，我们可以使经济恢复繁荣。

C．大幅度提高老年人的购买力，可以让经济复兴。

D．赋予老年人以大大增强的购买力，它将让经济重新开始繁荣。

3 Damian is the finance director of Linden Limited, a medium sized, unquoted, UK trading company, with a 31 July

year end. Damian personally owns 10% of the ordinary issued share capital of Linden Limited, for which he paid

￡10,000 in June 1998. He estimates that the current market value of Linden Limited is ￡9 million and that the

company will make taxable profits of ￡1·4 million in the forthcoming year to 31 July 2007.

(a) Damian believes that Linden Limited should conduct its activities in a socially responsible manner and to this

end has proposed that in future all cars purchased by the company should be low emission vehicles. The sales

director has stated that several of his staff, who are the main recipients of company cars, other than the directors,

are extremely unhappy with this proposal, perceiving it as downgrading their value and status.

The cars currently provided to the sales staff have a list price of ￡19,600, on which Linden Limited receives a

bulk purchase discount of 6% from the dealer, and a CO2 emission rate of 168 grams/kilometre. The company

pays for up to ￡400 of accessories, of the salesmen’s own choice to be fitted to the cars and all of the running

costs, including private petrol. The cars are replaced every three years and the ‘old’ cars are sold at auction,

because they are high mileage vehicles.

The low emission cars it is proposed to purchase will have the same list price as the current cars, but the dealer

is only prepared to offer a bulk discount of 5% on these vehicles. Damian does not propose to make any other

changes to Linden Limited’s company car policy or practice.

Required:

(i) Explain the tax consequences of the proposed move to low emission vehicles for both the individual

salesmen and Linden Limited, illustrating your answer by means of relevant calculations of the tax and

national insurance (NIC) savings arising. (9 marks)

As long as you ______the money back promptly, I'll lend it to you with pleasure.

A．return

B．will return

C．have returned

D．returned

在相同温度下，

    则K_p2等于(  )

  A．K_p1K_p3  B．(K_p3)²/K_p1  C．2K_p1K_p2  D．K_p2/K_p1