A Chinese company intends to set up a sino-foreign...

th a Singapore company in China, the two parties signed agrass contract. The following matters in the contract, which one is allowed by Chineselaw?

A、A、 Registered capital of the joint venture is $MathJax 1,000,000, of which foreign capital accountsfor 22%, and China accountsfor 78%.

B、B、 Foreign party’s investment includes anequipment which is worth of $MathJax 100,000,and would arriveat the enterprise after three months of obtaining the business license.

C、C、 Chinese party invests $MathJax 300,000 in cash which lending from bank, and the joint ventureenterprise providesguaranteewith the equipment.

D、D、 The first five years profit would be distributed as the proportion of 50% eachside.ompany doesnot have social responsibility.

[A] As information is passed around, important qualifiers are lost. A rumour may start as "I'm not sure if this is true, but I heard that..." Then it evolves into: "I heard that..." Finally it becomes: "Did you know that...?" Even when no one intends to spread falsehoods, they spread. [B] IF YOU Google the phrase "Middle East rumours", the first link that pops up is not, as you might expect, a website propagating conspiracy theories. It is Coca-Cola's website. For several years now the company has struggled to rebut ridiculous rumours about its products. [C] Such rebuttals are unwise, argue Derek Rucker and David Dubois, of the Kellogg School of Management, and Zakary Tormala, of Stanford business school, three psychologists. By restating the rumours, Coke helps to propagate them. Its web page is a magnet for search engines. And people who read rebuttals tend to forget the denial and remember only the rumour, says Mr Rucker. [D] Other companies could learn from this. McDonald's hamburgers have been said to contain worm meat, Procter and Gamble is reputed to have Satanic links and Facebook is rumoured to be shutting down so that its founder, Mark Zuckerberg, can have his life back. All these rumours are utterly false, but the firms in question would be well advised not to bother denying them. [E] In several experiments, Mr Rucker and Mr Dubois planted rumours among undergraduates. They found that with each repetition, scepticism diminished. The rumours themselves did not change; only the likelihood that the students would believe them. These findings were published in a report called "The Failure to Transmit Certainty". [F] For example, some people believe that if you read Coke's Arabic logo backwards, it says: "No Muhammad, No Mecca". Others insist that the company is owned by Jews, or that it bankrollsIsrael. These rumours are one reason why Coke does worse than Pepsi in Arab countries. Yet they are all false, as Coke's website explains in painstaking detail. [G] Instead of denying false rumours, a company should put out a stream of positive messages about itself, reckon Mr Rucker and Mr Dubois. This deprives myths of oxygen and also nudges people to doubt nasty things they may hear about the company in question. 1. ____ à 2. ____ à C à 3. _____ à 4. _____ à 5. _____ à D 1.填空(5分)sequencing 1.

Arbore Co is a large listed company with many autonomous departments operating as investment centres. It sets investment limits for each department based on a three-year cycle. Projects selected by departments would have to fall within the investment limits set for each of the three years. All departments would be required to maintain a capital investment monitoring system, and report on their findings annually to Arbore Co’s board of directors.

The Durvo department is considering the following five investment projects with three years of initial investment expenditure, followed by several years of positive cash inflows. The department’s initial investment expenditure limits are $9,000,000, $6,000,000 and $5,000,000 for years one, two and three respectively. None of the projects can be deferred and all projects can be scaled down but not scaled up.

PDur05 project’s annual operating cash flows commence at the end of year four and last for a period of 15 years. The project generates annual sales of 300,000 units at a selling price of $14 per unit and incurs total annual relevant costs of $3,230,000. Although the costs and units sold of the project can be predicted with a fair degree of certainty, there is considerable uncertainty about the unit selling price. The department uses a required rate of return of 11% for its projects, and inflation can be ignored.

The Durvo department’s managing director is of the opinion that all projects which return a positive net present value should be accepted and does not understand the reason(s) why Arbore Co imposes capital rationing on its departments. Furthermore, she is not sure why maintaining a capital investment monitoring system would be beneficial to the company.

Required:

(a) Calculate the net present value of project PDur05. Calculate and comment on what percentage fall in the selling price would need to occur before the net present value falls to zero. (6 marks)

(b) Formulate an appropriate capital rationing model, based on the above investment limits, that maximises the net present value for department Durvo. Finding a solution for the model is not required. (3 marks)

(c) Assume the following output is produced when the capital rationing model in part (b) above is solved:

Required:

Explain the figures produced in each of the three output categories. (5 marks)

(d) Provide a brief response to the managing director’s opinions by:

(i) Explaining why Arbore Co may want to impose capital rationing on its departments; (2 marks)

(ii) Explaining the features of a capital investment monitoring system and discussing the benefits of maintaining such a system. (4 marks)

听力原文： In July our company launched Servelink to connect technical support with our front line customer service representatives. The goal was to streamline consumer problem resolution by putting the sales force in instant interaction with our qualified technicians to solve complex problems. Between October and November, an average of 280 messages per day were sent via Servelink. The technicians were able to resolve an average of 220 tickets per day, increasing our efficiency by 14%. This resulted in increased satisfaction, as indicated by our poll in late November.

Who is the message intended for?

A．New customers.

B．Company employees.

C．Sales representatives.

D．Technicians.

A．Both provide accommodations for the young.

B．Both have places to store food.

C．Both have devices for regulating the temperature.

D．Both function as innate instinctive mechanisms.

听力原文： (A =Alice T=Tony)

A Sinwell & Co. Good morning.

T Hello, Alice?

A Oh, hello Tony.

T I’m glad I caught you. Listen, I’m at the airport, and I’ve just realized I’ve left my diary in the office. You can’t see it anywhere, can you?

A Hang on. Here it is.

T Oh, great. Now can you have a look at tomorrow? I’ve got an appointment at nine thirty at the airport. But what’s the name of the woman I’m seeing?

A It’s Ms. Chen. Chen Hong.

T That’s it. It had gone right out of my head. Is that C-H-E-N H-O-N-G?

A That’s right.

T And what’s her position in the company, exactly?

A She’s their new Research Director.

T That’s it. Right. Then in the afternoon, I’m meeting Mr. Johnson at 2.30. but I can’t remember whether we agreed to meet at his company or the hotel.

A Well, there’s nothing here about the hotel.

T Right, then it must be at his company. Sorry, Alice, I’ll have to go. My plane’s boarding.

A Ok, Tony. Oh, before you go. Don’t forget on Wednesday you’ll need to confirm your flight to Shanghai.

T Thanks. I’ll make a note of it. I’ll call you first thing in the morning.

A Bye.

&8226;Look at the form. below.

&8226;You will hear a man checking details of his appointments

AMERICAN BUSINESS TRIP: Mon 4/5-Wed 6/5

Appointments

9.30 Meeting at (9) ______ with Ms. Chen Hong.

She's their new (10) ______ .

14.30 Meet Mr. Johnson at (11) ______ to discuss new products.

Don't forget

Call office tomorrow.

(12)______ to Shanghai on Wednesday.

Ever since they were first staged in 19th century Europe, world's fairs have enabled people from around the globe to visit wondrous pavilions where they can discover distant lands and new technologies. The 2006 world's fair is no exception, but it also has a decidedly new- era twist: the whole event happens in cyberspace.

A nonprofit project dreamed up by Americans Carl Malamud, a computer consultant, and Vinton Cerf, and Internet pioneer and telecommunications-company vice president, the Internet 2006 World Exposition is a digital work in progress, a multi-chambered forum that cybernauts can help build and renovate throughout the year—and perhaps long after the fair's official close in December.

While high-tech pavilions set up by sponsoring corporations are featured prominently, as in real fairs, this virtual exposition is closer in spirit and reality to a vast bustling bazaar, a marketplace for the talents and offerings of thousands of individuals and small groups. Anyone with a computer and a modem can not only "attend" but also participate as an exhibitor by creating an individual multimedia Website.

Getting the fair up and running was by no means easy. Malamud, 36, spent the past year shuttling among 30 countries, lobbying companies that initially dismissed the project as unwieldy and unworkable. While some nations immediately supported the idea, others completely missed the point of Malamud's vision: to make the fair a public-works project that focuses on what the Internet can offer expert or novice. Once grass-roots groups started backing the project, though, businesses were not far behind. By donating equipment and services, these companies will gain access to millions of potential consumers eager to see the firms' latest technologies.

Since the exposition's Jan. 1 launch, as many as 40,000 visitors each day from more than 40 countries have tried the major Websites. Most virtual visitors log on from the U.S and Japan, but the United Arab Emirates, Sweden, Singapore and Estonia have been represented. Comments logged in the fair's guest book are overwhelmingly positive. "Wow, the world is shrinking", wrote a visitor from the Netherlands. Since their initial hesitancy, the major sponsors-primarily telecommunications and software companies—have become firm believers. Beyond the diversity of content and international scope, the fair is a technological marvel.

The fastest international link ever installed, this pipeline could be the first step toward laying a permanent network that will eventually hardwire every nation in the world into the Internet. The organizers hope that the infrastructure—and awareness-nurtured by this exposition will launch a boom in Net use.

The organizers thinks that the effect on Net use of the good world's fair is ______.

A．hardly positive.

B．dubiously-oriented.

C．quite instantaneous.

D．far-reaching.