A company had a gross profit of $300,000 based on sales of $400,000. Its cost of goods sold equals $700,000.

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.

Youwanttoenforceacompany’sbusinesspolicyonseveralobjectsbyusingasinglepolicyfunction.Whichtwotypesofpoliciescanbeassignedtothepolicy_typeargumentinthedbms_rls.add_policyproceduretoachievetheaboveobjective？（）

A.DBMS_RLS.STATIC

B.DBMS_RLS.DYNAMIC

C.DBMS_RLS.SHARED_STATIC

D.DBMS_RLS.CONTEXT_SENSITIVE

E.DBMS_RLS.SHARED_CONTEXT_SENSITIVE

Youwanttoenforceacompany’sbusinesspolicyonseveralobjectsbyusingasinglepolicyfunction.Whichtwotypesofpoliciescanbeassignedtothepolicy_typeargumentinthe dbms_rls.add_policyproceduretoachievetheaboveobjective？（）

A.DBMS_RLS.STATIC

B.DBMS_RLS.DYNAMIC

C.DBMS_RLS.SHARED_STATIC

D.DBMS_RLS.CONTEXT_SENSITIVE

E.DBMS_RLS.SHARED_CONTEXT_SENSITIVE

听力原文： Ten years ago a small boy fell off his bicycle because he wanted to look behind. This gave Billy Morgan, a British businessman, a new idea. He designed a bicycle helmet with a built-in minor.

Mr. Morgan launched the product six months ago, and it now has sales of 27,000 and sells in twelve countries from Korea to Finland. The target for the second year is for sales of nearly 1 million pounds.

But it wasn't easy for Mr. Morgan to become successful. He had problems when he tried to interest UK manufacturers in making the helmet. It cost Mr. Morgan 1 million pounds of his own money to develop the helmet for the mass market.

Mr. Morgan found a helmet-maker in France. He worked with French consultants to make the design better for mass production, and spent ￡ 450,000 on preparing the French plant to make the helmet.

Now he plans to do more research and development. He wants to manufacture other designs of rearview helmets for motorcycling, skiing and horse-riding.

(34)

A．A product launch that didn't succeed.

B．A new idea that became a commercial success.

C．A manufacturing problem.

D．A new design of the bicycle helmet.

The "MyDoom" virus could presage a generation of computer attacks by organised gangs aiming to extract ransoms from online businesses, experts said yesterday.

The warning came as the website run by SCO, a company that sells Unix computer software, in effect disappeared from the web under a blizzard of automated attacks from PCs infected by the virus, which first appeared a week ago.

The "MyDoom-A" version of the virus is reckoned to be the worst to have hit the internet, in terms of the speed of its spread, with millions of PCs worldwide believed to be infected. Such "zombie" machines begin to send out hundreds of copies of the virus every hour to almost any e-mail address in their files.

On Sunday they began sending automated queries to SCO's website, an attack that will continue until 12 February. The attack is the web equivalent of ringing the company's doorbell and running away a million times a second, leaving its computers unable to deal with standard requests to view its pages.

"You have to wonder about the time limit", said Graham Cluley, senior technology consultant at the antivirus company Sophos. "Someone could go to SCO after the 12th and say, 'If you don't want this to happen again, here are our demands'". Raimund Genes, European president of the security software firm Trend Micro, said: "Such a programme could take out any major website on the internet. It's not terrorism, but it is somebody who is obviously upset with SCO"

SCO has earned the enmity of computer users through a lawsuit it has filed against IBM. SCO claims ownership of computer code it says IBM put into the free operating system Linux, and is demanding licence fees and damages of $1bn.

Mr. Cluley said: "It might be that whoever is behind this will say to SCO, 'if you don't want the next one to target you, drop the lawsuit'". SCO has offered $250,000 (￡140,000) for information leading to the arrest of the person or people who wrote and distributed MyDoom.

Nell Barrett, of the security company Information Risk Management, said, "I would give a lot of credence to the idea of gangs using viruses to extort money. It's hard for law enforcement to track them down, because they're using machines owned by innocent people".

A second variant of MyDoom will start attacking part of Microsoft's website later today. The antivirus company MessageLabs said it had blocked more than 16 million copies of the virus in transit over the net so far. But millions more will have reached their targets.

The onset of a new generation of computer attacks was marked by ______.

A．an organization of gangs

B．the infection of PCs

C．the sale of a software

D．a website's vanishing

The "MyDoom" virus could presage a generation of computer attacks by organised gangs aiming to extract ransoms from online businesses, experts said yesterday.

The warning came as the website run by SCO, a company that sells Unix computer software, in effect disappeared from the web under a blizzard of automated attacks from PCs infected by the virus, which first appeared a week ago.

The "myDoom-A" version of the virus is reckoned to be the worst to have hit the internet, in terms of the speed of its spread, with millions of PCs worldwide believed to be infected. Such "zombie" machines begin to send out hundreds of copies of the virus every hour to almost any e-mail address in their files.

On Sunday they began sending automated queries to SCO's website, an attack that will continue until 12 February. The attack is the web equivalent of ringing the company's doorbell and running away a million times a second, leaving its computers unable to deal with standard requests to view its pages.

"You have to wonder about the time limit," said Graham Cluley, senior technology consultant at the antivirus company Sophos. "Someone could go to SCO after the 12th and say, 'If you don't want this to happen again, here are our demands'." Raimund Genes, European president of the security software firm Trend Micro, said: "Such a programme could take out any major website on the internet. It's not terrorism, but it is somebody who is obviously upset with SCO."

SCO has earned the enmity of computer users through a lawsuit it has filed against IBM. SCO claims ownership of computer code it says IBM put into the free operating system Linux, and is demanding licence fees and damages of $1bn.

Mr. Cluley said: "It might be that whoever is behind this will say to SCO, 'if you don't want the next one to target you, drop the lawsuit'." SCO has offered $250,000(￡140,000) for information leading to the arrest of the person or people who wrote and distributed MyDoom.

Nell Barrett, of the security company Information Risk Management, said, "I would give a lot of credence to the idea of gangs using viruses to extort money. It's hard for law enforcement to track them down, because they're using machines owned by innocent people."

A second variant of MyDoom will start attacking part of Microsoft's website later today. The antivirus company MessageLabs said it had blocked more than 16 million copies of the virus in transit over the net so far. But millions more will have reached their targets.

The onset of a new generation of computer attacks was marked by ______.

A．an organization of gangs

B．the infection of PCs

C．the sale of a software

D．a website's vanishing

Earle Dickson worked for a company manufacturing gauze and tape called Johnson & Johnson. We will never know the reason, but it is a fact that his wife, Josephine Dickson, always had some minor accidents. During the first week of their marriage, she hurt herself twice with the kitchen knife. After that, it just went from bad to worse. It seemed that Josephine was always cutting herself. One day Earle Dickson had an idea. He sat down with some tape and gauze and a pair of scissors. Then he cut the tape into strips. In the middle of each strip he stuck a little square of gauze. From then on, whenever Josephine had an accident, ready-made bandages were on hand for her to use quickly and without a lot of fuss. At Johnson & Johnson, people heard about these new bandages which could be put on in thirty seconds. Soon the company started to try these bandages on the market. Slowly they were accepted by the public. Four years later, in 1924, the company installed machines for mass producing the new product, with the trade name BAND-AID.

1. When did Mrs. Dickson often cut herself()

A. When she did gardening.

B. When she did cooking.

C. When she did shopping.

2. Why did Mr. Dickson decide to make the bandages by himself()

A. Because he was interested in studying them.

B. Because the company asked him to do it.

C. Because his wife was often in a mass when she cut herself.

3. What does the word “ready-made” mean for()

A. It means something you need to prepare.

B. It means something you have to make by yourself.

C. It means something you can use at once.

4. What is the main reason for company’s mass production on the bandages Mr. Dickson invented()

A. The bandages are cheap for workers.

B. The bandages are necessary for women.

C. The bandages are welcomed by people.

5. What is the best title for this passage()

A. The Invention of BAND-AID

B. The Instruction to BAND-AID

C. The Products of BAND-AID

Much of today's science of physics is based on Newton's discovery of the three laws of motion and his theory of gravity (引力). Newton also developed one of the most powerful tools of mathematics. It is the method we call calculus (微积分). Late in his life, Newton said of his work: "If I saw further than other men, it was because I stood on the shoulders of giants." One of those giants was the great Italian scientist, Galileo. Galileo died the same year Newton was born. Another of the giants was the Polish scientist Nicholas Copernicus. He lived a hundred years before Newton. Copernicus had begun a scientific revolution. It led to a completely new understanding of how the universe worked. Galileo continued and expanded the work of Copernicus. Isaac Newton built on the ideas of these two scientists and others. He found and proved the answers for which they searched.

At that time, a deadly plague was spreading across England. To escape the disease, Newton returned to the family farm. He did more thinking than farming. In doing so, he found the answers to some of the greatest mysteries of science. Newton used his great skill in mathematics to form. a better understanding of the world and the universe. He used methods he had learned as a boy in making things. He experimented. Then he studied the results and used what he had learned to design new experiments. Newton's work led him to create a new method in mathematics for measuring areas curved in shape. He also used it to find how much material was contained in solid objects. The method he created became known as integral calculus.

Isaac Newton was born in Woolsthorpe, England, on December twenty-fifth, sixteen forty-two. He was born early. He was a small baby and very weak. No one expected him to survive. But he surprised everyone. He had one of the most powerful minds in history. And he lived until be was eighty-four. Newton's father died before he was born. His mother married again a few years later. She left Isaac with his grandmother. The boy was not a good student. Yet he liked to make things, such as kites and clocks and simple machines.

Newton also enjoyed finding new ways to answer questions or solve problems. As a boy, for example, he decided to find a way to measure the speed of the wind. On a windy day, he measured how far he could jump with the wind at his back. Then he measured how far he could jump with the wind in his face. From the difference between the two jumps, he made his own measure of the strength of the wind. Strangely, Newton became a much better student after a boy kicked him in the stomach. The boy was one of the best students in the school. Newton decided to get even by getting higher marks than the boy who kicked him. In a short time, Newton became the top student at the school.

Newton left school to help on the family farm. It soon became clear, however, that the boy was not a good farmer. He spent his time solving mathematical problems, instead of taking care of the crops. He spent horns visiting a bookstore in town, instead of selling his vegetables in the market. An uncle decided that Newton would do better as a student than as a farmer. So he helped the young man enter Cambridge University to study mathematics. Newton completed his university studies five years later, in sixteen sixty-five. He was twenty-two years old.

One day, sitting in the garden, Newton watched an apple fall from a tree. He began to wonder if the same force that pulled the apple down also kept the moon circling the earth. Newton believed it was. And he believed it could be measured. He called the force "gravity". He began to examine it carefully. He decided that the strength of the force keeping a planet in orbit around the sun depended on two things. One was the amount of mass in the planet and the sun. The other was how far apart they were.

Newton was able to find the exact relationship be

A．Y

B．N

C．NG

READING PASSAGE 1

You should spend about 20 minutes on Questions 1-12 which are based on Reading Passage 1 below.

THE DEPARTMENT OF ETHNOGRAPHY

The Department of Ethnography was created as a separate department within the British Museum in 1946, after 140 years of gradual development from the original Department of Antiquities. it is concerned with the people of Africa, the Americas, Asia, the Pacific and parts of Europe. While this includes complex kingdoms, as in Africa, and ancient empires, such as those of the Americas, the primary focus of attention in the twentieth century has been on small-scale societies. Through its collections, the Department's specific interest is to document how objects are created and used, and to understand their importance and significance to those who produce them. Such objects can include both the extraordinary and the mundane, the beautiful and the banal.

The collections of the Department of Ethnography include approximately 300,000 artefacts, of which about half are the product of the present century. The Department has a vital role to play in pro viding information on non-Western cultures to visitors and scholars. To this end, the collecting emphasis has often been less on individual objects than on groups of material which allow the display of a broad range of a society's cultural expressions. Much of the more recent collecting was carried out in the field, sometimes by Museum staff working on general anthropological projects in collaboration with a wide variety of national governments and other institutions. The material collected includes great technical series - for instance, of textiles from Bolivia, Guatemala, Indonesia and areas of West Africa - or of artefact types such as boats. The latter include working examples of coracles from India, reed boats from Lake Titicaca in the Andes, kayaks from the Arctic, and dug-out canoes from several countries. The field assemblages, such as those from the Sudan, Madagascar and Yemen, include a whole range of material culture representative of one people. This might cover the necessities of life of an African herdsman or an Arabian farmer, ritual objects, or even on occasion airport art. Again, a series of acquisitions might represent a decade's fieldwork documenting social experience as expressed in the varieties of clothing and jewellery styles, tents and camel trappings from various Middle Eastern countries, or in the developing preferences in personal adornment and dress from Papua New Guinea. Particularly interesting are a series of collections which continue to document the evolution of ceremony and of material forms for which the Department already possesses early (if not the earliest) collections formed after the first contact with Europeans.

The importance of these acquisitions extends beyond the objects themselves. They come to the Museum with documentation of the social context, ideally including photographic records. Such acquisitions have multiple purposes. Most significantly they document for future change. Most people think of the cultures represented in the collection in terms of the absence of advanced technology. In fact, traditional practices draw on a con tinuing wealth of technological ingenuity. Limited resources and ecological con straints are often overcome by personal skills that would be regarded as exceptional in the West. Of growing interest is the way in which much of what we might see as disposable is, elsewhere, recycled and reused.

With the independence of much of Asia and Africa after 1945. it was assumed that economic progress would rapidly lead to the disappearance or assimilation of many small-scale societies. Therefore, it was felt that the Museum should acquire materials representing people whose art or material culture, ritual or political structures were on the point of irrevocable change. This attitude altered with the realisation that marginal communities can survive an

A．真

B．假

C．NOT GIVEN