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That day, he went there very early. He was all smile on the way. All things seem benign to him. The ground there was covered with a mist of bluebells, and nearly a score of crabapple trees were in full bloom. He threw himself clown on the grass. The change from the buttercup glory and oak-goldened glamour of the fields to this ethereal beauty under the gray tot filled him with a sort of wonder; nothing the same, save the sound of running water and the songs of the cuckoos. He lay there a long time, watching the sunlight wheel till the crab -trees threw shadows over the bluebells, his only companions a few wild bees. He was not quite sane, thinking of that morning’s kiss, and of tonight under the apple tree. In such a spot as this fauns and dryads surely live; nymphs, white as the crab -apple blossom, retired within those trees; fauns, brown an the dead bracken, with pointed ears, lay in wait for them. The cuckoos were still calling when he woke, there was the sound of running water; but the sun had couched behind the tot, the hillside was cool, and Some rabbits had come out. Tonight, he thought. Just as from the earth everything was pushing up, unfoldinE under the soft insistent fingers of an unseen hand, so were his heart and senses being pushed, unfolded. He got up and broke off a spray from a crab-apple tree. The buds were beautiful, rose pink, wild, and fresh; and so, too, the opening flowers, white, and wild, and touching. He put the spray into his coat. And all the rush of the spring within him escaped in a triumphant sigh. But the rabbits scurried away. But he had no mind for them. He was looking forward to the exciting hour.
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Directions: Read the following passages and determine whether the sentences are "Right" or "Wrong". If there is not enough information to answer " Right" or "Wrong", choose "Doesn’t say".Passage One When you buy a house, it is likely that you will be able to borrow a large part of the cost from a building society, when the solicitors close the deal. It is usual, however, to put down a deposit of 10% of the cost several weeks earlier when the price is agreed. Banks will often help with bridging loans for this purpose, against the solicitor’ s undertaking to repay them on completion of the deal. In the same way banks will often make bridging loans to investors, against the security of their investments, when money is required to pay for the purchase of shares before it is available from the sale of other shares. Banks are not usually keen on making long-term loans in either case, because they prefer not to tie up their resources. They lend money which they have borrowed from depositors, mostly repayable on demand or at short notice, and one of the classic ways for a bank to get into trouble is by borrowing "short" and lending "long". Banks are usually prepared to make long-term loans to investors.
Passage 2 Liabilities are obligations a company owes to outside parties. They represent rights of others to money or services of the company. Examples include bank loans, debts to suppliers and debts to employees. On the balance sheet, liabilities are generally broken down into current liabilities and long-term liabilities. Current liabilities are those obligations that are usually paid within the year, such as accounts payable, interest on long-term debts, taxes payable, and dividends payable. Because current liabilities are usually paid with current assets, as an investor it is important to examine the degree to which current assets exceed current liabilities. The most pervasive item in the current liability section of the balance sheet is accounts payable. Accounts payable are debts owed to suppliers for the purchase of goods and services on an open account. Almost all firms buy some or all of their goods on account. Therefore, you will often see accounts payable on most balance sheets. Long-term debt is a liability of a period greater than one year. It usually refers to loans a company takes out. These debts are often paid in installments. If this is the case, the portion to be paid off in the current year is considered a current liability. That wraps up our short review of liabilities. You only have one piece of the balance sheet left to learn shareholders’ equity. Remember that assets minus liabilities equals shareholders’ equity. Shareholders’ equity is the value of a business to its owners after all of its obligations have been met. This net worth belongs to the owners. Shareholders’ equity generally reflects the amount of capital the owners invested plus any profits that the company generates that are subsequently reinvested in the company. This reinvested income is called retained earnings. The following statements concerning long-term debt are true except that ______.
Section One Directions: In this section, you will hear ten short statements. Each statement will be spoken only once. After each statement, there will be a pause. During the pause, you must read the four suggested answers marked A, B, C and D, and decide which is the best answer.
Passage 3 Date: 26 Jan. 1993 From: the Kwangtung provincial bank, H. K. Corporate division-treasury Foreign exchange market: Dollar continued its weakness and dropped almost two pfennigs against mark on Monday dealing. Traders’ sentiment was changing greatly. At the beginning of this year, dollar rallied due to positive sentiment that the economy would recover in the expected fashion and German interest rate would ease soon. However, the hopes were dashed after a series worse-than-expected data were released and reluctance to cut rate by German Bundesbank. It seemed that the present us-German interest rate differential would be unlikely to narrow. On Monday trading, technical factor drove dollar further lower and it was quoted as low as 1.57 marks. Some dealers were quite bearish towards dollar, expecting it to ease further to 1.55 even 1.53 level in near future. Dollar also performed weak against Japanese yen. Dealers claimed that the talk of Japanese interest rate cut had been discounted, adding almost no pressure on the Japanese yen. Meanwhile, market was turning focuse on trade balance. Due to huge surplus, dealers believed that the yen should be stronger. During intraday dealing, the dollar was once quoted as low as 122. 75 yen. What is the main reason for dollar’s weakness
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