A．isB．wasC．will beD．had been

Cannavaro.com is a website design company whose year-end was 31 December 20X4. The audit is almost complete and the financial statements are due to be signed shortly. Profit before tax for the year is $3.8 million and revenue is $11.2 million. The company has only required an audit for the last two years and the board of directors has asked your firm to provide more detail in relation to the form and content of the auditor’s report. During the audit it has come to light that a key customer, Pirlo Co, with a receivables balance at the year-end of $285,000, has just notified Cannavaro.com that they are experiencing cash flow difficulties and so are unable to make any payments for the foreseeable future. The finance director has notified the audit team that he will write this balance off as an irrecoverable debt in the 20X5 financial statements. The audit assistant assigned to the audit of Cannavaro.com wants a better understanding of the effect subsequent events have on the audit and has made the following statements: (1) All material subsequent events require the numbers in the financial statements to be adjusted (2) A non-adjusting event is a subsequent event for which NO amendments to the current year financial statements are required (3) The auditor’s responsibilities for subsequent events which occur prior to the audit report being signed are different from their responsibilities after the audit report has been issued (4) The auditor should request a written representation confirming that all relevant subsequent events have been disclosed Which of the statements above in relation to subsequent events are true?

A、1 and 3

B、2, 3 and 4

C、1, 2 and 4

D、3 and 4

A、Revenues that have been earned and received in cash.

B、Revenues that have been earned but not yet collected in cash.

C、Liabilities created when a customer pays in advance for products or services before the revenue is earned.

D、Recorded as an asset in the accounting records.

E、Increases to owners' capital

is a _______ reaction.

A、combination

B、decomposition

C、single displacement

D、partner-exchange

B．lain

C．had lain

D．sat

A．many problems in China came from internal disorders due to Western influence.

B．many problems in China came from China itself and were unrelated to the West.

C．scapegoats perform. a necessary function and there should be more of them.

D．all of the above are true.

The economic significance of conventions is that they reduce transaction costs. Imagine the inconvenience if, whenever two vehicles approached one another, the drivers had to get out and negotiate which side of the road to take. Or consider the cost of having to switch freight from one type of railroad to another whenever a journey involves both a wide-gauge and a narrow-gauge railroad line. This was a common circumstance in the nineteenth century and not unknown in the late twentieth: until recently, Australia had different rail gauges in the states of South Wales and Victoria, forcing a mechanical switch for all trains bound between Sydney and Melbourne.

Conventions are also a notable feature of legal contracts. People rely on standard leases, wills, purchasing agreements, construction contracts and the like, because it is less costly to fill in the blanks of a standard contract than to Create one from scratch. Even more important, such agreements are backed up by legal precedent, so the signatories have even greater confidence that, their terms are enforceable.

We may discern two ways in which conventions become established. One is by central authority. Following the French Revolution, for example, it was decreed that horse-drawn carriages in Paris should keep to the right. The previous custom had been for carriages to keep left and for pedestrians to keep right, facing the oncoming traffic. Changing the custom was symbolic of the new order going on the left had become politically incorrect because it was identified with the privileged classes; going on the right was the habit of the common many and therefore-more "democratic."

In Britain, by contrast there seems to have been no single defining event that gave rise to the dominant convention of left-handed driving. Rather, it grew up by local custom, spreading from one region to another. This is the second mechanism by which conventions become established: the gradual accretion of precedent. The two mechanisms are not mutually exclusive, of course. Society often converges on a convention first by an informal process of accretion; later it is codified into law to regulate exceptions. In many countries, rules of the road were not legislated until the nineteenth century, but by this time the law was merely reiterating what had already become established custom.

The surprising fact is that until the end of the eighteenth century, the dominant convention was for horse-drawn carriages to keep to the left. This situation obtained in Great Britain, France, Sweden, Portugal, Austria, Hungary, Bohemia and parts of Italy. A chain of historical accidents--Napoleon adopting the new convention for his armies and imposing this convention in occupied countries; Portugal sharing a common border with occupied Spain; Austria, Hungary and Bohemian Czechoslovakia falling under German rule; Italy having elected a "modern" leader under a king--gradually tipped the balance.

In the first sentence, the word "convention" is underlined ______.

A．for personal reasons regarding style.

B．to stress the importance of the word.

C．because the author will define it.

D．for none of the above reasons.

A．Italy's king codified the new regulations.

B．Germany took its traffic customs from Austria, Hungary and Bohemian Czechoslovakia.

C．Napoleon conquered Portugal

D．Napoleon conquered Spain.

A．Radial

B．Radiant

C．Radical

D．Racial