Text 4 Bankers have been blaming themselves for their troubles in public. Behind the scenes, they have been taking aim at someone else: the accounting standard-setters. Their rules, moan the banks, have forced them to report enormous losses, and it’s just not fair. These rules say they must value some assets at the price a third party would pay, not the price managers and regulators would like them to fetch. Unfortunately, banks’ lobbying now seems to be working. The details may be unknowable, but the independence of standard-setters, essential to the proper functioning of capital markets, is being compromised. And, unless banks carry toxic assets at prices that attract buyers, reviving the banking system will be difficult. After a bruising encounter with Congress, America’s Financial Accounting Standards Board (FASB) rushed through rule changes. These gave banks more freedom to use models to value illiquid assets and more flexibility in recognizing losses
A. follow unfavorable asset evaluation rules
B. collect payments from third parties
C. cooperate with the price managers
D. reevaluate some of their assets.
Text 4 Bankers have been blaming themselves for their troubles in public. Behind the scenes, they have been taking aim at someone else: the accounting standard-setters. Their rules, moan the banks, have forced them to report enormous losses, and it’s just not fair. These rules say they must value some assets at the price a third party would pay, not the price managers and regulators would like them to fetch. Unfortunately, banks’ lobbying now seems to be working. The details may be unknowable, but the independence of standard-setters, essential to the proper functioning of capital markets, is being compromised. And, unless banks carry toxic assets at prices that attract buyers, reviving the banking system will be difficult. After a bruising encounter with Congress, America’s Financial Accounting Standards Board (FASB) rushed through rule changes. These gave banks more freedom to use models to value illiquid assets and more flexibility in recognizing losses
A. the diminishing role of management
B. the revival of the banking system
C. the banks’ long-term asset losses
D. the weakening of its independence
Bankers have been blaming themselves for their troubles in public. Behind the scenes, they have been taking aim at someone else: the accounting standard-setters. Their rules, moaned the banks, have forced them to report enormous losses, and it’s just not fair. These rules say they must value some assets at the price a third party would pay, not the price managers and regulators would like them to fetch.
Unfortunately, banks’ lobbying now seems to be working. The details may be unknowable, but the independence of standard-setters, essential to the proper functioning of capital markets, is being compromised. And, unless banks carry toxic assets at prices that attract buyers, reviving the banking system will be difficult.
After a bruising encounter with Congress, America’s Financial Accounting Standards Board (FASB) rushed through rule changes. These gave banks more freedom to use models to value illiquid assets and more flexibility in recognizin
A. follow unfavorable asset evaluation rules
B. collect payments from third parties
C. cooperate with the price managers
D. reevaluate some of their assets
In the following text, some sentences have been removed. For Questions (41-45), choose the most suitable one from the list A-G to fit into each of the numbered blank. There are two extra choices, which do not fit in any of the gaps.
Coffee is worth approximately $ 50-60bn each year in terms of world sales. It is a truly international commodity, and today more than 50 countries in the world grow coffee beans. This makes the coffee industry fairly universal, according to Pablo Dubois, head of the International Coffee Organisation (ICO), based in London. ICO organization helps coffee producers and promotes coffee consumption worldwide.
ICO estimates that world production next year will reach 97.5 million bags, 11.3 million bags higher than the current year. The main reason for this is higher Brazilian output as production recovers from weather damage to crops. 41.______In 1994 Brazil was responsible for 25% of world production, Colombia was next with 13.4%, Indonesia
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