[名词解释]Customs Valuation

[简答题]customs clearance

[简答题]passage through Customs

[单项选择]Which of the following inventory valuation methods is allowed under Generally Accepted Accounting Principles (U. S. GAAP) and prohibited under International Financial Reporting Standards (IFRS)（）
A. Weighted average cost.
B. First-in, first-out (FIFO).
C. Last-in, first-out (LIFO).

[单项选择]An analyst does research about inventory valuation methods. Which of the following is most appropriate to account for precious gemstones（）
A. FIFO.
B. LIFO.
C. Specific identification.

[单项选择]Which of the following real estate valuation approaches is most likely to use slope coefficients derived from a statistical analysis to estimate the value of a property（）
A. cost approach.
B. sales comparison approach.
C. discounted after-tax cash flow model approach.

[单项选择]An analyst does research about equity valuation of Yelp Industry. Yelp's dividend growth rate is 6% and its dividend retention ratio is 60%. If the justified forward price-to-earnings ratio on Yelp's stock is 16, the implied required rate of return on equity is closest to:（）
A. 3.50%
B. 8.50%
C. 9.75%

[单项选择]An analyst does research about equity valuation and gathers the following information about a company and the economy. The current share price is $45, the price-to-earnings ratio is 15, the nominal risk-free rate is 3.1%, the risk premium is 7%, and the expected retention ratio is 40%. The best estimate of the company's dividend growth rate is:（）
A. 6.1%
B. 7.4%
C. 14.1%

[单项选择]An analyst does research about equity valuation. A company's current annual dividend (D₀) of $0.80 is expected to grow at a 20% rate for the next three years and at an 8% rate thereafter. If the required rate of return is 15%, the intrinsic value of the equity is closest to:（）
A. $13.71
B. $16.64
C. $21.33

[单项选择]An analyst does research about valuation models. With respect to equity valuation models, valuation working well for companies that do not have a high proportion of intangible or "off the books" assets and that do have a high proportion of current assets and current liabilities is best categorized as a(n):（）
A. multiplier model.
B. discounted cash flow model.
C. asset-based valuation model.

[单项选择]An analyst does research about valuation of bond. An option-free 6 percent coupon bond has an annual discount rate of 5 percent, pays interest semiannually, matures in five years, and is valued at $1043.76. One year later, the annual discount rate for that bond is 4.5 percent and the bond is valued at $1054.35. The change in value for this bond that is attributable only to the change of discount rate is closest to:（）
A. -$7.91
B. $7.91
C. $18.5

[单项选择]In the top-down approach to valuation, industry analysis should be conducted before company analysis because:（）
A. most valuation models recommend the use of industry-wide average required returns, rather than individual returns.
B. the goal of the top-down approach is to identify those companies in non-cyclical industries with the lowest P/E ratios.
C. an industry's prospects within the global business environment are a major determinant of how well individual firms in the industry perform.

[单项选择] GUIYANG CUSTOMS AND SCENERY COMPETITION NOTICE Fifteen questions for the Guiyang Customs and Scenery Competition were published in China Daily on May 5 and 7, and on China Daily’s web edition on May 7. Participants, please answer the questions and mail the answer card to: Press Office, Guiyang Municipal People’s Government 46 Zhongshan Xilu, Guiyang 550003, Guizhou, China or find the competition on www.chinadaily.com.cn. Then answer the questions, fill in all information needed and click the button below to send it back. The deadline for the competition is June 15 (subject to postmark). The prize-drawing Ceremony will be held on June 18 in Guiyang City, and six lucky winners (three living in China, three from abroad) w ill be drawn from those who give correct answers to all questions. Their names will be published in China Daily and its web edition on June 19. The six lucky winners will be invited to visit Guiyang from August 8 to 18.
A. May 7.
B. May 5.
C. June 18.
D. June 15.

[单项选择]A great difference between American social customs and those of other countries is the way in which names are used. Americans have little concern for "rank", especially socially. (76) Most Americans do not want to be treated in any especially respectful way because of their age or social rank; it makes them feel uncomfortable. Many Americans even find the terms "Mr. ", "Mrs." or "Miss." too formal. People of all ages may prefer to be called by their first names. "Don’t call me Mrs. Smith, just call me Sally." Using only first names usually indicates friendliness and acceptance. However, if you do not feel comfortable using only first names, it is quite acceptable to be more formal. Just smile and say that after a while you will use first names but you are accustomed to being more formal when you first meet someone.
Very often, introductions are made using both first and last names: "Mary Smith, this is John Jones." In this situation you are free to decide whether to call th
A. she is not a married woman
B. she prefers to be called "Sally"
C. she is not Mrs Smith
D. she likes to be more formal