题目内容

Cash, check, or credit card
Shanghai Cafe
Authentic Chinese Cuisine
www.shangahicafe.com
Dine In or Take Out
FREE DELIVERY
999 E. Gulf Road
Belton, Missouri 64012
816-295-1288
Lunch and Dinner Special Plates
Served with Egg Roll, Crab Rangoon & Fried or Steamed Rice
Lunch: Monday through Sunday 11 A.M. - 5 P.M.
Dinner: Monday through Sunday 5 P.M. - 10 P.M.
Free Appetizer Present this coupon when buying any 2 dinner entrees and 2 drinks and receive a free appetizer.
(up to $6.95 value. Dine in only after 5 P.M.)
What is true about the Shanghai Cafe?

A. It is open every day.
B. It closes earlier on Sundays.
C. It does not accept credit cards.
D. It does not offer delivery service.

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•For each question 13-18, mark one letter (A, B, C or D) on your Answer Sheet, for the answer you choose.
Business and Social Responsibility
Today more and more people believe that business should play an active role in improving society and solving social problems. For example, we expect that businesses will take care not to pollute the air we breathe or the water we drink. We also expect them to offer fair wages and employee benefits and to provide a satisfactory product or service at a reasonable price. Many companies recognize this and have stated publicly that they will act as a good citizen. They support local arts, build parks, raise funds for charities, and try to put back some of their profits into the community that has made their success possible.
A good reason for businesses to be socially responsible is that society gives business organizations the right to exist. A social setting or environment, with its laws, customs, and other social and cultural norms, allows businesses to form. and function. It is only right for businesses to participate in making the community in which they operate a better place.
To be socially responsible also benefits businesses. In many cases, a company will make greater profits in the long run if it considers benefits to society. Customers actually vote for products and companies when they make a purchase. If a product is of good quality and priced fairly, they will probably buy it more than once. But when customers find out that a manufacturer produces only inferior or shoddy products that cheat them out of their money, they may become so angry that they will never purchase another of their products. Consumers may also shun firms that pollute the environment or engage in unethical practices by not buying their products. When enough people believe a business no longer serves society's best interests, they may pressure the firm into its doom by boycotting its goods or services, influencing officials against it, condemning it in the media, or patronizing other firms.
A business whose goal is to maximize profits is not likely to act out of a sense of social responsibility although its activity will probably be legal. Only businesses that are concerned about society as well as about maintaining profitability are likely to invest voluntarily in socially responsible activities. For example, the former president of Pizza Hut, Orr Gunther, implemented a program called "Book-it." This program rewarded children with a free pizza for reading a certain number of books. Such a business may win the trust and respect of its customers andin the long run increase profits.
To be successful, a business must determine what customers and society want or expect in terms of social responsibility. Although .social responsibility may seem an abstract idea, managers consider it on a daily basis as they deal with real issues. A business must monitor changes and needs in society in order to behave in a .socially responsible way.
The passage mainly focuses on ______.

A. doing business
B. social responsibility
C. what customers and society want
D. cultural and social norms

Employee Ownership
Real Precision Manufacturing—To avoid layoffs in a recent downturn, people at this employee-owned firm took pay cuts, with larger cuts at the top, and none at the bottom. The company mission is to further "individual development and the common good."
Environmental Excellence
Collins & Aikman—This firm was the first manufacturer to fully recycle carpet on a commercial scale and introduce a commercial floor covering product with significant recycled content.
Living Economy
Organic Valley—This $100 million operation is the largest organic farmer-owned cooperative in the nation. Its 460 farmer members decide how much to pay themselves, and each member has one vote.
South Mountain—This employee-owned design/build firm aims to create buildings that stand as worthy expressions of humane, well-crafted, environmentally sound architecture.
Which one of the following is awarded Employee Ownership in the 2002 Business Ethics Awards?

A. Real Precision Manufacturing.
B. South Mountain.
Collins & Aikman.
D. Organic Valley.

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B. +
D. +

•For each Question 15-20, mark one letter (A, B, C or D) on your Answer Sheet for the answer you choose.
"Harmonization" is a process of increasing the compatibility of accounting practices by setting limits on how much they vary. Harmonized standards are free of logical conflicts, and should improve the comparability of financial information from different countries.
Efforts to harmonize accounting standards began even before the creation of the International Accounting Standards Committee (IASC) in 1973. International accounting harmonization now is one of the most important issues facing securities regulators, stock exchanges, and those who prepare or use financial statements.
Harmonization and standardization are sometimes used interchangeably. But there is still a difference between them. Standardization normally means the imposition of a rigid and narrow set of rules, and may even apply a single standard or rule to all situations. Besides, standardization does not accommodate national differences and, therefore, is more difficult to implement internationally. Whereas harmonization is much more flexible and open. It does not take a one-size-fits-all approach, but accommodates national differences and has made a great of progress internationally in recent years. However, within accounting, these two words have almost become technical terms, and one cannot rely on the normal difference in their meanings. 'Harmonization' is a word that tends to be associated with the transnational legislation originating from the European Union while 'standardization' is a word that is often associated with the International Accounting Standard Committee.
The reasons that make national accounting standards desirable also apply internationally. Generally speaking, the reasons for harmonization are as follows: (1) It is important and necessary for investors and financial analysts to understand the financial statements of foreign companies whose shares they might wish to buy. They hope to make it quite sure that statements from different countries are reliable and comparable, or at least to be clear about the nature and magnitude of the differences. Besides, they also need confidence in the soundness of the auditing.
(2) The advantages of harmonization are very important for MNEs, because the great effort of financial accountants to prepare and consolidate financial statements would be much simplified if statements from all around the world were prepared according to the same standards. Besides, it would be much easier to prepare comparable internal information for the appraisal of the performance of subsidiaries in different countries. Further, many aspects of investment appraisal, performance evaluation, and other decision making uses of management accounting information would benefit from harmonization. Above all, the cost of capital should be reduced by reducing the risk for investors if accounting can be made more comparable and reliable.
(3) International accountancy firms can benefit from harmonization. They are in favour of harmonization because it is good for their large clients.
(4) Governments in developing countries might find it easier to understand and control the operations of MNEs if financial reporting were harmonized.
The most fundamental of obstacles to harmonization is the size of the present differences between the accounting practices of different countries. In previous Section 8.5 some main differences concerned with international accounting are discussed. Besides, there are several significant differences within the equity class, let alone between that class and the other. These differences go to the root of the reasons for the preparation of accounting information. Further, the dichotomy between shareholder/fair view pr

A. International Accounting Standard
B. International Accounting
C. International Accounting Harmonization
D. International Accounting Standard Committee

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