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听力原文：The owners of limited companies are people who have bought shares in the company.(6)A．The shareholders are the owners of limited companies.B．Shareholders deposit their money in the limited companies.C．The shareholders can sell shares of limited compa
题目
听力原文：The owners of limited companies are people who have bought shares in the company.
(6)
A．The shareholders are the owners of limited companies.
B．Shareholders deposit their money in the limited companies.
C．The shareholders can sell shares of limited companies to the public.
D．Shareholders of limited companies are able to make profits continuously.
相似考题
参考答案和解析
解析：单句意思为“有限公司的拥有者是那些购买公司股份的人”。
更多“听力原文：The owners of limited companies are people who have bought shares in the company.(6)A．The shareholders are the owners of limited companies.B．Shareholders deposit their money in the limited companies.C．The shareholders can sell shares of limited compa”相关问题
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第1题：
(c) For commercial reasons, Damian believes that it would be sensible to place a new holding company, Bold plc,
over the existing company, Linden Limited. Bold plc would also be unquoted and would acquire the existing
Linden Limited shares in exchange for the issue of its own shares.
If the new structure is implemented, Bold plc will provide management services to Linden Limited, but the
amount that will be charged for these services is yet to be determined.
Required:
(i) State the capital gains tax (CGT) issues that Damian should be aware of before disposing of his shares
in Linden Limited to Bold plc. Your answer should include details of any conditions that will need to be
satisfied if an immediate charge to tax is to be avoided. (4 marks)
正确答案：
(c) (i) The proposed transaction broadly falls under the ‘paper for paper’ rules. Where this is the case, chargeable gains do not
arise. Instead, the new holding stands in the shoes (and inherits the base cost) of the original holding.
The company issuing the new shares must:
(i) end up with more than 25% of the ordinary share capital or a majority of the voting power of the old company,
OR
(ii) make a general offer to shareholders in the old company with a condition which would give the acquiring company
control of the company if accepted.
The exchange must be for bona fide commercial reasons and not have as its main purpose (or one of its main purposes)
the avoidance of capital gains tax or corporation tax.
The issue of shares by Bold plc satisfies these conditions, thus Damian, as a shareholder of Linden Limited, will not be
taxed on the exchange of shares. -
第2题：
(iii) Explain the potential corporation tax (CT) implications of Tay Limited transferring work to Trent Limited,
and suggest how these can be minimised or eliminated. (3 marks)
正确答案：
(iii) Trading losses may not be carried forward where, within a period of three years there is both a change in the ownership
of a company and a major change in the nature or conduct of its trade. The transfer of work from Tay Limited to Trent
Limited is likely to constitute a major change in the nature or conduct of the latter’s trade. As a consequence, any tax
losses at the date of acquisition will be forfeited. Assuming losses were incurred uniformly in 2005, the tax losses at the
date of acquisition were ￡380,000 (300,000 + 2/3 x 120,000)). This is worth ￡114,000 assuming a corporation tax
rate of 30%.
Thus, Tay Limited should not consider transferring any trade to Trent Limited until after the third anniversary of the date
of the change of ownership i.e. not before 1 September 2008. As the trades are similar, there should be little problem
in transferring work from that date onwards. -
第3题：
(b) The directors of Carver Ltd are aware that some of the company’s shareholders want to realise the value in their
shares immediately. Accordingly, instead of investing in the office building or the share portfolio they are
considering two alternative strategies whereby, following the sale of the company’s business, a payment will be
made to the company’s shareholders.
(i) Liquidate the company. The payment by the liquidator would be ￡126 per share.
(ii) The payment of a dividend of ￡125 per share following which a liquidator will be appointed. The payment
by the liquidator to the shareholders would then be ￡1 per share.
The company originally issued 20,000 ￡1 ordinary shares at par value to 19 members of the Cutler family.
Following a number of gifts and inheritances there are now 41 shareholders, all of whom are family members.
The directors have asked you to attend a meeting to set out the tax implications of these two alternative strategies
for each of the two main groups of shareholders: adults with shareholdings of more than 500 shares and children
with shareholdings of 200 shares or less.
Required:
Prepare notes explaining:
– the amount chargeable to tax; and
– the rates of tax that will apply
in respect of each of the two strategies for each of the two groups of shareholders ready for your meeting
with the directors of Carver Ltd. You should assume that none of the shareholders will have any capital
losses either in the tax year 2007/08 or brought forward as at 5 April 2007. (10 marks)
Note:
You should assume that the rates and allowances for the tax year 2006/07 will continue to apply for the
foreseeable future.
正确答案：
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第4题：
For a limited company, this will include the money ______ issuing shares, and is known as the share capital.A raise for ;
B raised by ;
C raising at
参考答案:B
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第5题：
Finally, they return the()to the people who bought shares in the company.
A、 cost
B、 price
C、 profits
参考答案：C
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第6题：
听力原文：M: Professor Wang, could you tell me the advantage of the preferred shares?
W: Preferred shares have certain rights, such as the preferred right to receive dividends before any ordinary dividends maybe declared.
Q: When do preferred shareholders have right to receive dividends?
(17)
A．Before any ordinary dividends are declared.
B．After any ordinary dividends are declared.
C．Before any ordinary dividends are paid.
D．After any ordinary dividends are paid.
正确答案：A
解析：这段对话谈论的是优先股的优势所在，女士的回答是他们能"receive dividends before any ordinary dividends maybe declared"，故A选项正确。 -
第7题：
Teachers have a limited amount of time to __________ with each child.A.interaction
B.interactive
C.interact
D.interacted
参考答案：C
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第8题：
A) plastered
B) glass
C) fragile
D) limited
正确答案：B
答案：B
[试题分析] 常识题。
[详细解答] 所填词要修饰ceiling，故只能选用glass，答案应为B。
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第9题：
共用题干
第二篇
Human and the Earth
In terms of the evolution of life on Earth,human beings have just arrived.Despite their shori time on Earth,however,people have brought about enormous changes to the surface of the planet一changes far out of proportion to the interval of time they have occupied it.
People have more control over their surroundings than any other species on Earth.With the combination of intelligence and manual skill(allowing us to make and use tools),people have found ways to use plant and animal resources,mineral ores,fuels,and many other materials and resources from the Earth.
As the number of people on Earth increases,it becomes increasingly difficult for the population to survive on the resources of the land.The amount of land is limited.Although agricultural production can be increased by use of machinery such as tractors and the addition of fertilizer,the land ultimately can produce only so much food and no more.
As the human population grows,people consume more.Clearly,some locations on Earth already have too many people;in many of these areas,future increases will surely bring about more poverty and suffering. Yet people in rich nations use proportionally far more of the available resources than people in poorer nations.As they consume these resources without restraint,they also waste large amounts of them.
People are only a very small fraction of all the living things on the planet.Yet their numbers create a drain on resources that can't be renewed.For example,the amount of water on Earth is limited,this water is cleaned through natural processes.However,the natural processes for filtering water can clean only a certain amount of water by removing the pollution.Likewise,a limited amount of petroleum can be found under the Earth's surface.Petroleum is a valuable resource.Should people use it up to manufacture petrol for automobiles?As people work to control the planet and make life comfortable,are they using up resources that are needed for their survival?What makes people feel hard to live on Earth?
A:Fertilizer.
B:Lse of machinery.
C:Limited land.
D:Limited mineral resources.答案：C解析：文章第一段第一句话提到“就地球上生命的进化而言，人类是姗姗来迟者”，因此比较而言，人类的历史并不长。选项A是正确的。
从文章第二段第二句话“With the combination of intelligence and manual skill...”我们知道选项A和B都是正确的，因此选择D项。
文章第三段提到，土地的总量是有限的。虽然使用拖拉机等机械和施用化肥可以提高农业产量，但是土地最终所能产出的粮食只有那么多，不会再增加。因此只有选项C是正确的。
文章第四段第三句说富裕国家的人们所使用的能源在比例上远远大于贫穷国家的人们。选项C中提到的“发达国家的人们”最符合题意。
根据文章最后一段关于资源的描述我们可以发现选项A、B、C都是正确的，只有选项D的表述错误，因此选择D项。 -
第10题：
单选题“Space is limited, so early registration is welcome” means ______.Aspace is limited, so you can’t register now
Bspace is too limited for you to register
Cyou’ll lose the good chance if you don’t register soon
Dyou’ll be given a special offer if you register now
正确答案： D解析：
同义转换题。这句话意思是“位置有限，欢迎尽早注册”，换言之，如果你不及早注册，就会失去一个很好的机会。故答案为C。 -
第11题：
单选题Geographic range is the maximum distance at which a light may be seen under（）.Aexisting visibility conditions，limited only by the curvature of the Earth
Bperfect visibility conditions，limited only by the curvature of the Earth
Cexisting visibility conditions，limited only by the intensity of the light
Dperfect visibility conditions，limited only by interference from background lighting
正确答案： D解析： 暂无解析 -
第12题：
问答题Practice 9 In the United States most people are simultaneously consumers and producers; they are also voters who help influence the decisions of the government. The mixture among consumers, producers and government changes constantly, making a dynamic rather than a static economy. In the last decade consumers have made their concern known and government has responded by creating agencies to protect consumer interests and promote the general public welfare. In another development, the population and the labor force have moved dramatically from farms to cities, from the fields to the factories, and above all to service industries, thus providing more personal and public services. In today's economy these providers of services far outnumber producers of agricultural and manufactured goods. Generally, there are three kinds of businesses: (1) those started and managed personally by single owners or single entrepreneurs; (2) the partnership where two or more people share the risks and rewards of a business, and (3) the corporation where shareholders as owners can buy and sell their shares at any time on the open market. This latter structure, by far the most important, permits the amassing of large sums of money by combining investment of many people, making possible large-scale enterprises.正确答案： 【参考译文】
在美国,大多数人既是消费者,同时又是生产者,而且还是能对政府施加影响的选民。消费者、生产者和政府三者的混合经常发生变化,因而产生的是动态经济而不是静态经济。在过去十年里,消费者公开表明了他们所关心的种种问题,而政府则据此设立了各种机构来保护消费者的利益,改善公共福利事业。出现的另一种新情况是,人口和劳动力大量从农村迁移到城市,从农田进入工厂,尤其是进入服务行业,从而为个人和公众提供了更多的服务。在当今的经济中,服务行业的从业人员大大超过农业和制造业的生产者。
一般说来,企业分为三种:(一)个体业主和个体企业家开办经营的企业;(二)两人或两人以上共同承担风险、分享赢利的合伙企业;(三)股份公司,股东作为公司拥有人任何时候都可以在公开市场上买卖公司股票。最后的那一种企业最为重要,因为股份公司可以把许多人的投资筹集到一起聚成巨额资金,从而得以开办大型企业。解析： 暂无解析 -
第13题：
(b) For this part, assume today’s date is 1 May 2010.
Bill and Ben decided not to sell their company, and instead expanded the business themselves. Ben, however,
is now pursuing other interests, and is no longer involved with the day to day activities of Flower Limited. Bill
believes that the company would be better off without Ben as a voting shareholder, and wishes to buy Ben’s
shares. However, Bill does not have sufficient funds to buy the shares himself, and so is wondering if the
company could acquire the shares instead.
The proposed price for Ben’s shares would be ￡500,000. Both Bill and Ben pay income tax at the higher rate.
Required:
Write a letter to Ben:
(1) stating the income tax (IT) and/or capital gains tax (CGT) implications for Ben if Flower Limited were to
repurchase his 50% holding of ordinary shares, immediately in May 2010; and
(2) advising him of any available planning options that might improve this tax position. Clearly explain any
conditions which must be satisfied and quantify the tax savings which may result.
(13 marks)
Assume that the corporation tax rates for the financial year 2005 and the income tax rates and allowances
for the tax year 2005/06 apply throughout this question.
正确答案：(b) [Ben’s address] [Firm’s address]
Dear Ben [Date]
A company purchase of own shares can be subject to capital gains treatment if certain conditions are satisfied. However, one
of these conditions is that the shares in question must have been held for a minimum period of five years. As at 1 May 2010,
your shares in Flower Limited have only been held for four years and ten months. As a result, the capital gains treatment will
not apply.
In the absence of capital gains treatment, the position on a company repurchase of its own shares is that the payment will
be treated as an income distribution (i.e. a dividend) in the hands of the recipient. The distribution element is calculated as
the proceeds received for the shares less the price paid for them. On the basis that the purchase price is ￡500,000, then the
element of distribution will be ￡499,500 (500,000 – 500). This would be taxed as follows:
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第14题：
(c) Briefly outline the corporation tax (CT) issues that Tay Limited should consider when deciding whether to
acquire the shares or the assets of Tagus LDA. You are not required to discuss issues relating to transfer
pricing. (7 marks)
正确答案：
(c) (1) Acquisition of shares
Status
The acquisition of shares in Tagus LDA will add another associated company to the group. This may have an adverse
effect on the rates of corporation tax paid by the two existing group companies, particularly Tay Limited.
Taxation of profits
Profits will be taxed in Portugal. Any profits remitted to the UK as dividends will be taxable as Schedule D Case V income,
but will attract double tax relief. Double tax relief will be available against two types of tax suffered in Portugal. Credit
will be given for any tax withheld on payments from Tagus LDA to Tay Limited and relief will also be available for the
underlying tax as Tay Limited owns at least 10% of the voting power of Tagus LDA. The underlying tax is the tax
attributable to the relevant profits from which the dividend was paid. Double tax relief is given at the lower rate of the
UK tax and the foreign tax (withholding and underlying taxes) suffered.
Losses
As Tagus LDA is a non-UK resident company, losses arising in Tagus LDA cannot be group relieved against profits of the
two UK companies. Similarly, any UK trading losses cannot be used against profits generated by Tagus LDA.
(2) Acquisition of assets
Status
The business of Tagus will be treated as a branch of Tay Limited i.e. an extension of the UK company’s activities. The
number of associated companies will be unaffected.
Taxation of profits
Tay Limited will be treated as having a permanent establishment in Portugal. Profits attributable to the Tagus business
will thus still be taxed in Portugal. In addition, the profits will be taxed in the UK as trading income. Double tax relief
will be available for the tax already suffered in Portugal at the lower of the two rates.
Capital allowances will be available. As the assets in question will not previously have been subject to a claim for UK
capital allowances, there will be no cost restriction and the consideration attributable to each asset will form. the basis
for the capital allowance claim.
Losses
The Tagus trade is part of Tay Limited’s trade, so any losses incurred by the Portuguese trade will automatically be offset
against the trading profits of the UK trade, and vice versa. -
第15题：
3 Spica, one of the director shareholders of Acrux Ltd, has been in dispute with the other shareholders over plans to
expand the company’s activities overseas. In order to resolve the position it has been agreed that Spica will sell her
shares back to the company. Once the purchase of her shares has taken place, the company intends to establish a
number of branches overseas and acquire a shareholding in a number of companies that are resident and trade in
overseas countries.
The following information has been obtained from client files and meetings with the parties involved.
Acrux Ltd:
– An unquoted UK resident company.
– Share capital consists of 50,000 ordinary shares issued at ￡1·90 per share in July 2000.
– None of the other shareholders has any connection with Spica.
The purchase of own shares:
– The company will purchase all of Spica’s shares for ￡8 per share.
– The transaction will take place by the end of 2008.
Spica:
– Purchased 8,000 shares in Acrux Ltd for ￡2 per share on 30 September 2003.
– Has no income in the tax year 2008/09.
– Has chargeable capital gains in the tax year 2008/09 of ￡3,800.
– Has houses in the UK and the country of Solaris and divides her time between them.
Investment in non-UK resident companies:
– Acrux Ltd will acquire between 15% and 20% of each of the non-UK resident companies.
– The companies will not be controlled foreign companies as the rates of tax in the overseas countries will be
between 23% and 42%.
– There may or may not be a double tax treaty between the UK and the overseas countries in which the companies
are resident. Where there is a treaty, it will be based on the OECD model treaty.
– None of the countries concerned levy withholding tax on dividends paid to UK companies.
– The directors of Acrux Ltd are concerned that the rate of tax suffered on the profits of the overseas companies
will be very high as they will be taxed in both the overseas country and in the UK.
Required:
(a) (i) Prepare detailed calculations to determine the most beneficial tax treatment of the payment Spica will
receive for her shares; (7 marks)
正确答案：
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第16题：
ORGANIZING A BUSINESS IN DIFFERENT WAYS Businesses are structured in different ways to meet different needs. The simplest form. of business is called an individual or sole proprietorship. The proprietor owns all of the property of the business and is responsible for everything. Another kind of business is a partnership. Two or more people go into business together. An agreement is usually needed to decide how much of the partnership each person controls. One kind of partnership is called a limited liability partnership. These have full partners and limited partners. Limited partners may not share as much in the profits, but they also have less responsibility for the business. Doctors, lawyers and accountants often form. partnerships to share their risks and profits. A husband and wife can form. a business partnership together. Partnerships exist only for as long as the owners remain alive. The same is true of individual proprietorships. But corporations are designed to have an unlimited lifetime. A corporation is the most complex kind of business organization. Corporations can sell stock as a way to raise money. Stocks represent shares of ownership in a company. Investors who buy stock can trade their shares or keep them as long as the company is in business. A corporation is recognized as an entity-its own legal being, separate from its owners. A board of directors controls corporate policies. The directors appoint top company officers. The directors might or might not hold shares in the corporation. Corporations can have a few major shareholders, or ownership can be spread among the general public. But not all corporations are traditional businesses that sell stock. Some non-profit groups are also organized as corporations.
1. This passage is mainly about ().
A. why different forms of business run
B. when different forms of business raise money
C. how different forms of business are organized
2. What is usually needed to decide the portion of the partnership each person controls?()
A. A rule.
B. An agreement.
C. A regulation.
3. Who are not included in limited liability partnerships?()
A. Full partners.
B. Limited partners.
C. Unlimited partners.
4. How can corporations raise money?()
A. By selling stock.
B. By buying stock.
C. By holding corporation shares.
5. Who controls corporate policies in a corporation?()
A. Chairman of the board.
B. A board of directors.
C. The owner of the corporation.
参考答案:1:C; 2:B;3:C; 4:A;5:B
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第17题：
________ usually sell cheap things in large quantities, or offer only a very limited range of goods.A、Chain stores
B、Discounters
C、Corner shops
D、Groceries
参考答案：B
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第18题：
______ has/have no regular redemption date and can only be redeemed in limited circumstances.
A．ETF
B．LOF
C．Securities investment funds
D．Colsed-end funds
正确答案：D
解析：securities investment funds证券投资基金，包括开放式和封闭式基金。 -
第19题：
How can we best_______ our limited resources?
A、employ
B、utilize
C、enforce
D、enlarge
参考答案：B
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第20题：
Tickets are limited and will be allocated to those who apply first.A:posted
B:sent
C:given
D:handed答案：C解析： -
第21题：
单选题What is the best explanation for the word “gadget” in paragraph 2?AInnovative revolution.
BA small, useful and cleverly designed machine.
CAttractive and fashionable way.
DThe people who have limited ability to see.
正确答案： B解析：
gadget在句子“The competition to make the ultimate communication gadget has two major rules”中的意思是“设备”，含有“小巧、实用”的内涵。因此B是正确答案。 -
第22题：
单选题Due to limited seating, reservations are required.AOne should enquire about the limited seating reservation.
BSeating is limited to those who have reserved.
CIt is possible that you have no seat without reservations.
正确答案： A解析：
题意：因为座位有限，所以需要预订。选项A“应该询问一下如何预订这些数量有限的座位”未提及。选项B“座位只给已经预订的人”，过于绝对，因为如果座位没满，没预订的人也是有可能有座位的。选项C“如果你不预订的话，有可能没有座位”与题意相符。 -
第23题：
单选题Finally， they return the to the people who bought shares in the company.（）Acost
Bprice
Cprofits
正确答案： C解析： 暂无解析