3 Seejoy is a famous football club but has significant cash flow problems. The directors a

(d) Player trading

Another proposal is for the club to sell its two valuable players, Aldo and Steel. It is thought that it will receive a

total of $16 million for both players. The players are to be offered for sale at the end of the current football season

on 1 May 2007. (5 marks)

Required:

Discuss how the above proposals would be dealt with in the financial statements of Seejoy for the year ending

31 December 2007, setting out their accounting treatment and appropriateness in helping the football club’s

cash flow problems.

(Candidates do not need knowledge of the football finance sector to answer this question.)

A.anxious

B.famous

C.responsible

D.homesick

(c) Issue of bond

The club proposes to issue a 7% bond with a face value of $50 million on 1 January 2007 at a discount of 5%

that will be secured on income from future ticket sales and corporate hospitality receipts, which are approximately

$20 million per annum. Under the agreement the club cannot use the first $6 million received from corporate

hospitality sales and reserved tickets (season tickets) as this will be used to repay the bond. The money from the

bond will be used to pay for ground improvements and to pay the wages of players.

The bond will be repayable, both capital and interest, over 15 years with the first payment of $6 million due on

31 December 2007. It has an effective interest rate of 7·7%. There will be no active market for the bond and

the company does not wish to use valuation models to value the bond. (6 marks)

Required:

Discuss how the above proposals would be dealt with in the financial statements of Seejoy for the year ending

31 December 2007, setting out their accounting treatment and appropriateness in helping the football club’s

cash flow problems.

(Candidates do not need knowledge of the football finance sector to answer this question.)

In the East, the countryside is green and fresh. Here are some of the first states and some of the big cities. New York and the capital, Washington D.C., are in the East.

In the South, there is the beautiful city of New Orleans, the capital of jazz. It is sometimes hot here, and the people here are very different from those in the East.

The Central Plains of the United States are fertile with big fields of wheat and corn.

In the South-West it is often hot and dry. But the deserts and mountains are beautiful. And California, on the West coast, is famous as a “paradise” state.

The weather in the Mid-West, near the Great Lake, is often cold and windy, and there is a lot of snow in winter.

(1)、It’s well-known that the United States has many different kinds of ______. ()

A、landscapes

B、people

C、climates

D、all of the above

(2)、Some of the first states and some of the big cities are in the East, including ______. ()

A、Washington D.C.

B、New Orleans

C、California

D、Los Angeles

(3)、Big fields of wheat and corn can be found in______. ()

A、East

B、the Central Plains

C、the South-West

D、the South

(4)、New Orleans is famous for its ______. ()

A、ballet

B、country music

C、jazz

D、classic music

(5)、In the fifth paragraph, the word “paradise” means ______. ()

A、wonderful

B、clean

C、terrible

D、large

Robert J. Oppenheimer was a famous American physicist, who directed the【1】of the first atomic bombs.

Oppenheimer was born in New York City on April 22, 1904, and was educated at Harvard University and the universities of Cambridge. After【2】the International Education Board from 1928 to 1929, he became a professor of physics at the University of California and the California Institute of Technology, where he built up large【3】of theoretical physics. He was noted for his contributions【4】to the theory of relativity, cosmic rays, and neutron stars.

From 1943 to 1945 , Oppenheimer served as director of the atomic bomb project at Los Alamos, New Mexico. His leadership and organizational skills【5】him the Presidential Medal of Merit in 1946. In 1947 he became director of the Institute for Advanced Studies in Princeton, New Jersey, serving there【6】the year before his death. He was also chairman of the General Advisory Committee of the Atomic Energy Commission from 1947 to 1952 and served【7】as an adviser. In 1954, however, he was suspended from this position【8】his past association with Communists. This action【9】the political atmosphere of the time, as well as the dislike of some politicians and military【10】for Oppenheimer's opposition to development of the hydrogen bomb and his【11】of arms control. His【12】was not really in doubt.【13】, efforts were made to clear his name, and in 1963 the AEC【14】him its highest honor, the Enrico Fermi Award. Oppenheimer【15】his final years to study of the relationship between science and society. He died in Princeton on February 18, 1967.

(1)

A．orientation

B．manipulation

C．development

D．management

Mo Yan is ______ Nobel Prize.

A: famous as

B: famous for

C: famous to

D: famous of

A.famous for

B.famous as

C.famous to

D.famous of