The textile market was weak and moreover, it has slumped with the US embargo on imports.

】. Its first recorded use was in India【63】cotton cloth of very fine texture, almost【64】 silk, was made. When the Spanish【65】in the New World, they found that the Incas, the Mayas, and the Aztecs knew【66】cotton cloth.【67】of the cotton cloth made in Peru, even before the days of the Incas,【68】that it is kept in museums.

Cotton is the most important of【69】textiles. Even now, with many artificial materials【70】,more than half of all textile products are made of cotton.

Cotton comes【71】a plant of that name. When the plant is mature, the cotton grows in a white ball around the seed. To【72】the cotton for market, the seed【73】from the cotton fiber. This【74】by a machine called the cotton gin. Then cotton is【75】into huge bundles called bales,【76】are sent to the mills.【77】the fibers are combed【78】they will all be turned in the same direction.【79】, the fibers are spun into thread. From the thread, the cotton is woven into【80】.

(46)

A．into

B．out of

C．from

D．through

A.changes

B.charges

C.challenges

D.chances

ticeship in an English spinning mill, he was apparently so worried about the growth, and hence saturation, of the industry in the United Kingdom that, in 1789, without the knowledge of his family, Slater traveled to America at the age of 21. This was done in secret; it was illegal at the time to export anything to the U.S. relating to machinery, including engineers. Also, the U. S. was offering rewards for textile information.

Arriving in New York, it was not long before he learned of the experimental work of Moses Brown and William Almy, in Pawtucket, with more advanced machines than the Spinning Jennys used in New York. Initially without any contract, and working alongside the engineers already employed at the Almy and Brown mill, Slater successfully reworked a spinning frame. along the lines of Arkwright's Water Frame. This three months of work resulted in a partnership with Almy and Brown. He understood the whole spinning process and knew which machines were vital to overall success of a mill.

However, that management training and knowledge really came into its own over the next two years as Slater labored to educate the embryonic textile industry and businessmen in the techniques that had proved so successful in Belper. Without these, Slater believed the industry would not flourish. In particular, his aim was to maximize the output from the machinery and develop the market place in order to sell all the yarn that could be produced. Prior to this, the philosophy of Almy and Brown was to produce only to order. By 1792, Slater had proved, through the use of his Belper-learned management techniques, that he could make spinning a profitable business. This led to building the Old Slater Mill—the first successful U. S. cotton spinning mill. Slater's view was to concentrate on a specific aspect and specialize. The other partners believed in covering the whole textile process through to finished goods, including knitting. As a result, in 1797, Slater broke away and built his own larger mill—the White Mill. Following the success of Slater's business, the cotton industry really took off and over the next ten or so years, over eighty mills developed. Slater has been called both the "Father of American Industry", and the "Founder of the American Industrial Revolution".

What does the second paragraph mainly discuss？

A．Slater's arrival in America.

B．New York and the Almy and Brown mill.

C．The first three months and achievement of a partnership.

D．Slater's understanding of the spinning process.

对话理解

听力原文：W: What kind of monetary policy instruments may your bank use？

M: They include adjusting the base interest rate, regulating rediscounting and open market operations.

Q: Which of the following wasn't mentioned by the man as a monetary policy？

(11)

A．The minimum deposit reserve.

B．Adjusting the base interest rate.

C．Regulating rediscounting.

D．Open market operations.

fixed-term deposits.

W: That's right. So banks usually offer slightly lower interest rates on them.

Q: Which of the following has a higher rate？

(13)

A．CDs.

B．Demand deposits.

C．Fixed-term deposits.

D．Building societies deposits.

mpany, Concrete Solutions

Ltd, manufacturing a range of concrete based products used in making roads, pavements and walkways. The

production technology is very low tech and uses simple wooden moulds into which the concrete is poured. As a

consequence he is able to use low skilled and low cost labour, which would find it difficult to find alternative

employment in a region with high unemployment levels. The company has employed many of its workforce since its

creation in 1996. The company’s products are heavy, bulky and costly to transport. This means its market is limited

to a 30-mile area around the small rural town where the manufacturing facility is located. Its customers are a mix of

private sector building firms and public sector local councils responsible for maintaining roads and pavements. By its

nature much of the demand is seasonal and very price sensitive.

A large international civil engineering company has recently approached Clyde with an opportunity to become a

supplier of concrete blocks used in a sophisticated system for preventing coast and riverbank erosion. The process

involves interlocking blocks being placed on a durable textile base. Recent trends in global warming and pressure in

many countries to build in areas liable to flooding have created a growing international market for the patented erosion

prevention system. Clyde has the opportunity to become the sole UK supplier of the blocks and to be one of a small

number of suppliers able to export the blocks to Europe. To do it he will need to invest a significant amount in CAM

(computer aided manufacturing) technology with a linked investment in the workforce skills needed to operate the

new technology. The net result will be a small increase in the size of the labour force but redundancy for a significant

number of its existing workers either unwilling or unable to adapt to the demands of the new technology. Successful

entry into this new market will reduce his reliance on the seasonal low margin concrete products he currently produces

and significantly improve profitability.

One further complication exists. Concrete Solutions is located in a quiet residential area of its home town. Clyde is

under constant pressure from the local residents and their council representatives to reduce the amount of noise and

dust created in the production process. Any move into making the new blocks will increase the pollution problems

the residents face. There is a possibility of moving the whole manufacturing process to a site on a new industrial estate

being built by the council in a rival town. However closure of the existing site would lead to a loss of jobs in the current

location. Clyde has asked for your help in resolving his dilemma.

Required:

(a) Using models where appropriate, advise Clyde on whether he should choose to take advantage of the

opportunity offered by the international company. (12 marks)

. How about reporting it in the profit and loss account？

W: Wait a minute. According to the Prudence Concept, if the market price is higher than the cost, the higher amount is ignored in the accounts.

Q: Why can't they record the gains right now？

(16)

A．Because of the prudence concept.

B．Because of the materiality concept.

C．Because of the matching principle.

D．Because of the Dual Aspects Concept.

for __________.

A.animal farming and textile industry

B.agriculture and textile industry

C.animal farming and shipbuilding

D.none of the above

听力原文：M: Hello, I'd like to buy 2, 500 shares of MFST. What's the market？

W: Let me check it for you. Just a moment, please. NYSE is presently 32. 65 bid, 32. 72 asked, last trade at 32. 68 up a nickel. Volume is 12, 500. The Dow is down 33 points. 1, 000 are offered at 32. 72 and another 500 at 32. 75.

M: Please buy 2, 500 D&M at 32. 70 with 10 cents discretion good for today only.

W: OK, I have got it. I will call you as soon as we have a fill.

Where does this conversation take place？

A．In a supermarket

B．In a bank

C．At a stock exchange

D．At a trade fair

A.With the strong support of all parties, the East China Export Commodities Fair has been held more and more successfully, attracting the attention of Chinese and foreign merchants, and has become an important window for export and market information exchange.###SXB###B.By the strong support of all parties, the East China Export Commodities Fair has more success, attracting the attention of Chinese and foreign merchants, and become an important w