82.Which of the following payment terms eliminates the exchange risk， assuming the exporter invoices in foreign currency？ ______。
　　A.Confirmed irrevocable documentary credit
　　B.Open account
　　C.Documentary collection D/A
　　D.None of the above
　　83.ABC Co.Ltd.purchased a car for $ 12 000， making a down payment of $5 000 cash and signing a $7 000 note payable due in 60 days.Which of the following is not correct？ ______。
　　A.From the viewpoint of a short-term creditor， this transaction makes the business less solvent
　　B.Total liabilities increased by $7 000
　　C.Total assets increased by $12 000
　　D.This transaction had no immediate effect on the owner's equity in the business
　　84.Which of the following terms of payment will entirely eliminate country risk？ ______。
　　A.Revocable documentary credits
　　B.Confirmed Irrevocable documentary credits
　　C.Documentary collection D/P
　　D.Documentary collection D/A
　　85.The expiry date of a documentary credit is Sunday， 24 February， and documents have to be A presented to you.Which of the following is an acceptable presentation？ （Assume there is no latest stated date for shipment stipulated.） ______。
　　A.Presentation to you on Monday 25 February with the bill of lading dated 25 February
　　B.Presentation on Monday 25 February with the bill of lading dated Sunday 24 February
　　C.Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 February
　　D.Presentation on Friday 22 February with the bill of lading dated Sunday 29 January
　　86.What are the standard deviations of returns on Stocks X and Y respectively？ ______。
　　A.15% and 26%
　　B.24% and 13%
　　C.20% and 4%
　　D.28% and 8%
　　87.Who makes the first presentation of documents under a transferable credit？ ______。
　　A.Applicant
　　B.First beneficiary
　　C.Second beneficiary
　　D.None of the above
　　88.A transaction caused a $10 000 decrease in both total assets and total liabilities.This transaction could have been ______。
　　A.repayment of a $ 10 000 bank loan
　　B.an asset with a cost of $10000 was destroyed by fire
　　C.purchase of a delivery truck for $10 000 cash
　　D.collection of a $10 000 account receivable
　　89.Money ceases to serve as an effective store of value when ______。
　　A.the government runs large deficits
　　B.the unemployment rate is very high
　　C.productivity in the economy declines
　　D.rapid inflation occurs
　　90.An indication that the money supply is greater than the desirable amount would be 。
　　A.insufficient spending and excessive saving
　　B.deflation
　　C.inadequate spending and rising unemployment
　　D.rising wages and prices
　　91.If a nation's interest rates are relatively low compared to those of other countries， then the exchange value of its currency will tend to ______ under a system of exchange rates。
　　A.appreciate…… floating
　　B.depreciate……floating
　　C.appreciate…… fixed
　　D.depreciate…… fixed
　　92.Which of the following is true of a company's balance sheet？ ______。
　　A.It displays sources and uses of cash for the period
　　B.It is unnecessary if both an income statement and a statement of cash flows are available
　　C.It is a separate representation of the company's revenue and expense transactions for the year
　　D.It is an expansion of the basic accounting equation of Assets=Liabilities+Owner's Equity
　　93.When Americans or foreigners expect the return on dollar deposits to be high relative to the return on foreign deposits， there is a ______ demand for dollar deposits and a correspondingly ______ demand for foreign deposits。
　　A.higher…… higher
　　B.lower…… higher
　　C.higher…… lower
　　D.lower……lower
　　94.Velocity is the ______。
　　A.inverse of GNP
　　B.speed at which checking accounts are converted into cash
　　C.relationship between the price level and the money supply
　　D.rate at which money turns over
　　95.Assume that of your $10 000 portfolio， you invest $9 000 in Stock X and $1 000 in Stock Y.What is the expected return on your portfolio？ ______。
　　A.18%
　　B.20%
　　C.19%
　　D.3%
　　96.Which of the following would you expect to find in a correctly prepared income statement？ 。
　　A.Cash balance at the end of the period
　　B.Expenses incurred during the period to earn revenues
　　C.Contributions by the owner during the period
　　D.The reported company's financial position at a specific date
　　97.The concept of beta is most closely associated with ______。
　　A.correlation coefficient
　　B.the capital asset pricing model
　　C.nonsystematic risk
　　D.mean-variance analysis
　　98.The velocity of money for a given year can be calculated by ______。
　　A.dividing GNP by the money supply
　　B.dividing aggregate supply by aggregate demand
　　C.dividing the price level by the money supply
　　D.multiplying the price level by total output
　　99.The theory of purchasing power parity states that exchange rates between any two currencies will adjust to reflect changes in ______。
　　A.the price levels of the two countries
　　B.the current account balances of the two countries
　　C.the fiscal policies of the two countries
　　D.the trade balances of the two countries
　　100.Before issuing a credit， it is important for the issuing bank ______。
　　A.to make certain of the importer's creditworthiness
　　B.to go through the contract terms
　　C.to have a thorough understanding of the exporter
　　D.all of the above
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