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Test 15

Choose the best answer.

1. Financial management is sometimes called … finance.

A corporal B corporate C cooperative

2. Finance is concerned with financial decision-making within a business … .

A entirely B entirety C entity

3. Financial management decisions include … stocks and bonds.

A ensuring B insuring C issuing

4. Financing decisions involve the … of the firm’s funds.

A acquisition B acquaintance C acquittal

5. Many business decisions simultaneously involve both … and financing.

A investing B lending C borrowing

6. The success of the acquisition may depend on selling additional shares of … A stock B stuck C stick

7. The borrowed funds must be repaid within a … period of time.

A special B specified C specific

8. Creditors are those … the money.

A borrowing B lending C investing

9. Funds can be … by selling ownership interests.

A raised B rose C risen

10. Expected return is the difference between potential benefits and potential …

A costs B interests C profits

11. Risk is a degree of uncertainty associated … expected returns.

A with B by C from

12. Financial … is a tool of financial management.

A analyzing B analysis C analyses

13. It is necessary to evaluate the financial … of a firm.

A condition B precondition C condiment

14. Financial managers are primarily concerned … investment and financing decisions.

A about B by with

15. What goals do managers have in … ?

A brain B head C mind

16. The company wants to protect their products … all costs.

A at B by C with

17. The financial objective is to maximize the economic … of the owners.

A well-being B will-being C wealth-being

18. If managers … to borrow money, it must be repaid.

A decide B will decide C would decide

19. It cost him a pretty … .

A penny B pence C pound

20. ‘… on the nail!’ cried the gangster.

A Cash B Money C Quid

Test 16

Choose the best answer.

1. Taxes are levied ... the goods conveyed across the customs border.

A at B for C on

2. Customs payments include … duties and taxes.

A excise B exercise C excision

3. Special ... and compensational duties are stipulated by the Federal Law and the Customs Code of the Russian Federation.

A anti-dumping B anti-smoking C anti-fraud

4. Subject to customs duties and taxes … be the goods conveyed across the customs border.

A shall B will C should

5. The taxable basis of customs duties and taxes comprises the goods customs … and their quantity.

A volume B value C valuta

6. Appraising the goods customs value ... to be based on authentic certified information.

A shall B should C ought

7. The goods customs value is determined by the ... .

A customs officer B declarant C declaration

8. Customs duties shall be calculated using the legal ... of the RF.

A contract B tender C entity

9. Conversion of foreign currency shall be based on the … rate established by the Central Bank of the RF.

A average B annual C exchange

10. The Customs Code ... the terms of payment of customs duties and taxes.

A stipulates B simulates C stimulates

11. Goods can be conveyed across the customs border by natural ... .

A persons B people C men

12. Some goods are imported with partial conditional ... from customs duties and taxes.

A extension B exemption C expansion

13. The penalty fee shall be ... for non-payment (delay of payment) of customs duties and taxes.

A changed B chased C charged

14. Calculation of penalty fees is based on the ... rate.

A finance B refinance C refinement

15. Penalty fees shall be disbursed ... with the due customs duties and taxes.

A currently B concurrently C correctly

16. Dutiable payments are made pursuant ... the Law of the Russian Federation.

A with B to C by

17. … tax shall we pay? – An excise tax.

A who’s B whose C which

18. … idea was it to convey the goods across the border?

A who’s B whose C which

19. These are imported goods ... partial conditional exemption from customs duties and taxes is stipulated by law.

A who’s B whose C which

20. What customs territory are the goods imported ... ?

A in B to C on

SUPPLEMENTARY READING

(Texts for self-study)

Text 1

Read the text and speak on the basic task, origins and functions of management.

From the history of management

Management is often included as a factor of production along with machines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of a management is twofold: marketing and innovation. Practice of modern management owes its origin to the 16th century enquiry into low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). As a discipline, management consists of the interlocking functions of formulating corporate policy and organizing, planning, controlling, and directing an organization’s resources to achieve the policy’s objectives.

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