金融英语

Section Three (10%)

Directions：Read the following passages, and determine whether the sentences are “Right” o r “Wrong”. If there is not enough information to answer “Right” or “Wrong”, choose “D oesn’t say”. Then mark the corresponding letter on the ANSWER SHEET by drawing a single li ne through the center.

Passage 1

Liquidity is a measure of how quickly an item may be converted to cash. Therefore, cash is t he most liquid asset. Account receivable is a relatively liquid asset because the business e xpects to collect the amount in cash in the near future. Supplies are less liquid than accou

nts receivable. Users of financial statements are interested in liquidity because business d ifficulties often arise owing to shortage of cash. How quickly can the business convert an a sset to cash and pay a debt? How soon must a liability be paid? These are questions of liqui dity.

51. Long-term assets are all assets other than current assets. A right B wrong C Doesn’t say

52. Supplies are less liquid than accounts receivable, and furniture and buildings are even less so.

A Right

B Wrong

C Doesn’t

53. People are interested in liabilities on the balance sheet because it is relatively liqui d.

A Right

B wrong

C Doesn’t say

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