CH13课堂练习答案
范里安-微观经济学现代观点-第8版-第八版-ch13-风险资产(含全部习题解答)-东南大学曹乾
Intermediate Microeconomics:A Modern Approach (8th Edition)Hal R. Varian范里安中级微观经济学：现代方法（第8版）完美中文翻译版）含全部习题详细解答）第13章：风险资产（含全部习题详细解答风险资产（曹乾译（东南大学caoqianseu@）13风险资产在上一章，我们分析了不确定性情形下的个人行为模型，以及保险市场和股票市场这两种经济制度的作用。
在本章我们进一步分析股票市场如何分散风险的。
为做此事，最好从一个简化的不确定性行为模型进行分析。
13.1均值—方差效用在上一章我们分析了不确定性情形下的选择问题，我们是用期望效用函数进行分析的。
这样的问题还有另外一类分析方法，即用一些参数（parameters ）描述选择的目标，然后将效用函数视为这些参数的函数。
这类方法中最为流行的就是均值．．—．方差模型．．．．（mean-variance model ）。
在均值—方差方法中，我们不再认为消费者的偏好取决于他的财富在每种可能结果上的整个概率分布，而是假设他的偏好可用几个关于他财富概率分布的统计量进行描述。
令随机变量w 取值s w 的概率为s π（其中S s ,...,2,1=）。
w 概率分布的均值．．（mean ）就是它的加权平均值：s Ss s w w ∑==1πµ.上式就是加权平均值的计算公式：每个结果s w 以它自身发生的概率s π作为权重（即s s w π），然后全部相加（一）。
w 概率分布的方差．．（variance ）是2)(w u w −的加权平均值： 212)(w S s s wu w −=∑=πσ. 方差衡量分布的“分散性”，因此可用来衡量风险。
还有一种相近的衡量方法，称为标准差．．．（standard deviation ），用w σ表示，它是方差的平方根：2w w σσ=.概率分布的均值衡量它的加权平均值，即这些分布围绕着的那个数值。
部编版一年级语文上册第13课《乌鸦喝水》课后练习题(附答案)
部编版一年级语文上册
第13课《乌鸦喝水》课后练习题（附答案）
1. 补全下列字的音节。
p xi f zh b
旁想放找办
2.填一填。
一（）乌鸦一（）瓶子一（）石子
3.照样子，写句子。
乌鸦把小石子一颗一颗地放进瓶子里。
爸爸把。
把。
4.阅读展示厅。
乌鸦把小石子一颗一颗地放进瓶子里。
瓶子里的水渐渐升高，乌鸦就喝着水了。
（1）这段话有句话。
（2）“渐渐”的意思是。
①轻轻②慢慢
（3）乌鸦把放进瓶子，水面，就喝着水了。
5.如果你是乌鸦，你会想出什么办法喝到水？
参考答案：
1. áng ǎng àng ǎo àn
2. 只个颗
3.饭做好了弟弟书包弄丢了
4.（1）2（2）②（3）石子升高
5.我会找个吸管吸水喝。
2024二年级北师大语文上学期期末复习〔有答案〕
2024二年级北师大语文上学期期末复习〔有答案〕班级：_____________ 姓名：_____________拼音词组1. 看拼音，写词语。
liǎnɡɡènǎɡèkuān chǎnɡtóu dǐnɡyǎn zhūdùzi shùpíxiǎo hái tiào yuǎn dài zǒu2. 我会看拼音，写词语，还能把字写漂亮。
bànɡwǎn xièxie zhǎn kāi jiānɡlái yězhūqún shān lín jūqíɡuài dài lǐnɡbiǎn dan3. 看拼音，写词语。
bèi kéqián bìyǒu ɡuān cái fù（________）（________）（________）（________）jīdàn chǎo fàn qiézi shāo kǎo（________）（________）（________）（________）4. 读拼音，写词语。
jīnɡlínɡāyíyóu xìzhōu wéi bǔchōnɡ（_________）（_________）（_________）（_________）（_________）pìɡǔshǐjìn sēn lín mǔqīn zuòmènɡ（_________）（_________）（_________）（_________）（_________）5. 看拼音，写词语。
rèn wéi qún shān qíguài shuǐguǒlǎo xiāng nán wàng xiàn zài zhàn shì笔画训练6. 下列说法中，完全正确的一项是（）A．“养”“演”“葱”“营”的韵母都是后鼻音韵母。
物流专业英语(第5版)Ch13 课后练习答案[5页]
![物流专业英语(第5版)Ch13 课后练习答案[5页]](https://img.taocdn.com/s3/m/2c30c6ab70fe910ef12d2af90242a8956becaad3.png)
CH 13 第13章 LOGISTICS DOCUMENTS 2第1课 TRANSPORT DOCUMENTS (1)I. Translate the following Chinese terms into Englishbooking note mate’s receipt container load plan air waybilldelivery order short discharge shipping document maritime transport stevedoring company tally sheet outturn report business connections loading list negotiation of payment mode of transport road waybillII. Translate the following English terms into Chinese出口货物托运委托书装货单集装箱场站收据设备交接单铁路运单货物舱单货代收货证明理货公司运费舱单贷代运输证明积载图书面证明交接货物出港货物理货组长海关报关手续大副航运公司货物备妥待运舱位/舱容集装箱码头III. Challenging questions for discussion1. The main types of transport documents are shipper’s letter of instruction, booking note, shipping order, mat e’s receipt, dock receipt, container load plan, bill of lading, delivery order, equipment interchange receipt, sea waybill, air waybill, railway bill, road waybill, cargo manifest, forwarders’ certificate of receipt, forwarders’ certificate of transport, etc.2. The main types of shipping documents are booking note, shipping order, stowage plan, tally sheet, mate’s receipt, cargo manifest, freight manifest, outturn report, bill of lading, and delivery order, etc.3. The circulation of the relevant shipping documents is as follows:(1) The shipper (or consignor) makes an application to a shipping company or its agent for the shipment of goods by filling in a booking note (B/N).(2) After the acceptance of the booking note, the shipping company issues a shipping order (S/O) to the shipper, advising him of when and where to deliver the goods alongside the named ship.(3) The shipper, on the strength of the S/O, goes through the customs declaration formalities for outward goods and gets the goods ready for shipment.(4) The agent prepares a loading list for the ship according to the S/O.(5) The chief officer works out a stowage plan. A number of copies are sent to thetally company and stevedoring company through the agent for the arrangement of loading and discharge.(6) The chief tallyman checks all goods loaded on board against the tally sheets and signs the S/O.(7) The chief officer, by reference to the tally, endorses the S/O, which then automatically becomes the mate’s receipt (M/R) to be issued to the shipper after loading.(8) After paying for the freight (prepaid), the shipper turns over the M/R to the shipping company or agent in exchange for the bill of lading.(9) The shipper sends the B/L and other relevant documents to the bank for negotiation of payment.(10) The agent makes out for the ship a suitable number of copies of the export manifest (M/F) and freight manifest (F/M), which are required by the customs at the local port as well as other ports of call.(11) The consignee secures the B/L from the bank by effecting the payment for goods.(12) The consignee presents the B/L to the shipping company or agent in exchange for the delivery order (D/O), by which he takes delivery of goods at the warehouse.4. Not necessary.IV. Be familiar with each column of the shipping documents given below 略第2课 TRANSPORT DOCUMENTS (2)I. Translate the following Chinese terms into Englishmarine or ocean B/L receipt of goods shipped B/L direct B/Lclean B/L order B/L open B/L through B/Llong form B/L scheduled route multimodal transport operator liner B/Lcharter party freight charge maritime transportation documentestimated time of arrival (ETA)II. Translate the following English terms into Chinese运输合同的证明正本提单合法持有人集装箱识别码/集装箱号码附有条款提单/不清洁提单简式提单/略式提单货物所有权凭证/物权凭证记名提单转船提单备运提单可转让提单/可流通提单不可转让提单/不可流通提单多式联运提单租船提单出口舱单预计离开时间码头监管人员不清洁提单III. Judge whether the following statements are true or false1. T2. T3. F4. T5. FIV. Challenging questions for discussion1. The mate’s receipt.2. Bill of lading is a transport document issued by the carrier or its agent to the shipper admitting that goods have been received for shipment to a particular destination and stating the terms on which the goods are to be carried.3. bill of lading functions as a receipt of goods by the carrier evidencing receipt of the goods from the consignor, evidence of a contract of carriage between the shipper and the carrier containing the conditions on which transport is made, and a document of title to the goods in the sense that the lawful holder/owner of the B/L is the lawful owner of the goods and the carrier will only release the goods at the stipulated port of destination against the presentation of the original B/L.4. Fifteen types of marine B/L are mentioned in this part. They can be classified into the following categories in accordance with different criteria.(1) In terms of whether or not the goods are on boardShipped B/L (or On Board B/L) is issued by the carrier or its agent when all the goods are loaded on board the ship, and must bear the name of the ship and the date of shipment.Received for Shipment B/L is issued by the carrier or its agent when the goods are under his control before loaded on board the ship. The importer does not favor it, and usually the L/C will require the exporter to present shipped B/L for negotiation at the bank. However, with the development of container transport, received for shipment Bs/L are being increasingly applied.(2) On the basis of the apparent condition of goods notedW hen the shipping company writes on the B/L “The goods loaded are in apparent good order”, this B/L is a Clean B/L or an Unclaused B/L.When the shipping line gives such an indication as “The goods loaded are not in apparent good order” or “The packing is broken or … is polluted, etc.”, this B/L is a n Unclean B/L or a foul B/L or a claused B/L, and non-negotiable at the bank.(3) In the light of different characteristics of consigneesStraight B/L has a specified name in the column of consignee, which means that the goods can only be received by the specified person and the B/L cannot be transferred to a third person.Order B/L does not have a specified name but the phraseology of “To orde r”, or “To the order of …” in the column of consignee. This kind of B/L can be transferred to others by endorsement, thus called negotiable B/L, and widely used in international trade.Open B/L has neither the consignee’s name nor the phraseology of “To order” fill in the column of consignee. This type of B/L is also called negotiable B/L, and can be negotiable without endorsement, and ownership of the goods passes when the B/L is handed over to anyone. Owing to the exceedingly high risk involved, this B/L is rarely used.(4) In accordance with modes of transportUnder Direct B/L, the goods will be directly carried to the port of destination without transshipment. Under Transshipment B/L, the goods will be transshipped in transit.Through B/L is a development of these two Bs/L. Under Through B/L, the goods will at least be carried by two different modes of transport as sea-land or land-sea and taken charge of by different carriers during transport before arriving at the port of destination. A multimodal transport operator responsible for the whole voyage issues Combined Transport B/L, involving two or more different kinds of transport. This kind of B/L is usually used in container transport and may be a Received for Shipment B/L, but a Through B/L must be a Clean Shipped B/L.(5) In conformity with the detailed or simplified clausesLong Form B/L has detailed clauses printed on its back concerning the transport of goods so as to solve any possible transport disputes, while short Form B/L does not have such clauses on its back.(6) In compliance with the types of vesselLiner B/L is issued by the carrier when the goods are shipped on a regular liner vessel with scheduled route and reserved berth at destination, while charter party B/L is issued by a charterer of a ship to the exporter.5. Straight B/L has a specified name in the column of consignee, which means that the goods can only be received by the specified person and the B/L cannot be transferred to a third person. So it is also called non-negotiable B/L, and thus it is not commonly used in international trade and normally applies to high-value shipments or goods for special purposes.V. Make out the B/L according to the L/C given below略第3课 TRANSPORT DOCUMENTS (3)I. Translate the following Chinese terms into Englishmultimodal transport consignment note multimodal transport contract express delivery service courier receipt dock receipt multimodal transport document take delivery of goods port authority document for clearance Atlantic route short trafficsII. Translate the following English terms into Chinese航空运输克尽职责货运指示用于清关的源单据邮政特快专递服务敦豪速递公司联邦快递联合包裹服务公司铁路运单《国际公路货物运输公约》《国际铁路货物运输公约》III. Challenging questions for discussion1. The air waybill is approximately equivalent to the sea freight B/L, but it is not a document of title to goods or a negotiable instrument in the same way as is an ocean B/Lbecause the cargo would arrive at the destination airport days or sometimes weeks before the air waybill’s arrival via the banking system. Therefore, the consignee is allowed to take delivery of the goods before receiving the air waybill.2. A multimodal transport document evidences the contract of carriage of goods by at least two modes of transport, such as shipping by rail and by sea, issued by a multimodal transport operator under a multimodal transport contract.3. The difference between an MTD and a through B/L is as follows: Through B/L used for ocean transport always covers sea transport together with any other modes of transport, but multimodal transport document(MTD) may be applied to any kind of combined transport，not necessary connected with sea transport. This document can be either negotiable or non-negotiable, and usually non-negotiable.4. The function of a dock receipt is used to transfer responsibility when the export goods is moved by the domestic carrier to the port of shipment and left with the international carrier for movement to its final destination.IV. Be familiar with each column of the transport documents given below 略。
微观经济学(平狄克鲁宾费尔德)第六版课后答案--微观经济学 英文原版-CH13PINDYCK
Chapter 13
8ห้องสมุดไป่ตู้
Noncooperative vs. Cooperative Games
“The strategy design is based on understanding your opponent’s point of view, and (assuming your opponent is rational) deducing how he or she is likely to respond to your actions.” (Text, p. 475)
Typically bid more for the dollar when faced with loss as second highest bidder
Chapter 13
10
Acquiring a Company
Scenario
Company A: The Acquirer Company T: The Target A will offer cash for all of T’s shares
Chapter 13
7
Noncooperative vs. Cooperative Games
Noncooperative Game
Negotiation and enforcement of binding contracts between players is not possible
Buyer and seller negotiating the price of a good or service or a joint venture by two firms (i.e., Microsoft and Apple) Binding contracts are possible
新概念英语二册Lessons 13课后练习答案
新概念英语二册Lessons 13课后练习答案新概念英语其次册第13课词汇学习 Word studymeet(1)vt., vi. (偶然)遇见，遇到：(2)vt. (商定地点或时间)和……会面，迎接：Most of the young people in the town will be meeting them at the station.镇上的大局部青年人将到车站迎接他们。
Who will be meeting you when you arrive in London?你到伦敦时谁将去接你?(3)vt. (经介绍)和……相识/见面：I”d like to meet your brother.我很想熟悉你兄弟。
Very pleased to meet you.熟悉您特别快乐。
performance n.(1)执行，完成，履行：He is praised for the excellent performance of his duties.他由于精彩地履行了自己的职责而受到了表扬。
(2)表现，工作状况：His performance in the mathematics exam is not very good.他数学考得不太好。
(3)演出，表演：The pop singers will give five performances.这些流行歌手将演出5场。
新概念英语其次册第13课练习答案 Key to written exercises1.关键句型练习答案A will be arriving (1.2); will be coming (1.3); will be meeting(1.4); will be singing (1.5); will be staying (1.6); will be trying (1.8)C 1 I”ll be ironing the clothes.2 The train will be arriving in a few minutes.3 We”ll be seeing you in the morning.4 We”ll be watching the match.5 He”ll be correcting exercise books.2.难点练习答案1 It”s George”s.2 It”s Jean”s.3 It”s that woman”s.4 I like Keats” poetry best.5 They”re the children”s.6 They”re the soldiers”.7 I”ll leave in six hours time.8 There was a hundred pounds” worth of damage.3.多项选择题答案1 b2 d3 b4 c5 a6 b7 b 8 c 9 a 10 a 11a 12 d。
七年级上册语文部编版课时练《第13课 植树的牧羊人》01(含答案)
答卷时应注意事项１、拿到试卷，要认真仔细的先填好自己的考生信息。
２、拿到试卷不要提笔就写，先大致的浏览一遍，有多少大题，每个大题里有几个小题，有什么题型，哪些容易，哪些难，做到心里有底；３、审题，每个题目都要多读几遍，不仅要读大题，还要读小题，不放过每一个字，遇到暂时弄不懂题意的题目，手指点读，多读几遍题目，就能理解题意了；容易混乱的地方也应该多读几遍，比如从小到大，从左到右这样的题；４、每个题目做完了以后，把自己的手从试卷上完全移开，好好的看看有没有被自己的手臂挡住而遗漏的题；试卷第１页和第２页上下衔接的地方一定要注意，仔细看看有没有遗漏的小题；５、中途遇到真的解决不了的难题，注意安排好时间，先把后面会做的做完，再来重新读答题；６、卷面要清洁，字迹要清工整，非常重要；７、做完的试卷要检查，这样可以发现刚才可能留下的错误或是可以检查是否有漏题，检查的时候，用手指点读题目，不要管自己的答案，重新分析题意，所有计算题重新计算，判断题重新判断，填空题重新填空，之后把检查的结果与先前做的结果进行对比分析。
亲爱的小朋友，你们好!经过两个月的学习，你们一定有不小的收获吧，用你的自信和智慧，认真答题，相信你一定会闯关成功。
相信你是最棒的！部编版七年级语文上册《13植树的牧羊人》课时练【基础积累】1．根据拼音写出相应的词语。
（1）如果他kāng kǎi（）无私，不图回报，还给这世界留下了许多，那就可以肯定地说，这是一个难得的好人。
（2）我在倒塌的房屋旁边支起zhàng peng（）。
（3）这里虽然成了fèi xū（），但是，像马蜂窝一样、一间挨一间的房子周围，总会有一口水井，或是一眼泉水吧!（4）我确实找到了一个泉眼，可惜已经gān hé（）了。
（5）旁边还有一座教堂，钟楼也已经tān tā（）了。
（6）狂风hūxiào（）着穿过破房子的缝隙，像一只饥饿的野兽发出吼叫。
（7）在我眼里，他就像这块bùmáo zhīdì（）上涌出的神秘泉水。
离散数学习题答案-ch10-ch13-2015
习题十1、设G是一个（n,m）简单图；证明：m≤C(n,2)等号成立，当且仅当G是完全图证明：此题有两个内容，第一方面证明简单图满足 m≤C(n,2)，第二证明，m=C(n,2)当且仅当G是完全图(1): 因为在简单无向图中，每个结点的最大度数为n-1，所以图的总度数的上限为n(n-1),所以边的上限为n(n-1)/2，因此任意一个简单无像图G，其边数满足：m≤n(n-1)/2= C(n,2) (2)：m=C(n,2) ⇒ G是完全图因为，当m=C(n,2)时，全图的总度数为n(n-1),因此其平均点度为(n-1)，因为n阶简单无向图中点度的最大值为（n-1）,所以此时每个点的度数都相同并为（n-1）,根据完全图的定义，此图为完全图G是完全图⇒ m=C(n,2)当G为完全图时，既每个结点都和其他结点相邻，所以全图的总边数 m = n(n-1)/2 = C(n,2)4、证明：在（n,m）图中δ≤2m/n≤Δ证明：因为2m/n 代表简单无向图的平均点度值，所以平均值大于等于最小值，小于等于最大值，结论成立6、设G是（n,m）简单二部图，证明：m≤n2/4证明：设G的两个顶点集合中顶点个数分别为n1,n2，并有 n = n1 + n2 (1式)；同时，在简单二部图中，当其为完全二部图是，其边数最大，及max(m) = n1 ×n2 (2式)；联立（1）（2）式，通过高等数学的知识，当n1=n2=1/2n时，max(m)取得最大值 n2/4 ，所以一般（n,m）简单二部图，其边数小于等于此最大值既 m≤n2/49、如果G ≌ G’，称G是自补图；确定一个图为自补图的最低条件：画出一个自补图解：因为G和自己的补图同构，那么G和G’应该有相等条数的边，所以 m = m’，又因为m + m’= n(n-1)/2，所以G的边的条数必须满足m = n(n-1)/4.因此图G的阶数或阶数减一必需是4的倍数，这就是最低条件。
HullOFOD9eSolutionsCh13第九版期权、期货及其他衍生品课后答案
CHAPTER 13 Binomial TreesPractice QuestionsProblem 13.1.A stock price is currently $40. It is known that at the end of one month it will be either $42 or $38. The risk-free interest rate is 8% per annum with continuous compounding. What is the value of a one-month European call option with a strike price of $39?Consider a portfolio consisting of 1-: Call option +∆: SharesIf the stock price rises to $42, the portfolio is worth 423∆-. If the stock price falls to $38, it is worth 38∆. These are the same when42338∆-=∆ or 075∆=.. The value of the portfolio in one month is 28.5 for both stock prices. Its value today must be the present value of 28.5, or 0080083332852831e -.⨯..=.. This means that 402831f -+∆=.where f is the call price. Because 075∆=., the call price is 400752831$169⨯.-.=.. As an alternative approach, we can calculate the probability, p , of an up movement in a risk-neutral world. This must satisfy: 0080083334238(1)40p p e .⨯.+-= so that 00800833344038p e .⨯.=-or 05669p =.. The value of the option is then its expected payoff discounted at the risk-free rate: 008008333[305669004331]169e -.⨯.⨯.+⨯.=. or $1.69. This agrees with the previous calculation.Problem 13.2.Explain the no-arbitrage and risk-neutral valuation approaches to valuing a European option using a one-step binomial tree.In the no-arbitrage approach, we set up a riskless portfolio consisting of a position in the option and a position in the stock. By setting the return on the portfolio equal to the risk-free interest rate, we are able to value the option. When we use risk-neutral valuation, we first choose probabilities for the branches of the tree so that the expected return on the stock equals the risk-free interest rate. We then value the option by calculating its expected payoff and discounting this expected payoff at the risk-free interest rate.Problem 13.3.What is meant by the delta of a stock option?The delta of a stock option measures the sensitivity of the option price to the price of the stock when small changes are considered. Specifically, it is the ratio of the change in theprice of the stock option to the change in the price of the underlying stock.Problem 13.4.A stock price is currently $50. It is known that at the end of six months it will be either $45 or $55. The risk-free interest rate is 10% per annum with continuous compounding. What is the value of a six-month European put option with a strike price of $50?Consider a portfolio consisting of 1-: Put option +∆: SharesIf the stock price rises to $55, this is worth 55∆. If the stock price falls to $45, the portfolio is worth 455∆-. These are the same when 45555∆-=∆or 050∆=-.. The value of the portfolio in six months is 275-. for both stock prices. Its value today must be the present value of 275-., or 010********e -.⨯.-.=-.. This means that 502616f -+∆=-.where f is the put price. Because 050∆=-., the put price is $1.16. As an alternative approach we can calculate the probability, p , of an up movement in a risk-neutral world. This must satisfy: 01055545(1)50p p e .⨯.+-= so that 010*******p e .⨯.=-or 07564p =.. The value of the option is then its expected payoff discounted at the risk-free rate: 0105[007564502436]116e -.⨯.⨯.+⨯.=. or $1.16. This agrees with the previous calculation.Problem 13.5.A stock price is currently $100. Over each of the next two six-month periods it is expected to go up by 10% or down by 10%. The risk-free interest rate is 8% per annum with continuous compounding. What is the value of a one-year European call option with a strike price of $100?In this case 110u =., 090d =., 05t ∆=., and 008r =., so that0080509007041110090e p .⨯.-.==..-.The tree for stock price movements is shown in Figure S13.1. We can work back from the end of the tree to the beginning, as indicated in the diagram, to give the value of the option as $9.61. The option value can also be calculated directly from equation (13.10): 22200805[0704121207041029590029590]961e -⨯.⨯..⨯+⨯.⨯.⨯+.⨯=. or $9.61.Figure S13.1: Tree for Problem 13.5Problem 13.6.For the situation considered in Problem 13.5, what is the value of a one-year European put option with a strike price of $100? Verify that the European call and European put prices satisfy put –call parity.Figure S13.2 shows how we can value the put option using the same tree as in Problem 13.5. The value of the option is $1.92. The option value can also be calculated directly from equation (13.10): 20080522[0704102070410295910295919]192e -⨯.⨯..⨯+⨯.⨯.⨯+.⨯=.or $1.92. The stock price plus the put price is 10019210192$+.=.. The present value of the strike price plus the call price is 008110096110192e $-.⨯+.=.. These are the same, verifyingthat put –call parity holds.Figure S13.2: Tree for Problem 13.6Problem 13.7.What are the formulas for u and d in terms of volatility?u e =and d e -=Problem 13.8.Consider the situation in which stock price movements during the life of a European option are governed by a two-step binomial tree. Explain why it is not possible to set up a position in the stock and the option that remains riskless for the whole of the life of the option.The riskless portfolio consists of a short position in the option and a long position in ∆ shares. Because ∆ changes during the life of the option, this riskless portfolio must also change.Problem 13.9.A stock price is currently $50. It is known that at the end of two months it will be either $53 or $48. The risk-free interest rate is 10% per annum with continuous compounding. What is the value of a two-month European call option with a strikeprice of $49? Use no-arbitrage arguments.At the end of two months the value of the option will be either $4 (if the stock price is $53) or $0 (if the stock price is $48). Consider a portfolio consisting of:shares1option+∆:-:The value of the portfolio is either 48∆ or 534∆- in two months. If48534∆=∆- i.e.,08∆=. the value of the portfolio is certain to be 38.4. For this value of ∆ the portfolio is therefore riskless. The current value of the portfolio is: 0850f .⨯-where f is the value of the option. Since the portfolio must earn the risk-free rate of interest010212(0850)384f e .⨯/.⨯-=.i.e.,223f =.The value of the option is therefore $2.23.This can also be calculated directly from equations (13.2) and (13.3). 106u =., 096d =. so that01021209605681106096e p .⨯/-.==..-. and010212056814223f e -.⨯/=⨯.⨯=.Problem 13.10.A stock price is currently $80. It is known that at the end of four months it will be either $75or $85. The risk-free interest rate is 5% per annum with continuous compounding. What is the value of a four-month European put option with a strike price of $80? Use no-arbitrage arguments.At the end of four months the value of the option will be either $5 (if the stock price is $75) or $0 (if the stock price is $85). Consider a portfolio consisting of:shares1option-∆:+:(Note: The delta, ∆ of a put option is negative. We have constructed the portfolio so that it is +1 option and -∆ shares rather than 1- option and +∆ shares so that the initial investment is positive.)The value of the portfolio is either 85-∆ or 755-∆+ in four months. If 85755-∆=-∆+ i.e.,05∆=-. the value of the portfolio is certain to be 42.5. For this value of ∆ the portfolio is therefore riskless. The current value of the portfolio is: 0580f .⨯+where f is the value of the option. Since the portfolio is riskless005412(0580)425f e .⨯/.⨯+=.i.e.,180f =.The value of the option is therefore $1.80.This can also be calculated directly from equations (13.2) and (13.3). 10625u =., 09375d =. so that00541209375063451062509375e p .⨯/-.==..-. 103655p -=. and005412036555180f e -.⨯/=⨯.⨯=.Problem 13.11.A stock price is currently $40. It is known that at the end of three months it will be either $45 or $35. The risk-free rate of interest with quarterly compounding is 8% per annum. Calculate the value of a three-month European put option on the stock with an exercise price of $40. Verify that no-arbitrage arguments and risk-neutral valuation arguments give the same answers.At the end of three months the value of the option is either $5 (if the stock price is $35) or $0 (if the stock price is $45).Consider a portfolio consisting of:shares1option-∆:+:(Note: The delta, ∆, of a put option is negative. We have constructed the portfolio so that it is +1 option and -∆ shares rather than 1- option and +∆ shares so that the initial investment is positive.)The value of the portfolio is either 355-∆+ or 45-∆. If:35545-∆+=-∆i.e.,05∆=-.the value of the portfolio is certain to be 22.5. For this value of ∆ the portfolio is therefore riskless. The current value of the portfolio is 40f -∆+where f is the value of the option. Since the portfolio must earn the risk-free rate of interest (4005)102225f ⨯.+⨯.=. Hence 206f =. i.e., the value of the option is $2.06.This can also be calculated using risk-neutral valuation. Suppose that p is the probability of an upward stock price movement in a risk-neutral world. We must have 4535(1)40102p p +-=⨯. i.e., 1058p =. or: 058p =.The expected value of the option in a risk-neutral world is:00585042210⨯.+⨯.=. This has a present value of210206102.=..This is consistent with the no-arbitrage answer.Problem 13.12.A stock price is currently $50. Over each of the next two three-month periods it is expected to go up by 6% or down by 5%. The risk-free interest rate is 5% per annum with continuous compounding. What is the value of a six-month European call option with a strike price of $51?A tree describing the behavior of the stock price is shown in Figure S13.3. The risk-neutral probability of an up move, p , is given by00531209505689106095e p .⨯/-.==..-. There is a payoff from the option of 561851518.-=. for the highest final node (which corresponds to two up moves) zero in all other cases. The value of the option is therefore 2005612518056891635e -.⨯/.⨯.⨯=.This can also be calculated by working back through the tree as indicated in Figure S13.3. The value of the call option is the lower number at each node in the figure.Figure S13.3:Tree for Problem 13.12Problem 13.13.For the situation considered in Problem 13.12, what is the value of a six-month European put option with a strike price of $51? Verify that the European call and European put prices satisfy put–call parity. If the put option were American, would it ever be optimal to exercise it early at any of the nodes on the tree?The tree for valuing the put option is shown in Figure S13.4. We get a payoff of-.=.if -.=.if the middle final node is reached and a payoff of 51451255875 515035065the lowest final node is reached. The value of the option is therefore2005612.⨯⨯.⨯.+.⨯.=.(06520568904311587504311)1376e-.⨯/This can also be calculated by working back through the tree as indicated in Figure S13.4. The value of the put plus the stock price is.+=.137********The value of the call plus the present value of the strike price is005612e-.⨯/.+=.16355151376This verifies that put–call parity holdsTo test whether it worth exercising the option early we compare the value calculated for the option at each node with the payoff from immediate exercise. At node C the payoff from-.=.. Because this is greater than 2.8664, the option should immediate exercise is 5147535be exercised at this node. The option should not be exercised at either node A or node B.Figure S13.4:Tree for Problem 13.13Problem 13.14.A stock price is currently $25. It is known that at the end of two months it will be either $23 or $27. The risk-free interest rate is 10% per annum with continuous compounding. Suppose T S is the stock price at the end of two months. What is the value of a derivative that pays off2T S at this time?At the end of two months the value of the derivative will be either 529 (if the stock price is 23) or 729 (if the stock price is 27). Consider a portfolio consisting of:shares1derivative+∆:-:The value of the portfolio is either 27729∆- or 23529∆- in two months. If2772923529∆-=∆- i.e.,50∆= the value of the portfolio is certain to be 621. For this value of ∆ the portfolio is therefore riskless. The current value of the portfolio is: 5025f ⨯-where f is the value of the derivative. Since the portfolio must earn the risk-free rate of interest 010212(5025)621f e .⨯/⨯-= i.e., 6393f =. The value of the option is therefore $639.3.This can also be calculated directly from equations (13.2) and (13.3). 108u =., 092d =. so that01021209206050108092e p .⨯/-.==..-. and 010212(0605072903950529)6393f e -.⨯/=.⨯+.⨯=.Problem 13.15.Calculate u , d , and p when a binomial tree is constructed to value an option on a foreign currency. The tree step size is one month, the domestic interest rate is 5% per annum, the foreign interest rate is 8% per annum, and the volatility is 12% per annum.In this case (005008)11209975a e .-.⨯/==.010352u e .==.109660d u =/=.0997509660045531035209660p .-.==..-.Problem 13.16.The volatility of a non-dividend-paying stock whose price is $78, is 30%. The risk-free rate is 3% per annum (continuously compounded) for all maturities. Calculate values for u, d, and p when a two-month time step is used. What is the value of a four-month European call option with a strike price of $80 given by a two-step binomial tree. Suppose a trader sells 1,000 options (10 contracts). What position in the stock is necessary to hedge the trader’s position at the time of the trade?4898.08847.01303.18847.08847.0/11303.112/230.01667.030.0=--=====⨯⨯e p u d e uThe tree is given in Figure S13.5. The value of the option is $4.67. The initial delta is 9.58/(88.16 – 69.01) which is almost exactly 0.5 so that 500 shares should be purchased.Figure S13.5: Tree for Problem 13.16Problem 13.17.A stock index is currently 1,500. Its volatility is 18%. The risk-free rate is 4% per annum (continuously compounded) for all maturities and the dividend yield on the index is 2.5%. Calculate values for u, d, and p when a six-month time step is used. What is the value a 12-month American put option with a strike price of 1,480 given by a two-step binomial tree.4977.08805.01357.18805.08805.0/11357.15.0)025.004.0(5.018.0=--=====⨯-⨯e p u d e uThe tree is shown in Figure S13.6. The option is exercised at the lower node at the six-month point. It is worth 78.41.Figure S13.6: Tree for Problem 13.17Problem 13.18.The futures price of a commodity is $90. Use a three-step tree to value (a) a nine-month American call option with strike price $93 and (b) a nine-month American put option with strike price $93. The volatility is 28% and the risk-free rate (all maturities) is 3% with continuous compounding.4651.08694.01503.18694.018694.0/11503.125.028.0=--=====⨯u u d e u The tree for valuing the call is in Figure S13.7a and that for valuing the put is in Figure S13.7b. The values are 7.94 and 10.88, respectively.824637Figure S13.7a : CallFigure S13.7b : PutFurther QuestionsProblem 13.19.The current price of a non-dividend-paying biotech stock is $140 with a volatility of 25%. The risk-free rate is 4%. For a three-month time step: (a) What is the percentage up movement? (b) What is the percentage down movement?(c) What is the probability of an up movement in a risk-neutral world? (d) What is the probability of a down movement in a risk-neutral world?Use a two-step tree to value a six-month European call option and a six-month European put option. In both cases the strike price is $150.(a) 25.025.0⨯=e u = 1.1331. The percentage up movement is 13.31% (b) d = 1/u = 0.8825. The percentage down movement is 11.75%(c) The probability of an up movement is 5089.0)8825.1331.1/()8825.()25.004.0=--⨯e (d) The probability of a down movement is0.4911.The tree for valuing the call is in Figure S13.8a and that for valuing the put is in Figure S13.8b. The values are 7.56 and 14.58, respectively.Figure S13.8a : CallFigure S13.8b : PutProblem 13.20.In Problem 13.19, suppose that a trader sells 10,000 European call options. How many shares of the stock are needed to hedge the position for the first and second three-month period? For the second time period, consider both the case where the stock price moves up during the first period and the case where it moves down during the first period.The delta for the first period is 15/(158.64 – 123.55) = 0.4273. The trader should take a long position in 4,273 shares. If there is an up movement the delta for the second period is 29.76/(179.76 – 140) = 0.7485. The trader should increase the holding to 7,485 shares. If there is a down movement the trader should decrease the holding to zero.Problem 13.21.A stock price is currently $50. It is known that at the end of six months it will be either $60 or $42. The risk-free rate of interest with continuous compounding is 12% per annum. Calculate the value of a six-month European call option on the stock with an exercise price of $48. Verify that no-arbitrage arguments and risk-neutral valuation arguments give the same answers.At the end of six months the value of the option will be either $12 (if the stock price is $60) or $0 (if the stock price is $42). Consider a portfolio consisting of:shares1option+∆:-:The value of the portfolio is either 42∆ or 6012∆- in six months. If426012∆=∆- i.e.,06667∆=. the value of the portfolio is certain to be 28. For this value of ∆ the portfolio is therefore riskless. The current value of the portfolio is: 0666750f .⨯-where f is the value of the option. Since the portfolio must earn the risk-free rate of interest01205(0666750)28f e .⨯..⨯-=i.e.,696f =.The value of the option is therefore $6.96.This can also be calculated using risk-neutral valuation. Suppose that p is the probability of an upward stock price movement in a risk-neutral world. We must have 0066042(1)50p p e .+-=⨯ i.e., 181109p =. or: 06161p =.The expected value of the option in a risk-neutral world is:120616100383973932⨯.+⨯.=. This has a present value of 00673932696e -..=.Hence the above answer is consistent with risk-neutral valuation.Problem 13.22.A stock price is currently $40. Over each of the next two three-month periods it is expected to go up by 10% or down by 10%. The risk-free interest rate is 12% per annum with continuous compounding.a. What is the value of a six-month European put option with a strike price of $42?b. What is the value of a six-month American put option with a strike price of $42?a. A tree describing the behavior of the stock price is shown in Figure S13.9. The risk-neutral probability of an up move, p , is given by012312090065231109e p .⨯/-.==..-.Calculating the expected payoff and discounting, we obtain the value of the option as 2012612[24206523034779603477]2118e -.⨯/.⨯⨯.⨯.+.⨯.=.The value of the European option is 2.118. This can also be calculated by working back through the tree as shown in Figure S13.9. The second number at each node is the value of the European option.b. The value of the American option is shown as the third number at each node on the tree. It is 2.537. This is greater than the value of the European option because it is optimal to exercise early at node C.40.0002.1182.53744.000 0.8100.81036.0004.7596.00048.4000.0000.00039.6002.4002.40032.4009.6009.600ABCFigure S13.9: Tree to evaluate European and American put options in Problem 13.22. At each node, upper number is the stock price, the next number is the European put price, and the final number is the American put priceProblem 13.23.Using a “trial -and-error” approach, estimate how high the strike price has to be in Problem 13.17 for it to be optimal to exercise the option immediately.Trial and error shows that immediate early exercise is optimal when the strike price is above 43.2. This can be also shown to be true algebraically. Suppose the strike price increases by a relatively small amount q . This increases the value of being at node C by q and the value of being at node B by 0030347703374e q q -..=.. It therefore increases the value of being at node A by003(065230337403477)0551q q e q -..⨯.+.=.For early exercise at node A we require 253705512q q .+.<+ or 1196q >.. This corresponds to the strike price being greater than 43.196.Problem 13.24.A stock price is currently $30. During each two-month period for the next four months it is expected to increase by 8% or reduce by 10%. The risk-free interest rate is 5%. Use a two-step tree to calculate the value of a derivative that pays off 2[max(300)]T S -, whereT S is the stock price in four months? If the derivative is American-style, should it be exercised early?This type of option is known as a power option. A tree describing the behavior of the stock price is shown in Figure S13.10. The risk-neutral probability of an up move, p , is given by005212090602010809e p .⨯/-.==..-. Calculating the expected payoff and discounting, we obtain the value of the option as393.5]3980.049.323980.06020.027056.0[12/405.02=⨯+⨯⨯⨯⨯-eThe value of the European option is 5.393. This can also be calculated by working back through the tree as shown in Figure S13.10. The second number at each node is the value of the European option. Early exercise at node C would give 9.0 which is less than 13.2435. The option should therefore not be exercised early if it is American.Figure S13.10: Tree to evaluate European power option in Problem 13.24. At each node, upper number is the stock price and the next number is the option priceProblem 13.25.Consider a European call option on a non-dividend-paying stock where the stock price is $40, the strike price is $40, the risk-free rate is 4% per annum, the volatility is 30% per annum, and the time to maturity is six months.a. Calculate u , d , and p for a two step treeb. Value the option using a two step tree.c. Verify that DerivaGem gives the same answerd. Use DerivaGem to value the option with 5, 50, 100, and 500 time steps.0.0000 29.1600 0.705624.3000 32.4900 F(a) This problem is based on the material in Section 13.8. In this case 025t ∆=.so that03011618u e .==., 108607d u =/=., and00402508607049591161808607e p .⨯.-.==..-.(b) and (c) The value of the option using a two-step tree as given by DerivaGem is shown in Figure S13.11 to be 3.3739. To use DerivaGem choose the first worksheet, select Equity as the underlying type, and select Binomial European as the Option Type. After carrying out the calculations select Display Tree.(d) With 5, 50, 100, and 500 time steps the value of the option is 3.9229, 3.7394, 3.7478, and 3.7545, respectively.Figure S13.11: Tree produced by DerivaGem to evaluate European option in Problem 13.25Problem 13.26.Repeat Problem 13.25 for an American put option on a futures contract. The strike price and the futures price are $50, the risk-free rate is 10%, the time to maturity is six months, and the volatility is 40% per annum.(a) In this case 025t ∆=.and 04012214u e .==., 108187d u =/=., and0102508187045021221408187e p .⨯.-.==..-.(b) and (c) The value of the option using a two-step tree is 4.8604.(d) With 5, 50, 100, and 500 time steps the value of the option is 5.6858, 5.3869, 5.3981, and 5.4072, respectively.Problem 13.27.Footnote 1 shows that the correct discount rate to use for the real world expected payoff inAt each node:Upper v alue = Underlying Asset PriceLower v alue = Option Price Values in red are a result of early exercise.Strike price = 40Discount factor per step = 0.9900Time step, dt = 0.2500 years, 91.25 daysGrowth factor per step, a = 1.0101Probability of up mov e, p = 0.4959Up step size, u = 1.16180.00000.25000.5000the case of the call option considered in Figure 13.1 is 42.6%. Show that if the option is a put rather than a call the discount rate is –52.5%. Explain why the two real-world discount rates are so different.The value of the put option is012312.⨯+.⨯=.(065230034773)10123e-.⨯/The expected payoff in the real world is.⨯+.⨯=.(070410029593)08877The discount rate R that should be used in the real world is therefore given by solving025.=.1012308877Re-.-.or 52.5%.The solution to this is 0525The underlying stock has positive systematic risk because it expected return is higher than the risk free rate. This means that the stock will tend to do well when the market does well. The call option has a high positive systematic risk because it tends to do very well when the market does well. As a result a high discount rate is appropriate for its expected payoff. The put option is in the opposite position. It tends to provide a high return when the market does badly. As a result it is appropriate to use a highly negative discount rate for its expected payoff.Problem 13.28.A stock index is currently 990, the risk-free rate is 5%, and the dividend yield on theindex is 2%. Use a three-step tree to value an 18-month American put option with astrike price of 1,000 when the volatility is 20% per annum. How much does the option holder gain by being able to exercise early? When is the gain made?The tree is shown in Figure S13.12. The value of the option is 87.51. It is optimal to exercise at the lowest node at time one year. If early exercise were not possible the value at this node would be 236.63. The gain made at the one year point is therefore 253.90 – 236.63= 17.27.Figure 13.12: Tree for Problem 13.28Problem 13.29.Calculate the value of nine-month American call option on a foreign currency using athree-step binomial tree. The current exchange rate is 0.79 and the strike price is 0.80 (both expressed as dollars per unit of the foreign currency). The volatility of the exchange rate is 12% per annum. The domestic and foreign risk-free rates are 2%and 5%, respectively. Suppose a company has bought options on 1 million units of the foreign currency. What position in the foreign currency is initially necessary to hedge its risk?The tree is shown in Figure S13.13. The cost of an American option to buy one million units of the foreign currency is $18,100. The delta initially is (0.0346 −0.0051)/(0.8261 – 0.7554) = 0.4176. The company should sell 417,600 units of the foreign currencyFigure S13.13: Tree for Problem 13.29。
DaAn(ch13)
第13章习题参考答案1.库存物资有几种分类方法？参考答案：大致有如下几种分类方法：A. 库存按其在生产中的作用分类(1) 主要原材料(2) 辅助材料(3) 燃料和动力(4) 维修用备件B. 按库存物资存在状态分类(1) 原材料库存(2) 成品库存(3) 零部件库存(4) 备件库存(5) 在制品库存3. 按库存用途分类(1) 经常性库存(2) 安全库存(3) 季节性库存2.库存成本由那几种成本组成？参考答案：（1）订货成本或调整成本：企业为补充库存而进行订货时发生的各种费用之和。
订货成本通常包括订货手续费、物资运输装卸费、验收入库费、采购人员差旅费以及通讯联络费等。
调整成本的产生主要是由于生产系统在转换生产的产品时，通常对设备进行调整而造成短期的停工，同时改产的初期生产效率通常也较低，上述损失统称为调整成本。
（2）存储成本：是物资在存储过程中发生的成本。
主要包括物资在存储过程中发生变质、损失、丢失等自然损失的费用，库存物资占用资金的成本，以及仓库运营管理的人工费、税金的支出。
（3）购置成本：即购买物资耗费的货款。
（4）缺货成本：即由于无法满足用户的需求而产生的损失。
3.ABC分析法的工作原理与分类的具体方法，为什么该法可用于库存的重点控制工作。
参考答案：该方法的基本思路是，将企业的库存物资按其占用资金的多少，依次划分为A、B、C三大类：A类物资占用企业库存资金最多，其品种数虽仅占库存物资总数的10%到20%，但占用的库存资金通常可达70%到80%；B类物资是占用企业库存资金次多，其品种数可占到库存物资总数的20%到25%，占用的库存资金通常在15%到20%；C类物资是企业物资中品种数最多的，其品种数可占到库存物资总数的60%到65%，而C类物资占用的库存资金的总和却仅为5%到10%。
并通过对不同的库存物资采用不同的管理方法，增强管理的针对性，达到简化管理程序，提高管理效率的目的。
对库存物资进行ABC分类后，企业可以对不同类别的物资，视情况采取不同的控制策略。
徐寿昌主编《有机化学》(第二版)-课后1-13章习题答案
H·+Cl2HCl +·Cl△H3
(1)计算各步△H值：
(2)为什么这个反应历程比2.7节所述历程可能性小？
解：
(1)△H1＝+243Jk/mole
△H2＝435-349＝+86Jk/mole
△H3＝243-431＝-188Jk/mol
(2)因为这个反应历程△H2＝435-349＝+86Jk/mole而2.7节
（4）
1－己烯－5－炔
（5）
2－氯－3－己炔
（6）
4－乙烯基－4－庚烯－2－炔
（7）
1，3，5－己三烯
3．写出下列化合物的构造式。
（1）
4－甲基－1－戊炔
（2）
3－甲基－3－戊烯－1－炔
（3）
二异丙基乙炔
（4）
1，5－己二炔
（5）
异戊二烯
（6）
丁苯橡胶
（7）
乙基叔丁基乙炔
4．写出1－丁炔与下列试剂作用的反应式。
1．2，2，3，3－四甲基戊烷2，2，3－二甲基庚烷
3、2，2，4－三甲基戊烷4、2，4－二甲基－4－乙基庚烷
5、2－甲基－3－乙基己烷6、三乙基甲烷
7、甲基乙基异丙基甲烷8、乙基异丁基叔丁基甲烷
3.用不同符号表示下列化合物中伯、仲、叔、季碳原子
4.下列各化合物的命名对吗？如有错误的话，指出错在那里？试正确命名之。
（2）计算链增长一步△H值。
解：链引发：Cl22 Cl·
链增长：CH3CH3+·Cl CH3CH2·+ HCl
CH3CH2·+ Cl2CH3CH2Cl + Cl·
部编版小学一年级上学期语文期中综合复习课后练习单〔有答案〕
部编版小学一年级上学期语文期中综合复习课后练习单〔有答案〕班级：_____________ 姓名：_____________看拼音写词语1. 看拼音，写词语。
xiǎo cǎo hónɡhuāhónɡhuo nǐmen bǎi huātāmen hónɡmùhónɡyún lǜcǎo huǒhuā2. 读拼音，写汉字。
1．我爱喝kěkǒu kě乐。
2．tián lǐ长出很多hé苗。
3．小chónɡzi飞进le dà象的ěr朵。
3. 读拼音，写词语。
gǔjīn qiūliáng táo lǐxīyángtáo zi héfēng xìyǔniǎo yǔhuāxiāng4. 读拼音，写汉字。
mén kǒu guǎng dàfēi zǒu kāi huìběi jīng dàmén5. 拼一拼，写一写。
kěshìkāi kǒu nǚér dōng xīsān yuèyuèér ěr mùkāi tóu笔画填空6. 填一填。
（1）“到”字共有____画，第六笔是______笔顺是：____________ （2）“那”字共有____画，第五笔是______。
笔顺是：____________ （3）“色”共有____画，第四笔是______，笔顺是____________（4）“外”是____结构，共____画，第二笔是_____。
7. 按要求填一填。
（1）“虫”共有_________________画，第五笔是_________________。
（2）“云”的第三笔是_________________，可以组词为_________________、_________________。
五年级语文第13课练习题及答案
【篇二】五年级语文第13课练习题及答案
一、读拼音，写汉字。
小嘎子在家里跟人摔跤，一向zhàng（ ）着手疾眼快，不愿意和小胖墩儿一叉一lǒu（ ）。起初，小嘎子围着小胖墩儿hóu（ ）儿似地蹦来蹦去，仿佛很占了上风。终于三抓两náo（ ），jiū（ ）在了一起，任凭小嘎子推拉拽顶，硬是bān（ ）不动小胖墩儿，小嘎子刚想用脚wàn（ ）子去勾小胖墩儿的腿，不料反给他把脚别住了，趁势往旁侧里一推，咕咚一声，小嘎子摔了个仰面朝天。
3.爱财胜过生命的守财奴。
【篇三】五年级语文第13课练习题及答案
1.看拼音写词语。
shuāijiāo biānpào qīfu bāndǎo tìtóu bāhén zhínǚ tǔtán
6.读画“____”的句子，从中你体会到的人物什么特点。
五、比一比，组词语。
铸（ ） 剃（ ） 腮（ ） 疤（ ）
涛（ ） 弟（ ） 鳃（ ） 病（ ）
六、阅读课文选段，完成练习。
他的身量与筋肉都发展到年岁前边去。二十来岁，他已经很大很高，虽然肢体还没被年月铸成一定的格局，可是已经象个成人了——一个脸上身上都带出天真淘气的样子的大人。看着那高等的车夫，他计划着怎样杀进他的腰去，好更显出他的铁扇面似的胸，与直硬的背；扭头看看自己的肩，多么宽，多么威严！杀好了腰，再穿上肥腿的白裤，裤脚用鸡肠子带儿系住，露出那对“出号”的大脚！是的，他无疑的可以成为最出色的车夫；傻子似的他自己笑了。
四、
1.shì
2.仗着手疾眼快，从不单凭力气，而是不断变换摔跤动作与方式。
3.不是真正的武器枪与鞭，在这里表示特殊的含义
4.精神抖擞 沉不住气
5.动作 心理
6.顽皮、机敏、争强好胜、富有心计
财务会计英语 练习及答案ch13
财务会计英语练习及答案ch13CHAPTER 13 ACCOUNTING FOR PARTNERSHIPS AND LIMITED LIABILITY CORPORATIONSChapter 13—Accounting for Partnerships and Limited Liability Corporations TRUE/FALSE1. There are only four legal structures to form and operate a business.ANS: F DIF: 1 OBJ: 012. In a general partnership, each partner is individually liable to creditors for debtsincurred by the partnership, to the extent of the partner's capital balance.ANS: F DIF: 1 OBJ: 013. A partnership is a legal entity separate from its owners.ANS: F DIF: 1 OBJ: 014. A partnership is subject to federal income taxes.ANS: F DIF: 1 OBJ: 015. A disadvantage of partnerships is the mutual agency of all partners.ANS: T DIF: 1 OBJ: 016. Each partnership must have a written partnership agreement.ANS: T DIF: 1 OBJ: 017. Each partner may withdraw the assets he or she contributed to the partnership at anytime.ANS: F DIF: 2 OBJ: 018. When compared to a corporation, one of the major disadvantages of the partnership isits limited life.ANS: T DIF: 1 OBJ: 019. When compared to a corporation, one of the major advantages of a partnership is itsease of formation.ANS: T DIF: 1 OBJ: 0131710. Under a Subchapter S Corporation, the IRS allows income to pass through thecorporation to the individual stockholders without the corporation having to pay taxes on the income.ANS: T DIF: 2 OBJ: 0111. A Limited Liability Corporation is a business entity form that combines theadvantages of the corporation and the partnership forms.ANS: T DIF: 1 OBJ: 0112. For tax purposes, a Limited Liability Corporation may elect to be treated as apartnership.ANS: T DIF: 1 OBJ: 0113. The Limited Liability Corporation may elect to be manager managed rather thanmember managed which means that only authorized members may legally bind the corporation.ANS: T DIF: 1 OBJ: 0114. Each partner has a separate capital and withdrawal account.ANS: T DIF: 1 OBJ: 0215. The chart of accounts for a partnership, with the exception of drawing and capitalaccounts, does not differ from the chart of accounts for a sole proprietorship.ANS: T DIF: 1 OBJ: 0216. When there are significant changes in stockholders equity, generally, a retainedearnings statement is not sufficient, requiring a statement of stockholders' equity to be prepared.ANS: T DIF: 1 OBJ: 0217. The equity reporting for a Limited Liability Corporation is similar to that of apartnership but the changes in capital are shown on a statement of members' equity.ANS: T DIF: 1 OBJ: 0218. When a partner invests noncash assets in a partnership, the assets are recorded at thepartner's book value.ANS: F DIF: 2 OBJ: 0331819. Accounts receivable contributed to the partnership are recorded at their face value.ANS: T DIF: 1 OBJ: 0320. A new partner contributes accounts receivable to a partnership which appear in theledger of his sole proprietorship at $ 20,500 and there was an allowance for doubtful accounts of $ 750. If $600 of the accounts receivables are completely worthless, the partnership accounts receivable should be debited for $19,900.ANS: T DIF: 2 OBJ: 0321. One reason that distributions of income and loss are prepared is to obtain theinformation to record a closing entry.ANS: T DIF: 1 OBJ: 0422. If nothing is stated, partnership income is divided in proportion to the individualpartner's capital balance.ANS: F DIF: 2 OBJ: 0423. The salary allocation to partners used in dividing net income would also appear assalary expense on the partnership income statement.ANS: F DIF: 2 OBJ: 0424. If the articles of partnership provide for annual salary allowances of $36,000 and$18,000 to X and Y respectively and net income is $30,000, X's share of net income is $20,000.ANS: F DIF: 2 OBJ: 0425. If the net income of a partnership is less than the total of the allowances provided bythe partnership agreement, the difference must be divided among the partners in the income-sharing ratio.ANS: F DIF: 2 OBJ: 0426. The amount that a partner withdraws as a monthly salary allowance does not affectthe division of net income.ANS: T DIF: 2 OBJ: 0431927. A devotes full time and B devotes one-half time to their partnership. If thepartnership agreement is silent concerning the division of net income, A will receive a $20,000 share of a net income of $30,000.ANS: F DIF: 2 OBJ: 0428. In the distribution of income, the net income is less than the salary and interestallowances granted, the remaining balance will be a negative amount that must bedivided among the partners as though it were a loss.ANS: T DIF: 2 OBJ: 0429.Details of the division of partnership income should normally be disclosed in thefinancial statements.ANS: T DIF: 2 OBJ: 0430. Whenever a partnership is dissolved, the assets are liquidated.ANS: F DIF: 1 OBJ: 0531. When a partnership dissolves, a new partnership is formed and a new partnershipagreement should be prepared.ANS: T DIF: 1 OBJ: 0532. Many partnerships provide for the admission of new partners or withdrawals ofpresent partners in the partnership agreement so that the firm may continue tooperate without executing a new agreement.ANS: T DIF: 1 OBJ: 0533. A person may be admitted to a partnership only with the consent of all the currentpartners.ANS: T DIF: 1 OBJ: 0534. Partnership's asset accounts should be changed from cost to fair market value when anew partner is admitted to a firm or an existing partner withdraws and dies.ANS: T DIF: 2 OBJ: 0532035. In admitting a new partner, the company chooses to use the purchase of an interestmethod, the capital interest of the new partner is obtained from the current partners and both the total assets and total capital are increased.ANS: F DIF: 2 OBJ: 0536. When a new partner purchases the entire interest of an old partner, the new partner'scapital account should be credited for the amount he or she paid to the old partner.ANS: F DIF: 2 OBJ: 0537. If a new partner is given a 20% interest in the firm then the new partner will receive a20% interest in earnings.ANS: F DIF: 2 OBJ: 0538. When a new partner is admitted by making an investment in the partnership, the oldpartners' capital accounts are always credited.ANS: F DIF: 1 OBJ: 0539. When a new partner is admitted by making an investment of assets in the partnershipand the new partner has to pay a premium for admission, a bonus is divided among the old partners' capital accounts.ANS: T DIF: 2 OBJ: 0540. Williams has a capital balance of $42,000 after adjusting the assets to fair market value.Mantle contributes $22,000 to receive a 30% interest in the new partnership. Thebonus paid by Mantle is $2,800.ANS: T DIF: 2 OBJ: 0541. When a partner withdraws from the partnership, the partnership dissolves.ANS: T DIF: 1 OBJ: 0542. If not enough partnership cash or other assets are available to pay the withdrawingpartner, a liability may be created for the amount owed the withdrawing partner.ANS: T DIF: 1 OBJ: 0543. When a partner withdraws from the partnership by selling his or her interest back tothe partnership, the remaining partners must pay the withdrawing partner a specified amount from their personal assets.321ANS: F DIF: 2 OBJ: 0544. X sells to A one-half of a partnership capital interest that totals $70,000 for $40,000.A's capital account in the partnership should be credited for $40,000.ANS: F DIF: 2 OBJ: 0545. When a new partner is admitted to a partnership, all partnership assets should berevised to reflect current prices.ANS: T DIF: 1 OBJ: 0546. If a new partner is to be admitted to a partnership and a bonus is attributed to the oldpartnership, the bonus should be divided between the capital accounts of the original partners according to their capital balances.ANS: F DIF: 2 OBJ: 0547. If retiring partner A sells his or her interest to B, the partnership should record theassets paid to A in its accounts at their book values.ANS: F DIF: 2 OBJ: 0548. When a new partner is admitted to a partnership, bonuses attributable to either theold partnership or to the incoming partner may be recognized in accordance with the agreement among the partners.ANS: T DIF: 1 OBJ: 0549. Dissolution is the term which solely means to liquidate the partnership.ANS: F DIF: 1 OBJ: 0650. In a partnership liquidation, gains and losses on the sale of partnership assets aredivided among the partners' capital accounts on the basis of their capital balances.ANS: F DIF: 2 OBJ: 0651. If the share of losses on realization of the sale of noncash assets exceed the balance in apartner's capital account, the resulting balance is called a deficiency.ANS: T DIF: 1 OBJ: 0652. In a partnership liquidation, if a partner has a debit capital balance in his or hercapital account, he or she is responsible for contributing personal assets sufficient to eliminate the deficit.322ANS: T DIF: 2 OBJ: 0653. The process of winding up the affairs of a partnership is referred to as realization.ANS: F DIF: 1 OBJ: 0654. The distribution of cash, as the final process in winding up the affairs of a partnership,is based on the income-sharing ratio.ANS: F DIF: 2 OBJ: 0655. If a partner's capital balance is a debit after it has absorbed its share of the loss onrealization, the balance is referred to as a deficiency.ANS: T DIF: 1 OBJ: 0656. In the liquidating process, any uncollected cash becomes a loss to the partnership andis divided among the remaining partners' capital balances based on theirincome-sharing ratio.ANS: T DIF: 2 OBJ: 0657. After all noncash assets have been converted to cash and all liabilities paid, A, B, and Chave capital balances of $10,000 (debit), $5,000 (debit), and $25,000 (credit). The cash available for distribution to the partners is $10,000.ANS: T DIF: 2 OBJ: 0658. After all noncash assets have been converted to cash and all liabilities paid, A, B, and Chave capital balances of $15,000 (credit), $10,000 (debit), and $30,000 (credit). C's share of the cash to be distributed is $30,000.ANS: F DIF: 2 OBJ: 0659. A venture capitalist is an individual or firm that provides credit financing to thecompany.ANS: F DIF: 1 OBJ: 0760. IPO is an acronym that stands for initial public offeringANS: T DIF: 1 OBJ: 0761. Underwriting firms or investment bankers help a company not only determine theoffering price for it stock, but also help market the stock to their clients and the public.ANS: T DIF: 1 OBJ: 07323MULTIPLE CHOICE1. Which of the following is characteristic of a general partnership?a. The partners have co-ownership of partnership property.b. The partnership is subject to federal income tax.c. The partnership has an unlimited life.d. The partners have limited liability.ANS: A DIF: 1 OBJ: 012. Which of the following is not a characteristic of a general partnership?a. the partnership is created by a contractb. mutual agencyc. partners share equally in net income or net losses unless an agreement statesdifferentlyd. dissolution occurs only when all partners agreeANS: D DIF: 1 OBJ: 013. Which of the following is an advantage of a partnership when compared to acorporation?a. The partnership is more likely have a net income.b. The partnership is relatively inexpensive to organize.c. The partnership involves fewer people to operate.d. The partnership usually hires professional managers.ANS: B DIF: 1 OBJ: 014. Which of the following is a disadvantage of a partnership when compared to acorporation?a. The partnership is more likely to have a net loss.b. The partnership is easier to organize.c. The partnership is less expensive to organize.d. The partnership has limited life.ANS: D DIF: 1 OBJ: 015. An advantage of the partnership form of business organization isa. unlimited liabilityb. mutual agencyc. ease of formationd. limited life324ANS: C DIF: 1 OBJ: 016. The characteristic of a partnership that gives the authority to any partner to legallybind the partnership and all other partners to business contracts is calleda. unlimited liabilityb. ease of formationc. mutual agencyd. dissolutionANS: C DIF: 1 OBJ: 017. When a limited partnership is formeda. the partnership activities are limitedb. all partners have limited liabilityc. some of the partners have limited liabilityd. none of the partners have limited liabilityANS: C DIF: 1 OBJ: 018. Which of the following below is not one of the four major forms of business entitiesthat are discussed in this chapter?a. sole proprietorshipb. corporationc. partnershipd. subchapter s corporationANS: D DIF: 1 OBJ: 019. Which of the following below is not a characteristic of a Limited LiabilityCorporation?a. limited lifeb. limited liabilityc. file articles of organization with the state governmentd. avoids mutual agencyANS: D DIF: 2 OBJ: 0110. Accounting for the day-to-day activities for a partnership or Limited LiabilityCorporation isa. the same as the accounting for any other form of businessb. the same as the accounting for a sole proprietorship onlyc. is not the same as the accounting for any other form of businessd. the same as the accounting for a corporation onlyANS: A DIF: 1 OBJ: 0211. When a partnership is formed, assets contributed by the partners should be recordedon the partnership books at theira. book values on the partners' books prior to their being contributed to thepartnershipb. fair market value at the time of the contributionc. original costs to the partner contributing themd. assessed values for property purposesANS: B DIF: 2 OBJ: 0312. As part of the initial investment, a partner contributes equipment that had originallycost $100,000 and on which accumulated depreciation of $75,000 has been recorded.If similar equipment would cost $150,000 to replace and the partners agree on avaluation of $40,000 for the contributed equipment, what amount should be debited to the equipment account?a. $40,000b. $150,000c. $100,000d. $75,000ANS: A DIF: 2 OBJ: 0313. As part of the initial investment, Oswald contributes accounts receivable that had abalance of $25,000 in the accounts of a sole proprietorship. Of this amount, $1,250 is completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $750. The amount debited to Accounts Receivable for the new partnership isa. $23,000b. $25,000c. $24,250d. $23,750ANS: D DIF: 2 OBJ: 0314. Jack and Jill share income and losses in a 2:1 ratio after allowing for salaries to Jack of$24,000 and $30,000 to Jill. Net income for the partnership is $48,000. Income should be divided as follows:a. Jack, $24,000; Jill, $24,000b. Jack, $21,000; Jill, $27,000c. Jack, $32,000; Jill, $16,000d. Jack, $20,000; Jill, $28,000ANS: D DIF: 2 OBJ: 0415. Fred and Ethel share income equally. During the current year the partnership netincome was $40,000. Fred made withdrawals of $12,000 and Ethel made withdrawals of $17,000. At the beginning of the year, the capital account balances were: Fredcapital, $42,000; Ethel capital, $58,000. Fred's capital account balance at the end of the year isa. $76,500b. $64,500c. $62,000d. $50,000ANS: D DIF: 2 REF: 0416. Partnership income and losses are usually divided on the basis of interest, salaries, andstated ratios becausea. partners seldom contribute time and resources equallyb. this method reflects the amount of time devoted to the partnership by thepartnersc. it is simpler than following the legal rulesd. it prevents arguments among the partnersANS: A DIF: 1 OBJ: 0417. A ratio of 3:2:1 is the same asa. 30%:20%:10%b. 1/2:1/3:1/6c. 3/10:2/10:1/20d. both (a) and (c)ANS: B DIF: 2 OBJ: 0418. C and D form a partnership in which C contributes $50,000 in assets and agrees todevote half time to the partnership. D contributed $40,000 in assets and agrees to devote full time to the partnership. How will C and D share in the division ofincome?a. 5:8b. 1:2c. 1:1d. 5:4ANS: C DIF: 2 OBJ: 0419. X and Y have original investments of $50,000 and $100,000 respectively in apartnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net income of $90,000 is allocated to X?a. $60,000b. $43,000c. $45,000d. $47,000ANS: D DIF: 3 OBJ: 0420. X and Y have original investments of $50,000 and $100,000 respectively in apartnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net income of $50,000 is allocated to X?a. $33,333b. $23,000c. $25,000d. $27,000ANS: D DIF: 3 OBJ: 0421. X and Y have original investments of $50,000 and $100,000 respectively in apartnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net loss of $10,000 is allocated to X?a. $10,000b. $3,000c. $5,000d. $7,000ANS: C DIF: 3 OBJ: 0422. The articles of partnership for A B Partnership provide for a salary allowance of$5,000 per month for partner B, with the balance of net income to be divided equally.If B made an additional investment of $10,000 during the year and withdrew $4,000 per month, and net income for the year was $90,000, by what amount did B's capital increase during the year?a. $85,000b. $10,000c. $37,000d. $60,000ANS: C DIF: 3 OBJ: 0423. If there is no written agreement as to the way income will be divided among partnersa. they will share income and losses equallyb. they will share income and losses according to their capital balancesc. they will share income and losses according to the time devoted to thebusiness.d. there really is no partnership agreementANS: A DIF: 1 OBJ: 0424. Partner A has a capital balance of $20,000 and devotes full time to the partnership.Partner B has a capital balance of $30,000 and devotes half time to the partnership.In what ratio is net income to be divided?a. 3:5b. 1:1c. 2:3d. 1:2ANS: B DIF: 2 OBJ: 0425. Details of the division of net income for a partnership should be discloseda. in the asset section of the balance sheetb. in the partners’ subsidiary ledgerc. in the statement of cash flowsd. in the income statementANS: D DIF: 2 OBJ: 0426. Deng and Dang are partners who share income in the ratio of 3:2. Their capitalbalances are $40,000 and $60,000 respectively. Income Summary has a credit balance of $20,000. What is Deng's capital balance after closing Income Summary to Capital?a. $30,000b. $52,000c. $28,000d. $32,000ANS: B DIF: 2 OBJ: 0427. Selma pays Sally $39,000 for her 30% interest in a partnership with total net assets of$120,000. Following this transaction, Selma's capital account should have a credit balance ofa. $36,000b. $39,000c. $33,000d. more than $39,000ANS: A DIF: 3 OBJ: 0528. Nellie is admitted to an existing partnership by investing cash. Nellie agrees to pay abonus for her ownership interest because of the past success of the partnership.When Nellie's investment in the partnership is recordeda. her capital account will be credited for more than the cash she investedb. her capital account will be credited for the amount of cash she investedc. a bonus will be credited for the amount of cash she investedd. a bonus will be distributed to the old partners' capital accounts.ANS: D DIF: 3 OBJ: 0529. Peter and Paul are partners. The partnership capital of Peter is $40,000 and Paul is$70,000. Peter sells his interest in the partnership to Mary for $50,000. Thejournal entry to record the admission of Mary as a new partner would includea. a credit to Mary's capital for $40,000b. a credit to Paul's capital for $10,000c. a credit Mary's capital for $50,000d. a credit to Mary's capital for $40,000 and a credit to Paul's capital for $10,000ANS: A DIF: 3 OBJ: 0530. When a partner dies, the capital account balances of the remaining partnersa. will increaseb. will decreasec. will remain the samed. may increase, decrease, or remain the sameANS: D DIF: 2 OBJ: 0531. A partner withdraws from a partnership by selling her interest to another person whocurrently is not associated with the firm. As a results of this transaction, the capital account balance of the other partners in the partnershipa. will increaseb. will decreasec. will remain the samed. may increase, decrease, or remain the sameANS: C DIF: 2 OBJ: 0532. Shaw and Hall are partners. The partnership capital for Shaw is $50,000 and forHall is $60,000. Thomas is admitted as a new partner by investing $40,000 cash.Thomas is given a 20% interest in return for her investment. The amount of thebonus to the old partners isa. $0b. $18,000c. $8,000d. $10,000ANS: D DIF: 3 OBJ: 0533. A and B are partners who share income in the ratio of 2:1 and have capital balances of$50,000 and $30,000 respectively. With the consent of B, X buys one half of A'sinterest for $35,000. For what amount will A's capital account be debited to record admission of X to the partnership?a. $40,000b. $15,000c. $25,000d. $35,000ANS: C DIF: 3 OBJ: 0534. A new partner may be admitted to a partnership bya. inheriting a partnership interestb. contributing assets to the partnershipc. purchasing a specific quantity of assets from the partnershipd. the consent of the majority of the current partnersANS: B DIF: 2 OBJ: 0535. A change in the ownership of a partnership results in thea. consolidating of the partnershipb. liquidating of the partnershipc. realization of the partnershipd. dissolution of the partnershipANS: D DIF: 1 OBJ: 0536. When a new partner is admitted to a partnership, there should be a(n)a. revaluation of assetsb. realization of assetsc. allocation of assetsd. return of assetsANS: A DIF: 1 OBJ: 0537. When a new partner is admitted to a partnership, there should be a(n)a. the total assets of the partnership increaseb. new capital account is added to the ledger for the new partnerc. the total owner's equity of the partnership increasesd. the cash received by the current partner represents the amount of the debit tothat partner's capital account.ANS: B DIF: 2 OBJ: 0538. When an additional partner is admitted to a partnership by contribution of assets tothe partnershipa. the total assets of the partnership do not changeb. no liabilities can be contributed at the same timec. the amount of the cash contribution is the same as the amount of the debit tothe new partner's capital accountd. the total of the owner's equity accounts increasesANS: D DIF: 2 OBJ: 0539. When a new partner is admitted to a partnershipa. a bonus may be attributable to the old partnerb. a bonus may only result from more cash being given by the new partner thanthe value of the of the assets being purchasedc. a bonus agreed upon by the partners is recorded as an asset so long as theamount is within the range set by the SECd. a bonus is not recordedANS: A DIF: 2 OBJ: 0540. The CD Partnership owns inventory that was purchased for $65,000, has a currentreplacement cost of $62,500, and is priced to sell for $95,000. At what amount should the inventory be recorded in the accounts of the new partnership if A is to beadmitted?a. $97,000b. $62,500c. $65,000d. $95,000ANS: B DIF: 2 OBJ: 0541. Immediately prior to the admission of A, the XY Partnership assets had been adjustedto current market prices, and the capital balances of X and Y were $40,000 and$60,000 respectively. If the parties agree that the business is worth $150,000, what is the amount of bonus that should be recognized in the accounts at the admission of A?a. $100,000b. $0c. $40,000d. $50,000ANS: D DIF: 2 OBJ: 0542. Stan and Ollie are partners who share income in the ratio of 2:3 and have capitalbalances of $50,000 and $30,000 respectively. Ray is admitted to the partnership and is given a 40% interest by investing $20,000. What is Stan's capital balance after admitting Ray?a. $20,000b. $25,000c. $42,000d. $18,000ANS: C DIF: 3 OBJ: 0543. Stan and Ollie are partners who share income in the ratio of 2:3 and have capitalbalances of $30,000 and $50,000 respectively. Ray is admitted to the partnership and is given a 10% interest by investing $20,000. What is Ollie's capital balance after admitting Ray?a. $56,000b. $34,000c. $20,000d. $44,000ANS: A DIF: 3 OBJ: 0544. Tim, Don, and Hans are partners with capital balances of $20,000, $30,000, and$50,000 respectively. They share income in the ratio of 3:2:1. Income Summary with a debit balance of $30,000 is closed to the capital accounts. Don withdraws from the partnership. How much cash does he get upon withdrawal?a. $30,000b. $20,000c. $40,000d. $24,000ANS: B DIF: 3 OBJ: 0545. A and B are partners who share income in the ratio of 1:2 and have capital balances of$40,000 and $70,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $80,000.What amount of loss on realization should be allocated to A?a. $80,000b. $10,000c. $20,000d. $30,000ANS: B DIF: 3 OBJ: 0646. A partnership liquidation occurs whena. a new partner is admittedb. a partner diesc. the ownership interest of one partner is sold to a new partnerd. the assets are sold, liabilities paid, and business operations terminatedANS: D DIF: 1 OBJ: 0647. The balance sheet of Marilyn and Monroe was as follows immediately prior to thepartnership being liquidated: cash, $20,000; other assets, $160,000; liabilities, $40,000;Marilyn capital, $60,000; Monroe capital, $80,000. The other assets were sold for $139,000. Marilyn and Monroe share profits and losses in a 2:1 ratio. As a final cash distribution from the liquidation, Marilyn will receive cash totalinga. $46,000b. $51,000c. $60,000d. $49,500ANS: A DIF: 3 OBJ: 0648. Jimmy Jerry and Johnny decide to liquidate their partnership. All assets are soldand the liabilities are paid. Following these transactions, the capital balances and profit and loss percentages are as follows: Jimmy, $27,000 and 30%; Jerry, $(12,000) and 40%; Johnny, $43,000 and 30%. Jerry is unable to contribute any assets toreduce the deficit. How much cash will Jimmy receive as a results of the partnership liquidation?a. $27,000b. $21,000c. $23,400d. $15,000ANS: B DIF: 3 OBJ: 0649. The remaining cash of a partnership (after creditors have been paid) upon liquidationis divided among partners according to theira. capital balancesb. contribution of assetsc. drawing balancesd. income sharing ratioANS: A DIF: 2 OBJ: 0650. A gain or loss on realization is divided among partners according to theira. income sharing ratiob. capital balancesc. drawing balancesd. contribution of assetsANS: A DIF: 2 OBJ: 06。
【分层训练】二年级语文下册第13课《画杨桃》同步练习(含答案)部编版
【分层训练】第13课画杨桃同步练习姓名：__________ 班级：__________完成用时（分钟）：__________【基础巩固篇】一、连一连。
kào dào shěn sù shǎng yuè悦晌肃审倒靠二、用“√”给加点字选择正确的读音。
教诲．（huǐ huì）抢．走（qiáng qiǎng）推倒．（dǎo dào）审．视（shěn shěng）半晌．（shǎng xiǎng）倒．影（dǎo dào）三、读拼音，写词语。
tú huà bǎi fàng zuò wèi shěn shì zhēng qiǎng四、照样子，写一写。
例：六＋乂＝交（交给）口+冬=（）（）讠+果=（）（）扌+罢=（）（）广＋坐=（）（）五、照样子写词语。
亮晶晶（ABB）认认真真（AABB）哈哈大笑（AABC）六、填上合适的量词。
一（）杨桃一（）老师一（）东西一（）椅子一（）国旗一（）笑声严格严肃1.张老师对我们的要求一向很( )。
2.小强没有完成作业，李老师( )地批评了他。
教育教诲1.山村的孩子渴望受到良好的( )。
2.虽然我离开母校多年了，可是老师们的( )，永远留在我的心中。
八、把词语和解释用线连起来。
审视教导训诫教诲仔细地看严肃和蔼可亲的面色半晌庄重和颜悦色一生也忘不了终生难忘好长一会儿【能力提升篇】一、根据课文内容完成练习。
老师这幅画，到我的座位上，了一下讲桌上的杨桃，然后讲桌前，我的那页画纸，问大家：“……”二、按要求写词语。
1.补充词语：( )( )彩烈 ( )言( )语揠( )助( )2.写近义词：愿意—( )高兴—( )立刻—( )吃惊—( )3.写反义词：远—（）深—（）飞快—（）精确的确准确1.这件好事（）不是我做的。
2.小明的回答（），评委给了他满分。
13章 课堂互动 参考答案
第十三章课堂互动参考答案课堂互动11．Only the thought of his mother gave him the strength.只要一想到母亲，他就有了力量。
2. The sight of the orphan always reminds me of his parents.看到这个孤儿，我总会想到其父母。
3. Most boys have an inclination for sports.大多数男孩爱好体育活动。
4. The students are all on the tiptoe of expectation of the arrival of their international teacher.学生翘首盼望外籍教师的到来。
5. Failure in a required subject may result in the denial of a diploma.修不完必修课就可能拿不到学位。
6．And if you think you’ll abandon meat and become a vegetarian, you have the choice of very expensive organically-grown vegetables or a steady diet of pesticides every time you think you’re eating fresh salads and vegetables, or just having an innocent glass of water! (New Concept English)如果你不想吃肉食品而成为一位素食者，那么你就选吃价格贵的有机培植蔬菜，或是当你认为在吃新鲜色拉和新鲜蔬菜，或饮用一杯无公害的水的时候，实际上你每次都在不断地吃进杀虫剂。
课堂互动21．Basic science has not only come to the assistance of already existing empirical technology, it has often preceded technological innovations.基础科学不仅求助于现存的以经验为基础的技术，而且还常先于技术革新。
七年级上册习题13的答案
七年级上册习题13的答案七年级上册习题13的答案在七年级上册的数学课本中，第13个习题是一个综合性的练习题，涉及到了多个知识点，包括整数的加减法、分数的加减法、百分数的计算等。
下面我将为大家逐一解答这些问题。
1. 计算下列各式的值：a) 7 + (-3) = 4b) (-5) + 3 = -2c) (-4) - (-2) = -2d) 9 - (-7) = 16e) (-8) - (-10) = 2f) (-6) + (-9) = -15g) (-3) - (-5) = 2h) (-12) + (-6) = -18i) (-5) - 3 = -8j) 8 - (-4) = 122. 计算下列各式的值，并将结果化为最简分数形式：a) 3/4 + 1/2 = 5/4b) 2/3 - 1/6 = 4/6c) 5/6 + 1/3 = 9/6d) 3/5 - 1/10 = 26/50e) 2/3 + 1/4 = 11/12f) 5/8 - 1/4 = 3/8g) 3/7 + 2/7 = 5/7h) 4/5 - 2/5 = 2/5i) 1/2 + 1/3 = 5/6j) 2/3 - 1/4 = 5/123. 计算下列各式的值，并将结果化为百分数形式：a) 3/4 × 100% = 75%b) 1/2 × 100% = 50%c) 2/5 × 100% = 40%d) 3/8 × 100% = 37.5%e) 4/5 × 100% = 80%f) 1/3 × 100% = 33.33%g) 2/7 × 100% = 28.57%h) 5/6 × 100% = 83.33%i) 3/10 × 100% = 30%j) 1/4 × 100% = 25%通过以上的计算，我们可以看到，七年级上册习题13主要考察了整数的加减法、分数的加减法以及百分数的计算。
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C．要求损失的发生具有一贯性
D．要求损失的发生具有积累性
21、可保风险是指符合保险人承保条件的特定风险。理想的可保风险应具备的条件
之一是风险必须使大量标的均有遭受损失的可能性。这一条件的含义是（A）
A.大量性质相近、价值相近的风险单位面临同样的风险
B.大量性质相近、价值相等的风险单位面临同样的风险
C.大量性能不同、品质相同的风险单位面临同样的风险
损失程度大 C.损失频率高 损失程度小 D.损失 频率低损失程度小 8、盗窃、抢劫、玩忽职守等行为属于（ B ）。A．自然风险 B．社会风险 C．政治风
险 D．经济风险 9、按风险的性质分类，风险可分为 （B ） A．财产风险、人身风险、责任风险
B．纯粹风险、投机风险 C．自然风险、社会风险 D．政治风险、经济风险 10、对于损失概率高、损失程度大的风险应该采用（ C ）的风险管理方法。 A.保险 B.自留风险 C.避免 风险 D.减少风险
不定项选择
1、下列有关风险的陈述正确的是（ ABCD ） A.风险是指某种损失发生的可能性 B.风险的存在与客观环境及一定的时空条件有关 C.风险是风险因素、风险事故与损失的统一体 D.没有人类的活动，也就不存在风险 E.风险是不可以转移的 2、商业保险一般可承保下列风险（ABC ） A.纯粹风险 B.自然风险 C.责任风险 D.投机风险 E. 战争风险 3、控制型风险管理技术主要有：（ ABDE ） A.预防 B.抑制 C.转移 D.分散 E.避免 4、风险不确定性的表现有（ABDE ）。A.导致损失的随机事件是否发生不确定 B.损失发生的时间不确定 C.风险在哪里存在不确定 D.损失发生的地点不确定 E.损失发生后造成的损失程度和范围不确定 5、目前国际上通用的风险成本内容包括 （ ABCDE ）。 A.保险费 B.自己必须承担的损失 C.风险管理行政费用 D.风险控制成本 E.残余物资和其他的补偿或救济
A.中国人民银行 B.中国保险监督管理委员会
C.中央财政部 D.劳动和社会保障部
29、我国第一家股份制保险企业是（ B ）。
A.中国太平洋保险公司 B.平安保险公司
C.天安保险公司
D.大众保险有限公司
30、（ C ）是世界上唯一的以个人名义承保保险的组织形式。
A.专业再保险公司 B.皇家交易所 C.劳合社 D.伦敦保险公司
A．保险经纪人 B. 风险经理 C. 保险中介人 D. 投保人
14、保险是指投保人根据合同的约定，向保险人支付保险费，保险人对于合同的约定 的事项承担（ A ）保险金责任的商业保险行为。
A．赔偿和给付 B．赔偿和分摊 C.分摊和分散 D.分散和给付
15、保险的基本特性是保险的( B ) A．经济性 B.互助性 C.法律性 D.科学性
A.劳合社是一个保险公司 B.劳合社是一个保险市场
C.劳合社的成员只能是法人 D.投保人在投保时和承保辛迪加直接见面
27、( A )年，上海华商义和公司保险行成立，这是我国第一家民族保险企业。
A．1865 B．1875 C．1899 D．1926
28、1998年11月，（B ）成立，标志着我国的保险宏观管理体制日渐成熟。
11、属于控制型风险管理技术的有 （ A ）。
A．预防与避免 B. 抑制与自留 C. 转移与分散 D. 保险与预防
12、在风险所致的损失频率和幅度较低的情况下，企业一般采用（C）风险处理方法。 A. 避免 B. 分散 C.自留 D.保险
13、我国《保险法》所称保险是指( D )根据合同约定，向保险人支付保险费。
24、共同海损分摊原则最早出现在（A ）
A.罗地安海商法 B.罗马法典 C．“佟蒂法” D.英国1906年海上保险法
25、在1693年，天文学家哈雷编制了第一张( D )，精确表示了每个年龄的死亡率，
为寿险计算提供了依据。
A.保险表 B. 费率表 C.统计表 D.生命表
26、关于劳合社的表述中正确的是（ B ）
16、从法学的角度看，保险是一种( A )。
A．合同行为 B．经济制度 C. 风险转移机制 D. 保险行为
17、保险公司属于(C )。A．政府机构 B．投资机构 C. 金融机构 D. 经济制度
18、下列有关保险的陈述错误的是（D ）
A.保险是风险处理的传统有效的措施 B.保险是分摊意外事故损失的一种财务安排
D.大量性能不同、品质一致的风险单位面临同样的风险
Hale Waihona Puke 22、在市场经济条件下，保险职能在具体社会和经济实践中所表现出的效果称为保
险作用。保险作用的具体表现形式是（ A ）
A.宏观作用和微观作用 B.主观作用和客观作用
C.补偿作用和给付作用 D.法定作用和自发作用
23、近代海上保险发源于( C )。 A．英国 B．伦敦 C．意大利 D．中国
C.保险体现的是一种民事法律关系 D.保险不具有商品属性
19、保险的要素包括（ B ）
A.转移所有风险
B.必须对风险事故造成的损失给予经济补偿
C.保险是一种返还金 D.投资融资
20、可保风险的条件之一是风险不能使大多数的保险对象同时遭受损失。该条件的
含义是指（A）。
A．要求损失的发生具有分散性
B．要求损失的发生具一致性
课堂练习答案
单项选择
1、风险损失的实际成本包括风险损失的（ B ） A.无形成本 B.直接损失成本 C.预防损失成本 D.控制损失成本 2、风险无时不刻地围绕在我们周围，渗入到社会、企业、家庭、个人生活的方方面面，
这就是风险的（B）。 A. 随机性 B.普遍性 C.损失性 D.可变性 3、风险会随着经济发展、技术发展、法律制度的发展而 不断发展变化说明风险具（D）。
A． 确定性 B． 普遍性 C. 客观性 D. 发展性 4、某人外出时忘记锁门，结果小偷进屋，电脑被偷，则造成损失事故发生的风险因素是
（B）。A.物质风险因素 B.心理风险因素 C.道德风险因素 D.思想风险因素 5、当损失频率 =（C ）时风险最大。 A.0 B.0.3 C.0.5 D .1 6、因下冰雹使得路滑而发生车祸，造成人员伤亡，这时冰雹是（ B ） A．风险因素 B．风险事故 C．损失 D．道德因素 7、适用于保险的风险处理方法有（ B ）。A.损失频率高 损失程度大 B.损失频率低