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The members of the company bear limited liability for debts and losses.
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A、the dog
B、the knife
C、the book
D、the bench
A.heavier than
B.really
C.lighter than
D.slightly heavier than
—For the question 13- 18, mark one letter A,B,C or D on your Answer Sheet for the answer you choose.
The Use of Ads
Advertising may legally contain opinions and exaggerations which are misleading. There "legal lies" are called puffs because they puff up a product's qualities and make it seem better than it really is. Learn how to spot advertising puff.
Advertising is controlled by law. The Federal Trade Commission (FTC) regulates the content of advertisements—what the manufacturer can and can not say about its product. You as a Consumer can protect yourself from misleading ads by learning how to recognize them.
Misleading advertising often presents the seller's opinion as if it were fact. "Zeno's Cola is the finest soft drink. Acme Cars give you the most comfortable ride in town." When you see advertisements like this, ask yourself "Who says so?" This is the type of advertising puff that reflects an opinion. The words "finest" and "most" show that a judgment is being made—a personal opinion, not a statement of fact. Of course the Zeno Company thinks their cola is the finest. They want you to think so too, so you'll buy it.
Some advertising puffs try to connect an unrelated quality to a product. For example, beauty and popularity are often linked with perfume, cars, mouthwash, or toothpaste. This kind of advertising is called "image making". Will you really meet nicer people if you drive a Panther automobile? Will people think you're sexier if you brush your teeth with Sparkle toothpaste? Of course not. When you see these advertisements, remember that very few products will automatically make you a better or happier person. Some advertising puffs describe the product accurately but are still misleading. For instance, a leading hamburger is described as a quarter of a pound. This statement is true: the hamburger does weigh a quarter of a pound—before cooking. Since it's purchased after being cooked, this claim may be classified as puff.
Check the frozen food aisle in your supermarket. A frozen pie is labeled as a "nine-inch pie." This statement is true if you measure the pie from the outside of the rim on one side to the other side. The actual body of the pie is only 7.5 inches. If you buy a standard nine-inch pie plate for making your own pres, you'll see that the nine inch measurement is for the inside of the pie.
You should always question the claims made by any advertisement. Ask yourself: will the product really do all of these things? Is it truly the best?
Decide which of the following advertisements reflects/reflect only the seller's opinion?
A.Acme Cars give you the most comfortable ride in town.
B.Use Sparkle Toothpaste to whiten your teeth.
C.White Cat, washes whiter.
D.All of the above.
A.the former is safer in getting dividends
B.common stockholders get more stable profits
C.the latter gets more fixed returns
D.preferred stockholders have more rights in voting
—For each question 13-18,mark one letter A, B, C or D on your Answer Sheet.
Common Stock and Preferred Stock
A public corporation issues certificates of ownership, called common stock, which may be traded on stock ex changes. Anyone can buy and sell shares of common stock. Owners of stock are referred to as shareholders and stockholders. Common stockholders are accorded certain rights by the corporate charter. In the United States, these rights vary from state to state, but in general the articles of incorporation spell out voting rights and rights to receive profits.
Common stockholders are the voting owners of a Corporation. They are usually entitled to one vote per share. They may vote on numerous affecting the corporation (including a decision to sell or merge with anther corporation) and elect a board of directors, who, in turn, hire managers to run the business. A majority shareholder is one who owns over 50 percent of the outstanding shares in a corporation and, thus, can call the shots. All other shareholders are minority shareholders. In large corporations no single person or organization owns anywhere near a majority interest. In large, publicly owned corporations a shareholder with as little as 10 percent of the shares may control the corporation effectively. If things go badly, a coalition of so called dissident shareholders may gather enough votes to replace the existing board of directors; the new board may fire the existing management and bring in their own management team.
Although common stock represents ownership in a company, it does not guarantee the owners a specified rate of return. As owners, the stockholders receive profits after all expenses, including debts and taxes, have been paid. They receive profits from the business in the form. of dividend payments, which represent a percentage of profits. Not all after-tax profits are paid to the stockholders in dividends. Directors usually decide quarterly how much, if any, if the profits they wish to distributed to the owners. The profits are either distributed to the owners in dividends or they are reinvested bank into the company in the form. of retained earnings. If the company decides to keep the profits, the company may become more valuable and the price of the stock usually goes up. Some investors prefer profits in the way of dividends while others speculate for an increase in the price of stock. If a company goes broke, common stockholders get last claim on whatever is left over.
Corporations may also issue preferred stock to investors. Preferred stock usually has no vote in the election of the board of directors, but does get preference in the distribution of the company's earnings. It offers investors a different type of security and may be issued only after common stock had been issued. The term "preferred" applies to two conditions. First, preferred stockholders gain preferential treatment in the matter of dividends) That is, they receive a fixed fete of dividends prior to the payment of dividends on common shares. Second, if the company goes out of business or liquidates, preferred stockholders are closer to the front of the line than common stockholders when distributing the company's assets.
Dividends to preferred stock may be cumulative or noncumulative. Cumulative preferred stock maintained its claim to dividends even if the company had a bad year in 1994, they might decide not to pay dividends. But if they had a good year in 1995, and declared stock dividends do not accumulate, If dividends are not declared, noncumulative owners lose their claim to the profit of that period.
All in all, common stock usually has more control through voting privileges, greater chance for high retur
A.the returns to common stockholders
B.the majority and minority stockholders
C.the voting rights of common stockholders
D.the formation of common stock
A.members are able to elect their leader.
B.the leaders have received extensive training.
C.members are encouraged to adopt a critical approach.
D.information is not passed on to non-members.
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