Part A: Vocabulary and Grammar

 

1- Symptoms of the illness include a high temperature and a(n) ---------- dry cough.

1) effective

2) persistent           

3) respected           

4) considerate

2- You can protect the floor with ---------- sheets of newspaper if you want to paint the walls.

1) mediating           

2) restricting           

3) overlapping        

4) approaching

3- Modern examples of this type of weaving for Persian carpets in the region show little --------- from traditional patterns.

1) deviation

2) relevance

3) application

4) permanence

4- The road ---------- the highway a mile from here - you can't miss the signs for it.

1) intersects           

2) interferes           

3) intervenes          

4) intercepts

5- The love and support of his family --------- him during his time in prison and made him feel less desperate there.

1) resolved             

2) sustained           

3) assumed             

4) determined

6- Anita had a(n) --------- arrangement with her brother - each would take care of the other's children if the need arose.

1) adjacent

2) coherent            

3) analogous          

4) reciprocal

7- Despite some doubts by the experts, the ---------- of this painting to Rembrandt had never been questioned.

1) attribution          

2) simulation           

3) association         

4) specification

8- You had better not ---------- the car unlocked in this area - not even for a minute.

1) left     

2) leave  

3) to leave              

4) leaving

9- He is studying mathematics so as ---------- for higher salary.

1) to qualify            

2) qualifying           

3) qualification        

4) he qualifies

10- No sooner had he drunk the coffee ---------- he began to feel drowsy.

1) that    

2) when  

3) than   

4) which

 

Part B: Cloze Test

 

A person with poor self-esteem (11) ---------- a major struggle in work and relationships with other people. If you put (12) ---------- value in yourself, others will not value you, (13) ------------ want to be with you. For if you are self-centered and don't have any real concern for (14) ----------, you will ­be, in fact, harmful to your community. And if a person has positive feelings (15) ----------- himself they need to be balanced by a concern for other people

 

 

 

Part C. Reading Comprehension

 

PASSAGE 1:

In the normal course of business, a document is produced each time a transaction occurs. Sales and purchases usually have invoices or receipts. Deposit slips are produced when lodgements are made to a bank account. Cheques are written to pay money out of the account. Bookkeeping involves recording the details of all. of these source documents into a journal. In the single entry system, each transaction is recorded only once. Most individuals who balance their cheque-book each month are using such a system, and most personal finance software follows this approach.

Businesses, however, usually use a more complex double entry system, where each document is recorded as multiple journal entries, the totals of which always have to balance. This allows a business to know much more information about its current financial position. As well as how much money is currently in the bank, it can easily tell how much it owes it suppliers, how much customers owe it, how much tax is due, etc. These journal entries are then transferred to a ledger, or book of accounts.This bring all of the amounts recorded for that account from the journal together. This process of transferring the values is known as posting. Once the entries have all been posted, the ledger accounts are added up in a process called balancing. A particular working document called an unadjusted trial balance is created. This lists all the balances from all the accounts in the ledger. Notice that the values are not posted to the trial balance, they are merely copied. At this point accounting happens. The accountant produces a number of adjustments which make sure that the values comply with accounting principles.

 

16- Which of the following is TRUE according to the passage?

1) A transaction is the normal product of a document

2) No sales or purchases can be carried out without an invoice

3) Lodgements to a bank account usually follow the records of book keeping

 4) Cheque-books are often balanced monthly using the single entry system

 

17- It is implied in the passage that ----------.

1) the single- entry system is of little use to businesses

2) a business is not concerned with its past financial position

3) personal finance software are closely related to documents in a journal

4) documents are recorded as multiple journal entries if the system is complex

 

18- The word "which' in line 9 refers to ----------.

1) ‘multiple journal entries’

2) 'double entry system'

3) ‘each document’

4)' totals'

 

19- The passage mentions that --------.

1) a ledger and the values posted to the trial balance form part of the accounting adjustments

2) an unadjusted trial balance can be developed only after the processes of posting and balancing

3) suppliers, customers and the account balance are of equal value in the double-entry system

4) account keeping systems are extremely concerned about the tax a business has to pay

 

20- The word 'comply' in line 20 is most closely related to an -------.

1) 'indication'          

2) 'estimation'         

3) 'agreement'

4) ‘assessment’

 

PASSAGE 2

 

In the late 1980s, accounting practitioners and educators were heavily criticized on the grounds that management accounting practices had changed little over the preceding 60 years, despite radical changes in the business environment. Professional accounting institutes, perhaps fearing that management accountants would increasingly be seen as superfluous in business organizations, subsequently devoted considerable resources to the development of a more innovative skills set for management accountants. The distinction between 'traditional' and 'innovative' management accounting practices can be illustrated by reference to cost control techniques. Traditionally, management accountants' principal technique was variance analysis, which is a systematic approach to the comparison of the actual and budgeted costs of the raw materials and labor used during a production period. While some form of variance analysis is still used by most manufacturing firms, it nowadays tends to be used in conjunction with innovative techniques such as life cycle cost analysis and activity-based costing, which are designed with specific aspects of the modern business environment in mind. Lifecycle costing recognizes that managers' ability to influence the cost of manufacturing a product is at its greatest when the product is still at the design stage of its product lifecycle, since small changes to the product design may lead to significant savings in the cost of manufacturing the product. Activity-based costing recognizes that, in modern factories, most manufacturing costs are determined by the amount of 'activities' and that the key to effective cost control is therefore optimizing the efficiency of these activities. Activity-based accounting is also known as Cause and Effect accounting. Both lifecycle costing and activity-based costing recognize that, in the typical modern factory, the avoidance of disruptive events is of far greater importance than reducing the costs of raw materials.

 

21- It is stated in the passage that ----------.

1) cost control techniques provide some of the best examples for innovative accounting practices

2) the development of modern management techniques for accountants has a 60 year - old history

3) management accounting practices have changed little over the past 60 years

4) the business atmosphere of the 1920s differed considerably from that in the 1980s.

 

22- The passage mentions that --------.

1) variance analysis has always been a favourite technique for management accounts

2) life cycle cost analysis and activity-based costing can only be used as part of variance analysis

3) variance analysis is not considered as an independent technique in management accounting today

4) comparison of the costs of raw material and labour develops systematically in the production period

 

23- Which of the following is TRUE according to the passage?

l) Lifecycle costing is most effectively applied at the stage of product design.

2) Effective cost control depends on optimizing the methods of cost assessment.

3) Small changes to product design are possible after the close analysis of production processes.

4) Modern factories determine their manufacturing costs based only on activity-based costing.

 

24- It is mentioned in the passage that --------.

1) variance analysis is sometimes of far greater significance than activity-based costing

2) cause and effect accounting is a key branch of activity-based costing in production management

3) the cost of raw materials in production is not so important as happenings that can stop the work

4) a manager's ability to influence the cost of manufacturing a product relies on his cost-cutting activities

 

25- The word 'superfluous' in line 5 most closely means ----------.

1) 'insufficient'                                                     

2) 'indeterminate'                                                

3) 'unavailable'                                                    

4) 'unnecessary'

 

 

PASSAGE 3:

Any comprehensive scheme of accounting reform is a major professional and academic enterprise; Typically it requires examination of the role of each of the fundamental factors of production, an analysis of capital indicating how many types there are and how each supports each factor of a production process. A comprehensive scheme that would affect, for instance, the United Nations standards for national accounts, the rules of the Bank for International Settlements, or listing requirements on the major stock exchanges, would have to defend any change against critics that advocated lesser reforms - making it extraordinarily difficult to achieve simultaneous consent. Marilyn Waring, who deeply criticized the UN account system for systematically under-valuing the social and economic contributions of women, stated also that she had to read literally an entire room full of books in order even to understand the standards applied today. It seems unlikely that most advocates of reform have the stamina to do so, nor the background required to debate each issue with economists or accountants that build their careers on the detailed extension and improvement of standards that already exist. Most critics considered reform prospects bleak. The critique from ecological economics was even more fundamental, claiming that most means of measuring well-being indicated that the developed nations were in a state of "uneconomic growth" through the 1980s and 1990s, due mostly to failures of measurement, most or all of which could be tracked back to the practice of using the Gross National Product as a means of making money supply decisions. This is perhaps the most obvious and widely-held critique of current national accounting and economic growth reporting systems - the creators of the GNP and GDP measures themselves advise against its use as a single measure of economic growth - but politicians and press typically do so without caveat nor apology.

 

26- Which of the following is TRUE according to the passage?

1) Major professional and academic enterprises often involve schemes of accounting reform.

2) The fundamental factors of production would support each other in a professional enterprise.

3) The United Nations standards for national accounts is affected by comprehensive accounting reform.

4) A comprehensive scheme of accounting reform rests partly on an examination of the types of capital in an enterprise.

 

27- We may understand from the passage that ---------.                                                                                                                ,

1) the accounting reforms taking place in big organizations are not often huge and comprehensive

2) supporters of accounting reform do not usually appreciate the problems involved in economic changes

3) Marilyn Waring is in favour of a change in the UN account system after understanding the standards applied.

4) the accounting standards applied at the UN today undervalue the contributions of women

 

28- Which of the following is the reason for the 'uneconomic growth' mentioned in the passage?

1) 'measurement of well-being'                                                                                                  

2) 'failures of measurement'

3) 'Gross National Product'                                                                                                         

4) 'money supply decisions'

 

29- The passage is most probably taken from a longer text on ----------.

1) accounting reforms in national economies

2) the accounting reform prospects in the United Nations

3) GNP and GDP .as indicators to national economic growth

4) the role of the UN in carrying out major accounting reforms

 

30- The word' caveat' in the last line means ----------.

1) principle

2) warning

3) definition                                                              

4) authority