2016年电大会计英语复习题.docVIP

会计英语复习题(开卷) 一、Translate the following paragraph into Chinese （一） ACCOUNTS RECEIVABLE FINANCING Accounts Receivable Financing is a type of asset-financing arrangement in which a company uses its receivables--which is money owed by customers--as collateral in a financing agreement. The company receives an amount that is equal to a reduced value of the receivables pledged. The age of the receivables have a large effect on the amount a company will receive. The older the receivables, the less the company can expect. The sale of accounts receivables is called factoring. A financial intermediary that purchases receivables from companies is called factor. This type of financing helps companies free up capital that is stuck in accounts receivables. Accounts receivable financing transfers the default risk associated with the accounts receivables to the financing company; this transfer of risk can help the company using the financing to shift focus from trying to collect receivables to current business activities. Selling Accounts Receivable A business may sell its accounts receivable to a finance company or a bank in order to receive cash earlier than the time the receivables come due. Selling accounts receivable is called factoring; the buyer, who charges a factoring fee, is called a factor. Factoring is becoming increasingly popular for firms with high export sales. Pledging Accounts Receivable A business may use accounts receivable as security to the notes payable it signs when obtaining a bank loan. The business retains ownership of the receivables, but the bank has a right to cash receipts from these receivables if the business defaults on the loan. The full disclosure principle requires companies to disclose the amount of accounts receivable that have been pledged. （二） Acme Plumbing Company sells plumbing fixtures on terms of 2/10, net 30. Its financial ratios over the last three years are as follows: 20X1 20X2 20X3 Current ratio 1.19 1.25 1.