题目内容
（请给出正确答案）
What is the amount of individual income tax (IIT) payable by Mr Lee in 2014？
A.RMB0
B.RMB40,000
C.RMB22,400
D.RMB32,000
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更多“Mr Lee has licensed his new in…”相关的问题
In June 2011 Mr Fang leased the same house to Ms Lee for a period of two years.
Due to the sudden change of the market and poor operation of his enterprise, Mr Fang was unable to repay the principal and interest as agreed when the loan matured at the end of January 2012. Credit Association filed a lawsuit in the people’s court and obtained a judgement in favour of its claim for the principal RMB 2 million yuan plus interest.
Credit Association then advised Ms Lee to leave the house, as it has been authorised by the people’s court to organise a public auction to sell the house for the enforcement of the judgement. Ms Lee refused to leave the house on the grounds that the lease agreement was an effective one between Mr Fang and herself and would last until the end of June 2013. In addition, Credit Association’s right of mortgagee should not affect her right under the lease agreement.
Required:
Answer the following questions in accordance with the relevant provisions of the Property Law, and give your reasons for your answer:
(a) state whether Ms Lee’s grounds for refusal to leave the house can be established. (5 marks)
(b) state how Ms Lee should deal with the current situation. (5 marks)
Several months later, Mr Ma borrowed another RMB 200,000 yuan from Mr Lee and delivered his truck as the pledge to Mr Lee. The two parties then registered the pledge agreement.
Upon the expiration of the loan agreements, Mr Ma was unable to repay the capital and interest. A dispute occurred between Ms Yang and Mr Lee, since they intended to exercise the right of guarantee simultaneously.
Required:
In accordance with the Property Law of China:
(a) Explain whether the mortgage agreement between Mr Ma and Ms Yang came into effect. (2 marks)
(b) Describe when the right of pledge between Mr Ma and Mr Lee was established. (2 marks)
(c) Explain who should be repaid in priority if the truck was auctioned. (2 marks)
(i) Mr Lee would subscribe RMB 70,000 yuan in cash and RMB 110,000 yuan in the form. of computer software. He should make the first payment of RMB 20,000 yuan in cash to the special account of the certified public accountant firm, and the remaining RMB 50,000 yuan plus the computer software would be contributed within one year upon the incorporation of the company.
(ii) Mr Wang would subscribe RMB 150,000 yuan in the form. of equipment and land use right and make all the capital contributions within six months upon the incorporation of the company.
(iii) Mr Chan would subscribe RMB 270,000 yuan in cash. The first payment of RMB 90,000 yuan should be made before the incorporation, the remaining RMB 180,000 yuan should be made in the third year upon the incorporation of the company.
Required:
Answer the following questions in accordance with the Company Law of China, and give your reasons for your answers:
(a) discuss whether the initial capital contributions made by the sponsors were in conformity with relevant provisions of law; (3 marks)
(b) discuss the total amount of capital contributions in currency; (3 marks)
(c) state whether the time arrangement of making capital contributions by the three sponsors respectively was in conformity with the relevant provisions of law. (4 marks)
1 The scientists in the research laboratories of Swan Hill Company (SHC, a public listed company) recently made a very
important discovery about the process that manufactured its major product. The scientific director, Dr Sonja Rainbow,
informed the board that the breakthrough was called the ‘sink method’. She explained that the sink method would
enable SHC to produce its major product at a lower unit cost and in much higher volumes than the current process.
It would also produce lower unit environmental emissions and would substantially improve product quality compared
to its current process and indeed compared to all of the other competitors in the industry.
SHC currently has 30% of the global market with its nearest competitor having 25% and the other twelve producers
sharing the remainder. The company, based in the town of Swan Hill, has a paternalistic management approach and
has always valued its relationship with the local community. Its website says that SHC has always sought to maximise
the benefit to the workforce and community in all of its business decisions and feels a great sense of loyalty to the
Swan Hill locality which is where it started in 1900 and has been based ever since.
As the board considered the implications of the discovery of the sink method, chief executive Nelson Cobar asked
whether Sonja Rainbow was certain that SHC was the only company in the industry that had made the discovery and
she said that she was. She also said that she was certain that the competitors were ‘some years’ behind SHC in their
research.
It quickly became clear that the discovery of the sink method was so important and far reaching that it had the
potential to give SHC an unassailable competitive advantage in its industry. Chief executive Nelson Cobar told board
colleagues that they should clearly understand that the discovery had the potential to put all of SHC’s competitors out
of business and make SHC the single global supplier. He said that as the board considered the options, members
should bear in mind the seriousness of the implications upon the rest of the industry.
Mr Cobar said there were two strategic options. Option one was to press ahead with the huge investment of new plant
necessary to introduce the sink method into the factory whilst, as far as possible, keeping the nature of the sink
technology secret from competitors (the ‘secrecy option’). A patent disclosing the nature of the technology would not
be filed so as to keep the technology secret within SHC. Option two was to file a patent and then offer the use of the
discovery to competitors under a licensing arrangement where SHC would receive substantial royalties for the twentyyear
legal lifetime of the patent (the ‘licensing option’). This would also involve new investment but at a slower pace
in line with competitors. The licence contract would, Mr Cobar explained, include an ‘improvement sharing’
requirement where licensees would be required to inform. SHC of any improvements discovered that made the sink
method more efficient or effective.
The sales director, Edwin Kiama, argued strongly in favour of the secrecy option. He said that the board owed it to
SHC’s shareholders to take the option that would maximise shareholder value. He argued that business strategy was
all about gaining competitive advantage and this was a chance to do exactly that. Accordingly, he argued, the sink
method should not be licensed to competitors and should be pursued as fast as possible. The operations director said
that to gain the full benefits of the sink method with either option would require a complete refitting of the factory and
the largest capital investment that SHC had ever undertaken.
The financial director, Sean Nyngan, advised the board that pressing ahead with investment under the secrecy option
was not without risks. First, he said, he would have to finance the investment, probably initially through debt, and
second, there were risks associated with any large investment. He also informed the board that the licensing option
would, over many years, involve the inflow of ‘massive’ funds in royalty payments from competitors using the SHC’s
patented sink method. By pursuing the licensing option, Sean Nyngan said that they could retain their market
leadership in the short term without incurring risk, whilst increasing their industry dominance in the future through
careful investment of the royalty payments.
The non-executive chairman, Alison Manilla, said that she was looking at the issue from an ethical perspective. She
asked whether SHC had the right, even if it had the ability, to put competitors out of business.
Required:
(a) Assess the secrecy option using Tucker’s model for decision-making. (10 marks)
Dear Mr Lee
Subject: Faulty HP 5590 Scanners
Three months ago, our training center bought 10 HP 5590 scanners from your company --- see our order number G868281. Until (1), these scanners worked properly. (2 ), we have started to notice that fuzzy image is becoming increasingly common with these scanners.(3) , this is a problem with this model that appears only after a few months' service. This is not satisfactory.
This matter is causing us great (4), since we need to scan a lot of documents every day. We should,(5 ), like you to replace all of the machines that we bought, with your newer model HP 5591 scanners,(6) , we understand, do not have the same design fault.
(7)you know, we do a lot of business with your company, and we have always (8) pleased with your service. It would be a great (9)if this good relationship is spoiled.
I look forward to (10)your reply soon.
Yours sincerely
Willow Zeng
Willow Zeng
General Manager
A.can't, went to
B.can't, has gone to
C.mustn't, has been to
D.mustn't, went to
(a) Mr Xu, a domestic Chinese, is a designer. He is considering the following four options:
Option A: Joining Delta Ltd as a manager with a monthly salary of RMB40,000 and an annual bonus of RMB100,000 payable in December each year.
Option B: Providing services to Delta Ltd as a consultant for a consultancy fee of RMB50,000 per month.
Option C: Setting up his own sole proprietorship. He will pay himself a monthly salary of RMB20,000 from this sole proprietorship. For 2014 the net profit of the sole proprietorship after charging Mr Xu’s salary is expected to be RMB420,000.
Option D: Setting up a limited company, Xupa Ltd. He will pay himself a monthly salary of RMB20,000 from Xupa Ltd. For 2014 the net profit of the company after charging Mr Xu’s salary is expected to be RMB420,000. Xupa Ltd will pay enterprise income tax at the rate of 25% and distribute all of its profit after tax to its shareholder, Mr Xu, as a dividend.
Required:
Calculate the individual income tax (IIT) payable by Mr Xu for 2014 under each of the four options.
Note: Ignore value added tax and business tax. (10 marks)
(b) State, giving reasons, whether the following persons will be subject to individual income tax in China on their worldwide income in 2014:
(1) Ms Wang has her household in Xiamen and holds a China identity card. She has been studying in Australia since 2010 and has not returned to China for the last six years, including in 2014.
(2) Mr Beth is a US citizen, who has lived in China working for a non-government organisation since 2010. He has not travelled outside China for the last six years, including in 2014.
(3) Ms Ruth is an Australian citizen. She travelled to China and stayed in China for a total of 250 days in 2014. (5 marks)
(c) Mr Cobar, the chief executive of SHC, has decided to draft two alternative statements to explain both possible
outcomes of the secrecy/licensing decision to shareholders. Once the board has decided which one to pursue,
the relevant draft will be included in a voluntary section of the next corporate annual report.
Required:
(i) Draft a statement in the event that the board chooses the secrecy option. It should make a convincing
business case and put forward ethical arguments for the secrecy option. The ethical arguments should
be made from the stockholder (or pristine capitalist) perspective. (8 marks)
(ii) Draft a statement in the event that the board chooses the licensing option. It should make a convincing
business case and put forward ethical arguments for the licensing option. The ethical arguments should
be made from the wider stakeholder perspective. (8 marks)
(iii) Professional marks for the persuasiveness and logical flow of arguments: two marks per statement.
(4 marks)
(a) Delhi Co, a potential new client, is a privately owned and rapidly expanding company which currently operates below the audit threshold in the country in which it is based. The company’s management is currently considering having either a full audit or a limited assurance review of their financial statements. The partner would like you to assist the management of Delhi Co by writing a response to them in which you:
(i) Explain the difference between an audit of historical financial statements and a limited assurance review. (4 marks)
(ii) Discuss the relative advantages and disadvantages to Delhi Co of having an audit of their historical financial statements as opposed to a limited assurance review. (8 marks)
Delhi Co was incorporated in 2005, with founder and chief executive Mr Nimesh Dattani as the sole shareholder. After a period of rapid growth, Delhi Co took out a ten-year bank loan facility in June 2007 to finance Mr Dattani’s ambitious expansion plans. This was supported by a further injection of financial capital in 2014 through a new issue of shares in the company. The shares were sold to Mr Robert Hyland, an ex-business partner of Mr Dattani. The sale gave Mr Hyland a 40% shareholding in Delhi Co. He has no involvement in the management of the company.
Until recently Delhi Co operated with a small accounting department, comprising one full-time member of staff and one part-time employee. Due to the expansion of the company and Mr Dattani’s plans to expand the customer base internationally, it has been necessary to increase the size of the accounting function to include two new full-time members of staff. Both of the new recruits are part-qualified accountants and Mr Dattani has committed to sponsoring them through their remaining training and ACCA examinations.
Required:
Prepare the response to the management of Delhi Co as requested by the partner.
Note: The split of the mark allocation is shown against each of the issues above.
(b) The audit committee of another client, Mumbai Co, has asked the partner to consider whether it would be possible for the audit team to perform. a review of the company’s internal control system. A number of recent incidents have raised concerns amongst the management team that controls have deteriorated and that this has increased the risk of fraud, as well as inefficient commercial practices. The audit report for the audit of the financial statements of Mumbai Co for the year ended 31 March 2016 was signed a few weeks ago. Mumbai Co is a listed company.
Required:
In respect of the request for Chennai & Co to review Mumbai Co’s internal control systems: Identify and discuss the relevant ethical and professional issues raised, and recommend any actions necessary. (8 marks)
Can privacy be preserved 2 bringing safety and security to a world that seems increasingly 3 ？
Last month, Howard Schmidt, the nation's cyber-czar, offered the federal government a 4 to make the Web a safer place—a "voluntary trusted identity" system that would be the high-tech 5 of a physical key, a fingerprint and a photo ID card, all rolled 6 one. The system might use a smart identity card, or a digital credential 7 to a specific computer, and would authenticate users at a range of online services.
The idea is to 8 a federation of private online identity systems. User could 9 which system to join, and only registered users whose identities have been authenticated could navigate those systems. The approach contrasts with one that would require an Internet driver's license 10 by the government.
Google and Microsoft are among companies that already have these " single sign-on" systems that make it possible for users to 11 just once but use many different services.
12 , the approach would create a " walled garden" in cyberspace, with safe " neighborhoods" and bright "streetlights" to establish a sense of a 13 community.
Mr. Schmidt described it as a "voluntary ecosystem" in which "individuals and organizations can complete online transactions with 14 , trusting the identities of each other and the identities of the infrastructure 15 which the transaction runs. " Still, the administration's plan has 16 privacy rights activists. Some applaud the approach; others are concerned. It seems clear that such a scheme is an initiative push toward what would 17 be a compulsory Internet "drive's license" mentality.
The plan has also been greeted with 18 by some computer security experts, who worry that the "voluntary ecosystem" envisioned by Mr. Schmidt would still leave much of the Internet 19 . They argue that all Internet users should be 20 to register and identify themselves, in the same way that drivers must be licensed to drive on public roads.
【B1】
A．swept
B．skipped
C．walked
D．ridden
