100 bài thi thử toeic mới nhất

Index Advanced Level 1. Bearing Information 2. Cinemas 3. Cliches 4. Mistaken Identity 5. Speaking: At the Station 6. Speaking: At the Supermarket 7. Speaking: At the Theatre 8. Speaking: The Broadcast 9. What comes next (the bill) 10. Accounts 11. Advertising 12. Agreements 13. Applying for that Job 14. Are You in Debt? 15. At the Computer 16. At the Office (1) 17. At the Office (2) 18. At the Shops 19. Business 20. Business Expressions (1) 21. Business Expressions (2) 22. Code of Practice 23. Computers 24. Credit Card Holders 25. Employment and Training 26. Finance 27. Finance (1) 28. Finance (2) 29. Finance (3) 30. Guarantees and Warranties 31. How to agree 32. How to apologize 33. How to ask the way 34. How to complain 35. How to criticize 36. How to disagree 37. How to encourage 38. How to make exclamations 39. Insurance Policy Vocabulary 40. Internet Business (1) 41. Internet Business (2) 42. Interviews and Jobs 43. Invoices 44. Job Interview 45. Legal Expressions 46. Letter of Complaint (1) 47. Letter of Complaint (2) 48. Letter of Complaint (3) 49. Letter of Complaint (4) 50. Money 51. Money Matters (1) 52. Money Matters (2) 53. Money Matters (3) 54. Money Matters (4) 55. Money Slang Expressions 56. Online Marketing Campaign 57. Pay and Allowances 58. Planning a Business 59. Product Improvement 60. Quality Control 61. Super Supermarkets 62. Taxes 63. Verbal Communication Skills 64. Ways of commenting 65. Ways of disagreeing 66. Ways of disapproving 67. Ways of greeting 68. Ways of showing anger 69. Ways of showing pleasure 70. Ways of thanking 71. Ways of threatening 72. Working Well 73. A good real estate rental market 74. A Quick History of Advertising 75. Accountants 76. Accounting Information Systems 77. Agricultural Market Development 78. Annual Report 79. Asset Classes 80. Auditing 81. Auto Leasing 82. Basic Electronics 83. Basic Investment Types 84. Budgeting 85. Business Law 86. Business Letter Basics 87. Business Software Competitors 88. Cellular Telephones 90. Company Benefits 91. Conference Advice 92. Consumer Behaviour 93. Contracts and agreements 94. Corporate Taxation 95. Detecting Competition 96. Dotcom Retail Stores 97. Electronic Commerce 98. Email Do's and Don't's 99. GAAP 100. Internal Communications Answer Keys

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s and condo conversions have reduced new supply and a slowing housing market increases rental demand, so owners can now flex their muscles with rent increases, and those who bought at high valuations may yet get the last laugh. answer: (d) last laugh A8 Areas with declining employment and population will experience an acceleration of those trends, and investors will not acquire properties in such markets without good reason to believe a comeback is in the offing. answer: (d) offing A9 Retail properties will suffer as owners rediscover risk as a component of value, but most of these assets are owned by well-capitalized private equity groups that can easily ride out the storm. answer: (b) ride out A10 Acquisition of stabilized properties at low cap rates with little potential for rent growth is a sure recipe for below market returns. answer: (b) recipe 180 Questions Index PHOTOCOPIABLE © www.english-test.net 74. advanced-74 TOEIC tests / Incomplete Sentences / Advanced level # 74 (Answer Keys) A Quick History of Advertising A1 Encarta's History of Advertising notes that archaeologists have found evidence of advertising dating back to the 3000s BC, among the Babylonians. answer: (b) archaeologists A2 One of the first known methods of advertising was the outdoor display, usually an eye-catching sign painted on the wall of a building. answer: (b) eye-catching A3 An outdoor advertisement excavated in Rome offers property for rent, and one found painted on a wall in Pompeii calls the attention of travelers to a tavern. answer: (a) excavated A4 In medieval times word-of-mouth praise of products gave rise to a simple but effective form of advertising, the use of so-called town criers. answer: (b) criers A5 These were citizens who read public notices aloud and were also employed by merchants to shout the praises of their wares. answer: (c) praises A6 Although graphic forms of advertising appeared early in history, printed advertising made little headway until the invention of the movable-type printing press by German printer Johannes Gutenberg about 1450. answer: (b) headway A7 In the United States, the advertising profession began in Philadelphia, Pennsylvania, in 1841, when Volney B. Palmer set up shop as an advertising agent, the forerunner of the advertising agency. answer: (b) set A8 The introduction of radio created a new opportunity and by the end of the 1920s, advertising had established itself in radio to such a(n) extent that advertisers were producing many of their own programs. answer: (b) extent A9 The early 1930s ushered in dozens of radio dramatic series that were known as soap operas because they were sponsored by soap companies. answer: (c) ushered A10 Television had been introduced in 1940, but because of the high cost of TV sets and the lack of programming, it was not immediately embraced. answer: (a) embraced 181 Questions Index PHOTOCOPIABLE © www.english-test.net 75. advanced-75 TOEIC tests / Incomplete Sentences / Advanced level # 75 (Answer Keys) Accountants A1 Most accounting positions require a bachelor's degree in accounting or a related field or an equivalent combination of education and experience. answer: (d) an equivalent A2 Many companies want graduates with a master's degree in accounting, or a master's degree in business administration with a concentration in accounting. answer: (a) a concentration A3 Some schools offer students a chance for hands-on experience with part-time internship programs in accounting or commercial firms. answer: (a) internship A4 Accountants help make sure that a firm is run efficiently, that its records are maintained accurately, and that its taxes are paid properly and in a timely manner. answer: (d) timely A5 Nowadays, accountants are broadening the services they offer with budget analysis, investment planning, and IT consulting. answer: (a) broadening A6 Public accountants, many of whom are CPAs, generally have their own companies or work for major accounting firms. answer: (c) Public A7 Some accountants specialize in forensic accounting•— investigating white-collar crimes such as securities fraud and embezzlement. answer: (b) forensic A8 Many work closely with law enforcement officers and lawyers during investigations and often appear as expert witnesses during trials. answer: (b) expert A9 Management accountants record and analyze the financial information of the firms in which they are employed. answer: (d) Management A10 Government accountants work in the public sector, maintaining and monitoring the recordkeeping of government departments and agencies. answer: (d) sector 182 Questions Index PHOTOCOPIABLE © www.english-test.net 76. advanced-76 TOEIC tests / Incomplete Sentences / Advanced level # 76 (Answer Keys) Accounting Information Systems A1 Accounting information systems are a vital part of an organization's day-to-day operations. answer: (d) vital A2 Prices can vary from customized multimillion dollar systems to prepackaged software that costs less than $100. answer: (c) prepackaged A3 Customization allows for a good fit to the business's needs, smooth interfacing with other internal systems, and the ability to implement special security measures. answer: (c) interfacing A4 Advantages of non-custom software include low cost, immediate availability, quality, documentation on data flow, good compatibility with external systems, and support from the vendor. answer: (c) support A5 Disadvantages include lack of features, paying for unwanted features, and risk of vendor availability. answer: (d) unwanted A6 Good accounting systems allow users to run informal reports such as aged accounts receivable or to keep track of inventory. answer: (a) aged A7 Accounting systems have to track transactions in three business processes: order entry/sales, billing/accounts receivable/cash receipts, and purchasing/accounts payable/cash. answer: (c) transactions A8 The order entry/sales process captures sales data and records the information. answer: (a) captures A9 This process starts with a customer order, which initiates a credit check. answer: (b) check A10 After the customer is approved, the sales order department must let the warehouse know what goods to pick, and the shipping department needs to know that an order has been placed. answer: (c) placed 183 Questions Index PHOTOCOPIABLE © www.english-test.net 77. advanced-77 TOEIC tests / Incomplete Sentences / Advanced level # 77 (Answer Keys) Agricultural Market Development A1 The Food and Agriculture Organization of the UN advises that an efficient and adequate marketing system is a precondition for agricultural diversification, providing better prices to producers and the availability of competitively priced produce to consumers. answer: (a) precondition A2 Physical improvement is usually addressed in two ways: by providing improved market infrastructure (both urban and rural) and by improving rural access roads. answer: (a) access A3 Rural markets form part of a trade network; they are normally arranged on a periodic basis on specific weekdays and are commonly organised at a central place in a village or district centre. answer: (d) periodic A4 Larger rural markets ('assembly markets') are found where greater quantities of produce are traded, either by the producers themselves or by traders, and are normally situated on main highways, or near to ferries and other local transport nodes. answer: (c) nodes A5 Terminal wholesale and semi-wholesale markets are located within or near major cities (usually with populations exceeding 0.5 million). answer: (d) Terminal A6 Retail markets directly serve consumers in main urban areas; although primarily retail, they may have some semi-wholesale functions, particularly if they allow producers to trade•— in which case, they are often called farmers' markets. answer: (b) farmers' A7 Internal factors for change include increasing volumes of produce to be handled; alterations to commercial practices and trading patterns; and the emergence of professional specialised wholesalers. answer: (c) emergence A8 The main external causes for change are demographic factors, including increase in population of a city as a result of migration and natural growth, population shifts within cities and moves to the suburbs, and changes in the location and nature of workplaces. answer: (b) demographic A9 A common problem at both wholesale and retail levels is that the markets are viewed as tax instruments rather than as means of facilitating the marketing of local produce: the marketing system is 'kidnapped' by municipalities, with the sole purpose of collecting taxes. answer: (b) instruments A10 These factors all need to be taken into account in identifying the best approach to market development. answer: (b) account 184 Questions Index PHOTOCOPIABLE © www.english-test.net 78. advanced-78 TOEIC tests / Incomplete Sentences / Advanced level # 78 (Answer Keys) Annual Report A1 Our annual report was submitted to the shareholders on 31 March. answer: (b) submitted A2 Turnover remained constant through the fiscal year. answer: (b) fiscal A3 Profits declined sharply with the devaluation of the currency. answer: (c) currency A4 Sales fell gradually in the first two quarters, but recovered in the second half of the year. answer: (c) recovered A5 Costs reached a peak in April. answer: (d) a peak A6 Demand rose sharply after our major competitor went into bankruptcy. answer: (a) bankruptcy A7 Overhead levelled off when utility charges were frozen by the government. answer: (b) frozen A8 Prices were raised with the introduction of our new line of widgets. answer: (b) line A9 Output kept up with demand. answer: (b) kept A10 Although the company's overall performance was weak, its bottom line was still in the black. answer: (c) performance 185 Questions Index PHOTOCOPIABLE © www.english-test.net 79. advanced-79 TOEIC tests / Incomplete Sentences / Advanced level # 79 (Answer Keys) Asset Classes A1 Cathy Smart and the investment analysts at 401k Forum help you get down to the basics with this article about the different asset classes. answer: (c) basics A2 Asset classes are the categories that your different investments fall into•— such as cash, bonds, large-cap stocks, small-cap stocks, and international stocks. answer: (a) fall A3 Studies have shown that the key to successful investing is to spread your wealth among different asset classes. answer: (d) spread A4 Market capitalization (market cap) is a measure of the size and value of a company; to determine this, you simply multiply the number of the company's outstanding shares of stock by the market price of one share. answer: (d) outstanding A5 Market capitalization is important because history has shown us that the stocks of companies with different market caps behave differently in terms of return and risk. answer: (a) behave A6 Cap-size shift: mid-cap stocks may have once been defined as large cap, but fell out of favor with investors. answer: (b) favor A7 Mid-cap stock performance usually falls somewhere in between the returns of their large- and small-cap counterparts. answer: (b) counterparts A8 However, mid- and small-cap stock returns tend to be more volatile than the returns of large-cap stocks. answer: (b) volatile A9 If a smaller company loses a few key executives, or if the economy takes a turn for the worse, it only takes a few nervous investors to cause the stock to drop drastically. answer: (d) turn A10 Diversification can reduce your risk and help protect your investment: if one asset class in your portfolio is performing poorly, there's a chance that another asset class within your portfolio will be performing well. answer: (d) Diversification 186 Questions Index PHOTOCOPIABLE © www.english-test.net 80. advanced-80 TOEIC tests / Incomplete Sentences / Advanced level # 80 (Answer Keys) Auditing A1 The purpose of an audit is to gather and evaluate evidence in order to form an opinion on the reliability of a company's financial statements. answer: (c) reliability A2 The audit report is usually no more than a page in length and is attached to the financial statements. answer: (a) report A3 Auditors are not responsible for the preparation of the financial statements of an company. answer: (d) preparation A4 In the financial statements, the company implicitly states that all items, account balances and transactions are materially valid, complete and accurate. answer: (c) materially A5 An error in validity is committed when the financial statements include an item that should not be included. answer: (d) validity A6 An error in completeness is committed when the financial statements do not include an item which should be included. answer: (c) completeness A7 An error in accuracy is committed when the financial statements include incorrect information about an item that should be included. answer: (a) accuracy A8 One of the principal goals of the auditor is to add credibility to this assertion. answer: (b) credibility A9 Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are significantly misstated. answer: (a) misstated A10 In addition to the financial statements, the auditor also examines the company's internal control procedures for effectiveness. answer: (c) control 187 Questions Index PHOTOCOPIABLE © www.english-test.net 81. advanced-81 TOEIC tests / Incomplete Sentences / Advanced level # 81 (Answer Keys) Auto Leasing A1 LeaseGuide.com author Al Hearn explains that automobile leasing is based entirely on the concept that you pay for the amount by which a vehicle's value depreciates during the time you're driving it. answer: (a) concept A2 Depreciation is the difference between a vehicle's original value and its value at lease-end (residual value), and is the primary factor that determines the cost of leasing. answer: (c) residual A3 Generally, European and Japanese automobile makes have lower depreciation than American brands. answer: (c) makes A4 Manufacturer's Suggested Retail Price (MSRP) is the full price for a vehicle as displayed on its window sticker, including optional packages and destination charges. answer: (d) Suggested A5 When you and your dealer sit down and agree on a lease price for a car, this becomes the capitalized cost, or "cap cost". answer: (a) capitalized A6 Cap cost can be reduced by rebates, factory-to-dealer incentives, trade-in credit, or a cash down payment; these are known as cap cost reductions. answer: (a) down A7 When you lease, you're tying up the leasing company's money while you're driving their car and they rightfully expect you to pay interest on that money, the same as with a loan. answer: (d) tying up A8 This interest is expressed as a money factor, sometimes called lease factor, and is specified as a small decimal number such as.00297. answer: (a) decimal A9 A good rule of thumb: Lease money factors, converted to an annual interest rate, should be comparable to, if not lower than local new-car loan interest rates. answer: (d) thumb A10 However, you may not qualify for great money factors unless if you have a spotless credit rating. answer: (c) a spotless 188 Questions Index PHOTOCOPIABLE © www.english-test.net 82. advanced-82 TOEIC tests / Incomplete Sentences / Advanced level # 82 (Answer Keys) Basic Electronics A1 Electronics is the study and utilization of systems that function by guiding electron flow in devices such as semiconductors. answer: (b) devices A2 Designing and building electronic circuits to solve practical problems is the mandate of electronics engineering. answer: (b) practical A3 Research into innovative semiconductor technology and applications is considered a branch of physics. answer: (a) branch A4 Electronic circuits are mainly used to control, process and distribute information, and for the conversion and distribution of electric power. answer: (d) conversion A5 These two purposes rely on the creation and detection of electromagnetic fields and electrical currents. answer: (a) fields A6 The rapid modern advancement of electronics began in earnest with the introduction of the radio. answer: (a) earnest A7 There are three divisions to an electronics system, an example of which is a television set. answer: (d) set A8 First, the input is a broadcast signal either received by its antenna or fed in through a cable. answer: (b) fed A9 Second, processing circuits inside the TV extract the brightness, colour and audio data from this signal. answer: (c) extract A10 Third and last, its output apparatus, a cathode ray tube, changes the electronic signals into a visible image on its screen. answer: (d) visible 189 Questions Index PHOTOCOPIABLE © www.english-test.net 83. advanced-83 TOEIC tests / Incomplete Sentences / Advanced level # 83 (Answer Keys) Basic Investment Types A1 Common shareholders have the right to elect directors, to vote on certain corporate matters, and to share in any residual assets of the company if it is wound up. answer: (d) residual A2 Common shareholders are the last to claim assets in cases of insolvency. answer: (b) insolvency A3 Preferred shareholders may have no voting rights, but special features on redemption or conversion of preferred shares into common shares exist in many cases. answer: (a) conversion A4 U.S. Savings Bonds are backed by the general credit and taxation powers of the federal government, so there is virtually no risk of default. answer: (b) default A5 A bond is a loan by an investor to the government or a company, which generally promises to pay a specified rate of interest and to repay a certain amount, the face value of the bond, at maturity. answer: (b) face A6 Certificates of Deposit (CDs) are short-term, interest-bearing savings certificates issued by banks or brokers, bearing a maturity date and a specified interest rate; they can be issued in any denomination. answer: (b) denomination A7 Money-market mutual funds (MMMF) pool money from large numbers of investors and use it to buy short-term investments, such as T-Bills and commercial paper. answer: (c) paper A8 The returns on mutual funds depend on the fund's investment objectives, described in its prospectus, and its success in achieving them. answer: (c) prospectus A9 Closed-end funds are much like mutual funds, but shares are not issued or redeemed on an ongoing basis; a set number of shares are issued and then listed on an exchange for trade among investors. answer: (a) Closed-end A10 Options give the holder the right to buy ('call' option) or sell ('put' option) a security at a specific price for a specific period of time. answer: (c) put 190 Questions Index PHOTOCOPIABLE © www.english-test.net 84. advanced-84 TOEIC tests / Incomplete Sentences / Advanced level # 84 (Answer Keys) Budgeting A1 Budgeting is a combination of mathematics and guesswork: some factors are precisely known, while others are less clear. answer: (b) factors A2 Every company should prepare a complete budget and constantly monitor its performance against that budget. answer: (d) monitor A3 Any variation from a budget should be investigated and explained, and prompt action should be taken to correct any problems. answer: (d) prompt A4 When you have set a budget, you should stick to it as much as possible, but revise it when necessary. answer: (c) stick A5 Budgeting itself can help a company reduce costs, because every item in it must be justified beforehand. answer: (b) justified A6 The wrong way to prepare a budget is to simply include everything at last year's level plus annual inflation. answer: (c) inflation A7 Focus first on the largest costs, since they should have the greatest potential for reduction. answer: (b) potential A8 Do not overestimate the projected sales for the budget period. answer: (d) projected A9 Creating a(n) cash flow forecast requires estimating the expected monthly expenditures and matching those against the likely monthly income. answer: (a) cash flow A10 Many companies maintain a rolling budget, so that they are continually budgeting for this time next year. answer: (c) rolling 191 Questions Index PHOTOCOPIABLE © www.english-test.net 85. advanced-85 TOEIC tests / Incomplete Sentences / Advanced level # 85 (Answer Keys) Business Law A1 The Commission on European Contract Law recognizes that throughout Europe there is great interest in developing a common European civil and commercial law. answer: (a) civil A2 The efforts and money which it will cost to unify the private law will be amply repaid when it is there. answer: (a) amply A3 In 1997, the Third Commission began to prepare rules on subjects which are common to contracts, torts and unjust enrichment, such as plurality of creditors and debtors, and assignment of debts and claims. answer: (d) assignment A4 With a few exceptions the members of the Commission of European Contract Law have been academics, but many of the academics are also practicing lawyers. answer: (c) practicing A5 The Members have not been representatives of specific political or governmental interests, and they have all pursued the same objective, to draft the most appropriate contract rules for Europe. answer: (a) interests A6 The Principles may be compared with the American Restatement of the Law of Contract, which consists of non-binding rules, or "soft law". answer: (d) soft law A7 Some of the Principles of European Contract Law reflect ideas which have not yet materialised in the law of any state. answer: (c) materialised A8 The Commission has made an effort to deal with those issues in contract which face business life of today and which may advance the trade. answer: (b) advance A9 The Council and the Commission of the EU have been invited to prepare new procedural legislation in cross border cases, in particular on those elements which are instrumental to a smooth judicial co-operation. answer: (c) cross A10 It is envisaged that the general principles of the law of contracts provided in the PECL will be integrated in what may eventually become a European Civil Code. answer: (c) integrated 192 Questions Index PHOTOCOPIABLE © www.english-test.net 86. advanced-86 TOEIC tests / Incomplete Sentences / Advanced level # 86 (Answer Keys) Business Letter Basics A1 The first goal in writing a business letter is to get the recipient's attention. answer: (b) attention A2 One fundamental principle of effective writing is to put the key information at the beginning. answer: (c) principle A3 Avoid weighing down the beginning of the letter with abundant information of which the reader is already aware, however. answer: (c) weighing A4 Effective writing is effortless reading that makes the recipient want to read further. answer: (b) effortless A5 In writing commercial correspondence, it is important to employ a friendly yet efficient tone. answer: (d) tone A6 Try to aim for a conversational style, but without employing bad grammar, slang, or otherwise questionable English. answer: (d) conversational A7 Be merciless in eliminating the padding that most people put into letters: it wastes the recipient's time and tries his or her patience. answer: (d) padding A8 A good business letter is simple and straightforward without being simplistic or patronizing. answer: (d) patronizing A9 The conclusion or ending paragraph should bring the communication to a polite and businesslike close. answer: (a) businesslike A10 Unfortunately, the ending paragraphs in much commercial correspondence employ wordy and overused phrases that detract from the letter's impact. answer: (d) impact 193 Questions Index PHOTOCOPIABLE © www.english-test.net 87. advanced-87 TOEIC tests / Incomplete Sentences / Advanced level # 87 (Answer Keys) Business Software Competitors A1 Brian Moran writes in SQL Server Magazine (March 2005) that an interesting battle is taking shape between Microsoft and Oracle, two titans of the database world, and the prize is business-application software. answer: (c) shape A2 Pricing for databases and prices for high-end business-application software can be inexorably entwined when a vendor controls both the business layer software and the database. answer: (b) inexorably A3 Vendors who sell both have a lot more margin to play with and can be a lot more creative about how they price a total package for customers. answer: (c) play A4 Microsoft and Oracle are fierce competitors in the database space; competition in other areas inevitably has an effect on their database competitions. answer: (c) fierce A5 Earlier this year, Oracle (the second largest provider of business application software) merged with PeopleSoft (the third largest provider), which had already swallowed J. D. Edwards (another major provider) back in 2003. answer: (d) swallowed A6 SAP is still the dominant provider, but Oracle's PeopleSoft acquisition is intended to grow the company's flagging application division. answer: (a) flagging A7 So a series of acquisitions has led to a(n) oligopoly in which SAP and Oracle share market leadership in the world of business application software. answer: (d) oligopoly A8 At the same time, Microsoft has been making slow but steady strides in building its own competitive offerings in this space. answer: (b) making A9 Microsoft has been on a buying spree since its purchase of Great Plains several years ago, acquiring Solomon and several other niche companies to stitch together the Microsoft Business Solutions Business Group. answer: (d) spree A10 The competition between Microsoft and Oracle isn't only about business software; both companies are striving to be platform companies. answer: (d) striving 194 Questions Index PHOTOCOPIABLE © www.english-test.net 88. advanced-88 TOEIC tests / Incomplete Sentences / Advanced level # 88 (Answer Keys) Cellular Telephones A1 All around the world, cellular telephones are being used more and more. answer: (b) around A2 Cell phones are hand- held devices; they are also called wireless or mobile phones. answer: (c) held A3 Cell phones are popular with users because they are small, light and easily transported. answer: (c) popular A4 Cellular telephones are actually little different than two- way radios. answer: (d) way A5 A caller speaks into a cell phone, and it picks up his or her voice, transforming the sound into radio waves. answer: (d) up A6 Then these radio waves are transmitted through the atmosphere until they meet a nearby base station. answer: (b) nearby A7 The station sends your phone call through the standard telephone network, where it eventually reaches the receiver. answer: (d) through A8 Cell phones provide a vast array of functions these days, and new ones are being added all the time. answer: (d) functions A9 When someone calls you, your cell phone receiver detects radio waves sent out by the base station. answer: (b) detects A10 Inside your cell phone, these waves are converted back into the sound of the caller's voice. answer: (a) back 195 Questions Index PHOTOCOPIABLE © www.english-test.net 89. advanced-89 TOEIC tests / Incomplete Sentences / Advanced level # 89 (Answer Keys) Commercial Property A1 According to NAREIT (Yungmann and Taube, 2001), property insurance coverage should be based on fair value, i.e., valuing assets at their current market values•— actual, if available, or theoretical, if not. answer: (d) theoretical A2 Much of the fair value debate has had a technical focus on how to place fair values on assets for which no market values exist. answer: (c) exist A3 While the technical issues are important, the real driver should be improving transparency for users of financial statements. answer: (d) transparency A4 A single global standard will increase the consistency of financial presentations, which currently vary considerably. answer: (c) consistency A5 A comprehensive standard facilitates comparability across all types of financial institutions. answer: (b) facilitates A6 When accounting values for assets diverge from their underlying market values, some managements take uneconomic actions to protect accounting performance measures. answer: (c) diverge A7 For example, during the U.S. savings and loan crisis in the 1980s, many institutions sold off assets with market values above book and continued to hold assets with book values above market. answer: (a) sold off A8 In hindsight, users of their financial statements were not well served by the accounting system in place at the time. answer: (b) in place A9 Fair value proponents argue that measuring financial assets as close as possible to their true underlying economic values removes these perverse incentives. answer: (b) proponents A10 Users would also benefit from a clearer picture of the economic health of the enterprise. answer: (b) health 196 Questions Index PHOTOCOPIABLE © www.english-test.net 90. advanced-90 TOEIC tests / Incomplete Sentences / Advanced level # 90 (Answer Keys) Company Benefits A1 Company benefits are often a significant portion of the employee's compensation package. answer: (a) package A2 When considering an offer, the candidate should examine any benefits offered by the prospective employer. answer: (d) prospective A3 Generous benefits can contribute up to 35 or 40 percent to the overall compensation for a job. answer: (b) overall A4 Health insurance is an important benefit; it is less expensive through the employer at group rates than when taking it out on one's own. answer: (c) group A5 Should the employee become ill or have an accident, his or her medical treatment is adequately covered. answer: (d) treatment A6 Many US employers now help cover the expense of childcare facilities in their communities. answer: (a) childcare A7 Another important benefit now often offered is flextime, which allows the employee to vary his or her working hours, within limits, each day. answer: (b) limits A8 On the other hand, fewer companies are offering pension plans that guarantee a fixed monthly sum to retirees. answer: (c) retirees A9 Another benefit, the stock ownership plan, permits the employee to buy shares of the company's stock at subsidized prices. answer: (c) shares A10 Telecommuting is a work plan that permits the employee to work from his or her home. answer: (b) Telecommuting 197 Questions Index PHOTOCOPIABLE © www.english-test.net 91. advanced-91 TOEIC tests / Incomplete Sentences / Advanced level # 91 (Answer Keys) Conference Advice A1 Being a delegate at conferences and other gatherings is a valuable opportunity whether or not you present a paper. answer: (c) paper A2 At such events, you will get an accurate sense of the current direction of the industry. answer: (c) sense A3 And if you are scheduled to give a talk, you will gain increased visibility. answer: (d) visibility A4 Actually, it is not very important for you to attend any of the vendor exhibitions. answer: (c) vendor A5 In order for you to be plugged into your industry and its market, it is important for you to go to such events. answer: (a) plugged A6 The importance of conferences is not the seminars or workshops, but the refreshment breaks and chatting at the bar after the day is done. answer: (d) done A7 The key feature of a conference is the chance to meet those whom you would not otherwise have met. answer: (c) otherwise A8 Be sure to carry your business cards, and do not hesitate to exchange cards with anyone you meet. answer: (d) exchange A9 And finally: do not forget to enjoy your host city: conference information packages often spotlight nearby attractions and sightseeing opportunities. answer: (d) spotlight A10 Well ahead of time, however, you should plan a balance of scheduled conference activities and events that suit your needs. answer: (d) suit 198 Questions Index PHOTOCOPIABLE © www.english-test.net 92. advanced-92 TOEIC tests / Incomplete Sentences / Advanced level # 92 (Answer Keys) Consumer Behaviour A1 Dr. Lars Perner explains that as well as the study of how products are purchased, consumer behavior also involves their use and disposal, since many environmental problems result from the latter. answer: (a) disposal A2 Consumer behavior involves services and ideas as well as tangible products. answer: (d) tangible A3 Product use is often of great interest to the marketer, because this may influence how a product is best positioned or how we can encourage increased consumption. answer: (c) positioned A4 For example, by understanding that consumers are more receptive to food advertising when they are hungry, we learn to schedule snack advertisements late in the afternoon. answer: (c) receptive A5 The impact of consumer behavior on society is also of relevance; for example, aggressive marketing of high fat foods may have serious repercussions for the national health. answer: (c) repercussions A6 Since new products are usually initially adopted by a few consumers and only spread later and gradually to the rest of the population, companies that introduce new products must be well financed so that they can stay afloat until their products become a commercial success. answer: (c) afloat A7 It is important to please initial customers, since they will in turn influence many subsequent customers' brand choices. answer: (c) subsequent A8 Common sense suggests that if you buy a 64-ounce bottle of laundry detergent, you should pay less per ounce than if you bought two 32-ounce bottles; in practice, however, you often pay a size premium by buying the larger quantity. answer: (d) premium A9 Consumer surveys, as any kind of research, are vulnerable to bias: the wording of a question can influence the outcome a great deal. answer: (b) bias A10 Physiological measures are occasionally used to examine consumer response; for example, advertisers may want to measure a consumer's level of arousal during various parts of an advertisement. answer: (b) Physiological 199 Questions Index PHOTOCOPIABLE © www.english-test.net 93. advanced-93 TOEIC tests / Incomplete Sentences / Advanced level # 93 (Answer Keys) Contracts and agreements A1 A contract is a binding agreement that is reached between two individuals or parties. answer: (c) binding A2 A contract between an individual and his or her employer is for the services s/he will provide in exchange for getting paid. answer: (a) paid A3 Signing a rental agreement to live in an apartment for one year is a kind of contract. answer: (c) Signing A4 The tenant promises to pay a certain amount of rent, and in return, the realty agent promises to supply the accommodation. answer: (b) certain A5 A customer enters into a contract each time s/he makes a purchase. answer: (d) enters A6 A contract is initiated when a person makes an offer to buy something and the seller accepts his or her offer. answer: (c) accepts A7 In order for a contract to be completed, something of value needs to be exchanged. answer: (b) value A8 A contract has been created when both the buyer and the seller have agreed that there will be some kind of consideration. answer: (a) consideration A9 Any contract that is made to buy or sell something that is illegal is not enforceable under law. answer: (c) illegal A10 A contract is required to be made by those who are legally capable, a condition called capacity. answer: (b) capacity 200 Questions Index PHOTOCOPIABLE © www.english-test.net 94. advanced-94 TOEIC tests / Incomplete Sentences / Advanced level # 94 (Answer Keys) Corporate Taxation A1 Rob Norton, of eCompany Now and Fortune magazines, notes in the article quoted below that corporate taxes are among the least efficient and least defensible of taxes. answer: (c) defensible A2 The tax is popular with the man in the street, who believes, incorrectly, that it is paid by corporations. answer: (b) in the street A3 The federal corporate income tax applies only to some businesses•— those chartered as corporations•— and not to partnerships or sole proprietorships. answer: (c) sole A4 The federal tax is levied at three different rates on different brackets of income: 15 percent on taxable income under $50,000; 25 percent on income between $50,000 and $75,000; and 34 percent on income above that. answer: (a) brackets A5 A good reason that state and local corporate income taxes remain low is that corporations could easily relocate out of states that imposed unusually high taxes. answer: (c) relocate A6 Except for emergency taxes in wartime, corporate profits were first taxed in 1909, when Congress enacted a 1 percent tax on corporation income. answer: (b) enacted A7 The Tax Reform Act of 1986 was designed to increase the share of federal revenues collected via the corporate income tax and to decrease the share from the individual income tax. answer: (a) individual A8 While the top corporate tax rate was cut, deductions for capital expenditures were severely curtailed, and as a result the effective tax rate for many corporations rose. answer: (b) curtailed A9 The central problem with the corporate income tax from an economic point of view is that, ultimately, only people can pay taxes. answer: (c) people A10 As early as the 17th century, Sir William Petty, one of the progenitors of modern economics, argued that a tax on the production and sale of commodities would eventually be shifted by producers to consumers, who would pay it in the form of higher prices. answer: (d) progenitors 201 Questions Index PHOTOCOPIABLE © www.english-test.net 95. advanced-95 TOEIC tests / Incomplete Sentences / Advanced level # 95 (Answer Keys) Detecting Competition A1 Mark Hennricks in Entrepreneur magazine (December 1999) warns that you should not count on friendly competition; if you do, your rivals might just steal your customers from under your nose. answer: (c) nose A2 Potential competitors for Sparks.com, an online retailer of real greeting cards, run the gamut, from the corner gift shop to Amazon.com. answer: (b) gamut A3 That awareness was brought home during a recent meeting with executives of another company, supposedly to explore setting up a strategic alliance with Lindau's 70-person firm. answer: (a) brought A4 "One of them laid down a briefcase and out popped one of our business plans from a year ago, which they had clearly obtained through channels we had not intended," recalls Lindau. answer: (b) channels A5 "Someone to whom we had given a confidential copy of our business plan had shared it with our competition." answer: (b) confidential A6 Query vendors, customers, consultants and others who do business with companies in and around your field to find out if and when new competitors are likely to emerge. answer: (a) do A7 Lindau says venture capitalists represent a fruitful source for competitive information for her because due diligence requires investors to research related businesses before backing a company. answer: (c) diligence A8 Companies that occupy spots on your value chain often understand your business and customers well enough to become potent rivals. answer: (d) potent A9 Carefully scrutinize firms that have mastered technology similar to yours, even if they appear to operate in distant sectors. answer: (d) scrutinize A10 No one wins every sale, but if you start to lose sales to companies you've never heard of, you may be witnessing the birth of new and unexpected competitors, and your early warning system may be faulty. answer: (d) witnessing 202 Questions Index PHOTOCOPIABLE © www.english-test.net 96. advanced-96 TOEIC tests / Incomplete Sentences / Advanced level # 96 (Answer Keys) Dotcom Retail Stores A1 Melissa Campanelli, a marketing and technology writer in Brooklyn, comments on the reasons for dotcoms to open a physical store to extend their life spans. answer: (c) spans A2 In the traditional realm of business, you open a retail store first and then launch a website, but since the dotcom revolution, many surviving dotcoms that skipped that first step are realizing the benefits of opening a brick-and-mortar location. answer: (a) brick-and-mortar A3 Anyone that has a business plan with a goal of e-commerce needs to augment that business plan with a retail reality. answer: (a) augment A4 "We realized very early that we could not exist purely as a dotcom," says Sal Perisano, of iParty Corp, "We knew we needed some terrestrial link, some reality other than a virtual company, to bolster what we were doing." answer: (c) bolster A5 Physical stores give your customers a more convenient way to return goods and try out products•— two options analysts say are sorely missing from Net stores. answer: (c) sorely A6 Owning a store offers a natural traffic flow into and out of the store, which allows an entrepreneur to gather names and begin direct-to-consumer marketing programs. answer: (d) traffic A7 However, opening a retail store is an expensive proposition. answer: (d) proposition A8 For those of you who lack the funding needed to open a retail store right now, try renting a kiosk in a local shopping mall. answer: (c) kiosk A9 If you do want to set up shop, you should do whatever you can to learn about launching and running a traditional retail business before you do so. answer: (c) shop A10 Your best bet is to determine ahead of time whether a multichannel strategy is a good move for your dotcom. answer: (a) bet 203 Questions Index PHOTOCOPIABLE © www.english-test.net 97. advanced-97 TOEIC tests / Incomplete Sentences / Advanced level # 97 (Answer Keys) Electronic Commerce A1 This paper by Derek Miers received critical acclaim when it was published in 1996, and the issues highlighted are just as relevant today. answer: (a) acclaim A2 Over recent years information technology has experienced an unprecedented degree of change, enabling the transformation of the basic mechanisms of business. answer: (d) mechanisms A3 Within the next years we will see the emergence of secure, cost-effective electronic payment systems to augment these technologies. answer: (c) augment A4 Those waiting for clear signs of this new age before acting will forever be destined to observe from the sidelines. answer: (d) sidelines A5 The fundamental opportunity offered by the Internet is for suppliers to gain direct access to consumers without the attendant costs associated with the maintenance of physical distribution channels-- people, bricks and mortar. answer: (c) mortar A6 Markets and marketing concepts will change radically, driven by those companies who successfully rise to the challenge. answer: (b) rise to A7 11th-century Europe saw the emergence of credit-based banking systems and financial instruments such as bills of exchange, and these concepts remain with us, in their modified form, to this day. answer: (c) to this day A8 These basic concepts underpin all modern forms of commerce. answer: (c) underpin A9 The rise of the Internet since the advent of the World Wide Web has provided an easy-to-use communication channel for businesses to contact current and potential customers. answer: (a) advent A10 The emergence of the Internet as a general communication channel has also given rise to the possibility of widespread electronic commerce. answer: (b) rise 204 Questions Index PHOTOCOPIABLE © www.english-test.net 98. advanced-98 TOEIC tests / Incomplete Sentences / Advanced level # 98 (Answer Keys) Email Do's and Don't's A1 Joan Lloyd, of Joan Lloyd & Associates, writes that email is a medium of communication unparalleled for sheer convenience. answer: (d) unparalleled A2 However, she warns that it also carries many pitfalls and even dangers in the office environment. answer: (c) pitfalls A3 Delivering a negative message is difficult, even when it is spoken face-to-face; defensiveness is almost guaranteed when it's received by email. answer: (b) defensiveness A4 What's worse, email can be printed and saved: both parties will often haul out their "documentation" to prove how the other party has wronged them. answer: (d) wronged A5 If you receive an email that ticks you off, and your first reaction is to counterattack, don't; close it and wait 24 hours before you respond. answer: (d) ticks A6 Because the tone and inflection are missing, it is more important to use friendly language, descriptive adjectives and carefully chosen words. answer: (a) inflection A7 If you don't consider how it will sound on the other end and take steps to shape the delivery so the meaning is understood, you could be doing damage control later. answer: (c) damage A8 When I get a sloppy email, with poor punctuation, misspelled words or in lower case letters, it tells me the person just doesn't realize that what and how they write telegraphs their credibility to others. answer: (c) telegraphs A9 Email feels private, but it's anything but. answer: (c) but A10 Write every email for your boss's eyes: it's a great way to keep you honest and politically sensitive. answer: (a) politically 205 Questions Index PHOTOCOPIABLE © www.english-test.net 99. advanced-99 TOEIC tests / Incomplete Sentences / Advanced level # 99 (Answer Keys) GAAP A1 Generally Accepted Accounting Principles are a set of accounting standards approved by the professional accounting industry. answer: (a) standards A2 GAAP are a combination of authoritative rules set by policy boards and the commonly accepted ways of recording and reporting financial information. answer: (a) authoritative A3 They can become accepted either as a result of due process or as a result of long term practice. answer: (d) process A4 Accountants cannot express the opinion that financial statements are "in conformity with generally accepted accounting principles" if such information includes any departures from these principles. answer: (a) departures A5 After the Stock Market Crash of 1929, the American Institute of Accountants introduced five broad principles of accounting which have won fairly general acceptance. answer: (c) Crash A6 It is relatively unimportant to investors what reporting method is used by a company, so long as they are assured that it is followed consistently every year. answer: (b) consistently A7 In 1934, the U.S. Congress created the Securities and Exchange Commission (SEC), giving it the authority to prescribe the methods used in preparing financial statements. answer: (d) Exchange A8 In 1938, Congress permitted companies to use a new inventory method, lifo, for income tax purposes. answer: (c) inventory A9 In 1939, the AIA recommended the phrasing, "present fairly in conformity with generally accepted accounting principles" in the standard form of the auditor's report. answer: (a) auditor's A10 The P & L monograph of 1940 promulgated the "matching principle", which places primary emphasis on the correspondence of costs with the revenues that they produce. answer: (d) matching 206 Questions Index PHOTOCOPIABLE © www.english-test.net 100. advanced-100 TOEIC tests / Incomplete Sentences / Advanced level # 100 (Answer Keys) Internal Communications A1 According to the Government Communication Network (GCN), a plan for internal communications should be integrated into every communication strategy. answer: (b) integrated A2 Winning the support of internal stakeholders can be as important as reaching key external audiences, and will be vital to the success of your communication programme. answer: (c) stakeholders A3 Internal communications need exactly the same kind of analysis and strategy as external communications: there will be distinct audience groups who should be segmented, and the same processes of information collection and insight generation apply to internal as to external groups. answer: (b) segmented A4 Far from being the poor relative of external communication, internal communication performs a crucial role within government. answer: (c) relative A5 By engaging staff with the departmental vision and values so that they can apply them in their day-to-day work, it creates a culture that does two things: it improves policy delivery and it increases the chance of meeting departmental objectives. answer: (b) engaging A6 Organisations that have a strong communications function frequently outperform those that don't; private sector companies that communicate effectively have a 19.4 per cent higher market premium than companies that do not. answer: (a) outperform A7 As with external communications, it is not enough to have a tactical approach; every department should have an internal communications strategy that is developed, implemented and monitored according to industry best practice and the needs of staff. answer: (a) best A8 Printed or online surveys might be your first port of call when it comes to understanding communication needs within your department. answer: (b) call A9 Before selecting a research method, produce a brief that sets out clear objectives and explains what you are trying to achieve. answer: (a) brief A10 You might also need to set up a different dialogue with each team within your department to take on board cultural differences. answer: (a) board 207 Questions Index

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