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Passage 42

  Excess inventory1, a massive problem for many busi-nesses,has several causes,some of which are unavoidable. Overstocks may accumulate through production overruns or errors. Certain styles and colors prove unpopular. With(5) some products-computers and software,toys,and books-last year‘s models are difficult to move even at huge discounts. Occasionally the competition introduces a better product. But in many cases the public’s buying tastes simply change, leaving a manufacturer or distributor with(10 )thousands (or millions)of items that the fickle2 public no longer wants.
  One common way to dispose of this merchandise is to sell it to a liquidator,who buys as cheaply as possible and  then resells the merchandise through catalogs,discount(15)stores,and other outlets3. However,liquidators may pay less for the merchandise than it cost to make it. Another way to dispose of excess inventory is to dump it. The corporation takes a straight cost write-off on its taxes and hauls the merchandise to a landfill. Although it is hard to believe,(20) there is a sort of convoluted4 logic5 to this approach. It is perfectly6 legal, requires little time or preparation on the company‘s part, and solves the problem quickly. The draw-back is the remote possibility of getting caught by the news media. Dumping perfectly useful products can turn into a(25) public relations nightmare. Children living in poverty are freezing and XYZ Company has just sent 500 new snow-suits to the local dump. Parents of young children are barely getting by and QPS Company dumps 1,000 cases of disposable diapers because they have slight imperfections.
  (30) The managers of these companies are not deliberately7 wasteful8; they are simply unaware9 of all their alternatives. In 1976 the Internal Revenue Service provided a tangible10 incentive11 for businesses to contribute their products to charity. The new tax law allowed corporations to deduct12 the(35)cost of the product donated plus half the differencebetween cost and fair market selling price,with the proviso that deductions14 cannot exceed twice cost. Thus, the federal government sanctions-indeed,encourages-an above-cost federal tax deduction13 for companies that donate inventory to charity.

  1. The author mentions each of the following as a cause of excess inventory EXCEPT
   (A) production of too much merchandise
   (B) inaccurate15 forecasting of buyers‘ preferences
   (C) unrealistic pricing policies
   (D) products‘ rapid obsolescence16
   (E) availability of a better product

  2. The passage suggests that which of the following is a kind of product that a liquidator who sells to discount stores would be unlikely to wish to acquire?
   (A) Furniture
   (B) Computers
   (C) Kitchen equipment
   (D) Baby-care products
   (E) Children‘s clothing

  3. The passage provides information that supports which of the following statements?
   (A) Excess inventory results most often from insufficient17 market analysis by the manufacturer.
   (B) Products with slight manufacturing defects may contribute to excess inventory.
   (C) Few manufacturers have taken advantage of the changes in the federal tax laws.
   (D) Manufacturers who dump their excess inventory are often caught and exposed by the news media.
   (E) Most products available in discount stores have come from manufacturers‘ excess-inventory stock.

  4. The author cites the examples in lines 25-29 most probably in order to illustrate18
   (A) the fiscal19 irresponsibility of dumping as a policy for dealing20 with excess inventory
   (B) the waste-management problems that dumping new products creates
   (C) the advantages to the manufacturer of dumping as a policy
   (D) alternatives to dumping explored by different companies
   (E) how the news media could portray21 dumping to the detriment22 of the manufacturer‘s reputation

  5. By asserting that manufacturers “are simply unaware”(line 31),the author suggests which of the following?
   (A) Manufacturers might donate excess inventory to charity rather than dump it if they knew about the provision in the federal tax code.
   (B) The federal government has failed to provide sufficient encouragement to manufacturers to make use of advantageous23 tax policies.
   (C) Manufacturers who choose to dump excess inventory are not aware of the possible effects on their reputation of media coverage24 of such dumping.
   (D) The manufacturers of products disposed of by dumping are unaware of the needs of those people who would find the products useful.
   (E) The manufacturers who dump their excess inventory are not familiar with the employment of liquidators to dispose of overstock.

  6. The information in the passage suggests that which of the following, if true,would make donating excess inv entory to charity less attractive to manufacturers than  dumping?
   (A) The costs of getting the inventory to the charitable destination are greater than the above-cost tax deduction.
   (B) The news media give manufacturers‘ charitable contributions the same amount of coverage that they give dumping.
   (C) No straight-cost tax benefit can be claimed for items that are dumped.
   (D) The fair-market value of an item in excess inventory is 1.5 times its cost.
   (E) Items end up as excess inventory because of a change in the public‘s preferences.

  7. Information in the passage suggests that one reason manufacturers might take advantage of the tax provision mentioned in the last paragraph is that
   (A) there are many kinds of products that cannot be legally dumped in a landfill
   (B) liquidators often refuse to handle products with slight imperfections
   (C) the law allows a deduction in excess of the cost of manufacturing the product
   (D) media coverage of contributions of excess-inventory products to charity is widespread and favorable
   (E) no tax deduction is available for products dumped or sold to a liquidator


1 inventory 04xx7     
  • Some stores inventory their stock once a week.有些商店每周清点存货一次。
  • We will need to call on our supplier to get more inventory.我们必须请供应商送来更多存货。
2 fickle Lg9zn     
  • Fluctuating prices usually base on a fickle public's demand.物价的波动往往是由于群众需求的不稳定而引起的。
  • The weather is so fickle in summer.夏日的天气如此多变。
3 outlets a899f2669c499f26df428cf3d18a06c3     
n.出口( outlet的名词复数 );经销店;插座;廉价经销店
  • The dumping of foreign cotton blocked outlets for locally grown cotton. 外国棉花的倾销阻滞了当地生产的棉花的销路。 来自《简明英汉词典》
  • They must find outlets for their products. 他们必须为自己的产品寻找出路。 来自《现代汉英综合大词典》
4 convoluted NvnzlG     
  • The snake slithered through a convoluted path.蛇在羊肠小道上爬行。
  • The policy is so convoluted even college presidents are confused.这项政策太令人费解,甚至连大学校长们也是一头雾水。
5 logic j0HxI     
  • What sort of logic is that?这是什么逻辑?
  • I don't follow the logic of your argument.我不明白你的论点逻辑性何在。
6 perfectly 8Mzxb     
  • The witnesses were each perfectly certain of what they said.证人们个个对自己所说的话十分肯定。
  • Everything that we're doing is all perfectly above board.我们做的每件事情都是光明正大的。
7 deliberately Gulzvq     
  • The girl gave the show away deliberately.女孩故意泄露秘密。
  • They deliberately shifted off the argument.他们故意回避这个论点。
8 wasteful ogdwu     
  • It is a shame to be so wasteful.这样浪费太可惜了。
  • Duties have been reassigned to avoid wasteful duplication of work.为避免重复劳动浪费资源,任务已经重新分派。
9 unaware Pl6w0     
  • They were unaware that war was near. 他们不知道战争即将爆发。
  • I was unaware of the man's presence. 我没有察觉到那人在场。
10 tangible 4IHzo     
  • The policy has not yet brought any tangible benefits.这项政策还没有带来任何实质性的好处。
  • There is no tangible proof.没有确凿的证据。
11 incentive j4zy9     
  • Money is still a major incentive in most occupations.在许多职业中,钱仍是主要的鼓励因素。
  • He hasn't much incentive to work hard.他没有努力工作的动机。
12 deduct pxfx7     
  • You can deduct the twenty - five cents out of my allowance.你可在我的零用钱里扣去二角五分钱。
  • On condition of your signing this contract,I will deduct a percentage.如果你在这份合同上签字,我就会给你减免一个百分比。
13 deduction 0xJx7     
  • No deduction in pay is made for absence due to illness.因病请假不扣工资。
  • His deduction led him to the correct conclusion.他的推断使他得出正确的结论。
14 deductions efdb24c54db0a56d702d92a7f902dd1f     
扣除( deduction的名词复数 ); 结论; 扣除的量; 推演
  • Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 许多年纪比较大的军官往往相信特务的发现,而不怎么相信密码分析员的推断。
  • You know how you rush at things,jump to conclusions without proper deductions. 你知道你处理问题是多么仓促,毫无合适的演绎就仓促下结论。
15 inaccurate D9qx7     
  • The book is both inaccurate and exaggerated.这本书不但不准确,而且夸大其词。
  • She never knows the right time because her watch is inaccurate.她从来不知道准确的时间因为她的表不准。
16 obsolescence bIjxr     
  • For some small unproductive mills,the reality is not merger but obsolescence and bankruptcy.对一些效率低下的小厂而言,现实不是合并,而是可能被淘汰和破产。
  • Finally,the cost approach can provide a basis for allocating penalties,specifically economic obsolescence.最后,成本法可作为一个分配因陈旧特别是因经济
17 insufficient L5vxu     
  • There was insufficient evidence to convict him.没有足够证据给他定罪。
  • In their day scientific knowledge was insufficient to settle the matter.在他们的时代,科学知识还不能足以解决这些问题。
18 illustrate IaRxw     
  • The company's bank statements illustrate its success.这家公司的银行报表说明了它的成功。
  • This diagram will illustrate what I mean.这个图表可说明我的意思。
19 fiscal agbzf     
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
20 dealing NvjzWP     
  • This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
  • His fair dealing earned our confidence.他的诚实的行为获得我们的信任。
21 portray mPLxy     
  • It is difficult to portray feelings in words.感情很难用言语来描写。
  • Can you portray the best and worst aspects of this job?您能描述一下这份工作最好与最坏的方面吗?
22 detriment zlHzx     
  • Smoking is a detriment to one's health.吸烟危害健康。
  • His lack of education is a serious detriment to his career.他的未受教育对他的事业是一种严重的妨碍。
23 advantageous BK5yp     
  • Injections of vitamin C are obviously advantageous.注射维生素C显然是有利的。
  • You're in a very advantageous position.你处于非常有利的地位。
24 coverage nvwz7v     
  • There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
  • This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。