Ch010 Management of Translation Exposure
Eun & Resnick 4e
CHAPTER 10 Management of Translation Exposure
Translation Methods
Current/Noncurrent Method
Monetary/Nonmonetary Method
Temporal Method
Current Rate Method
Financial Accounting Standards Board Statement 8
Financial Accounting Standards Board Statement 52
The Mechanics of the FASB 52 Translation Process
Highly Inflationary Economies
CASE APPLICATION: Consolidation of Accounts according to FASB 52: The Centralia Corporation
Management of Translation Exposure
Translation Exposure versus Transaction Exposure
Hedging Translation Exposure
Balance Sheet Hedge
Derivatives Hedge
Translation Exposure versus Operating Exposure
Empirical Analysis of the Change from FASB 8 to FASB 52
Summary
MINI CASE: Sundance Sporting Goods, Inc.
Translation Methods
1Translation exposure refers to:
a)accounting exposure
b)the effect that an unanticipated change in exchange rates will have on the consolidated
financial reports of an MNC
c)the change in the value of a foreign subsidiaries assets and liabilities denominated in a
foreign currency, as a result of exchange rate change fluctuations, when viewed from the perspective of the parent firm
d)all of the above
Answer: d)
2The recognized methods for consolidating the financial reports of an MNC are:
a)short/long term method, current/future method, flexible/inflexible method, and
economic/noneconomic method
b)current/noncurrent method, monetary/nonmonetary method, short/long term method, and
current/future method
c)current/noncurrent method, monetary/nonmonetary method, temporal method, and
current rate method
d)temporal method, current rate method, flexible/inflexible method, and
economic/noneconomic method
Answer: c)
3How many method of foreign currency translation have been used in recent years? (U.S.
GAAP.)
a)One
b)Two
c)Three
d)Four
Answer: d)
4The difference between accounting exposure and translation exposure
a)Translation is about going from one language to another, accounting is just about the
numbers.
b)Accounting exposure and translation exposure are the same thing.
c)Hedging one always involves increasing the other
d)Hedging one might involve increasing the other
Answer: b)
5When exchange rates change
a)The value of a foreign subsidiary’s foreign currency denominated assets and liabilities
change to new numbers still denominated in the foreign currency.
b)The value of a foreign subsidiary’s foreign currency denominated assets and liabilities
change when redenominated into the home currency.
c)Hedging should be done after the change.
d)None of the above
Answer: b)
Current/Noncurrent Method
6The generally accepted method for consolidating the financial reports of an MNC from the 1930s to 1975 was:
a)Current/noncurrent method
b)Monetary/nonmonetary method
c)Temporal method
d)Current rate method
Answer: a)
7When using the current/noncurrent method, current assets are defined as
a)Inventory that is currently salable
b)Assets with a maturity of one year or less
c)Assets with a maturity of 90 days or less
d)None of the above
Answer: b)
8When using the current/noncurrent method,
a)Most income statement items are translated at the average exchange rate for the
accounting period.
b)Revenue and expense items that are associated with noncurrent assets or liabilities are
translated at the historical rate that applies to the applicable balance sheet items.
c)Depreciation expense is translated at the historical rate that applies to the applicable
depreciable asset items.
d)All of the above
Answer: d)
9The underlying principle of the current/noncurrent method is
a)Assets and liabilities should be translated based on their maturity
b)Monetary balance sheet accounts should be translated at the spot rate; nonmonetary
accounts are translated at the historical rate in effect when the account was first recorded
c)Monetary accounts are translated at the current exchange rate; other accounts are
translated at the current exchange rate if they are carried on the books at current value;
items carried at historical cost are translated at historic exchange rates.
d)All balance sheet accounts are translated at the current exchange rate, except stockholder
equity
Answer: a)
10Under the current/noncurrent method
a) A foreign subsidiary with current assets in excess of current liabilities will cause a
translation gain (loss) if the local currency appreciates (depreciates).
b) A foreign subsidiary with current assets in excess of current liabilities will cause a
translation loss (gain) if the local currency appreciates (depreciates).
c) A foreign subsidiary with current assets in excess of current liabilities will cause a
translation gain (loss) if the local currency depreciates (appreciates).
d)Both b) and c)
Answer: a)
Monetary/Nonmonetary Method
11The underlying principle of the monetary/nonmonetary method is
a)Assets and liabilities should be translated based on their maturity
b)Monetary balance sheet accounts should be translated at the spot rate; nonmonetary
accounts are translated at the historical rate in effect when the account was first recorded
c)Monetary accounts are translated at the current exchange rate; other accounts are
translated at the current exchange rate if they are carried on the books at current value;
items carried at historical cost are translated at historic exchange rates.
d)All balance sheet accounts are translated at the current exchange rate, except stockholder
equity
Answer: b)
12In comparison to the current/noncurrent method, the monetary/nonmonetary method
a)Differs substantially with regard to the treatment of inventory.
b)Classifies accounts on the basis of similarity of attributes rather than the similarity of
maturities.
c)a) and b)
d)None of the above
Answer: c)
Temporal Method
13Using the temporal method, monetary accounts such as cash
a)Are not translated
b)Are translated at the average exchange rate prevailing over the reporting period
c)Are translated at the current forward exchange rate
d)Are translated at the current spot exchange rate
Answer: d)
a)Assets and liabilities should be translated based on their maturity
b)Monetary balance sheet accounts should be translated at the spot rate; nonmonetary
accounts are translated at the historical rate in effect when the account was first recorded
c)Monetary accounts are translated at the current exchange rate; other accounts are
translated at the current exchange rate if they are carried on the books at current value;
items carried at historical cost are translated at historic exchange rates.
d)All balance sheet accounts are translated at the current exchange rate, except stockholder
equity
Answer: c)
15Since fixed assets and inventory are usually carried at historical costs,
a)The temporal method and the monetary/nonmonetary methods will typically
provide the same translation.
b)The current rate method and the monetary/nonmonetary methods will typically
provide the same translation.
c)The temporal method and the current/noncurrent methods will typically provide
the same translation.
d)None of the above
Answer: a)
Current Rate Method
16The simplest of all translation methods to apply is:
a)Current/noncurrent method
b)Monetary/nonmonetary method
c)Temporal method
d)Current rate method
Answer: d)
17Under the current rate method,
a)Income statement items are to be translated at the exchange rate at the dates the items are
recognized.
b)Since a) is generally impractical, an appropriately weighted average exchange rate for
the period may be used for translation.
c)All balance sheet accounts are translated at the current exchange rate, except stockholder
equity.
d)All of the above
Answer: d)
18Which of the following is a translation method where the gain or loss due to translation adjustment does not affect reported cash flows?
a)current/noncurrent method
b)current rate method
c)current/future method
d)short/long term method
Answer: b)
a)Assets and liabilities should be translated based on their maturity
b)Monetary balance sheet accounts should be translated at the spot rate; nonmonetary
accounts are translated at the historical rate in effect when the account was first recorded
c)Monetary accounts are translated at the current exchange rate; other accounts are
translated at the current exchange rate if they are carried on the books at current value;
items carried at historical cost are translated at historic exchange rates.
d)All balance sheet accounts are translated at the current exchange rate, except stockholder
equity.
Answer: d)
20Which of the following is a translation method where a “plug equity account called cumulative translation adjustment is used?
a)current/noncurrent method
b)current rate method
c)current/future method
d)short/long term method
Answer: b)
Financial Accounting Standards Board Statement 8
21FASB 8 is essentially the:
a)Current/noncurrent method
b)Monetary/nonmonetary method
c)Temporal method
d)Current rate method
Answer: c)
22FASB 8
a)Required taking foreign exchange gains or losses through the income statement
b)Caused reported earnings to fluctuate substantially from year to year
c)Ran into acceptance problems from the accounting profession and MNCs
d)All of the above
Answer: d)
23Consider a U.S.-based MNC with manufacturing activities in Japan. The result of a change in the ￥-$ exchange rate on the assets and liabilities of the consolidated balance sheet is: Exposed assets ￥700,000,000
Exposed liabilities ￥500,000,000
Ignoring transaction exposure in the yen, the translation exposure will indicate a possible need for a “balance sheet hedge” of:
a)￥200,000,000 more liabilities denominated in yen
b)￥200,000,000 less assets denominated in yen
c)a) or b)
d)none of the above
Answer: c)
24 A U.S. parent firm, as result of its business activities in Germany, has a net exposure of
€1,000,000. The consolidated reports were prepared at the year-end for the last two
successive years. If the exchange rates on these reporting dates changed from $1.00 = €1.10 to $1.00 = €1.00,then the translation exposure report will indicate a “reporting currency imbalance” of:
a)$90,910
b)$0
c)–$90,910
d)none of the above
Answer: a)
Rationale:
(€1,000,000/€1.00) – (€1,000,000/€1.10) = $1,000,000 – $909,091 = $90,910
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT TWO QUESTIONS Financial Accounting Standards Board (FASB) Statements 8 and 52 relate to the translation methods. The following outlines the objectives and descriptions of the two statements.
(i)- measure in dollars an enterprise’s assets, liabilities, revenues, or expenses that are
denominated in a foreign currency according to generally accepted accounting principles (ii)- is essentially the temporal method of translation (with some subtle differences)
(iii)- provide information that is generally compatible with the expected economic effects of a rate change on an enterprise’s cash flows and equity
(iv)- reflect in consolidated statements the financial results and relationships of the individual consolidated entities as measured in their functional currencies in
conformity with U.S. generally accepted accounting principles
25Which of the above statements pertain to FASB 8?
a)(i)
b)(i) and (ii)
c)(iii) and (iv)
d)(i), (ii), and (iii)
Answer: b)
Financial Accounting Standards Board Statement 52
26Which of the above statements pertain to FASB 52?
a) (i)
b) (i) and (ii)
c)(iii) and (iv)
d) (i), (ii), and (iii)
Answer: c)
27The International Accounting Standards Committee
a)Is now known as The International Accounting Standards Board
b)Is charged with accounting standards at the International House of Pancakes
c)Includes many convicted felons among its members
d)All of the above
Answer: a)
28In what year were U.S. MNCs mandated to implement FASB 52?
a)1952
b)1962
c)1972
d)1982
Answer: d)
29The “functional currency” is defined in FASB 52 as:
a)the currency of the primary economic environment in which the entity operates
b)the currency in which the MNC prepares its consolidated financial statements
c) a currency that is not the parent firm’s home country currency
d)b) and c)
Answer: a)
30The “reporting currency” is defined in FASB 52 as:
a)the currency of the primary economic environment in which the entity operates
b)the currency in which the MNC prepares its consolidated financial statements
c) a currency that is not the parent firm’s home country currency
d)a) and c)
Answer: b)
31The stated objectives of FASB 52 are:
a)To provide information that is generally compatible with the expected economic effects
of a rate change on an enterprise’s cash flows and equity.
b)To reflect in consolidated statements the financial results and relationships of the
individual consolidated entities as measured in their functional currencies in conformity with U.S. generally accepted accounting principles.
c)a) and b)
d)None of the above
Answer: c)
The Mechanics of the FASB 52 Translation Process
32The actual translation process prescribed by FASB 52 is
a) A two-stage process
b) A twelve step program
c) A five-step process
d)None of the above.
Answer: a)
33When determining the functional currency
a)If the sales prices for the foreign entity’s products are generally not responsive on a
short-term basis to exchange rate changes, but are determined more by local competition and government regulation, the local currency should be the functional currency.
b)If there is an active local market for the foreign entity’s products the local currency
should be the functional currency.
c)If factor of production costs for the foreign entity are primarily, and on a continuing
basis, costs for components obtained from the parent’s country the funct ion currency
should be the home currency.
d)All of the above
Answer: d)
34Salient economic factors for determining the functional currency include:
a)Cash flow indicators
b)Sales price indicators
c)Sales Market indicators
d)All of the above
Answer: d)
35XYZ Corporation, a U.S. parent firm, has a wholly owned sales affiliate, ABC Ltd., in the United Kingdom. The affiliate was established to service to the local market.
Assume that:
1. the functional currency of ABC is the pound
2. the reporting currency is the dollar
3. the initial exchange rate $1.00 = ￡ 0.67
ABC’s nonconsolidated balance sheets and the footnotes to the financial statements indicate that ABC owes the parent firm ￡200,000. Assume that, XYZ had made an investment of $500,000 in the affiliate. Under FASB 52, the intercompany debt and investment will appear on the consolidated balance sheet as:
a)￡200,000
b)$201,493
c)$298,507
d)none of the above
Answer: d)
Rationale: The intracompany debt and investment net out in the consolidation
36The impact of financing in determining the functional currency
a)Financing does not impact the choice of functional currency due to the integrated nature
of capital markets.
b)If the financing of the foreign entity is primarily denominated in the foreign currency and
the debt service obligations are normally handled by the foreign entity, the functional
currency is the foreign currency.
c)If the financing of the foreign entity is primarily from the parent, with debt service
obligations are normally handled by the parent, the functional currency is the home
currency.
d)b) and c)
Answer: d)
37If a foreign entity is only a shell company for carrying accounts that could be carried on the parent’s books,
a)The functional currency would generally be the parent’s currency.
b)The functional currency would generally be the local currency.
c)There is no reason to hedge transaction exposure
d)None of the above
Answer: a)
Highly Inflationary Economies
38 A highly inflationary economy is define in FASB 52 as:
a)One that has cumulative inflation of approximately 100 percent or more over a 3-year
period.
b)One that has current inflation of approximately 40 percent per year.
c)One that has going-forward expected inflation of approximately 40 percent per year
d)None of the above
Answer: a)
39In highly inflationary economies, FASB 52 requires that the foreign entities financial statement be remeasured from the local currency “as if the functional currency were the reporting currency”. The purpose of this requirement is
a)To prevent large important balance sheet accounts, carried at historical values, from
having insignificant values once translated into the reporting currency at the current rate.
b)To prevent games playing in the accounting books.
c)To prevent having to restate the books at a later date.
d)None of the above.
Answer: a)
Management of Translation Exposure
40Which of the following are true?
a)Some items that are a source of transaction exposure are also a source of translation
exposure.
b)Some items that are a source of transaction exposure are NOT also a source of
translation exposure
c)Both a) and b) are correct
d)None of the above
Answer: c)
Translation Exposure versus Transaction Exposure
41Generally speaking,
a)It is not possible to hedge both translation exposure and transaction exposure
simultaneously.
b)If a firm can hedge translation exposure then transaction exposure will be simultaneously
hedged.
c)If a firm can hedge transaction exposure then translation exposure will be simultaneously
hedged
d)None of the above
Answer: a)
Balance Sheet Hedge
42Translation exposure,
a)Is not entity specific, rather it is currency specific.
b)Is not currency specific, rather it is entity specific.
c)Involves restatement from Italian to French
d)None of the above
Answer: a)
43The source of translation exposure
a)Is a mismatch of net assets and net liabilities denominated in the same currency.
b)Is a mismatch of net assets and net liabilities denominated in the different currencies.
c)Is a mismatch of current assets and current liabilities denominated in different currencies.
d)None of the above
Answer: a)
44 A balance sheet hedge seeks to
a)Eliminate any mismatch of net assets and net liabilities denominated in the same
currency.
b)Transfer accounting exposure to transaction exposure.
c)Create cumulative translation adjustment
d)None of the above
Answer: a)
Derivatives Hedge
45 A derivatives hedge that seeks to eliminate translation exposure
a)Eliminate any mismatch of the rate of change in net assets and the rate of change in net
liabilities denominated in the same currency.
b)Really involves speculation about foreign exchange rate changes.
c)By simultaneously going long and short in currency futures contracts.
d)None of the above
Answer: b)
46Consider a U.S.-based MNC with manufacturing activities in Japan. The result of a change in the ￥-$ exchange rate on the assets and liabilities of the consolidated balance sheet is: Exposed assets ￥700,000,000
Exposed liabilities ￥500,000,000
Ignoring transaction exposure in the yen, the translation exposure will indicate a possible need for a “derivatives hedge” of:
a)Short position in ￥200,000,000 currency futures
b)Long position in ￥200,000,000 currency futures
c)a) or b)
d)none of the above
Answer: d)
Translation Exposure versus Operating Exposure
47With regard to translation exposure versus operating exposure
a)Upper management should be more concerned with translation exposure.
b)Any discussion really involves speculation about foreign exchange rate changes.
c)Upper management should be more concerned with operating exposure.
d)None of the above
Answer: c)
Empirical Analysis of the Change from FASB 8 to FASB 52
48With regard to research on the stock price reaction to mandated accounting changes such as FASB 52
a)The results suggest that market participants seem to think that changes in reported
earnings do not change the actual cash flows in multinational firms.
b)The results suggest that market agents react to “cosmetic” earning changes.
c)The results suggest that market agents do not react to cosmetic earning changes that do
not affect value.
d)None of the above
Answer: c)
Summary
49Which of the following are true statements?
a)Since translation exposure does not have an immediate direct effect on operating cash
flows, its control is relatively unimportant in comparison to transaction exposure, which involves potential real cash flow losses.
b)Since it is generally not possible to eliminate both translation exposure and transaction
exposure, it is more logical to effectively manage transaction exposure.
c)a) and b) are both true
d)None of the above
Answer: c)
50With regard to foreign currency translation methods used by foreign MNCs
a)Foreign currency translation methods are generally only used by U.S. based MNCs since
foreign firms have a built in hedge by being foreign.
b)Are generally the same methods used by U.S.-based firms.
c)Are exactly the same methods used by U.S.-based firms since GAAP is GAAP
d)None of the above are true statements.
Answer d)
Rationale: See exhibit 10.4
Unit 9 How to Grow Old 课文翻译
Unit 9 How to Grow Old Bertrand A. Russell 1. In spite of the title, this article will really be on how not to grow old, which, at my time of life, is a much more important subject. My first advice would be, to choose your ancestors carefully. Although both my parents died young, I have done well in this respect as regards my other ancestors. My maternal grandfather, it is true, was cut off in the flower of his youth at the age of sixty-seven, but my other three grandparents all lived to be over eighty. Of remoter ancestors I can only discover one who did not live to a great age, and he died of a disease which is now rare, namely, having his head cut off. A great-grandmother of mine, who was a friend of Gibbon, lived to the age of ninety-two, and to her last day remained a terror to all her descendants. My maternal grandmother, after having nine children who survived, one who died in infancy, and many miscarriages, as soon as she became a widow devoted herself to women’s higher education. She was one of the founders of Girton College, and worked hard at opening the medical profession to women. She used to relate how she met in Italy an elderly gentleman who was looking very sad. She inquired the cause of his melancholy and he said that he had just parted fro m his two grandchildren. “Good gracious,” she exclaimed, “I have seventy-two grandchildren, and if I were sad each time I parted from one of them, I should have a dismal existence!” “Madre snaturale,” he replied. But speaking as one of the seventy-two, I prefer her recipe. After the age of eighty she found she had some difficulty in getting to sleep, so she habitually spent the hours from midnight to 3 a.m. in reading popular science. I do not believe that she ever had time to notice that she was growing old. This, I think, is the proper recipe for remaining young. If you have wide and keen interests and activities in which you can still be effective, you will have no reason to think about the merely statistical fact of the number of years you have already lived, still less of the probable brevity of your future. 2. As regards health, I have nothing useful to say since I have little experience of illness. I eat and drink whatever I like, and sleep when I cannot keep awake. I never do anything whatever on the ground that it is good for health, though in actual fact the things I like doing are mostly wholesome. 3. Psychologically there are two dangers to be guarded against in old age. One of these is undue absorption in the past. It does not do to live in memories, in regrets for the good old days, or in sadness about friends who are dead. One’s thoughts must be directed to
科普版英语六年级下册课文及翻译 (直接打印版)
Lesson 1 I’m not feeling well. Let’s talk （M=Mom, T= Tom） M: What,'s the matter, Tom T: I'm not feeling well, Mom M: Do you have a cold T: Yes, I think so. Could you give me some water, please M: Here you are. T: Thank you, Mom. M: Tom, you must go and see a doctor. T: OK, Mom. M: It's cold outside. You must wear your coat. T: OK, Mom. Could you pass me my coat,please M: Here you are. T: Thank you, Mom M: Tell me your teacher's number. I'll call him and tell him you are sick. T: OK. Here it is. 译文 (M=妈妈,T=汤姆) 妈妈:怎么了,汤姆 汤姆:我感觉不舒服,妈妈。 妈妈:你感冒了吗 汤姆:是的,我想是这样的。您能给我一些水吗 妈妈:给你。 汤姆:谢谢您,妈妈。 妈妈:汤姆,你必须去看医生. 汤姆:好的,妈妈。 妈妈:外面很冷。你必须穿你的外套。 汤姆:好的,妈妈。您能把我的外套递给我吗 妈妈:给你。 汤姆:谢谢您,妈妈。 妈妈:告诉我你老师的电话号码。我将给他打电话告诉他你生病了。
Unit 1 A Class Act 课文翻译
Unit 1 A CLASS ACT Florence Cartlidge 1. Growing up in bomb-blitzed Manchester during the Second World War meant times were tough, money was short, anxiety was rife and the pawnshop was a familiar destination for many families, including mine. 2. Yet I could not have asked for more enterprising and optimistic parents. They held our family together with hard work, dignity and bucketloads of cheer. My sturdy and ingenious father could turn his hand to almost anything and was never short of carpentry and handyman work. He even participated in the odd bout of backstreet boxing to make ends meet. For her part, our mum was thrifty and meticulously clean, and her five children were always sent to school well fed, very clean, and attired spotlessly, despite the hard conditions. 3. The trouble was, although my clothes were ironed to a knife-edge, and shoes polished to a gleam, not every item was standard school uniform issue. While Mum had scrimped and saved to obtain most of the gear, I still didn’t have the pres cribed blue blazer and hatband. 4. Because of the war, rationing was in place and most schools had relaxed their attitude towards proper uniforms, knowing how hard it was to obtain clothes. Nevertheless, the girls’ school I attended made it strict policy that each of its students was properly attired, and the deputy headmistress who ran the daily assembly made it her mission to teach me a lesson. 5. Despite my attempts at explaining why I couldn’t comply, and despite the fact that I was making slow progress towards the full uniform, every day I would be pulled out of line and made to stand on the stage as a shining example of what not to wear to school. 6. Every day I would battle back tears as I stood in front of my peers, embarrassed and, most often, alone. My punishment also extended to being barred from the gym team or to not taking part in the weekly ballroom dancing classes, which I adored. I desperately
Thechaser追逐者中英对照
The Chaser John Collier Alan Auste n, as n ervous as a kitte n, went up certa in dark and creaky stairs in the n eighborhood of Pell Street , and peered about for a long time on the dim landing before he found the n ame he wan ted writte n obscurely on one of the doors. He pushed ope n this door, as he had bee n told to do, and found himself in a tiny room, which contained no furn iture but a pla in kitche n table, a rock in g-chair, and an ordinary chair. On one of the dirty buff-colored walls were a couple of shelves, containing in all perhaps a doze n bottles and jars. An old man sat in the rock in g-chair, read ing a n ewspaper. Ala n, without a word, handed him the card he had been given. 人Sit down, Mr. Austen, said the old man very politely. 人I am glad to make your acqua intance. 人Is it true, asked Alan, 人that you have a certain mixture that has ! er ! quite extraordinary effects? 人My dear sir, replied the old man, 人my stock in trade is not very large ! I don …t deal in laxatives and teething mixtures ! but such as it is, it is varied. I think nothing I sell has effects which could be precisely described as ordin ary. 人Well, the fact is ! began Alan. 人Here, for example, interrupted the old man, reaching for a bottle from the shelf. 人Here is a liquid as colorless as water, almost tasteless, quite imperceptible in coffee, wine, or any other beverage. It is also quite imperceptible to any known method of autopsy. 人Do you mean it is a poison? cried Alan, very much horrified. 人Call it a glove-cleaner if you like, said the old man indifferently. 人Maybe it will clean gloves. I have never tried. One might call it a life-cleaner. Lives need cleaning sometimes. 人I want nothing of that sort, said Alan. 人Probably it is just as well, said the old man. 人Do you know the price of this? For one teaspoonful, which is sufficient, I ask five thousa nd dollars. Never less. Not a penny less. 人I hope all your mixtures are not as expensive, said Alan apprehe nsively. 人Oh dear, no, said the old man. 人It would be no good charg ing that sort of price for a love poti on, for example. Young people who n eed a love poti on very seldom have five thousa nd dollars. Otherwise they would not n eed a love poti on. 人I am glad to hear that, said Alan. 人I look at it like this, said the old man. 人Please a customer with one article, and he will come back whe n he n eeds another. Even if it is more costly. He will save up for it, if n ecessary. 人So, said Alan, 人you really do sell love potions? 人If I did not sell love potions, said the old man, reaching for another bottle, 人I should not have mentioned the other matter to you. It is only whe n one is in a positi on to oblige that one can afford to be so con fide ntial. 人And these potions, said Alan. 人They are not just ! just ! er ! 人Oh, no, said the old man. 人Their effects are permanent, and exte nd far bey ond casual impulse. But they in clude it. Boun tifully, in siste ntly. Everlast in gly. 人Dear me! said Alan, attempting a look of scientific detachme nt. "How very in teresti ng! 人But consider the spiritual side, said the old man.
outofstep课文全文翻译.doc
Unit 3 Out of Step Bill Bryson 1 After living in England for 20 years, my wife and I decided to move back to the United States. We wanted to live in a town small enough that we could walk to the business district, and settled on Hanover, N.H., a typical New England town—pleasant, sedate and compact. It has a broad central green surrounded by the venerable buildings of Dartmouth College, an old-fashioned Main Street and leafy residential neighborhoods. 2 It is, in short, an agreeable, easy place to go about one’ s business on foot, and ye far as I can tell, virtually no one does. 3 Nearly every day, I walk to the post office or library or bookstore, and sometimes, if I am feeling particu larly debonair, I stop at Rosey Jekes Caféa cappuccino. Occasionally, in the evenings, my wife and I stroll up to the Nugget Theatre for a movie or to Murphy’ s on the Green for a beer, I wouldn’ t dream of going to any of these places by car. People ha ve gotten used to my eccentric behavior, but in the early days acquaintances would often pull up to the curb and ask if I wanted a ride. 4“ I’ m going your way,” they would insist when I politely declined. no bother.”
Unit7TheChaser课文翻译综合教程三
Unit 7 The Chaser John Henry Collier 1 Alan Austen, as nervous as a kitten, went up certain dark and creaky stairs in the neighborhood of Pell Street, and peered about for a long time on the dim hallway before he found the name he wanted written obscurely on one of the doors. 2 He pushed open this door, as he had been told to do, and found himself in a tiny room, which contained no furniture but a plain kitchen table, a rocking-chair, and an ordinary chair. On one of the dirty buff-coloured walls were a couple of shelves, containing in all perhaps a dozen bottles and jars. 3 An old man sat in the rocking-chair, reading a newspaper. Alan, without a word, handed him the card he had been given. “Sit down, Mr. Austen,” said the old man very politely. “I am glad to make your acquaintance.” 4 “Is it true,” asked Alan, “that you have a certain mixture that has … er … quite extraordinary effects?” 5 “My dear sir,” replied the old man, “my sto ck in trade is not very large — I don’t deal in laxatives and teething mixtures —but such as it is, it is varied. I think nothing I sell has effects which could be precisely described as ordinary.” 6 “Well, the fact is …” began Alan. 7 “Here, for example,” interrupted the old man, reaching for a bottle from the shelf. “Here is a liquid as colourless as water, almost tasteless, quite imperceptible in coffee, wine, or any other beverage. It is also quite imperceptible to any known method of autopsy.” 8 “Do you mean it is a poison?” cried Alan, very much horrified. 9 “Call it a glove-cleaner if you like,” said the old man indifferently. “Maybe it will clean gloves. I have never tried. One might call it a life-cleaner. Lives need cleaning sometimes.” 10 “I want nothing of that sort,” said Alan. 11 “Probably it is just as well,” said the old man. “Do you know the price of this? For one teaspoonful, which is sufficient, I ask five thousand dollars. Never less. Not a penny less.” 12 “I hope all your mixtures are not as expensive,” said Alan apprehensively.
(完整版)大学英语精读3课文(第三版)_中英文对照
课文翻译 Unit 1 Text A young man finds that strolling along the streets without an obvious purpose can lead to trouble with the law. One misunderstanding leads to another until eventually he must appear in court for trial…… 一个青年发现，在大街上毫无明显目的地游逛会招致警方的责罚。误会一个接一个发生，最终他只得出庭受审…… A Brush with the Law 与警察的一场小冲突 I have only once been in trouble with the law. 我平生只有一次跟警方发生纠葛。 The whole process of being arrested and taken to court was a rather unpleasant experience at the time, but it makes a good story now. 被捕和出庭的整个过程在当时是一件非常不愉快的事，但现在倒成了一篇很好的故事。 What makes it rather disturbing was the arbitrary circumstances both of my arrest and my subsequent fate in court. 这次经历令人可恼之处在于围绕着我的被捕以及随后庭上审讯而出现的种种武断专横的情况。It happened in February about twelve years ago. 事情发生在大约12年前，其时正是2月。 I had left school a couple of months before that and was not due to go to
最新Unit 1 A Class Act 课文翻译
Unit 1 1 A CLASS ACT 2 3 Florence Cartlidge 4 5 1. Growing up in bomb-blitzed Manchester during the Second World War 6 meant times were tough, money was short, anxiety was rife and the pawnshop was a familiar destination for many families, including mine. 7 8 9 2. Yet I could not have asked for more enterprising and optimistic 10 parents. They held our family together with hard work, dignity and 11 bucketloads of cheer. My sturdy and ingenious father could turn his hand 12 to almost anything and was never short of carpentry and handyman work. 13 He even participated in the odd bout of backstreet boxing to make ends 14 meet. For her part, our mum was thrifty and meticulously clean, and her 15 five children were always sent to school well fed, very clean, and attired 16 spotlessly, despite the hard conditions. 17 18 3. The trouble was, although my clothes were ironed to a knife-edge, 19 and shoes polished to a gleam, not every item was standard school uniform 20 issue. While Mum had scrimped and saved to obtain most of the gear, I 21 still didn’t have the pres cribed blue blazer and hatband. 22 23 4. Because of the war, rationing was in place and most schools had 24 relaxed their attitude towards proper uniforms, knowing how hard it was
Unit7TheChaser练习的答案解析综合教程三
Unit 7 The Chaser Key to the Exercises Text comprehension I. Decide which of the following is likely to happen after the story. C II. Judge, according to the text, whether the following statements are true or false. 1. F (Refer to Paragraph 5. The old man says that his stock in trade is not very large, but it is varied and has extraordinary effects.) 2. F (Refer to Paragraphs 11 and 1 3. The price of a glove-cleaner, as he calls it, is very high, five thousand dollars for a teaspoonful, but the love potion is very cheap.) 3. F (Refer to Paragraph 19. The old man claims that the effects of love potions are permanent.) 4. T (Refer to Paragraphs 24 and 28. Austen says that Diana is fond of parties and, although she is everything to him already, she does not care about his love at all. That is why he decides to go to the old man for the love potion and whenever the old man mentions the magic of his potion, he can't help "crying." From that, we can see the man loves the girl very much.) 5. F (The old man sells the love potions almost for nothing because by doing so his customers will come back for a much dearer commodity, the glove-cleaner, to help them out. It is the "death potion" that the old man makes most of his profits from, and intends to sell to his customers.) III. Answer the following questions. 1. What the old man means is that a young man who falls in love one-sidedly is seldom rich enough to win a girl's heart. His words imply that money is one of the crucial factors for love. If a man is not rich, he can rarely expect to be loved by a girl. 2. Refer to Paragraphs 19 to 37. The love potion has powerful, everlasting effects. To begin with, it may produce sexual desire in the person who takes it. And on the spiritual side, it can replace indifference with devotion and scorn with adoration. It will make a gay girl want nothing but solitude and her lover's company. She will feel jealous of him when her lover is with other girls; she will want to be everything to him. She will be only interested in her lover and take every concern of him. Even if he slips a bit, she will forgive him though terribly hurt. In a word, she will fall in love with him if she drinks the love potion. 3. Refer to Paragraphs 39 to 43. It is an irony, by which the author seems to imply that love is far from being precious or desirable. It is easy for a man to fall in love, yet it is hard
Unit 1 A Class Act课文翻译
Unit 1 A Class Act 1. 二战时，曼彻斯特饱受空袭之苦。成长在那里，意味着岁月艰难、钱财短缺、心情焦虑，也意味着许多家庭都是当铺的常客，包括我家。 2. 不过，我的父母最是乐观向上。他们用勤劳、自尊和满屋子的欢笑撑起了这个家。我父亲身体结实，心灵手巧，他那双手几乎无所不能，从不缺木匠和手工活儿。他甚至偶尔还会参加偏僻街道的拳击比赛，补贴家用。我母亲勤俭节约，把家收拾得干净利落。尽管条件艰苦，但她总能让自己的五个孩子吃得饱饱、穿得整整齐齐、干干净净地上学去。 3. 问题是：虽说我的衣服熨得有棱有角，皮鞋擦得铮亮铮亮的，可总有些地方不符合标准校服的要求。尽管母亲缩衣节食为我筹到了大部分装束，但我仍然没能凑齐学校指定的蓝色运动上衣和帽圈。 4. 由于战争影响，开始实施配给制度，大部分学校也放宽了对正规校服的要求，因为学校明白能有衣服穿已属不易。然而，我就读的女子学校却严格规定，每位学生必须穿正规的校服。于是那位负责每天集合的副校长就将训斥我视为她的任务来做。 5. 尽管我试图去解释我为何没能按规定着装，尽管我也正逐渐向全套校服靠近，我每天依然会被揪出队列，在台上罚站，作为对违反校服规定者的警戒。 6. 我每天站在同学面前，只能强忍泪水，不仅羞愧难耐，而且常常只有我一人挨罚。对我的惩罚还扩大到不能上体操课或者我钟爱的每周一次的交谊舞课。我多么希望在这所可怕的学校里，哪怕只有一位老师能睁开双眼看看我能够做什么，而不是不停地告诉我不能做什么啊！ 7. 不过，12岁的我在心里也毫无选择，只有眼睁睁地挨受惩罚。我明白不能让仁厚的母亲知道我所遭受的这种习惯性羞辱，这点非常重要。我也不敢冒险让她到学校替我求情，因为我知道那些心胸狭隘、不讲情面的教员们也同样会令她难堪，这意味着到时我们母女俩都要伤心、愤怒。老天！要是母亲再告诉父亲的话，他立马会大发雷霆，冲到学校来保护我。 8. 一天，我们全家在一家报纸举办的不收取费用的肖像模特摄影比赛中获了奖。我为此兴奋不已：那些好莱坞女星魅力四射的照片更令我想入非非。我迫不及待地想把这个激动人心的消息告诉朋友们。 9. 在那之前，母亲告诉我必须穿那件绿色蕾丝镶边裙——我最好的服装——去上学，因为摄影比赛正好安排在放学之后。她丝毫没有意识到我所要面临的痛苦。 10. 那天，我没有往常穿上这件心爱衣服时的喜悦。我心情郁闷地拖着沉重的步伐来到学校，发现自己成为了蓝色海洋中的一颗绿宝石。集合的时候，我没等人下命令就慢步走上台，去承受其他女生的窃笑和副校长那尖刻的眼神。 11. 当我第无数次想到，这位老师怎么会如此麻木不仁，竟然从未透过我的着装，看看这
综合英语3unit3out of step
Words and Expressions anew: Since Aaron's ex-girlfriend broke up with her boyfriend, he decides to pursue her anew. (ad. again/newly/afresh) calorie: Sherlock wants to gain weight by eating fast foods like Pala hamburger or high calorie drinks like soda. (-adj-- caloric) contortion: I had to admire the contortions of Phil, because he dances in front of the freshers almost everyday!(柔韧性，扭曲） Hermia and Lysander were together after a series of amazing contortions. (困难，周折） coo: She paused to coo at the baby" You are my little little apple"(cooer 鸽、鸠；COO也可作Chief Operating Officer，同CEO) debonair："Empress Daimengr" Camile always looks debonair as if she never had nothing to worry about.(也可作n.喜剧明星） dodge：I'm so depressed for I successfully dodged all the right answer in the last integrated course exam.(vt/vi.躲避、躲开） Those were the dodges he used to escape taxation.(n.托词、计策） eccentric: When I first heard Caroline's Chinese name"Ma Lu", I thought it was a little eccentric. But it turns out she isn't a eccentric, but a enthusiastic person.(adj.古怪的n.古怪的人.odd/weird) esthetical: Many girls even boys want to improve their physical appearance by esthetica l surgery.(n.esthete) exasperating: Though Candy find a Gemini man to be exasperating, Ann find him to be a real charmer.(v.exasperate n.exasperation ) Do not exasperate your team leader, he can humiliate you anywhere anytime! extravagant: Xie Tingfeng and Wang Fei spent over 100 hours extravagant time, which was the explosive news recently.(放纵的） He was extravagant in his admiration of Hellas.(过度的；奢侈的） habituate: You must habituate yourself to this police school life. Some experts said many things to habituate can be given up.(上瘾） ludicrous: When I was a fresher I thought it l udicrous that we can't use the quilt school gave us.(ridiculous/absurd/foolish) negotiate:I really want to negotiate with the team leader to refund our accommodation. The cilmber had to negotiate a steep rock face.(成功度过） pedestrian: Having been exposed by press, Yao Di was just a pedestrian A in Wen Zhang's life. The circumstances and events of his life were anything but pedestrian.(adj.平淡的）sedate: We continued our walk at a s edate pace.(平静的、不慌不忙的） She took them to visit her sedate, elderly cousins.(沉着的、不苟言笑的） Jessica was so excited in Jang Keun Suk(???)'s concert that we should sedate her to calm her down.(vt.给····服用镇静剂） triumph: It's a huge triumph that we finally escaped Chen Zhi's course. You have to triumph over your fear if you want to deliver a successful speech. unfurl: Unfurl a radiant banner旗帜鲜He unfurled the newspaper and began to read.(vt.展开）The government should unfurl the public expenses. (vt.公开） venerable: May Day has become a venerable institution.(庄严的） Our goddess Susan is so venerable that we all love her.（受尊敬的）