2017年商务英语BEC高级完形填空练习题及答案(1)

　　Use of Assets 资产的使用
　　When companies allow others to use their assets, such as trademarks, patents, copyrights, or expertise under contracts, also known as licensing agreements, they receive earnings called royalties.
　　当公司允许他人使用其资产，如商标，专利，版权，或根据合同的专业知识，也被称为许可协议，他们收取所谓的特许权使用费收入。
　　On an international level, for example, Lucasfilm has licensed The Lego Group from Denmark to use its trademarked Phantom Menace figures in Mindstorm construction toys. Royalties also come from franchise contracts.
　　在国际层面，例如，卢卡斯电影公司已经授权由丹麦乐高集团使用其注册商标的玩具
　　Phantom Menace。特许权使用费来自特许经营合同。
　　Franchising is a mode of business in which one party ( the franchisor ) allows another party ( the franchisee ) the use of a trademark that is an essential asset for the franchisee`s business. The franchisor also assists on a continuing basis in the operation of the business, such as by providing components, mangement services, and technology. 特许经营是一种商业模式，在其中一方(特许人)允许另一方(被特许人)商标的使用是一项重要资产，是成为加盟商的业务。特许人在业务继续运作的基础上还协 助有关业务操作，如提供组件，管理服务和技术。
　　Dividends and interest paid on foreign investments are also treated as service exports and imports because they represent the use of assets ( capital ). However, countries treat the investments themselves separately in the international economic statistics they report.红利和外国投资的利息也被当作服务出口和进口因为它们代表使用资产(资金)。然而,国家的投资分别对应本国在国际经济统计数字的报告。
　　INVESTMENTS投资
　　Foreign investment means ownership of foreign property in exchange for financial return, such as interest and dividends. Foreign investment takes two forms: direct and portfolio外国投资意味着拥有外国资产的所有权,以换取经济回报,如利息和红利。外商投资以两种形式:直接投资和有价证券。
　　Direct Investment 直接投资
　　A direct investment is one that gives the investor a controlling interest in a foreign company. Such a direct investment is also a foreign direct investment ( FDI ). Control need not be a 100-percent or even a 50-percent interest.
　　直接投资是指投资者拥有一家外国公司的控股权。这样的直接投资也是一种外国直接投资(FDI)。控制权不一定是百分之百，甚至是百分之五十的股份。
　　If a company holds a minority stake and the remaining ownership is widely dispersed, no other owner may be able to counter the company effectively. When two or more companies share ownership of an FDI, the operation is a joint venture. When a government joins a company in an FDI, the operation is called a mixed venture, which is a type of joint venture.
　　如果一个公司拥有少数股权,其余的所有权是分散的,没有任何其他的业主可以对公司有效控制。则两家以上的公司的股权的外国投资操作合资企业。当政府加入一个公司能够掌控外国直接投资,操作所说的混合风险,它是一种合资企业。
　　Companies may choose FDI as a mode to access certain resources or reach a market.
　　公司可以选择外国直接投资的一种模式用以接收特定资源或获得市场。
　　Today, about 60,000 companies worldwide have FDIs that encompass every type of business function – extracting raw materials from the earth, growing crops, manufacturing products or components, selling output, providing various services, and so on.
　　现今，全世界约60 000家公司拥有对外直接投资，它们的这些投资包括各种经营的业务，像从陆地采掘原料、种植庄稼、制造产品或零部件、销售产品及提供各种服务等。
　　FDI is not the domain of large companies only. For example, many small firms maintain sales offices abroad to complement their export efforts, which are FDI along with the real estate they own abroad. However because large companies tend to have larger foreign facilities and operate in more countries, the value of their FDI is higher.
　　外国直接投资不是只有大公司。例如，许多小公司保持销售办事处，在国外，以补充其出口的空间，这是伴随着他们自己的海外房地产的外国直接投资。但是，由于大公司往往有较大的外国设施和经营在更多的国家，其外国直接投资价值较高。
　　Porfolio Investment 有价证券投资
　　A portfolio investment is a noncontrolling interest in a company or ownership of a loan to another party. Usually a portfolio investment takes one of two forms: stock in a company or loans to a company or country in the form of bonds, or notes that the investor purchases.
　　一有价证券投资是一个公司贷款所有权转让给其他当事人控制性权益。通常有价证券投资有两种形式:一个公司的股票和借款或国家债券以票据形式向投资者出售。
　　Foreign portfolio investments are important for most companies that have extensive international operations. Companies use them primarily for short-term financial gain, that is, as a means for a company to earn more money on its money with relative safety. Company treasurers routinely move funds among countries to get higher yields on shortterm investments.
　　外国有价证券投资对大多数公司是重要的,这些公司有一般有广泛的国际业务。公司主要是利用他们从事短期经济利益,作为一种手段为公司去赚更多的相对安全的钱。公司的财务人员经常将资金通过在国家间短期投资得到更高的收益商务英语考试(BEC)