Comprehension
Read the passages given below carefully and answer the question that follow:
PASSAGE
The Bush Administration may be unsure about Saddam Hussein, but it has already decided how to go after alleged evildoers in Big Business - with guns blazing. "If you're a CEO and you think you can fudge the books in order to make yourself look better, we're going to find you, we're going to arrest you and we're going to hold you to account, *President Bush sa id last week in Charleston, South Carolina
It didn't take long for the FBI to make good on that promise. A week after hauling in adelphia Communication's frail, white-haired founder, John Rigas, and two of his sons if they were armed and dangerous, FBI agents gave former WorldCom executives Scott Sullivan and David Myers the same star treatment, parading the handcuffed quarry in an early-morning prep walk and prompting Sullivan's lawyer to complain about "the unfair taint of the current political climate."
"We didn't have anything to do with it," a senior administration official says of the high-profile collars. "But of course they're a big help. It means the system is working, and that helps with [investor] confidence. "If so, that wasn't reflected in the stock market,which swooned on Thursday and Friday.
Arrests and indictments don't necessarily result in convictions- think back to the Wall Street scandals of the 1980s. But for now, with mid-term congressional elections looming and control of the House and Senate at issue, that's almost beside the point. Nor is the spectacle over. The House Energy and Commerce Committee in particular is contemplating more hearings later this year, with an invitation list that might include everyone from Global Crossing to Imclone, a committee source told TIME. And as Democratic opponents seize on the White House's cozy links to corporate America- and especially to Harken Energy and Halliburton - the Bust administration seems to believe that the best defense is a full-scale offensive.
Though by far the most visible, the World Com duo wasn't the only prey: telecom firm Qwest, already under investigation by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), is close to restating the past three years of earnings by more than $1 billion; apparel maker Warnaco is now in the SEC's cross hairs; and prosecutors were driving a hard bargain in plea negotiations with Imclone's ex-CEO Samuel Waksal, insisting that he accept at least seven years in prison on insider - trading charges and declining to spare his family members from prosecution.
PASSAGE
The Bush Administration may be unsure about Saddam Hussein, but it has already decided how to go after alleged evildoers in Big Business - with guns blazing. "If you're a CEO and you think you can fudge the books in order to make yourself look better, we're going to find you, we're going to arrest you and we're going to hold you to account, *President Bush sa id last week in Charleston, South Carolina
It didn't take long for the FBI to make good on that promise. A week after hauling in adelphia Communication's frail, white-haired founder, John Rigas, and two of his sons if they were armed and dangerous, FBI agents gave former WorldCom executives Scott Sullivan and David Myers the same star treatment, parading the handcuffed quarry in an early-morning prep walk and prompting Sullivan's lawyer to complain about "the unfair taint of the current political climate."
"We didn't have anything to do with it," a senior administration official says of the high-profile collars. "But of course they're a big help. It means the system is working, and that helps with [investor] confidence. "If so, that wasn't reflected in the stock market,which swooned on Thursday and Friday.
Arrests and indictments don't necessarily result in convictions- think back to the Wall Street scandals of the 1980s. But for now, with mid-term congressional elections looming and control of the House and Senate at issue, that's almost beside the point. Nor is the spectacle over. The House Energy and Commerce Committee in particular is contemplating more hearings later this year, with an invitation list that might include everyone from Global Crossing to Imclone, a committee source told TIME. And as Democratic opponents seize on the White House's cozy links to corporate America- and especially to Harken Energy and Halliburton - the Bust administration seems to believe that the best defense is a full-scale offensive.
Though by far the most visible, the World Com duo wasn't the only prey: telecom firm Qwest, already under investigation by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), is close to restating the past three years of earnings by more than $1 billion; apparel maker Warnaco is now in the SEC's cross hairs; and prosecutors were driving a hard bargain in plea negotiations with Imclone's ex-CEO Samuel Waksal, insisting that he accept at least seven years in prison on insider - trading charges and declining to spare his family members from prosecution.
Question: 1
According to the passage, the American government is going to
According to the passage, the American government is going to
Updated On: Jul 22, 2024
- make Saddam Hussain's future think about his uncertain future.
- make sure Saddam Hussain's future remains uncertain.
- follow the example of alleged evil doers everywhere
- punish corporate crime expeditiously and decisively.
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The Correct Option is D
Solution and Explanation
The correct option is (D): punish corporate crime expeditiously and decisively.
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Question: 2
President Bush has warned corrupt businessmen that his officials will
I.track down criminals
II. detain them
III. verify transactions
President Bush has warned corrupt businessmen that his officials will
I.track down criminals
II. detain them
III. verify transactions
I.track down criminals
II. detain them
III. verify transactions
Updated On: Jul 22, 2024
- I only
- III only
- I, II and III
- I and II only
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The Correct Option is C
Solution and Explanation
The correct option is (C): I, II and III
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Question: 3
Which of the following statements best conveys the overall idea of the passage?
Which of the following statements best conveys the overall idea of the passage?
Updated On: Jul 22, 2024
- Too many businessmen are being too hastily prosecute
- Like Saddam Hussain, Big Business is in trouble.
- Electronic accounting systems have proved their inadequacy.
- Western business ethics have never been exemplary.
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The Correct Option is B
Solution and Explanation
The correct option is (B): Like Saddam Hussain, Big Business is in trouble.
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Question: 4
The FBI has fulfilled the president's warning by doing all of the following except
The FBI has fulfilled the president's warning by doing all of the following except
Updated On: Jul 22, 2024
- hauling in of John Rigas and his two sons
- arrest of World Com executives.
- Public display of men in handcuffs.
- Confiscating their movable and immovable properties.
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The Correct Option is D
Solution and Explanation
The correct option is (D): Confiscating their movable and immovable properties
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Question: 5
The stock market swooned on Thursday and Friday despite
The stock market swooned on Thursday and Friday despite
Updated On: Jul 22, 2024
- senior officials having high profiles collars.
- Thursday and Friday being auspicious days.
- Claims that the system works in creating investor confidence
- Big help forthcoming from big business sources.
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The Correct Option is C
Solution and Explanation
The correct option is (C): Claims that the system works in creating investor confidence
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Question: 6
The wall street scandals of 1980s show that
The wall street scandals of 1980s show that
Updated On: Jul 22, 2024
- midterm congressional dictions delay arrests
- House and Senate members have immunity
- Getting conviction is the hardest part of prosecution
- Even spectacles can be incriminating evidence.
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The Correct Option is C
Solution and Explanation
The correct option is (C): Getting conviction is the hardest part of prosecution
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Question: 7
The passage states that the House Energy and Commerce Committee
The passage states that the House Energy and Commerce Committee
Updated On: Jul 22, 2024
- is preparing a list of invitations to a party
- plans postponements due to hearing problems
- has started investigating Global Crossing and In Clone
- regards TIME as a reliable source of information.
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The Correct Option is C
Solution and Explanation
The correct option is (C): has started investigating Global Crossing and In Clone
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Question: 8
In order to deal with the situation the present American government wants to
In order to deal with the situation the present American government wants to
Updated On: Jul 22, 2024
- offer copy hospitality in the White House
- seize Democratic Party members if they oppose
- hire Harken Energy and Hallibuton to placate them
- adopt an active rather than a passive form of law enforcement.
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The Correct Option is D
Solution and Explanation
The correct option is (D): adopt an active rather than a passive form of law enforcement
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Question: 9
More than a billion dollars as discrepancy in their accounts relates to
More than a billion dollars as discrepancy in their accounts relates to
Updated On: Jul 22, 2024
- World Com
- Quest
- Warnaco
- ImClone
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The Correct Option is A
Solution and Explanation
The correct option is (A): World Com
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Question: 10
In this passage, full-scale means
In this passage, full-scale means
Updated On: Jul 22, 2024
- the same size
- complete and thorough
- metric system
- imperial system
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The Correct Option is B
Solution and Explanation
The correct option is (B): complete and thorough
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