最近很多人都在咨询2021年商务英语考试的报名时间，目前还未发布报名通知，但是为了顺利通过考试，考生们应该尽早投入到学习中。为了帮助大家高效备考，今天帮考网就分享一下历年商务英语阅读真题及解析，一起来看看吧。

1 A cautious approach can be used when calculating what a company is worth.

2 Consider personnel issues so that you have sufficient resources to fulfill your objectives.

3 In order to know if you can make a return on your investment, assess how you can add to the company you are buying.

4 Providing sufficient support for staff during the acquisition process can have a favourable outcome.

5 Take into account your long-term requirements to ensure you have the resources you need.

6 Even after investing some effort in the acquisition, it may still be necessary to withdraw.

7 Terms initially negotiated can be changed after the acquisition.

Mergers and Acquisitions

As Finance Director of plastics manufacturer VKT, Yvonne Maynart has overseen many successful takeovers

A

It is essential to build up a team to handle the acquisition so that your existing business can continue uninterrupted during the deal. It also helps to operate with spare capacity so that you can transfer people during the initial stages. A key person should be driving the acquisition process forward, although one person alone cannot assume responsibility for a large deal. It is clearly vital to do thorough research when identifying potential targets - but do not be afraid to walk away from a deal if you become aware of serious difficulties with a company you are targeting.

B

To decide on the value of any target business, you must first determine what contribution your acquisition can make to it. For example, you may be able to increase revenue through a more focused management team, or improve margins through greater purchasing power and lower costs. At VKT, we base our valuations on conservative assumptions - we also add in the risk element. This approach may be best, and it\\\'s worth remembering that with listed companies, shareholders tend to have higher risk/reward expectations.

C

Developing relationships with finance providers is a key part of the finance director\\\'s role. It is important to draw up a good business plan to ensure backing from lenders in the early stages of the acquisition. Your loan application needs to be supported by detailed profit and cashflow projections. Make sure you factor in sufficient finance to let the business develop over time, and allow for reinvestment. Here at VKT, we usually finance acquisitions with bank debt in the form of a 364-day loan, which can then be refinanced at a lower interest rate later.

D

If an acquisition is large, it can take years for companies to integrate. At VICT, we monitor all acquisitions closely for at least two years, and the most important lesson I\\\'ve learned is that a deal is only good if it is beneficial for both vendor and acquirer. Change causes confusion, so it needs to be handled carefully. In order to protect profits and grow the business, you need to minimise the impact of change and help the people affected feel comfortable about it. When this is done properly, it can really boost morale.

第一题，当计算一个公司的价值时可以采用谨慎的方法。B段是和评估企业价值相关的内容，所以答案是原文的这一句：we base our valuations on conservative assumptions。我们的价值评估是建立在保守的假设基础之上的。

第二题，考虑人员问题(personnel issues)使得你有足够的资源来达成目标。A段是讲收购中的人员问题。It is essential to build up a team to handle the acquisition so that your existing business can continue uninterrupted during the deal. It also helps to operate with spare capacity so that you can transfer people during the initial stages。有必要建立一个团队来处理收购使得在交易期间现行的商业可以不间断的继续。它也帮助处理闲置生产能力于是你可以在初始阶段转移人员。

第三题，要想知道你能从投资上获得多少回报，评估你能给购买的公司增加什么。这一题答案是B段的第一句话：To decide on the value of any target business, you must first determine what contribution your acquisition can make to it.

第四题，在收购过程中对员工提供足够的支持可以产生良好的结果。这题答案是D段的后面几句：help the people affected feel comfortable about it. When this is done properly, it can really boost morale.帮助受影响的人感觉到舒服一些。当这些被妥善处理了，可以真正提升士气。

第五题，将长期的需要考虑在内以确保你得到所需要的资源。答案是C段的这一句：Make sure you factor in sufficient finance to let the business develop over time, and allow for reinvestment.确保你将企业长时间发展所需要的充足的资金也纳入在内，并且允许再投资。

第六题，即便是在对收购投入了大量的努力之后，也仍然可能有必要退出。答案是A段的最后一句：do not be afraid to walk away from a deal if you become aware of serious difficulties with a company you are targeting。如果你清楚了目标公司的严重困难，不要害怕从这桩交易上走开。

第七题，原本协商好的条款在收购后可以改变。答案是C段的最后一句：we usually finance acquisitions with bank debt in the form of a 364-day loan, which can then be refinanced at a lower interest rate later.我们通常使用364天银行贷款利率来提供贷款，日后的再贷款可以用一个更低的利率。

以上就是历年商务英语考试真题分享，希望对各位考生有所帮助。目前离举行考试还有充足的学习时间，大家一定做好学习计划，坚持每天看书做题，这样才能获得满意的成绩。