對(duì)于WRITING寫(xiě)作，USCPA考生們?cè)趯忣}是抓住關(guān)鍵詞，不要偏離題意即可。高頓網(wǎng)校USCPA小編搜集了一些試題，供廣大考生參考。
　　Keller Company needs funds to finance business expansion.The CFO, Mary Tyler, is considering how to finance the expansion.Specifically, Mary is considering either issuing common stock or preferred stock to finance the expansion. Compose a memorandum to Mary explaining the advantages and disadvantages of these two financing strategies.
　　REMINDER:Your response will be graded for both technical content and writing skills.Technical content will be *uated for information that is helpful to the intended reader and clearly relevant to the issue.Writing skills will be *uated for development, organization, and the appropriate * of ideas in professional correspondence.Use a standard business memo or letter format with a clear beginning, middle, and end.Do not convey information in the form of a table, bullet point list, or other abbreviated presentation.
　　To:Ms. Mary Tyler
　　Keller Company
　　From:CPA Candidate
　　解析：
　　I understand that the company is considering financing business expansion with either preferred or common stock.This memorandum describes the advantages and disadvantages of each of these methods.
　　Since common stockholders are the ultimate owners of the company, issuance of additional common stock dilutes ownership and control of the existing shareholders.Also issuance of too much common stock may increase the firm's overall cost of capital.
　　Preferred stock is a hybrid security. It is equity but generally carries a fixed dividend rate that must be paid before common shareholders receive dividends. An advantage of issuing preferred stock is that preferred shareholders do not generally participate in superior earnings of the firm.In addition, common shareholders do not give up control of the firm.
　　Feel free to contact me if you need any additional information about these alternative forms of financing.
　　Keywords: expansion, preferred, common, stock, dividend, shareholders, control, ownership, cost, capital