BEC中的writing对于中国考生来说比较难拿满分，因为中国和美国的工作、生活环境不同。不过，抓住题干关键词，获得高分并不难。跟着高顿网校USCPA小编看看下面这个例题吧。
Dover, Inc. has been a profitable publicly-traded company for a number of years.The Board of Directors is considering establishing a dividend policy for the firm for the next few years.Compose a memorandum to Larry Goode, the chairman of the board, explaining the considerations involved in determining a dividend policy.
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:Mr. Larry Goode
Dover, Inc.
From:CPA Candidate
解析：
The dividend policy of a firm relates to management's propensity to distribute earnings to shareholders.The appropriate dividend policy depends on a number of factors including the life-cycle stage of the company, the financial position of the company, investment options available to the company, and tax considerations. To be in a position to pay dividends to shareholders, a company must reach a stage in its life-cycle at which it is no longer in need of significant additional financing.This usually occurs during the expansion stage or the maturity stage of a company's life-cycle, which are also when the financial position of the company typically allows the payment of dividends.
Even if the company has capacity to pay dividends, the cash generally should be retained if the company can earn a return that exceeds what the investor can earn on another investment with similar risk.Finally, consideration has to be given to the tax status of the shareholders of the company.Shareholders must pay income taxes on dividends, and wealthier shareholders pay higher taxes.Therefore, the tax situations of the shareholders may also affect the company's dividend policy.
As you can see determining a dividend policy is complicated that requires consideration of a number of factors.
Keywords: dividend, policy, shareholders, investment, options, tax, life-cycle, financing, dividends
