Editing the Shareholder Letter

Tom and Kayla review the draft annual report for an interstate carrier in Denver.

Editing the Shareholder Letter

Listen and choose the right answer

What document are Tom and Kayla editing?

• The quarterly tax return
• The annual report shareholder letter
• The driver safety manual

What kind of outlook does Kayla advocate for?

• An aggressive and highly optimistic outlook
• A cautious and measured outlook
• A vague and unverified outlook

What critical error does Kayla discover?

• Earnings were calculated on the wrong fiscal year
• Fleet renewal costs were completely omitted
• Operating ratios were overstated by fifty percent

How does Tom react to Kayla's final discovery?

• He gets angry and dismisses her warning
• He ignores it and tells her to publish anyway
• He thanks her for saving them from a disaster

Listen again and complete the sentences

• Tom: Kayla, let's finalize the draft of our ____ before the board meeting in Boston.
• Kayla: I'm looking at the ____ right now, Tom, but we need to refine the wording.
• Tom: What seems wrong with it? I thought our ____ looked quite solid.
• Kayla: The revenue growth is fine, but our ____ needs to be presented with more candor.
• Kayla: I agree, but a measured outlook is far more prudent than projecting unrealistic ____ .

Sources: photo by Alena Darmel on Pexels