- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterfound that $18,000 paid for the purchase of a motor van had been debited to motor expense
- Which of the following statements relating to internal and external auditors is correct?18 How should interest charged on partners’ drawings appear in partnership financial statements?Internal auditor
- 8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son R as a partner. P18 How should interest charged on partners’ drawings appear in partnership financi
- 10 What would the company’s profit become after the correction of the above errors?13 Which of the following correctly describes the imprest system for operating petty cash?$634,760
$624,760
$624,440
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later19 What is the company’s return on shareholders’ equity?found that $18,000 paid for the p
- Is the following statement true or false?18 Which of the following statements about accounting ratios and their interpretation are correct?1 A low-geared company is more able to survive a downturn in
- 13 Which of the following correctly describes the imprest system for operating petty cash?A company predicted that the learning rate for production of a new product would be 80%. The actual learning r
- Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
- C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective is to maximise profit, the shadow price of material B is $2 per kg. The following state
- Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.A corporate taxpayer has under-reported its taxable revenue
- Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
- A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The following possible reasons were stated for this:18 How should interest ch
- 8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son R as a partner. P14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records s
- 15 Which of the following statements about intangible assets are correct?Which of the following statements relating to internal and external auditors is correct?1 If certain criteria are met, research
- 18 How should interest charged on partners’ drawings appear in partnership financial statements?The following statements have been made about life cycle costing:As income in the income statement
Added
- Which of the following statements relating to internal and external auditors is correct?Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual frame
- 19 What is the company’s return on shareholders’ equity?The following information is available for a manufacturing company which produces multiple products:15/40 = 37·5%
20/100 = 20%
15/100 = 15%#
20/
- 19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517,000. It was decided to write off debts totalling $37,000 and to adjust the allowan
- 18 Which of the following statements about accounting ratios and their interpretation are correct?19 What is the company’s return on shareholders’ equity?1 A low-geared company is more able to survive
- Which of the following statements relating to internal and external auditors is correct?A company predicted that the learning rate for production of a new product would be 80%. The actual learning rat
- 15 Which of the following statements about intangible assets are correct?10 What would the company’s profit become after the correction of the above errors?1 If certain criteria are met, research expe
- Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000
- 13 Which of the following correctly describes the imprest system for operating petty cash?18 How should interest charged on partners’ drawings appear in partnership financial statements?A
All expendit
- 14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.Is the following statement true or false?Beta submitted a statement to Alpha as at the same
- 13 Which of the following correctly describes the imprest system for operating petty cash?10 What would the company’s profit become after the correction of the above errors?A
All expenditure out of pe
- A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority wi
- 8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son R as a partner. P13 Which of the following correctly describes the imprest system for operating pet
- 25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the followi
- In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son
- 13 Which of the following correctly describes the imprest system for operating petty cash?25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?A
- 18 Which of the following statements about accounting ratios and their interpretation are correct?18 How should interest charged on partners’ drawings appear in partnership financial statements?1 A lo
- 19 What is the company’s return on shareholders’ equity?19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517,000. It was decided to wri
- 18 Which of the following statements about accounting ratios and their interpretation are correct?Is the following statement true or false?1 A low-geared company is more able to survive a downturn in
- The following information is available for a manufacturing company which produces multiple products:8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son
- The following statements have been made about life cycle costing:13 Which of the following correctly describes the imprest system for operating petty cash?(i) It focuses on the short-term by identifyi
- C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective is to maximise profit, the shadow price of material B is $2 per kg. The following state
- 19 What is the company’s return on shareholders’ equity?Is the following statement true or false?15/40 = 37·5%
20/100 = 20%
15/100 = 15%#
20/150 = 13·3%
True#
FalseCWhere there is a significant change
- Which of the following statements relating to internal and external auditors is correct?Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee w
- 10 What would the company’s profit become after the correction of the above errors?C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective is t
- 18 Which of the following statements about accounting ratios and their interpretation are correct?The following information is available for a manufacturing company which produces multiple products:1
