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The following statements have been made about life cycle costing:Which of the following statements relating to internal and external auditors is correct?A corporate taxpayer has under-reported its tax
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The following statements have been made about life cycle costing:A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The followin
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10 What would the company’s profit become after the correction of the above errors?19 What is the company’s return on shareholders’ equity?Hindberg is a car retailer. On 1 April 2014, Hindberg sold a
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Which of the following statements relating to internal and external auditors is correct?Is the following statement true or false?25 What should the minority interest figure be in the group’s consolida
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14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.10 Which of the following costs should be included in valuing inventories of finished goods
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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
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22 Which of the following statements about limited liability companies’ accounting is/are correct?25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 Decembe
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17 A company sublets part of its office accommodation. In the year ended 30 June 2005 cash received from tenantsThe following information is available for a manufacturing company which produces multip
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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
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10 Which of the following costs should be included in valuing inventories of finished goods held by a manufacturing25 What should the minority interest figure be in the group’s consolidated balance sh
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21 Which of the following statements about contingent assets and contingent liabilities are correct?21 Which of the following items must be disclosed in a company’s published financial statements?2 Wh
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10 What would the company’s profit become after the correction of the above errors?10 Which of the following costs should be included in valuing inventories of finished goods held by a manufacturing15
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11 Which of the following statements are correct?15 What journal entry is required to record goods taken from inventory by the owner of a business?Which of the following statements relating to interna
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16 Which of the following statements about accounting concepts and conventions are correct?19 What is the company’s return on shareholders’ equity?Faithful representation is a fundamental characterist
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12 Which of the following statements are correct?17 A company sublets part of its office accommodation. In the year ended 30 June 2005 cash received from tenants13 At 1 January 2005 a company had an a
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20 Which of the following events occurring after the balance sheet date are classified as adjusting, if material?8 Which of the following statements about accounting concepts and conventions are corre
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Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.18 How should interest charged on partners’ drawings appear
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Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:The following information is relevant for questions 9 and 1017 A business income statement for the y
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19 What is the company’s return on shareholders’ equity?21 Which of the following items must be disclosed in a company’s published financial statements?16 Which of the following events between the bal
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Which of the following statements relating to internal and external auditors is correct?5 An enterprise has made a material change to an accounting policy in preparing its current financial statements
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19 What is the company’s return on shareholders’ equity?Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:8 P and Q are in partnership, sharing profit
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15 What journal entry is required to record goods taken from inventory by the owner of a business?Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The t
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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. P17 A business income statement for the year ended 31 December 2004 showed a net pr
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Is the following statement true or false?24 Sigma’s bank statement shows an overdrawn balance of $38,600 at 30 June 2005. A check against the company’s cash book revealed the following differences:18
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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
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17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterFaithful representation is a fundamental characteristic of useful information within the
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Is the following statement true or false?Which of the following statements relating to internal and external auditors is correct?2 Which of the following are correct?21 Which of the following items mu
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Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.15 What journal entry is required to record goods taken fro
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15 What journal entry is required to record goods taken from inventory by the owner of a business?21 Which of the following items must be disclosed in a company’s published financial statements?The fo
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5 An enterprise has made a material change to an accounting policy in preparing its current financial statements.17 A company sublets part of its office accommodation. In the year ended 30 June 2005 c
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14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.Under certain circumstances, profits made on transactions between members of a group need t
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16 Which of the following statements about accounting concepts and conventions are correct?10 What would the company’s profit become after the correction of the above errors?19 At 30 June 2004 a compa
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8 Which of the following statements about accounting concepts and conventions are correct?Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:10 Which o
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In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.12 Which of the following statements are correct?25 What should the minority interest figure be in th
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13 Which of the following correctly describes the imprest system for operating petty cash?24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minor
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17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterFaithful representation is a fundamental characteristic of useful information within the
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15 Which of the following statements about intangible assets are correct?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. PFaithful
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Is the following statement true or false?17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later18 Which of the following statements about accou
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21 Which of the following items must be disclosed in a company’s published financial statements?16 Which of the following statements about accounting concepts and conventions are correct?18 Which of t
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10 What would the company’s profit become after the correction of the above errors?15 What journal entry is required to record goods taken from inventory by the owner of a business?22 Which of the fol
