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
10 What would the company’s profit become after the correction of the above errors?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.
Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.14 Alpha buys goods from Beta. At 30 June 2005 Beta’s accou
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
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
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
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
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. PMr Li, a photographer, had his photos published in the July 2014 edition of the to
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
19 What is the company’s return on shareholders’ equity?6 Ordan received a statement from one of its suppliers, Alta, showing a balance due of $3,980. The amount dueaccording to the payables ledger ac
13 Which of the following correctly describes the imprest system for operating petty cash?Which of the following statements relating to internal and external auditors is correct?19 At 30 June 2004 a c
14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid val
