1. [单选题]12 Which of the following statements are correct?
(1) Contingent assets are included as assets in financial statements if it is probable that they will arise. (2) Contingent liabilities must be provided for in financial statements if it is probable that they will arise. (3) Details of all adjusting events after the balance sheet date must be given in notes to the financial statements. (4) Material non-adjusting events are disclosed by note in the financial statements.
A. 1 and 2
B. 2 and 4
C. 3 and 4
D. 1 and 3
2. [单选题]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 statements have been made:
A. (i) Contribution will be increased by $2 for each additional kg of material B purchased at the current market price
B. (ii) The maximum price which should be paid for an additional kg of material B is $2
C. (iii) Contribution will be increased by $1·20 for each additional kg of material B purchased at the current market price
D. (iv) The maximum price which should be paid for an additional kg of material B is $2·80
E. Which of the above statements is/are correct?
F. (ii) only
G. (ii) and (iii)
H. (i) only
I. (i) and (iv)
3. [单选题]11 The following information is available for Orset, a sole trader who does not keep full accounting records:
$ Inventory 1 July 2004 138,600 30 June 2005 149,100 Purchases for year ended 30 June 2005 716,100 Orset makes a standard gross profit of 30 per cent on sales. Based on these figures, what is Orset’s sales figure for the year ended 30 June 2005?
A. $2,352,000
B. $1,038,000
C. $917,280
D. $1,008,000
