1. [单选题]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 allowance for receivables to the equivalent of 5 per cent of the trade receivables based on past events.
What figure should appear in the income statement for these items?
A. $61,000
B. $22,000
C. $24,000
D. $23,850
2. [单选题]The following information is available for a manufacturing company which produces multiple products:
A. (i) The product mix ratio
B. (ii) Contribution to sales ratio for each product
C. (iii) General fixed costs
D. (iv) Method of apportioning general fixed costs
E. Which of the above are required in order to calculate the break-even sales revenue for the company?
F. All of the above
G. (i), (ii) and (iii) only
H. (i), (iii) and (iv) only
I. (ii) and (iii) only
3. [单选题]25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?
A. $240,000
B. $80,000
C. $180,000
D. $140,000
4. [单选题]13 Which of the following correctly describes the imprest system for operating petty cash?
A. A
B. All expenditure out of petty cash must be supported by a properly authorised voucher.
C. A regular equal amount of cash is transferred into petty cash.
D. The exact amount of expenditure out of petty cash is reimbursed at intervals.
E. A budget is fixed for a period which petty cash expenditure must not exceed.
5. [单选题]Which of the following statements relating to internal and external auditors is correct?
A. Internal auditors are required to be members of a professional body
B. Internal auditors’ scope of work should be determined by those charged with governance
C. External auditors report to those charged with governance
D. Internal auditors can never be independent of the company
