1. [单选题]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 in June 2014 and the balance of RMB2,000 in August 2014. The same photos were republished by the government in a promotion brochure in August 2014 and Mr Li was paid a further fee of RMB3,000 by the government.
A. What is the total amount of individual income tax (IIT) which Mr Li will pay on the above incomes?
B. RMB2,492
C. RMB2,576
D. RMB2,548
E. RMB3,680
2. [单选题]21 Which of the following items must be disclosed in a company’s published financial statements?
1 Authorised share capital 2 Movements in reserves 3 Finance costs 4 Movements in non-current assets
A. 1, 2 and 3 only
B. 1, 2 and 4 only
C. 2, 3 and 4 only
D. All four items
3. [单选题]17 A company sublets part of its office accommodation. In the year ended 30 June 2005 cash received from tenants
was $83,700. Details of rent in arrears and in advance at the beginning and end of the year were: In arrears In advance $ $ 30 June 2004 3,800 2,400 30 June 2005 4,700 3,000
A. $84,000
B. $83,400
C. $80,600
D. $85,800
4. [单选题]10 Which of the following costs should be included in valuing inventories of finished goods held by a manufacturing
company, according to IAS2 Inventories? 1 Carriage inwards. 2 Carriage outwards. 3 Depreciation of factory plant. 4 Accounts department costs relating to wages for production employees.
A. All four items
B. 2 and 3 only
C. 1, 3 and 4 only
D. 1 and 4 only
5. [单选题]15 What journal entry is required to record goods taken from inventory by the owner of a business?
A. Debit Drawings
B. Debit Sales
C. Debit Drawings
D. Debit Purchases
6. [单选题]Is the following statement true or false?
B. True
C. False
7. [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
8. [单选题]15 Which of the following statements about intangible assets are correct?
1 If certain criteria are met, research expenditure must be recognised as an intangible asset. 2 Goodwill may not be revalued upwards. 3 Internally generated goodwill should not be capitalised.
A. 2 and 3 only
B. 1 and 3 only
C. 1 and 2 only
D. All three statements are correct
9. [单选题]24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority
interest?
A. $32,000
B. $16,000
C. $10,000
D. $24,000
10. [单选题]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:
1 Bank charges of $200 have not been entered in the cash book. 2 Lodgements recorded on 30 June 2005 but credited by the bank on 2 July $14,700. 3 Cheque payments entered in cash book but not presented for payment at 30 June 2005 $27,800. 4 A cheque payment to a supplier of $4,200 charged to the account in June 2005 recorded in the cash book as a receipt. Based on this information, what was the cash book balance BEFORE any adjustments?
A. $43,100 overdrawn
B. $16,900 overdrawn
C. $60,300 overdrawn
D. $34,100 overdrawn
