[单选题]14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.
Beta submitted a statement to Alpha as at the same date showing a balance due of $5,200.
Which of the following could account fully for the difference?
正确答案 ：D
Beta has issued a credit note for $500 to Alpha which Alpha has not yet received.
[单选题]18 Which of the following statements about accounting ratios and their interpretation are correct?
1 A low-geared company is more able to survive a downturn in profit than a highly-geared company.
2 If a company has a high price earnings ratio, this will often indicate that the market expects its profits to rise.
3 All companies should try to achieve a current ratio (current assets/current liabilities) of 2:1.
正确答案 ：C
1 and 2 only
[单选题]10 What would the company’s profit become after the correction of the above errors?
正确答案 ：D
$625,240
解析：630,000 – 4,320 – 440
[单选题]25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?
正确答案 ：A
$240,000
解析：20% x (400,000 + 800,000)
[单选题]13 Which of the following correctly describes the imprest system for operating petty cash?
正确答案 ：D
The exact amount of expenditure out of petty cash is reimbursed at intervals.
[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?
正确答案 ：B
$22,000
[单选题]In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.
正确答案 ：B
The estate income is not taxable
[单选题]The following information is available for a manufacturing company which produces multiple products:
正确答案 ：G
(i), (ii) and (iii) only
解析：The method of apportioning general fixed costs is not required to calculate the break-even sales revenue.
[单选题]19 What is the company’s return on shareholders’ equity?
正确答案 ：C
15/100 = 15%
[单选题]17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later
found that $18,000 paid for the purchase of a motor van had been debited to motor expenses account. It is the
company’s policy to depreciate motor vans at 25 per cent per year, with a full year’s charge in the year of acquisition.
What would the net profit be after adjusting for this error?
正确答案 ：C
$97,100
解析：83,600 + 18,000 – 4,500 = 97,100
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