- 13 Which of the following correctly describes the imprest system for operating petty cash?A
All expenditure out of petty cash must be supported by a properly authorised voucher.
A regular equal amount
- Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.Which of the following accounting treatments correctly appl
- 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
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterfound that $18,000 paid for the purchase of a motor van had been debited to motor expense
- 15 Which of the following statements about intangible assets are correct?Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financ
- A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority wi
- Which of the following statements relating to internal and external auditors is correct?18 How should interest charged on partners’ drawings appear in partnership financial statements?Internal auditor
- A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid value added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority wi
- 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. P18 How should interest charged on partners’ drawings appear in partnership financi
- Which of the following statements relating to internal and external auditors is correct?C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective
- Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son
- 14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism jou
- 10 What would the company’s profit become after the correction of the above errors?13 Which of the following correctly describes the imprest system for operating petty cash?$634,760
$624,760
$624,440
- The following information is available for a manufacturing company which produces multiple products:19 What is the company’s return on shareholders’ equity?The following statements have been made abou
- 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
- A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The following possible reasons were stated for this:C Co uses material B, whi
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later19 What is the company’s return on shareholders’ equity?found that $18,000 paid for the p
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later18 Which of the following statements about accounting ratios and their interpretation are
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later25 What should the minority interest figure be in the group’s consolidated balance sheet
- 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
- 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
- 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
- Is the following statement true or false?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
- The following information is available for a manufacturing company which produces multiple products:18 Which of the following statements about accounting ratios and their interpretation are correct?A
- 13 Which of the following correctly describes the imprest system for operating petty cash?A company predicted that the learning rate for production of a new product would be 80%. The actual learning r
- 17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterA corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid v
- In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.Is the following statement true or false?C Co uses material B, which has a current market price of $0
- Is the following statement true or false?Which of the following statements relating to internal and external auditors is correct?10 What would the company’s profit become after the correction of the a
- 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
- 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
- 10 What would the company’s profit become after the correction of the above errors?In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.Is the following s
- 19 What is the company’s return on shareholders’ equity?10 What would the company’s profit become after the correction of the above errors?25 What should the minority interest figure be in the group’s
- 18 How should interest charged on partners’ drawings appear in partnership financial statements?18 Which of the following statements about accounting ratios and their interpretation are correct?17 A b
- 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
- 19 What is the company’s return on shareholders’ equity?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. PThe following statements h
- In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:1
- 10 What would the company’s profit become after the correction of the above errors?Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:19 At 30 June 200
- 24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority18 How should interest charged on partners’ drawings appear in partnership financial st
- 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
- Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.A corporate taxpayer has under-reported its taxable revenue
