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. P12 Which of the following statements are correct?Faithful representation is a fund
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:18 How should interest ch
24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minorityA company predicted that the learning rate for production of a new product would be 80%
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
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?Mr Li, a photographer, had his photos published in the July
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
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
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 Which of the following statements are correct?The following statements have been made about life cycle costing:In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two mo
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
19 What is the company’s return on shareholders’ equity?The following information is available for a manufacturing company which produces multiple products:Is the following statement true or false?15/
Is the following statement true or false?15 Which of the following statements about intangible assets are correct?14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showe
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
