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. PMr Li, a photographer, had his photos published in the July 2014 edition of the to
Which of the following statements relating to internal and external auditors is correct?A company predicted that the learning rate for production of a new product would be 80%. The actual learning rat
19 What is the company’s return on shareholders’ equity?The following statements have been made about life cycle costing:A company predicted that the learning rate for production of a new product woul
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
19 What is the company’s return on shareholders’ equity?The following statements have been made about life cycle costing:Faithful representation is a fundamental characteristic of useful information w
Is the following statement true or false?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 to
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
9 Which of the following items must be disclosed in a company’s published financial statements (including notes)17 A company sublets part of its office accommodation. In the year ended 30 June 2005 ca
25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?15 Which of the following statements about intangible assets are correct?Faithful represent
10 What would the company’s profit become after the correction of the above errors?A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was
10 What would the company’s profit become after the correction of the above errors?The following statements have been made about life cycle costing:Faithful representation is a fundamental characteris
24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minorityA corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid
