In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It
18 Which of the following statements about accounting ratios and their interpretation are correct?C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the
The following information is available for a manufacturing company which produces multiple products:15 Which of the following statements about intangible assets are correct?In 2014 Mr Yuan inherited a
13 Which of the following correctly describes the imprest system for operating petty cash?14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.B
Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.Mr Li, a photographer, had his photos published in the July
14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the followi
Which of the following statements relating to internal and external auditors is correct?14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.19
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
The following statements have been made about life cycle costing:18 How should interest charged on partners’ drawings appear in partnership financial statements?(i) It focuses on the short-term by ide
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
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:In 2014 Mr Yuan inherited
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
