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
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
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 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 laterHindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the follo
19 What is the company’s return on shareholders’ equity?A company predicted that the learning rate for production of a new product would be 80%. The actual learning rate was 75%. The following possibl
8 Which of the following statements about accounting concepts and conventions are correct?Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:10 Which o
18 How should interest charged on partners’ drawings appear in partnership financial statements?19 What is the company’s return on shareholders’ equity?The following statements have been made about li
10 What would the company’s profit become after the correction of the above errors?19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517
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
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 months earlier.10 What would the company’s profit b
11 Which of the following statements are correct?15 What journal entry is required to record goods taken from inventory by the owner of a business?Which of the following statements relating to interna
21 Which of the following items must be disclosed in a company’s published financial statements?16 Which of the following statements about accounting concepts and conventions are correct?18 Which of t
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:Which of the following st
