1. [单选题]15 What journal entry is required to record goods taken from inventory by the owner of a business?
A. Debit Drawings
B. Debit Sales
C. Debit Drawings
D. Debit Purchases
2. [单选题]21 Which of the following items must be disclosed in a company’s published financial statements?
1 Authorised share capital 2 Movements in reserves 3 Finance costs 4 Movements in non-current assets
A. 1, 2 and 3 only
B. 1, 2 and 4 only
C. 2, 3 and 4 only
D. All four items
3. [单选题]The following information is relevant for questions 9 and 10
A. company’s draft financial statements for 2005 showed a profit of $630,000. However, the trial balance did not agree,
B. All four items
C. 3 and 4 only
D. 2 and 3 only
E. 1, 2 and 4 only
4. [单选题]24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority
interest?
A. $32,000
B. $16,000
C. $10,000
D. $24,000
5. [单选题]5 An enterprise has made a material change to an accounting policy in preparing its current financial statements.
Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimates and errors in these financial statements? 1 The reasons for the change. 2 The amount of the consequent adjustment in the current period and in comparative information for prior periods. 3 An estimate of the effect of the change on future periods, where possible.
A. 1 and 2 only
B. 1 and 3 only
C. 2 and 3 only
D. All three items
