1. [单选题]12 Which of the following statements are correct?
(1) Contingent assets are included as assets in financial statements if it is probable that they will arise. (2) Contingent liabilities must be provided for in financial statements if it is probable that they will arise. (3) Details of all adjusting events after the balance sheet date must be given in notes to the financial statements. (4) Material non-adjusting events are disclosed by note in the financial statements.
A. 1 and 2
B. 2 and 4
C. 3 and 4
D. 1 and 3
2. [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
3. [单选题]The following information is available for a manufacturing company which produces multiple products:
A. (i) The product mix ratio
B. (ii) Contribution to sales ratio for each product
C. (iii) General fixed costs
D. (iv) Method of apportioning general fixed costs
E. Which of the above are required in order to calculate the break-even sales revenue for the company?
F. All of the above
G. (i), (ii) and (iii) only
H. (i), (iii) and (iv) only
I. (ii) and (iii) only
