1. [单选题]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 with committing an act of tax evasion in 2002.
A. Which of the following statements is correct?
B. The taxpayer must pay the additional taxes due, plus a late payment surcharge and a penalty
C. There is no need for the taxpayer to pay any additional taxes, late payment surcharge or penalty as the statute of limitation is ten years
D. The taxpayer must pay the additional taxes, but no late payment surcharge or penalty as the statute of limitation is ten years for late payment surcharge and penalties
E. The taxpayer must pay the additional taxes and a late payment surcharge but not a penalty as the statute of limitation is five years for penalties
2. [单选题]17 Which of the following statements are correct?
(1) All non-current assets must be depreciated. (2) If goodwill is revalued, the revaluation surplus appears in the statement of changes in equity. (3) If a tangible non-current asset is revalued, all tangible assets of the same class should be revalued. (4) In a company’s published balance sheet, tangible assets and intangible assets must be shown separately.
A. 1 and 2
B. 2 and 3
C. 3 and 4
D. 1 and 4
3. [单选题]21 Which of the following statements about contingent assets and contingent liabilities are correct?
1 A contingent asset should be disclosed by note if an inflow of economic benefits is probable. 2 A contingent liability should be disclosed by note if it is probable that a transfer of economic benefits to settle it will be required, with no provision being made. 3 No disclosure is required for a contingent liability if it is not probable that a transfer of economic benefits to settle it will be required. 4 No disclosure is required for either a contingent liability or a contingent asset if the likelihood of a payment or receipt is remote.
A. 1 and 4 only
B. 2 and 3 only
C. 2, 3 and 4
D. 1, 2 and 4
4. [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
5. [单选题]9 Which of the following items must be disclosed in a company’s published financial statements (including notes)
if material, according to IAS1 Presentation of financial statements? 1 Finance costs. 2 Staff costs. 3 Depreciation and amortisation expense. 4 Movements on share capital.
A. 1 and 3 only
B. 1, 2 and 4 only
C. 2, 3 and 4 only
D. All four items
