[单选题]18 How should interest charged on partners’ drawings appear in partnership financial statements?

正确答案 ：B

Added to net profit and charged to partners in the division of profit

[单选题]15 Which of the following statements about intangible assets are correct?

1 If certain criteria are met, research expenditure must be recognised as an intangible asset. 2 Goodwill may not be revalued upwards. 3 Internally generated goodwill should not be capitalised.

正确答案 ：A

2 and 3 only

[单选题]19 What is the company’s return on shareholders’ equity?

正确答案 ：C

15/100 = 15%

[单选题]25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?

正确答案 ：A

$240,000

解析：20% x (400,000 + 800,000)

[单选题]20 Which of the following events occurring after the balance sheet date are classified as adjusting, if material?

1 The sale of inventories valued at cost at the balance sheet date for a figure in excess of cost. 2 A valuation of land and buildings providing evidence of an impairment in value at the year end. 3 The issue of shares and loan notes. 4 The insolvency of a customer with a balance outstanding at the year end.

正确答案 ：B

2 and 4

[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

正确答案 ：D

All four items

[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.

正确答案 ：D

All four items

[单选题]16 Which of the following events between the balance sheet date and the date the financial statements are

authorised for issue must be adjusted in the financial statements? 1 Declaration of equity dividends. 2 Decline in market value of investments. 3 The announcement of changes in tax rates. 4 The announcement of a major restructuring.

正确答案 ：E

None of them

[单选题]Which of the following statements relating to internal and external auditors is correct?

正确答案 ：B

Internal auditors’ scope of work should be determined by those charged with governance

解析：

A is incorrect as internal auditors are not required to be members of any professional body. C is incorrect as external auditors report to shareholders rather than those charged with governance. D is incorrect as internal auditors can be independent of the company, if, for example, the internal audit function has been outsourced.

[单选题]23 The capital structure of a company at 30 June 2005 is as follows:

$m Ordinary share capital 100 Share premium account 40 Retained earnings 60 10% Loan notes 40 The company’s income statement for the year ended 30 June 2005 showed: $m Operating profit 44 Loan note interest (4) ___ Profit for year 40 ____ What is the company’s return on capital employed?

正确答案 ：C

44/240 = 181/3 per cent

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