[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.
正确答案 ：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
解析：Per Article 86 of the Tax Collection and Administrative Law, the statute of limitation for an administrative penalty on non-compliances is five years.
[单选题]The following information is available for a manufacturing company which produces multiple products:
正确答案 ：G
(i), (ii) and (iii) only
解析：The method of apportioning general fixed costs is not required to calculate the break-even sales revenue.
[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?
正确答案 ：D
$24,000
解析：20% x 120,000
[单选题]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 allowance for receivables to the equivalent of 5 per cent of the trade receivables based on past events.
What figure should appear in the income statement for these items?
正确答案 ：B
$22,000
[单选题]Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:
正确答案 ：F
$24,150
解析：At 31 March 2015, the deferred consideration of $12,650 would need to be discounted by 10% for one year to $11,500 (effectively deferring a finance cost of $1,150). The total amount credited to profit or loss would be $24,150 (12,650 + 11,500).
[单选题]In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.
正确答案 ：B
The estate income is not taxable
[单选题]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:
正确答案 ：G
(i) only
解析：The learning rate was actually better than expected and only (i) could cause it to improve.
[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]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]Is the following statement true or false?
正确答案 ：B
True
解析：Where there is a significant change in ownership of the company, ISA 210 Agreeing the Terms of Audit Engagements recommends that a new audit engagement letter is sent to avoid misunderstandings.
查看原题 点击获取本科目所有试题
