[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]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]Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.

正确答案 ：E

Allocating part of the sales proceeds of a motor vehicle to interest received even though it was sold with 0% (interest free) finance

解析：

The substance is that there is no ‘free’ finance; its cost, as such, is built into the selling price.

查看原题 点击获取本科目所有试题