[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]C Co uses material B, which has a current market price of $0·80 per kg. In a linear program, where the objective is to maximise profit, the shadow price of material B is $2 per kg. The following statements have been made:

正确答案 ：I

(i) and (iv)

解析：

Statement (ii) is wrong as it reflects the common misconception that the shadow price is the maximum price which should be paid, rather than the maximum extra over the current purchase price.

Statement (iii) is wrong but could be thought to be correct if (ii) was wrongly assumed to be correct.

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

正确答案 ：C

15/100 = 15%

[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]14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.

Beta submitted a statement to Alpha as at the same date showing a balance due of $5,200. Which of the following could account fully for the difference?

正确答案 ：D

Beta has issued a credit note for $500 to Alpha which Alpha has not yet received.

[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.

[单选题]10 What would the company’s profit become after the correction of the above errors?

正确答案 ：D

$625,240

解析：630,000 – 4,320 – 440

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