[单选题]19 What is the company’s return on shareholders’ equity?
正确答案 ：C
15/100 = 15%
[单选题]8 P and Q are in partnership, sharing profits in the ratio 2:1. On 1 July 2004 they admitted P’s son R as a partner. P
guaranteed that R’s profit share would not be less than $25,000 for the six months to 31 December 2004. The profitsharing
arrangements after R’s admission were P 50%, Q 30%, R 20%. The profit for the year ended 31 December
2004 is $240,000, accruing evenly over the year.
What should P’s final profit share be for the year ended 31 December 2004?
正确答案 ：B
$139,000
解析：80,000 + 60,000 – 1,000 = 139,000
[单选题]The following statements have been made about life cycle costing:
正确答案 ：G
(iii) only
解析：All of the statements are false except statement (iii).
[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]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]13 Which of the following correctly describes the imprest system for operating petty cash?
正确答案 ：D
The exact amount of expenditure out of petty cash is reimbursed at intervals.
[单选题]17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later
found that $18,000 paid for the purchase of a motor van had been debited to motor expenses account. It is the
company’s policy to depreciate motor vans at 25 per cent per year, with a full year’s charge in the year of acquisition.
What would the net profit be after adjusting for this error?
正确答案 ：C
$97,100
解析：83,600 + 18,000 – 4,500 = 97,100
[单选题]Mr Li, a photographer, had his photos published in the July 2014 edition of the tourism journal. The total fee was RMB20,000 and the publisher agreed to pay Mr Li by two instalments, one of RMB18,000 in June 2014 and the balance of RMB2,000 in August 2014. The same photos were republished by the government in a promotion brochure in August 2014 and Mr Li was paid a further fee of RMB3,000 by the government.
正确答案 ：D
RMB2,548
解析：20,000 x (1 – 20%) x 20% x 70% + (3,000 – 800) x 20% x 70% = RMB2,548
[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.
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