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10 What would the company’s profit become after the correction of the above errors?19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517
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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 wi
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10 What would the company’s profit become after the correction of the above errors?19 What is the company’s return on shareholders’ equity?$634,760
$624,760
$624,440
$625,240#15/40 = 37·5%
20/100 = 20
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14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid val
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Which of the following statements relating to internal and external auditors is correct?19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled
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In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.The following statements have been made about life cycle costing:19 At 30 June 2004 a company’s allow
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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. PC Co uses material B, which has a current market price of $0·80 per kg. In a linea
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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 state
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Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:The following statements have been made about life cycle costing:24 What figure should appear in the
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24 What figure should appear in the consolidated balance sheet of the J group as at 31 December 2004 for minority25 What should the minority interest figure be in the group’s consolidated balance shee
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The following statements have been made about life cycle costing:In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.Mr Li, a photographer, had his photo
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The following information is available for a manufacturing company which produces multiple products:19 What is the company’s return on shareholders’ equity?C Co uses material B, which has a current ma
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17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $
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In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months earlier.19 What is the company’s return on shareholders’ equity?A corporate taxpayer has under-reported its t
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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. PMr Li, a photographer, had his photos published in the July 2014 edition of the to
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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:14 Alpha buys goods from
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Is the following statement true or false?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 tax
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18 How should interest charged on partners’ drawings appear in partnership financial statements?17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It wa
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Is the following statement true or false?17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later8 P and Q are in partnership, sharing profits in
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Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:The following information is available for a manufacturing company which produces multiple products:
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Is the following statement true or false?Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting.
True#
FalseWhich
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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
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10 What would the company’s profit become after the correction of the above errors?19 At 30 June 2004 a company’s allowance for receivables was $39,000. At 30 June 2005 trade receivables totalled $517
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19 What is the company’s return on shareholders’ equity?25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?In 2014 Mr Yuan inherited an estate
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25 What should the minority interest figure be in the group’s consolidated balance sheet at 31 December 2005?The following statements have been made about life cycle costing:A corporate taxpayer has u
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19 What is the company’s return on shareholders’ equity?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
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Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:13 Which of the following correctly describes the imprest system for operating petty cash?15 Which o
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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 wi
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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 wi
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19 What is the company’s return on shareholders’ equity?18 Which of the following statements about accounting ratios and their interpretation are correct?Faithful representation is a fundamental chara
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14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.15 Which of the following statements about intangible assets are correct?The following info
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17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later25 What should the minority interest figure be in the group’s consolidated balance sheet
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The following statements have been made about life cycle costing: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. Pguaranteed that R
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17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was laterC Co uses material B, which has a current market price of $0·80 per kg. In a linear progr
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17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later18 Which of the following statements about accounting ratios and their interpretation are
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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. PFaithful representation is a fundamental characteristic of useful information with
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Which of the following statements relating to internal and external auditors is correct?Is the following statement true or false?Internal auditors are required to be members of a professional body
Int
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18 How should interest charged on partners’ drawings appear in partnership financial statements?10 What would the company’s profit become after the correction of the above errors?The following stateme
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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 allowan
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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 wi
