CIMA Fundamentals of Financial Accounting - BA3 模擬練習
Accounting standards are needed so that financial statements will fairly and consistently describe financial performance.
What are accounting standards an example of?
What are accounting standards an example of?
正解: C
Which TWO of the following are characteristics of financial accounts?
正解: B,C
The owner of a business takes goods from inventory for his own personal use Which of the following accounting concepts would be relevant to this transaction?
正解: A
Company P are looking to create a balance sheet. Which of the following should be included in this document?
正解: B,E
Your organization paid $120250 in net wages to its employees during the year.
Employees' tax and national insurance amounted to $32000 and employers national insurance was $11000.
Employees had contributed $6250 to a superannuation scheme.
The amount to be charged against profits for the year, in respect of wages is
Employees' tax and national insurance amounted to $32000 and employers national insurance was $11000.
Employees had contributed $6250 to a superannuation scheme.
The amount to be charged against profits for the year, in respect of wages is
正解:
$169506
Below are a list of entries from FG's accounts, from the most recent accounting period:
Petty Cash £150 DR
Returns Outwards £310 CR
Purchases £820 DR
Sales £250 CR
FG started the period with a bank balance of £405 DR. The total bank account at the end of period was £1,065 DR Which of the above items has been omitted from the bank account total?
Petty Cash £150 DR
Returns Outwards £310 CR
Purchases £820 DR
Sales £250 CR
FG started the period with a bank balance of £405 DR. The total bank account at the end of period was £1,065 DR Which of the above items has been omitted from the bank account total?
正解: C
Which THREE of the following would be shown in the statement of changes in equity?
正解: A,D,E
A company purchases a piece of machinery for $180,000. It is estimated that the machinery will produce
450,000 units over its useful life of 10 years. The residual value at the end of 10 years is nil. After eight years, the machine has produced 340,000 units and is sold for $30,000.
The profit/loss arising on disposal of the asset is
450,000 units over its useful life of 10 years. The residual value at the end of 10 years is nil. After eight years, the machine has produced 340,000 units and is sold for $30,000.
The profit/loss arising on disposal of the asset is
正解: A
The draft accounts of KenDoo Ltd for the year ended 31 August 2006 showed a net profit of $10000.
During the audit, the following errors and omissions were discovered.
(a) Items valued at $3100 had been completely omitted from the closing stock figure.
(b) Accrual of electricity bill for $200 and insurance prepayment of $500 had been omitted.
(c) Equipment costing $12000, acquired on 1 September 2005, had been debited to the purchases acccount.
(KenDoo Ltd depreciates equipment at 15% on the straight line basis).
Due to materiality, the directors of KenDoo Ltd agreed to adjust the accounts accordingly.
Incorporating the above adjustments, the revised net profit is
During the audit, the following errors and omissions were discovered.
(a) Items valued at $3100 had been completely omitted from the closing stock figure.
(b) Accrual of electricity bill for $200 and insurance prepayment of $500 had been omitted.
(c) Equipment costing $12000, acquired on 1 September 2005, had been debited to the purchases acccount.
(KenDoo Ltd depreciates equipment at 15% on the straight line basis).
Due to materiality, the directors of KenDoo Ltd agreed to adjust the accounts accordingly.
Incorporating the above adjustments, the revised net profit is
正解:
$23600
Which one of the following is an error of principle?
正解: C
A company has a debt/equity ratio of 50%. If the company's total equity is $750,000, what is the gearing ratio for the company?
正解: C
The external auditor seeks to provide an opinion on whether the accounts show a true and fair view What is the international term for 'true and fair view'?
正解: B