ACCA教材——Pilotpapers for F3 question;answer

1 Shoulddetails of material adjusting or material non-adjusting events afterthe balance sheet date be disclosed in the notes to financial statementsaccording to IAS 10 Events After the Balance Sheet Date?
A Adjusting events
B Non-Adjusting events
(1 mark)
2 At30 June 2005 a company’s allowance for receivables was $39,000. At 30June 2006 trade receivables totalled $517,000. It was decided to writeoff debts totalling $37,000 and to adjust the allowance for receivablesto the equivalent of 5 per cent of the trade receivables based on pastevents.
What figure should appear in the income statement for the year ended 30 June 2006 for these items?
A $61,000
B $22,000
C $24,000
D $23,850
(2 marks)
3In times of rising prices, what effect does the use of the historicalcost concept have on a company’s asset values and profit?
A Asset values and profit both understated
B Asset values and profit both overstated
C Asset values understated and profit overstated
D Asset values overstated and profit understated.
(2 marks)
4The IASB’s Framework for the preparation and presentation of financialstatements gives qualitative characteristics that make financialinformation reliable.
Which of the following are examples of those qualitative characteristics?
A Faithful Representation, neutrality and prudence
B Neutrality, comparability and true and fair view
C Prudence, comparability and accruals
D Neutrality, accruals and going concern
(2 marks)
5 The following bank reconciliation statement has been prepared by a trainee accountant:
                                                       $
Overdraft per bank statement          3,860
less: Outstanding cheques               9,160
                                                    5,300
add: Deposits credited after date     16,690
Cash at bank as calculated above     21,990
What should be the correct balance per the cash book?
A $21,990 balance at bank as stated
B $3,670 balance at bank
C $11,390 balance at bank
D $3,670 overdrawn.
(2 marks)
6 Which of the following calculates a trader’s net profit for a period?
A Closing net assets + drawings – capital introduced – opening net assets
B Closing net assets – drawings + capital introduced – opening net assets
C Closing net assets – drawings – capital introduced – opening net assets
D Closing net assets + drawings + capital introduced – opening net assets.
(2 marks)
7 A sole trader took some goods costing $800 from inventory for his own use. The normal selling price of the goods is $1,600.
Which of the following journal entries would correctly record this?
Dr Cr
                                          $            $
A Drawings account            800
Inventory account                             800
B Drawings account             800
Purchases account                             800
C Sales account                  1,600
Drawings account                             1,600
(1 mark)
8 The debit side of a company’s trial balance totals $800 more than the credit side.
Which one of the following errors would fully account for the difference?
A $400 paid for plant maintenance has been correctly entered in the cash book and credited to the plant asset account.
B Discount received $400 has been debited to discount allowed account
C A receipt of $800 for commission receivable has been omitted from the records
D The petty cash balance of $800 has been omitted from the trial balance.
(2 marks)
9 Acompany’s income statement for the year ended 31 December 2005 showed anet profit of $83,600. It was later found that $18,000 paid for thepurchase of a motor van had been debited to the motor expenses account.It is the company’s policy to depreciate motor vans at 25 per cent peryear on the straight line basis, with a full year’s charge in the yearof acquisition.
What would the net profit be after adjusting for this error?
A $106,100
B $70,100
C $97,100
D $101,600
(2 marks)
10 Should dividends paid appear on the face of a company’s income statement?
A Yes
B No
(1 mark)

如日中天:[内容隐藏] (2011-11-25 11:35) 

s123

     

做到什么呢？

thanks.......

打工的刚刚度过

好东西

   

 

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