Carol had receivables of USD598,600 at 30 November 2011. Her allowance for receivables at 1 December 2010 was USD12,460 and she wishes to change that to 2% of receivables at 30 November 2011. On 29 November 2011 she received USD635 in full settlement of a debt that she had written off in the year ended 30 November 2010.What total amount should be recognised for receivables in the income statement for the year ended 30 November 2011?

1 .Which of the following terms best describes the use of both financial and non-financial measures in assessing whether an organisation has achieved its objectives?

A Balanced scorecard B Benchmarking C Performance measurement D Target setting

题型: 单选题 提问时间: 2021-08-22

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2 .Joanna has prepared her draft accounts for the year ended 30 April 2012, and needs to adjust them for the following items:(1) Rent of USD10,500 was paid and recorded on 2 January 2011 for the period 1 January to 31 December 2011. The landlord has advised that the annual rent for 2012 will be USD12,000 although it has not been invoiced or paid yet.(2) Property and contents insurance is paid annually on 1 March. Joanna paid and recorded USD6,000 on 1 March 2012 for the year from 1 March 2012 to 28 February 2013.What should the net effect on profit be in the draft accounts for the year ended 30 April 2012 of adjusting for the above items?

A USD1,500 decrease B USD1,000 decrease C USD1,000 increase D USD1,500 increase

题型: 单选题 提问时间: 2021-08-22

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3 .An entity’s draft income statement for the year ended 30 June 2012 showed a profit of USD83,600. It was later found that USD18,000 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 year, with a full year’s charge in the year of acquisition.What should profit for the year be after adjusting for this error?

A USD70,100 B USD97,100 C USD101,600 D USD106,100

题型: 单选题 提问时间: 2021-08-22

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5 .Azure buys goods from Blue. At 30 June 2012 Blue’s account in Azure’s records showed USD7,700 owing to Blue. Blue submitted a statement to Azure as at the same date showing a balance due of USD7,100. Which of the following could account fully for the difference?

A Azure has sent a cheque to Blue for USD600 which has not yet been received by Blue. B The credit side of Blue’s account in Azure’s records has been undercast by USD600. C An invoice for USD300 from Blue has been treated in Azure’s records as if it had been a credit note. D Blue has issued a ...

题型: 单选题 提问时间: 2021-08-22

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6 .According to IAS 2 “Inventories”, which of the following costs should be included in valuing the inventories of a manufacturing company? (1)Carriage inwards(2)Carriage outwards(3)Depreciation of factory plant(4)General administrative overheads

A 1 and 3 only B 2 and 3 only C 1 and 4 only D 2 and 4 only

题型: 单选题 提问时间: 2021-08-22

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