The accounting concept which states that non-current assets should be valued at cost (or valuation) less accumulated depreciation, rather than their saleable value in the event of closure, is the.
A. Net realisable value concept
B. Realisation concept
C. Going concern concept
D. Prudence concept
正解:C
質問 2:
Which of the following represent liabilities of a business?
A. Accruals, bank overdraft & receivables
B. Loan stock(debentures), provisions & accruals
C. Share capital, provisions & discount received
D. Profit, discount allowed & payables
正解:B
質問 3:
Which one of the following statements is true?
A. Depreciation is an example of an accrued expense
B. Expenses accrued are deducted from the figure in the trial balance in arriving at the income statement charge for that item
C. Expenses accrued are current assets
D. Expenses accrued decrease the profit of an organization
正解:D
質問 4:
Refer to the Exhibit.
Your firm has the following manufacturing figures:
Closing work in progress is
正解:
$8699
質問 5:
The system of double entry book keeping relies upon accuracy of entries Which of the following combinations represent credit balances?
A. Accruals, payables, drawings & discount allowed
B. Property, plant & equipment, accruals, bank overdraft & discount received
C. Share premium, prepayments, payables & bad debts
D. Payables, accruals, share capital & loan stock(debentures)
正解:D
質問 6:
Refer to the Exhibit.
A company has the following information available for the month of June:
The opening receivables balance was $124,600.
The closing receivables balance at the end of June was
A. $116,000
B. $110,800
C. $122,400
D. $117,200
正解:A
質問 7:
Which of the following transactions would be classified as a revenue transaction?
A. Issue of share capital
B. Purchase of inventory for resale
C. Purchase of plant and machinery
D. Payments made to trade payables
正解:B
質問 8:
The profit earned by Subramanian in 2006 was £ 50,000. He injected new capital of £12,000 during the year and withdrew goods for his private use that cost £4,000.
If net assets at the beginning of 2006 were £10,000, what were the closing net assets?
正解:
£68010
Ueda -
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