The statement of profit or loss for PQ, ST and AB for the year ended 31 December 20X0 are shown below:
1. PQ acquired 80% of its subsidiary, ST, on 1 January 20X0 and 40% of its associate, AB, on 1 September
20X0.
2. Since acquistion PQ has sold goods to ST and AB for $20,000 and $30,000 respectively. At the year end both ST and AB have 50% of these goods remaining in inventory. PQ uses a mark-up of 20% on all of its sales.
3. Since acquisition the goodwill in respect of ST has been impaired by $8,000 and the investment in AB has been impaired by $2,000.
4. PQ uses the fair value method for non-controlling interest at acquisition.
What is the revenue figure to be included in PQ's consolidated statement of profit or loss for the year ended 31 December 20X0?
A. $480,000
B. $476,000
C. $440,000
D. $450,000
正解:A
質問 2:
The external auditors have completed their audit and have discovered a material but not pervasive error in the financial statements of JK.
The directors of JK have refused to change the financial statements.
What type of modified audit report should be issued?
A. Emphasis of matter opinion
B. Qualified opinion
C. Disclaimer of opinion
D. Adverse opinion
正解:B
質問 3:
Which of the following is NOT a source of short-term finance?
A. Debt factoring
B. Increase in a bank overdraft
C. Increase in trade payables
D. Increase in trade receivables
正解:D
質問 4:
In most developed countries employers deduct the tax from employees' pay each month and then pay the tax to the tax authorities on behalf of the employee on a monthly basis.
Which THREE of the following are advantages of this system to the employee?
A. The responsibility for the tax calculations rests with the employer and therefore there is less chance of mistakes being made.
B. The tax is collected earlier than systems that assess earnings at the end of the year.
C. There is less chance of interest and penalties being levied on the employee by the tax authorities.
D. Most of the administration costs are borne by the employees.
E. The payment of tax is easier as the tax is deducted before the net salary is paid to the employee.
正解:A,C,E
質問 5:
The tax rules in a country state that all tax returns must be filed by 31 March each year and that any outstanding tax balance must be paid by 14 April each year. An entity filed its tax return on 10 April 20X2 and paid the outstanding tax on 20 April 20X2.
Which TWO of the following powers is the tax authority likely to have in respect of these actions by the entity?
A. Charge interest for non-payment of the outstanding tax balance between 10 April 20X2 and 20 April
20X2.
B. Charge interest for non-payment of the outstanding tax balance between 31 March 20X2 and 20 April
20X2.
C. Seize the assets of the entity.
D. Charge interest for non-payment of the outstanding tax balance between 14 April 20X2 and 20 April
20X2.
E. Charge a fixed penalty for late submission of the tax return.
正解:D,E
質問 6:
正解:
Uchimura -
短時間で答え終わって、今日結果がてて本当に合格になった。地味にすごいね。Pass4Testさんまたお世話になりたいとおもいます。