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Which of the following represent items of income for a business?
Which of the following represent items of income for a business?A . Discount received, revenue & carriage outwardsB . Revenue, bank interest & bad debtsC . Discount allowed, bank interest & revenueD . Revenue, discount received & bank interestView AnswerAnswer: D
What is the total of the sales day book for this week?
CORRECT TEXT GH has the following transactions for the week of January 20X8: GH is not registered for sales tax What is the total of the sales day book for this week? Give your answer to the nearest whole number: View AnswerAnswer: $1450
The method of accounting that attempts to recognize changing price levels by applying an industry or asset specific price index to the cost of goods sold and assets consumed is known as:
The method of accounting that attempts to recognize changing price levels by applying an industry or asset specific price index to the cost of goods sold and assets consumed is known as:A . Current cost accountingB . Current purchasing power accountingC . Historic cost accountingD . Replacement cost accountingView AnswerAnswer:...
Refer to the Exhibit.
Refer to the Exhibit. The following information is given at a manufacturer's year end: Using some or all of the above figures, the correct figure for factory cost of goods completed is:A . £115,700B . £125,700C . £131,700D . £135,300View AnswerAnswer: C
Which one of the following best describes the stewardship function?
Which one of the following best describes the stewardship function?A . Maximizing profitsB . Ensuring the recording, controlling and safeguarding of assetsC . Managing cashD . Carrying out an external auditView AnswerAnswer: B
The record of how the profit or loss of a company has been allocated to distributions and reserves is found in the:
The record of how the profit or loss of a company has been allocated to distributions and reserves is found in the:A . Reserves accountB . Appropriation accountC . Capital accountD . Retained profit accountView AnswerAnswer: B
Which of the following transactions would be classified as a capital transaction?
Which of the following transactions would be classified as a capital transaction?A . Depreciation on plant and machineryB . Expenditure on heat and lightC . Repayment of bank loanD . Payment of dividendsView AnswerAnswer: C
What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance?
CORRECT TEXT The balances of the trial balance of CDE for the year ended 31 May 20X4 is as follows What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $’000 View AnswerAnswer: $26280
Which of the following users will have this need for information?
Different users have different needs from financial information. One of which is to assess how effectively management is performing and how much profit will be available to be distributed. Which of the following users will have this need for information?A . ManagersB . SuppliersC . LendersD . ShareholdersView AnswerAnswer: D
What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance?
CORRECT TEXT The balances of the trial balance of CDE for the year ended 31 May 20X4 is as follows What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $’000 View AnswerAnswer: $26280
