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What amount should be shown in GH's statement of profit or loss for the year ending 30 June 20X3?
CORRECT TEXT GH's tax liability at 30 June 20X3 in respect of the tax charge on the profits for the year ended 30 June 20X3 is $876,000. There was an over provision of $105,000 that related to the tax charge on the profits for the year ending 30 June 20X2....
What figure should be included within cash flows from investing activities for the proceeds of sale of plant and equipment?
The following information is extracted from the statement of financial position for ZZ at 31 March 20X3: Included within cost of sales in the statement of profit or loss for the year ended 31 March 20X3 is $20 million relating to the loss on the sale of plant and equipment...
Which of the following statements are advantages from the employees perspective of an entity using a PAYE system for collecting taxes from employees?
DEF is considering introducing a Pay-As-You-Earn (PAYE) system but unsure of the advantages of using it. Which of the following statements are advantages from the employees perspective of an entity using a PAYE system for collecting taxes from employees? Select ALL that apply.A . The employee will be able to...
In accordance with the Conceptual Framework which of the following is NOT part of faithful representation?
The International Accounting Standards Board's "The Conceptual Framework for Financial Reporting" (known as The Conceptual Framework) states that "faithful representation" is a fundamental qualitative characteristic. In accordance with the Conceptual Framework which of the following is NOT part of faithful representation?A . CompleteB . NeutralC . Free from errorD ....
Which of the following is a characteristic of a defined contribution post-employment benefit scheme?
Which of the following is a characteristic of a defined contribution post-employment benefit scheme?A . The amount of the post-employment benefits paid to former employees depends on how well the scheme's investments have performed.B . The employer would make additional contributions into the scheme if the actuary predicted a shortfall...
What is GH's average inventory days for the year ended 31 March 20X3?
The following data has been extracted from GH's accounting records: What is GH's average inventory days for the year ended 31 March 20X3?A . 39 daysB . 43 daysC . 25 daysD . 28 daysView AnswerAnswer: A
What is the value for closing inventory to be included in the financial statements of KL?
CORRECT TEXT KL has just completed their inventory count and has ascertained that the cost value of the inventory is $460,000; this was made up of 10,000 units of component part FF. A week before the year end the FF components were moved to a temporary warehouse. Two weeks later...
