Đây là nội dung các câu hỏi kiến thức của WKT miền bắc hôm offline. Bạn nào chưa làm -> làm thử Bạn nào làm rồi -> kiểm tra kết quả. Mọi thắc mắc, hỏi đáp sẽ post nối tiếp theo vào thread này nhé. ketoan@ ENGLISH "VERSION" TINY TEST FOR OFFLINE WEBKETOAN 12-09-2004 (to be done in 20 minutes) 1 Beta purchased some plant and equipment on 1 July 2004 for $40,000. The estimated scrap value of the plant in ten years time is estimated to be $4,000. Beta’s policy is to charge depreciation on the straight line basis, with a proportionate charge in the period of acquisition. What should the depreciation charge for the plant be in Beta’s accounting period of twelve months to 30 September 2004? A $720 B $600 C $900 D $675 2 Theta prepares its financial statements for the year to 30 April each year. The company pays rent for its premises quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was $84,000 per year until 30 June 2003. It was increased from that date to $96,000 per year. What rent expense and end of year prepayment should be included in the financial statements for the year ended 30 April 2004? Expense Prepayment A $93,000 $8,000 B $93,000 $16,000 C $94,000 $8,000 D $94,000 $16,000 3 Which of the following four statements about accounting concepts or principles are correct? 1. The money measurement concept is that items in accounts are initially measured at their historical cost. 2. In order to achieve comparability it may sometimes be necessary to override the prudence concept. 3. To facilitate comparisons between different entities it is helpful if accounting policies and changes in them are disclosed. 4. To comply with the law, the legal form of a transaction must always be reflected in financial statements. A 1 and 3 B 1 and 4 C 3 only D 2 and 3 4 In relation to cash flow statements, which, if any, of the following are correct? 1. The direct method of calculating net cash from operating activities leads to a different figure from that produced by the indirect method, but this is balanced elsewhere in the cash flow statement. 2. A company making high profits must necessarily have a net cash inflow from operating activities. 3. Profits and losses on disposals of non-current assets appear as items under cash flows from investing activities in the cash flow statement or a note to it. A Item 1 only B Item 2 only C Item 3 only D None of the items. 5 A cash flow statement opens with the calculation of cash flowsfrom operating activities from the net profit before taxation. Which of the following lists of items consists only of items that would be ADDED to net profit before taxation in that calculation? A Decrease in inventories, depreciation, profit on sale of non-current assets. B Increase in trade payables, decrease in trade receivables, profit on sale of non-current assets. C Loss on sale of non-current assets, depreciation, increase in trade receivables. D Decrease in trade receivables, increase in trade payables, loss on sale of non-current assets. 6 Events after the Balance Sheet Date defines the extent to which events after the balance sheet date should be reflected in financial statements. Five such events are listed below. 1 Merger with another company. 2 Insolvency of a customer. 3 Destruction of a major non-current asset. 4 Sale of inventory held at the balance sheet date for less than cost. 5 Discovery of fraud. Which three of the listed items are, according to IAS 10, normally to be classified as adjusting? A 1, 2 and 3 B 2, 4 and 5 C 1, 2 and 5 D 1, 4 and 5 7 At 30 September 2002, Z Ltd had a provision for doubtful debts of $37,000. During the year ended 30 September 2003 the company wrote off debts totalling $18,000, and at the end of the year it is decided that the provision for doubtful debts should be $20,000. What should be included in the income statement for bad and doubtful debts? A $35,000 debit B $1,000 debit C $38,000 debit D $1,000 credit 8 Which of the following is NOT CORRECT? A Cost accounting can be used for stock valuation to meet the requirements of internal reporting only. B Management accounting provides appropriate information for decision-making, planning, control and performance evaluation. C Routine information can be used for both short-term and long run decisions. D Financial accounting information can be used for internal reporting purposes. 9 Which of the following relates to the cost of replacing (rather than retaining) labour due to high employee turnover? A Improving working conditions B Suffering the learning curve effect – (high trainning requirements) C Provision of a pension D Provision of welfare services. 10 Which of the following could be carried out by higher level management? (i) making short term decisions (ii) defining the objectives of the business (iii) making long run decisions A (i), (ii) and (iii) B (i) and (ii) only C (i) and (iii) only D (ii) and (iii) only. Answers 1 C 3/12 x 10% x $36,000 = $900 2 D Charge 2/12 x $84,000 + 10/12 x $96,000 = $94,000 Prepayment 2/12 x $96,000 = $16,000 3 C 4 D 1, 2 and 3 are all incorrect. 5 D 6 B 7 B $37,000 = $18,000 + $20,000 = $1,000 debit 8 A Cost accounting can be used for stock valuation to meet the requirements of both internal and external reporting. 9 B Working conditions, pension provisions and welfare are all costs relating to retaining, not replacing, labour. 10 A Higher level management could be involved with all level of decision making within a business.