单选题Faithful representation is a fundamental characteristic of useful information within the IASB’s Conceptual framework for financial reporting. Which of the following accounting treatments correctly applies the principle of faithful representation?

单选题Parket Co acquired 60% of Suket Co on 1 January 20X7

单选题The following scenario relates to questions 1620. Aphrodite Co has a year end of 31 December and operates a factory which makes computer chips for mobile phones. It purchased a machine on 1 July 20X3 for $80,000 which had a useful life of ten years and is depreciated on the straight-line basis, time apportioned in the years of acquisition and disposal. The machine was revalued to $81,000 on 1 July 20X4. There was no change to its useful life at that date. A fire at the factory on 1 October 20X6 damaged the machine leaving it with a lower operating capacity. The accountant considers that Aphrodite Co will need to recognise an impairment loss in relation to this damage. The accountant has ascertained the following information at 1 October 20X6: (1) The carrying amount of the machine is $60,750. (2) An equivalent new machine would cost $90,000. (3) The machine could be sold in its current condition for a gross amount of $45,000. Dismantling costs would amount to $2,000. (4) In its current condition, the machine could operate for three more years which gives it a value in use figure of $38,685.

单选题On 1 October 20X5, Anita Co purchased 75

单选题The following scenario relates to questions 2125. On 1 January 20X5, Blocks Co entered into new lease agreements as follows: Agreement oneThis finance lease relates to a new piece of machinery. The fair value of the machine is $220,000. The agreement requires Blocks Co to pay a deposit of $20,000 on 1 January 20X5 followed by five equal annual instalments of $55,000, starting on 31 December 20X5. The implicit rate of interest is 1165%. Agreement two​​​​​​​This three-year operating lease relates to a fleet of vans. The fair value of the vans is $120,000 and they have an estimated useful life of five years. The agreement requires Blocks Co to make no payment in year one and $48,000 in years two and three. Agreement three​​​​​​​This sale and leaseback relates to a cutting machine purchased by Blocks Co on 1 January 20X4 for $300,000. The carrying amount of the machine as at 31 December 20X4 was $250,000. On 1 January 20X5, it was sold to Cogs Co for $370,000 and Blocks Co will lease the machine back for five years, the remainder of its useful life, at $80,000 per annum.

单选题Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms: The selling price of the car was $25,300. Latterly paid $12,650 (half of the cost) on 1 April 2014 and would paythe remaining $12,650 on 31 March 2016 (two years after the sale). Hindberg’s cost of capital is 10% per annum. What is the total amount which Hindberg should credit to profit or loss in respect of this transaction in the yearended 31 March 2015?

单选题0 Patula Co acquired 80% of Sanka Co on 1 October 20X5

单选题Germane has a number of relationships with other companies. In which of the following relationships is Germane necessarily the parent company? (i)Foll has 50,000 non-voting and 100,000 voting equity shares in issue with each share receiving the samedividend. Germane owns all of Foll’s non-voting shares and 40,000 of its voting shares (ii)Kipp has 1 million equity shares in issue of which Germane owns 40%. Germane also owns $800,000 out of $1 million 8% convertible loan notes issued by Kipp. These loan notes may be converted on the basis of 40 equity shares for each $100 of loan note, or they may be redeemed in cash at the option of the holder (iii)Germane owns 49% of the equity shares in Polly and 52% of its non-redeemable preference shares. As a result of these investments, Germane receives variable returns from Polly and has the ability to affect these returnsthrough its power over Polly

单选题Wilmslow acquired 80% of the equity shares of Zeta on 1 April 2014 when Zeta’s retained earnings were $200,000. During the year ended 31 March 2015, Zeta purchased goods from Wilmslow totalling $320,000. At 31 March2015, one quarter of these goods were still in the inventory of Zeta. Wilmslow applies a mark-up on cost of 25% toall of its sales. At 31 March 2015, the retained earnings of Wilmslow and Zeta were $450,000 and $340,000 respectively. What would be the amount of retained earnings in Wilmslow’s consolidated statement of financial position as at31 March 2015?

单选题Which of the following current year events would explain a fall in a company’s operating profit margin compared to the previous year?

单选题Which of the following statements relating to intangible assets is true?

单选题Each of the following events occurred after the reporting date of 31 March 2015, but before the financial statementswere authorised for issue. Which would be treated as a NON-adjusting event under IAS 10 Events After the Reporting Period?

单选题ThefollowingtrialbalanceextractrelatestoapropertywhichisownedbyVeetonasat1April2014:WhatwillbethedepreciationchargeinVeeton’sstatementofprofitorlossfortheyearended31March2015?

案例分析题Gregory Co is a listed company and