快速查题-ACCA英国注册会计师试题

Trade receivables and payables in the financial statements of a sales tax registered trader will appear as described by which

of the following?

Which of the following correctly describe the entry in the sales account for a sale for a sales tax registered trader?

Sales (including sales tax) amounted to $27,612.50, and purchases (excluding sales tax) amounted to $18,000.

What is the balance on the sales tax account, assuming all items are subject to sales tax at 17.5%?

You are given the following information：

Receivables at 1 January 20X3                                                     $10,000

Receivables at 31 December 20X3                                                $9,000

Total receipts during 20X3 (including cash sales of $5,000)          $85,000

What is the figure for sales on credit during 20X3?

A supplier sends you a statement showing a balance outstanding of $14,350. Your own records show a balance outstanding

of $14,500.

Which one of the following could be the reason for this difference?

Your payables control account has a balance at 1 October 20X8 of $34,500 credit. During October, credit purchases were

$78,400, cash purchases were $2,400 and payments made to suppliers, excluding cash purchases, and after deducting

settlement discounts of $1,200, were $68,900. Purchase returns were $4,700.

What was the closing balance?

A receivables ledger control account had a closing balance of $8,500. It contained a contra to the payables ledger of $400, but this had been entered on the wrong side of the control account.

What should be the correct balance on the control account?

According to IAS 38 Intangible assets, which of the following statements about intangible assets are correct?

1 If certain criteria are met, research expenditure must be recognised as an intangible asset.

2 If certain criteria are met, development expenditure must be capitalised

3 Intangible assets must be amortised if they have a definite useful life

According to IAS 38 Intangible assets, which of the following statements concerning the accountingtreatment of research and development expenditure are true?

1 If certain criteria are met, research expenditure may be recognised as an asset.

2 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as

incurred.

3 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether

there will be adequate finance available to complete the project.

4 Development expenditure recognised as an asset must be amortised over a period not exceeding five years.

5 The financial statements should disclose the total amount of research and development expenditure recognised as an

expense during the period.

According to IAS 38 Intangible assets, which of the following statements are correct?

1 Research expenditure should not be capitalised.

2 Intangible assets are never amortised.

3 Development expenditure must be capitalised if certain conditions are met.