题目

The following details have been extracted from the receivables collection records of C Co.

Invoices paid in the month after sale                 60%

Invoices paid in the second month after sale     25%

Invoices paid in the third month after sale         12%

Bad debts                                                           3%

Invoices are issued on the last day of each month.

Customers paying in the month after sale are entitled to deduct a 2% settlement discount. Credit sales values for June to September are budgeted as follows.

            June                 July                  August              September

           $35,000           $40,000             $60,000              $45,000

What is the amount budgeted to be received from credit sales in September?

A

$46,260

B

$49,480

C

$50,200

D

$50,530

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Chapter16Thebudgetaryprocess

                                                                                                      $

August sales                     $60,000 x 60% x 98%*                     35,280

July sales                          $40,000 x 25%                                  10,000

June sales                         $35,000 x 12%                                  4,200 

                                                                                                   49,480

*This reduction allows for the 2% settlement discount. 

If you selected option A you misinterpreted 'month after sale' to be the month the sale was made. The invoices are issued on the last day of each month, therefore cash receipts in respect of each month's sales will begin in the following month.

Option C makes no allowance for the settlement discount and option D includes the receipt of bad debts; those amounts will never be received cash.

多做几道

Which of the following statements about management accounting information is/are true?

(i) They must be stated in purely monetary terms.

(ii) Limited companies must, by law, prepare management accounts.

(iii) They serve as a future planning tool and are not used as an historical record.

A

(i), (ii) and (iii)

B

(i) and (ii)

C

(ii) only

D

None of the statements is true

Which of the following statements is/are correct?

(i) A management control system is a term used to describe the hardware and software used to drive a database system which produces information outputs that are easily assimilated by management.

(ii) An objective is a course of action that an organisation might pursue in order to achieve its strategy.

(iii) Information is data that has been processed into a form meaningful to the recipient.

A

(i), (ii) and (iii)

B

(i) and (iii)

C

(ii) and (iii)

D

(iii) only

Good information should have certain qualities. Which of the following are qualities of good information?(i) Complete(ii) Extensive(iii) Relevant(iv) Accurate

A

(i), (ii) and (iii)

B

(i), (iii) and (iv)

C

(ii) and (iv)

D

All of them

Monthly variance reports are an example of which one of the following types of management information?

A

Tactical

B

Strategic

C

Non-financial

D

Operational

Which of the following statements is/are correct?

(i) Information for decision-making should incorporate uncertainty in some way

(ii) The data used to prepare financial accounts and management accounts are the

A

(i) is true and (ii) is false

B

(ii) is true and (i) is false

C

Both are true

D

Both are false

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