{"id":22560,"date":"2021-04-19T02:26:03","date_gmt":"2021-04-19T02:26:03","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=22560"},"modified":"2021-04-19T02:26:07","modified_gmt":"2021-04-19T02:26:07","slug":"ba3-fundamentals-of-financial-accounting-2017-syllabus-cimapra17-ba3-1-eng-dumps","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/ba3-fundamentals-of-financial-accounting-2017-syllabus-cimapra17-ba3-1-eng-dumps.html","title":{"rendered":"BA3 &#8211; Fundamentals of Financial Accounting (2017 SYLLABUS) CIMAPRA17-BA3-1-ENG Dumps"},"content":{"rendered":"\n<p>Pass CIMAPRA17-BA3-1-ENG BA3 &#8211; Fundamentals of Financial Accounting (2017 SYLLABUS) certification exam with CIMAPRA17-BA3-1-ENG dumps now. We have the latest CIMAPRA17-BA3-1-ENG dumps with 393 practice exam questions and answers. Candidates can read all these CIMAPRA17-BA3-1-ENG dumps in pdf file and free software. All the Q&amp;As of CIMAPRA17-BA3-1-ENG exam have been verified, you can pass CIMAPRA17-BA3-1-ENG exam in the first attempt.<\/p>\n<h1>You can check <span style=\"color: #0000ff;\">CIMAPRA17-BA3-1-ENG free dumps<\/span> first<\/h1>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam5288\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-5288\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-5288\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-173881'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=307 height=463 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image002-19.jpg\" v:shapes=\"_x0000_i1025\"><br><br \/>\r<br>The following information relates to a business at its year end: <br \/>\r<br>The prime cost of goods manufactured during the year is:<\/div><input type='hidden' name='question_id[]' id='qID_1' value='173881' \/><input type='hidden' id='answerType173881' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173881[]' id='answer-id-702092' class='answer   answerof-173881 ' value='702092'   \/><label for='answer-id-702092' id='answer-label-702092' class=' answer'><span>&pound;5,550,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173881[]' id='answer-id-702093' class='answer   answerof-173881 ' value='702093'   \/><label for='answer-id-702093' id='answer-label-702093' class=' answer'><span>&pound;8,150,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173881[]' id='answer-id-702094' class='answer   answerof-173881 ' value='702094'   \/><label for='answer-id-702094' id='answer-label-702094' class=' answer'><span>&pound;8,350,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173881[]' id='answer-id-702095' class='answer   answerof-173881 ' value='702095'   \/><label for='answer-id-702095' id='answer-label-702095' class=' answer'><span>&pound;8,800,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-173882'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>The balance on LMN's cash account at 31 December 20X6 is $108,000 (debit) On performing the monthly bank reconciliation the following is discovered. <br \/>\r<br>&#8226; a payment of $2,000 made to a supplier has not yet appeared on the bank statement, <br \/>\r<br>&#8226; an automated receipt from a customer for $5,000 has not yet been recorded in the cash book, and <br \/>\r<br>&#8226; a pigment to a supplier of $1,500 was incorrectly recorded in the cash book as $1,050 <br \/>\r<br>The balance showing on the bank statement at 31 December 20X6 is<\/div><input type='hidden' name='question_id[]' id='qID_2' value='173882' \/><input type='hidden' id='answerType173882' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173882[]' id='answer-id-702096' class='answer   answerof-173882 ' value='702096'   \/><label for='answer-id-702096' id='answer-label-702096' class=' answer'><span>$111,450<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173882[]' id='answer-id-702097' class='answer   answerof-173882 ' value='702097'   \/><label for='answer-id-702097' id='answer-label-702097' class=' answer'><span>$101,450<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173882[]' id='answer-id-702098' class='answer   answerof-173882 ' value='702098'   \/><label for='answer-id-702098' id='answer-label-702098' class=' answer'><span>$114,550<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173882[]' id='answer-id-702099' class='answer   answerof-173882 ' value='702099'   \/><label for='answer-id-702099' id='answer-label-702099' class=' answer'><span>$104,550<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-173883'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=376 height=156 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image004-19.jpg\" v:shapes=\"_x0000_i1026\"><br><br \/>\r<br>On 1 May year 1 a company pays insurance of $1,800 for the period to 30 April year 2. <br \/>\r<br>What is the charge to the income statement and the entry in the statement of financial position for year 1 ended 30 November?<\/div><input type='hidden' name='question_id[]' id='qID_3' value='173883' \/><input type='hidden' id='answerType173883' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173883[]' id='answer-id-702100' class='answer   answerof-173883 ' value='702100'   \/><label for='answer-id-702100' id='answer-label-702100' class=' answer'><span>A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173883[]' id='answer-id-702101' class='answer   answerof-173883 ' value='702101'   \/><label for='answer-id-702101' id='answer-label-702101' class=' answer'><span>B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173883[]' id='answer-id-702102' class='answer   answerof-173883 ' value='702102'   \/><label for='answer-id-702102' id='answer-label-702102' class=' answer'><span>C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173883[]' id='answer-id-702103' class='answer   answerof-173883 ' value='702103'   \/><label for='answer-id-702103' id='answer-label-702103' class=' answer'><span>D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-173884'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Which one of the following statements best describes the usefulness of the income statement account of a company:<\/div><input type='hidden' name='question_id[]' id='qID_4' value='173884' \/><input type='hidden' id='answerType173884' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173884[]' id='answer-id-702104' class='answer   answerof-173884 ' value='702104'   \/><label for='answer-id-702104' id='answer-label-702104' class=' answer'><span>To evaluate its profitability over the past year<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173884[]' id='answer-id-702105' class='answer   answerof-173884 ' value='702105'   \/><label for='answer-id-702105' id='answer-label-702105' class=' answer'><span>To assess its potential profitability for the coming year<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173884[]' id='answer-id-702106' class='answer   answerof-173884 ' value='702106'   \/><label for='answer-id-702106' id='answer-label-702106' class=' answer'><span>To assess management performance over the past year<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173884[]' id='answer-id-702107' class='answer   answerof-173884 ' value='702107'   \/><label for='answer-id-702107' id='answer-label-702107' class=' answer'><span>To evaluate the return on capital employed<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-173885'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>A company that is VAT-registered has sales for the period of $245,000 (excluding VAT) and purchases for the period of $123,375 (including VAT). The opening balance on the VAT account was $18,000 credit. The VAT rate is 17.5%. <br \/>\r<br>What will be the closing balance on the VAT account at the end of the period?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='173885' \/><input type='hidden' id='answerType173885' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173885[]' id='answer-id-702108' class='answer   answerof-173885 ' value='702108'   \/><label for='answer-id-702108' id='answer-label-702108' class=' answer'><span>$6,500 debit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173885[]' id='answer-id-702109' class='answer   answerof-173885 ' value='702109'   \/><label for='answer-id-702109' id='answer-label-702109' class=' answer'><span>$42,500 credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173885[]' id='answer-id-702110' class='answer   answerof-173885 ' value='702110'   \/><label for='answer-id-702110' id='answer-label-702110' class=' answer'><span>$375 debit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173885[]' id='answer-id-702111' class='answer   answerof-173885 ' value='702111'   \/><label for='answer-id-702111' id='answer-label-702111' class=' answer'><span>$36,375 credit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-173886'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>A business has expanded rapidly during the current year. As a result the accounting records have been building up and the management accountant is having problems producing reports for each department head. <br \/>\r<br>Which of the following would be the best solution if introduced?<\/div><input type='hidden' name='question_id[]' id='qID_6' value='173886' \/><input type='hidden' id='answerType173886' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173886[]' id='answer-id-702112' class='answer   answerof-173886 ' value='702112'   \/><label for='answer-id-702112' id='answer-label-702112' class=' answer'><span>Extra working hours<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173886[]' id='answer-id-702113' class='answer   answerof-173886 ' value='702113'   \/><label for='answer-id-702113' id='answer-label-702113' class=' answer'><span>Accounting codes<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173886[]' id='answer-id-702114' class='answer   answerof-173886 ' value='702114'   \/><label for='answer-id-702114' id='answer-label-702114' class=' answer'><span>Prepare fewer reports<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173886[]' id='answer-id-702115' class='answer   answerof-173886 ' value='702115'   \/><label for='answer-id-702115' id='answer-label-702115' class=' answer'><span>Department head produce their own reports<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-173887'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>Which of the following is not a book of prime entry?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='173887' \/><input type='hidden' id='answerType173887' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173887[]' id='answer-id-702116' class='answer   answerof-173887 ' value='702116'   \/><label for='answer-id-702116' id='answer-label-702116' class=' answer'><span>Purchases daybook<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173887[]' id='answer-id-702117' class='answer   answerof-173887 ' value='702117'   \/><label for='answer-id-702117' id='answer-label-702117' class=' answer'><span>Cash book<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173887[]' id='answer-id-702118' class='answer   answerof-173887 ' value='702118'   \/><label for='answer-id-702118' id='answer-label-702118' class=' answer'><span>Sales ledger<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173887[]' id='answer-id-702119' class='answer   answerof-173887 ' value='702119'   \/><label for='answer-id-702119' id='answer-label-702119' class=' answer'><span>Journal<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-173888'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>At the end of the year, the non-current asset register showed assets with a net book value of &pound;170,300. The non-current asset accounts in the nominal ledger showed a net book value of &pound;150,300. <br \/>\r<br>The difference could be due to a disposed asset not having been removed from the non-current asset register, which had.<\/div><input type='hidden' name='question_id[]' id='qID_8' value='173888' \/><input type='hidden' id='answerType173888' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173888[]' id='answer-id-702120' class='answer   answerof-173888 ' value='702120'   \/><label for='answer-id-702120' id='answer-label-702120' class=' answer'><span>Disposal proceeds of &pound;25,000 and a profit on disposal of &pound;5,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173888[]' id='answer-id-702121' class='answer   answerof-173888 ' value='702121'   \/><label for='answer-id-702121' id='answer-label-702121' class=' answer'><span>Disposal proceeds of &pound;25,000 and a net book value of &pound;5,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173888[]' id='answer-id-702122' class='answer   answerof-173888 ' value='702122'   \/><label for='answer-id-702122' id='answer-label-702122' class=' answer'><span>Disposal proceeds of &pound;25,000 and a loss on disposal of &pound;5,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173888[]' id='answer-id-702123' class='answer   answerof-173888 ' value='702123'   \/><label for='answer-id-702123' id='answer-label-702123' class=' answer'><span>Disposal proceeds of &pound;10,000 and a net book value of &pound;10,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-173889'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Which of the following represent items of income for a business?<\/div><input type='hidden' name='question_id[]' id='qID_9' value='173889' \/><input type='hidden' id='answerType173889' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173889[]' id='answer-id-702124' class='answer   answerof-173889 ' value='702124'   \/><label for='answer-id-702124' id='answer-label-702124' class=' answer'><span>Discount received, revenue &amp; carriage outwards<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173889[]' id='answer-id-702125' class='answer   answerof-173889 ' value='702125'   \/><label for='answer-id-702125' id='answer-label-702125' class=' answer'><span>Revenue, bank interest &amp; bad debts<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173889[]' id='answer-id-702126' class='answer   answerof-173889 ' value='702126'   \/><label for='answer-id-702126' id='answer-label-702126' class=' answer'><span>Discount allowed, bank interest &amp; revenue<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173889[]' id='answer-id-702127' class='answer   answerof-173889 ' value='702127'   \/><label for='answer-id-702127' id='answer-label-702127' class=' answer'><span>Revenue, discount received &amp; bank interest<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-173890'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>CORRECT TEXT <br \/>\r<br>The balances of the trial balance of CDE for the year ended 31 May 20X4 is as follows <br \/>\r<br><br><img decoding=\"async\" width=351 height=177 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image006-19.jpg\" v:shapes=\"_x0000_i1027\"><br><br \/>\r<br>What must the balance on the share capital account be at 31 May 20X4 if the trial balance is to balance? Give your answer in $\u2019000 <br \/>\r<br><br><img decoding=\"async\" width=322 height=24 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image008-17.jpg\" v:shapes=\"_x0000_i1028\"><br><\/div><input type='hidden' name='question_id[]' id='qID_10' value='173890' \/><input type='hidden' id='answerType173890' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173890[]' id='textarea_q_173890' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-173891'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>5 times<\/div><input type='hidden' name='question_id[]' id='qID_11' value='173891' \/><input type='hidden' id='answerType173891' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173891[]' id='textarea_q_173891' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-173892'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>AB sold a machine for $15,000 The machine had originally cost $160,000 and al the dale of disposal had a carrying value of $26,000. <br \/>\r<br>The journal entry lo record this disposal is: <br \/>\r<br>A) <br \/>\r<br><br><img decoding=\"async\" width=486 height=62 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image012-14.jpg\" v:shapes=\"_x0000_i1030\"><br><br \/>\r<br>B) <br \/>\r<br><br><img decoding=\"async\" width=486 height=61 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image014-14.jpg\" v:shapes=\"_x0000_i1031\"><br><br \/>\r<br>C) <br \/>\r<br><br><img decoding=\"async\" width=486 height=32 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image016-14.jpg\" v:shapes=\"_x0000_i1032\"><br><br \/>\r<br>D) <br \/>\r<br><br><img decoding=\"async\" width=486 height=47 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image018-13.jpg\" v:shapes=\"_x0000_i1033\"><br><\/div><input type='hidden' name='question_id[]' id='qID_12' value='173892' \/><input type='hidden' id='answerType173892' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173892[]' id='answer-id-702130' class='answer   answerof-173892 ' value='702130'   \/><label for='answer-id-702130' id='answer-label-702130' class=' answer'><span>Option A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173892[]' id='answer-id-702131' class='answer   answerof-173892 ' value='702131'   \/><label for='answer-id-702131' id='answer-label-702131' class=' answer'><span>Option B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173892[]' id='answer-id-702132' class='answer   answerof-173892 ' value='702132'   \/><label for='answer-id-702132' id='answer-label-702132' class=' answer'><span>Option C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173892[]' id='answer-id-702133' class='answer   answerof-173892 ' value='702133'   \/><label for='answer-id-702133' id='answer-label-702133' class=' answer'><span>Option D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-173893'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Different users have different needs from financial information. One of which is to assess how effectively management is performing and how much profit will be available to be distributed. <br \/>\r<br>Which of the following users will have this need for information?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='173893' \/><input type='hidden' id='answerType173893' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173893[]' id='answer-id-702134' class='answer   answerof-173893 ' value='702134'   \/><label for='answer-id-702134' id='answer-label-702134' class=' answer'><span>Managers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173893[]' id='answer-id-702135' class='answer   answerof-173893 ' value='702135'   \/><label for='answer-id-702135' id='answer-label-702135' class=' answer'><span>Suppliers<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173893[]' id='answer-id-702136' class='answer   answerof-173893 ' value='702136'   \/><label for='answer-id-702136' id='answer-label-702136' class=' answer'><span>Lenders<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173893[]' id='answer-id-702137' class='answer   answerof-173893 ' value='702137'   \/><label for='answer-id-702137' id='answer-label-702137' class=' answer'><span>Shareholders<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-173894'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>CORRECT TEXT <br \/>\r<br>A company has profit before tax and dividends of &pound;500000. The share capital consists of 1000000 ordinary shares of &pound;1 each and 100000 10% preference shares of 50p each. <br \/>\r<br>A 10p dividend was declared on ordinary shares. <br \/>\r<br>Assuming there was no tax liability for the period, profit retained for the period was<\/div><input type='hidden' name='question_id[]' id='qID_14' value='173894' \/><input type='hidden' id='answerType173894' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173894[]' id='textarea_q_173894' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-173895'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>CORRECT TEXT <br \/>\r<br>BCD has the following balances for the year ended 31 December 20X8: <br \/>\r<br><br><img decoding=\"async\" width=365 height=106 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image020-12.jpg\" v:shapes=\"_x0000_i1034\"><br><br \/>\r<br>What is the trade payables balance of BCD at 31 December 20X8? Give your answer to the nearest $&quot;000. <br \/>\r<br><br><img decoding=\"async\" width=293 height=24 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image022-12.jpg\" v:shapes=\"_x0000_i1035\"><br><\/div><input type='hidden' name='question_id[]' id='qID_15' value='173895' \/><input type='hidden' id='answerType173895' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173895[]' id='textarea_q_173895' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-173896'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>CORRECT TEXT <br \/>\r<br>STU has an accounting period end of 31 December 20X8 During the year STU paid $4,800 for business insurance to cover the year to 30 June 20X9 The amount paid for business insurance for 30 June 20X8 was $4,500. <br \/>\r<br>What is the insurance expense to be recognized in the statement of profit or loss of STU for the year ended 31 December 20X8? Give your answer to the nearest $ <br \/>\r<br><br><img decoding=\"async\" width=294 height=24 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image024-12.jpg\" v:shapes=\"_x0000_i1036\"><br><\/div><input type='hidden' name='question_id[]' id='qID_16' value='173896' \/><input type='hidden' id='answerType173896' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173896[]' id='textarea_q_173896' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-173897'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>CORRECT TEXT <br \/>\r<br>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=375 height=173 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image026-12.jpg\" v:shapes=\"_x0000_i1037\"><br><br \/>\r<br>Your organization uses the Weighted Average Cost method of valuing inventory. <br \/>\r<br>During a particular month, the following inventory details were recorded: <br \/>\r<br>The value of the inventory at the end of the month was<\/div><input type='hidden' name='question_id[]' id='qID_17' value='173897' \/><input type='hidden' id='answerType173897' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173897[]' id='textarea_q_173897' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-173898'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>There are four separate but related bodies which control the setting of International accounting standards (IFRS\u2019s). <br \/>\r<br>Which THREE of the following are included in the standard setting process?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='173898' \/><input type='hidden' id='answerType173898' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173898[]' id='answer-id-702142' class='answer   answerof-173898 ' value='702142'   \/><label for='answer-id-702142' id='answer-label-702142' class=' answer'><span>International Accounting Standards Board (IASB)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173898[]' id='answer-id-702143' class='answer   answerof-173898 ' value='702143'   \/><label for='answer-id-702143' id='answer-label-702143' class=' answer'><span>Accounting Standards Board (ASB)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173898[]' id='answer-id-702144' class='answer   answerof-173898 ' value='702144'   \/><label for='answer-id-702144' id='answer-label-702144' class=' answer'><span>International Financial Reporting Interpretations Committee (IFRIC)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173898[]' id='answer-id-702145' class='answer   answerof-173898 ' value='702145'   \/><label for='answer-id-702145' id='answer-label-702145' class=' answer'><span>Chartered Institute of Management Accountants (CIMA)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173898[]' id='answer-id-702146' class='answer   answerof-173898 ' value='702146'   \/><label for='answer-id-702146' id='answer-label-702146' class=' answer'><span>Financial Accounting Standards Board (FASB)<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173898[]' id='answer-id-702147' class='answer   answerof-173898 ' value='702147'   \/><label for='answer-id-702147' id='answer-label-702147' class=' answer'><span>International Accounting Standards Committee Foundation (IASCF)<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-173899'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>A company is preparing its accounts to 30 November. The latest gas bill received by the company was dated 30 September and included usage charges for the quarter 1 June to 31 August of $5,700 and a service charge of $1,200 for the quarter 1 October to 31 December. It is estimated that the gas bill for the following quarter will be a similar amount. <br \/>\r<br>What will be the amount of the accrual shown in the accounts at 30 November 2006?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='173899' \/><input type='hidden' id='answerType173899' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173899[]' id='answer-id-702148' class='answer   answerof-173899 ' value='702148'   \/><label for='answer-id-702148' id='answer-label-702148' class=' answer'><span>$5,300<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173899[]' id='answer-id-702149' class='answer   answerof-173899 ' value='702149'   \/><label for='answer-id-702149' id='answer-label-702149' class=' answer'><span>$3,400<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173899[]' id='answer-id-702150' class='answer   answerof-173899 ' value='702150'   \/><label for='answer-id-702150' id='answer-label-702150' class=' answer'><span>$3,800<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173899[]' id='answer-id-702151' class='answer   answerof-173899 ' value='702151'   \/><label for='answer-id-702151' id='answer-label-702151' class=' answer'><span>$4,900<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-173900'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>In a manufacturing company, prime costs is the total of<\/div><input type='hidden' name='question_id[]' id='qID_20' value='173900' \/><input type='hidden' id='answerType173900' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173900[]' id='answer-id-702152' class='answer   answerof-173900 ' value='702152'   \/><label for='answer-id-702152' id='answer-label-702152' class=' answer'><span>Purchases of raw materials + opening inventories of raw materials - closing inventories of raw materials + direct wages + direct expenses + production overheads<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173900[]' id='answer-id-702153' class='answer   answerof-173900 ' value='702153'   \/><label for='answer-id-702153' id='answer-label-702153' class=' answer'><span>Purchases of raw materials + direct wages + direct expenses + production overheads<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173900[]' id='answer-id-702154' class='answer   answerof-173900 ' value='702154'   \/><label for='answer-id-702154' id='answer-label-702154' class=' answer'><span>Purchases of raw materials - opening inventories of raw materials + closing inventories \r\nof raw materials + direct wages + direct expenses<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173900[]' id='answer-id-702155' class='answer   answerof-173900 ' value='702155'   \/><label for='answer-id-702155' id='answer-label-702155' class=' answer'><span>Purchases of raw materials + opening inventories of raw materials - closing inventories of raw materials + direct wages + direct expenses<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-173901'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>On 31 December 20X6 GHI makes a bonus issue of 50,000 shares On this dale the nominal value of the shares is $1 and the market value is $3 GHI has a share premium account with a substantial credit balance. The share capital account is credited correctly in the nominal ledger. <br \/>\r<br>Which of the following statements is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='173901' \/><input type='hidden' id='answerType173901' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173901[]' id='answer-id-702156' class='answer   answerof-173901 ' value='702156'   \/><label for='answer-id-702156' id='answer-label-702156' class=' answer'><span>The bonus issue is valued at $3 per share and the debit entry is to the cash account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173901[]' id='answer-id-702157' class='answer   answerof-173901 ' value='702157'   \/><label for='answer-id-702157' id='answer-label-702157' class=' answer'><span>The bonus issue is valued at $1 per share and the debit entry is to the share premium account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173901[]' id='answer-id-702158' class='answer   answerof-173901 ' value='702158'   \/><label for='answer-id-702158' id='answer-label-702158' class=' answer'><span>The bonus issue is valued at $1 per share and the debit entry is to the cash account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173901[]' id='answer-id-702159' class='answer   answerof-173901 ' value='702159'   \/><label for='answer-id-702159' id='answer-label-702159' class=' answer'><span>The bonus issue is valued at $3 per share and the debit entry is to the share premium account<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-173902'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>Mr UY has just had property P re-valued. Mr UY originally purchased property P for &pound;560,000. It is now worth &pound;780,000. <br \/>\r<br>Which ONE of the following shows how this transaction should be recorded in Mr UY's property account?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='173902' \/><input type='hidden' id='answerType173902' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173902[]' id='answer-id-702160' class='answer   answerof-173902 ' value='702160'   \/><label for='answer-id-702160' id='answer-label-702160' class=' answer'><span>&pound;220,000 credit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173902[]' id='answer-id-702161' class='answer   answerof-173902 ' value='702161'   \/><label for='answer-id-702161' id='answer-label-702161' class=' answer'><span>&pound;220,000 debit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173902[]' id='answer-id-702162' class='answer   answerof-173902 ' value='702162'   \/><label for='answer-id-702162' id='answer-label-702162' class=' answer'><span>&pound;780,000 debit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173902[]' id='answer-id-702163' class='answer   answerof-173902 ' value='702163'   \/><label for='answer-id-702163' id='answer-label-702163' class=' answer'><span>&pound;780,000 credit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-173903'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>IAS 2 Inventories does not permit the use of the last in. first out (LIFO) method of valuing inventory In a time of rising prices, which of the following is a reason for this?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='173903' \/><input type='hidden' id='answerType173903' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173903[]' id='answer-id-702164' class='answer   answerof-173903 ' value='702164'   \/><label for='answer-id-702164' id='answer-label-702164' class=' answer'><span>Purchases are overstated<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173903[]' id='answer-id-702165' class='answer   answerof-173903 ' value='702165'   \/><label for='answer-id-702165' id='answer-label-702165' class=' answer'><span>Closing inventory is understated.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173903[]' id='answer-id-702166' class='answer   answerof-173903 ' value='702166'   \/><label for='answer-id-702166' id='answer-label-702166' class=' answer'><span>Cost of sales are understated<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173903[]' id='answer-id-702167' class='answer   answerof-173903 ' value='702167'   \/><label for='answer-id-702167' id='answer-label-702167' class=' answer'><span>Gross profit is overstated<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-173904'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>CORRECT TEXT <br \/>\r<br>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=261 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image028-12.jpg\" v:shapes=\"_x0000_i1038\"><br><br \/>\r<br>A company has the following transactions for an accounting period: <br \/>\r<br>Closing inventory at the end of the period was $3,200 and gross profit was $16,400. <br \/>\r<br>The opening inventory was therefore<\/div><input type='hidden' name='question_id[]' id='qID_24' value='173904' \/><input type='hidden' id='answerType173904' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173904[]' id='textarea_q_173904' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-173905'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Refer to the exhibit. <br \/>\r<br><br><img decoding=\"async\" width=554 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image030-13.jpg\" v:shapes=\"_x0000_i1039\"><br><br \/>\r<br>Both internal and external audits can be performed on the financial statements of a company. The results of the audits have different purposes and different reporting lines. <br \/>\r<br>Which of the following combinations is correct?<\/div><input type='hidden' name='question_id[]' id='qID_25' value='173905' \/><input type='hidden' id='answerType173905' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173905[]' id='answer-id-702169' class='answer   answerof-173905 ' value='702169'   \/><label for='answer-id-702169' id='answer-label-702169' class=' answer'><span>A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173905[]' id='answer-id-702170' class='answer   answerof-173905 ' value='702170'   \/><label for='answer-id-702170' id='answer-label-702170' class=' answer'><span>B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173905[]' id='answer-id-702171' class='answer   answerof-173905 ' value='702171'   \/><label for='answer-id-702171' id='answer-label-702171' class=' answer'><span>C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173905[]' id='answer-id-702172' class='answer   answerof-173905 ' value='702172'   \/><label for='answer-id-702172' id='answer-label-702172' class=' answer'><span>D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-173906'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=592 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image032-9.jpg\" v:shapes=\"_x0000_i1040\"><br><br \/>\r<br>A business banks its takings for the week. The bank account at the start of the week shows an overdraft <br \/>\r<br>Which of the following is the dual effect?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='173906' \/><input type='hidden' id='answerType173906' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173906[]' id='answer-id-702173' class='answer   answerof-173906 ' value='702173'   \/><label for='answer-id-702173' id='answer-label-702173' class=' answer'><span>A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173906[]' id='answer-id-702174' class='answer   answerof-173906 ' value='702174'   \/><label for='answer-id-702174' id='answer-label-702174' class=' answer'><span>B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173906[]' id='answer-id-702175' class='answer   answerof-173906 ' value='702175'   \/><label for='answer-id-702175' id='answer-label-702175' class=' answer'><span>C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173906[]' id='answer-id-702176' class='answer   answerof-173906 ' value='702176'   \/><label for='answer-id-702176' id='answer-label-702176' class=' answer'><span>D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-173907'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>\u201cTo assure shareholders that the stewardship of the organization was effectively carried out.\u201d <br \/>\r<br>What does this definition describe?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='173907' \/><input type='hidden' id='answerType173907' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173907[]' id='answer-id-702177' class='answer   answerof-173907 ' value='702177'   \/><label for='answer-id-702177' id='answer-label-702177' class=' answer'><span>Internal audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173907[]' id='answer-id-702178' class='answer   answerof-173907 ' value='702178'   \/><label for='answer-id-702178' id='answer-label-702178' class=' answer'><span>Preparation of financial statements<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173907[]' id='answer-id-702179' class='answer   answerof-173907 ' value='702179'   \/><label for='answer-id-702179' id='answer-label-702179' class=' answer'><span>External audit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173907[]' id='answer-id-702180' class='answer   answerof-173907 ' value='702180'   \/><label for='answer-id-702180' id='answer-label-702180' class=' answer'><span>Reconciliation process<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-173908'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=499 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image034-8.jpg\" v:shapes=\"_x0000_i1041\"><br><br \/>\r<br>Transactions are often categorized between capital and revenue <br \/>\r<br>Which of the following combinations are correct?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='173908' \/><input type='hidden' id='answerType173908' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173908[]' id='answer-id-702181' class='answer   answerof-173908 ' value='702181'   \/><label for='answer-id-702181' id='answer-label-702181' class=' answer'><span>A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173908[]' id='answer-id-702182' class='answer   answerof-173908 ' value='702182'   \/><label for='answer-id-702182' id='answer-label-702182' class=' answer'><span>B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173908[]' id='answer-id-702183' class='answer   answerof-173908 ' value='702183'   \/><label for='answer-id-702183' id='answer-label-702183' class=' answer'><span>C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173908[]' id='answer-id-702184' class='answer   answerof-173908 ' value='702184'   \/><label for='answer-id-702184' id='answer-label-702184' class=' answer'><span>D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-173909'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>The record of how the profit or loss of a company has been allocated to distributions and reserves is found in the:<\/div><input type='hidden' name='question_id[]' id='qID_29' value='173909' \/><input type='hidden' id='answerType173909' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173909[]' id='answer-id-702185' class='answer   answerof-173909 ' value='702185'   \/><label for='answer-id-702185' id='answer-label-702185' class=' answer'><span>Reserves account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173909[]' id='answer-id-702186' class='answer   answerof-173909 ' value='702186'   \/><label for='answer-id-702186' id='answer-label-702186' class=' answer'><span>Appropriation account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173909[]' id='answer-id-702187' class='answer   answerof-173909 ' value='702187'   \/><label for='answer-id-702187' id='answer-label-702187' class=' answer'><span>Capital account<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173909[]' id='answer-id-702188' class='answer   answerof-173909 ' value='702188'   \/><label for='answer-id-702188' id='answer-label-702188' class=' answer'><span>Retained profit account<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-173910'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Company X is a private limited oil company. <br \/>\r<br>Which of the following are relevant for Company X's integrated report?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='173910' \/><input type='hidden' id='answerType173910' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173910[]' id='answer-id-702189' class='answer   answerof-173910 ' value='702189'   \/><label for='answer-id-702189' id='answer-label-702189' class=' answer'><span>Risk of oil prices falling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173910[]' id='answer-id-702190' class='answer   answerof-173910 ' value='702190'   \/><label for='answer-id-702190' id='answer-label-702190' class=' answer'><span>Risk of share prices falling<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173910[]' id='answer-id-702191' class='answer   answerof-173910 ' value='702191'   \/><label for='answer-id-702191' id='answer-label-702191' class=' answer'><span>Risk posed by competing oil companies and sustainable energy sources<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173910[]' id='answer-id-702192' class='answer   answerof-173910 ' value='702192'   \/><label for='answer-id-702192' id='answer-label-702192' class=' answer'><span>Need for report to be concise<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-173911'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>CORRECT TEXT <br \/>\r<br>The draft accounts of KenDoo Ltd for the year ended 31 August 2006 showed a net profit of $10000. <br \/>\r<br>During the audit, the following errors and omissions were discovered. <br \/>\r<br>(a) Items valued at $3100 had been completely omitted from the closing stock figure. <br \/>\r<br>(b) Accrual of electricity bill for $200 and insurance prepayment of $500 had been omitted. <br \/>\r<br>(c) Equipment costing $12000, acquired on 1 September 2005, had been debited to the purchases acccount. (KenDoo Ltd depreciates equipment at 15% on the straight line basis). <br \/>\r<br>Due to materiality, the directors of KenDoo Ltd agreed to adjust the accounts accordingly. <br \/>\r<br>Incorporating the above adjustments, the revised net profit is<\/div><input type='hidden' name='question_id[]' id='qID_31' value='173911' \/><input type='hidden' id='answerType173911' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173911[]' id='textarea_q_173911' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-173912'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>CORRECT TEXT <br \/>\r<br>ABC has the following summary of transactions for the quarter ended 30 June 20X9 ABC is registered for sales tax at 20%. <br \/>\r<br><br><img decoding=\"async\" width=302 height=46 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image036-8.jpg\" v:shapes=\"_x0000_i1042\"><br><br \/>\r<br>At the beginning of the quarter ABC owed $2,300 to the local tax authority. <br \/>\r<br>What is the balance owing to the local tax authority at 30 June 20X97 Give your answer to the nearest dollar. <br \/>\r<br><br><img decoding=\"async\" width=293 height=24 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image038-9.jpg\" v:shapes=\"_x0000_i1043\"><br><\/div><input type='hidden' name='question_id[]' id='qID_32' value='173912' \/><input type='hidden' id='answerType173912' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173912[]' id='textarea_q_173912' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-173913'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>CORRECT TEXT <br \/>\r<br>Refer to the exhibit. <br \/>\r<br><br><img decoding=\"async\" width=566 height=207 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image040-9.jpg\" v:shapes=\"_x0000_i1044\"><br><br \/>\r<br>The following is an extract from the trial balance of a business for its most recent year: <br \/>\r<br>Net profit before tax has already been calculated as being &pound;27m. Income tax of &pound;5m is to be provided, and a final dividend of 30p per share is declared. <br \/>\r<br>Using some or all of the figures above, the correct figure of retained profit for the year is<\/div><input type='hidden' name='question_id[]' id='qID_33' value='173913' \/><input type='hidden' id='answerType173913' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173913[]' id='textarea_q_173913' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-173914'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>Refer to the exhibit. <br \/>\r<br><br><img decoding=\"async\" width=295 height=280 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image042-8.jpg\" v:shapes=\"_x0000_i1045\"><br><br \/>\r<br>A company has the following current assets and liabilities at its most recent year end: <br \/>\r<br>When measured against standard acceptable levels for liquidity, the company can be said to have:<\/div><input type='hidden' name='question_id[]' id='qID_34' value='173914' \/><input type='hidden' id='answerType173914' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173914[]' id='answer-id-702196' class='answer   answerof-173914 ' value='702196'   \/><label for='answer-id-702196' id='answer-label-702196' class=' answer'><span>An ideal acid test ratio, but a high current ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173914[]' id='answer-id-702197' class='answer   answerof-173914 ' value='702197'   \/><label for='answer-id-702197' id='answer-label-702197' class=' answer'><span>An ideal current ratio, but a low acid test ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173914[]' id='answer-id-702198' class='answer   answerof-173914 ' value='702198'   \/><label for='answer-id-702198' id='answer-label-702198' class=' answer'><span>A high current ratio and a low acid test ratio<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173914[]' id='answer-id-702199' class='answer   answerof-173914 ' value='702199'   \/><label for='answer-id-702199' id='answer-label-702199' class=' answer'><span>Ideal current and acid test ratios<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-173915'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>The Framework is described as a conceptual framework when used in the creation of new accounting standards. <br \/>\r<br>Which ONE of the following describes the approach of the Framework?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='173915' \/><input type='hidden' id='answerType173915' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173915[]' id='answer-id-702200' class='answer   answerof-173915 ' value='702200'   \/><label for='answer-id-702200' id='answer-label-702200' class=' answer'><span>Rules based<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173915[]' id='answer-id-702201' class='answer   answerof-173915 ' value='702201'   \/><label for='answer-id-702201' id='answer-label-702201' class=' answer'><span>Principles based<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173915[]' id='answer-id-702202' class='answer   answerof-173915 ' value='702202'   \/><label for='answer-id-702202' id='answer-label-702202' class=' answer'><span>Statutory<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173915[]' id='answer-id-702203' class='answer   answerof-173915 ' value='702203'   \/><label for='answer-id-702203' id='answer-label-702203' class=' answer'><span>Regulatory<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-173916'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>CORRECT TEXT <br \/>\r<br>GH has the following transactions for the week of January 20X8: <br \/>\r<br><br><img decoding=\"async\" width=379 height=133 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image044-8.jpg\" v:shapes=\"_x0000_i1046\"><br><br \/>\r<br>GH is not registered for sales tax <br \/>\r<br>What is the total of the sales day book for this week? Give your answer to the nearest whole number: <br \/>\r<br><br><img decoding=\"async\" width=294 height=24 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image046-8.jpg\" v:shapes=\"_x0000_i1047\"><br><\/div><input type='hidden' name='question_id[]' id='qID_36' value='173916' \/><input type='hidden' id='answerType173916' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173916[]' id='textarea_q_173916' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-173917'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Which one of the following best describes the stewardship function?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='173917' \/><input type='hidden' id='answerType173917' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173917[]' id='answer-id-702205' class='answer   answerof-173917 ' value='702205'   \/><label for='answer-id-702205' id='answer-label-702205' class=' answer'><span>Maximizing profits<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173917[]' id='answer-id-702206' class='answer   answerof-173917 ' value='702206'   \/><label for='answer-id-702206' id='answer-label-702206' class=' answer'><span>Ensuring the recording, controlling and safeguarding of assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173917[]' id='answer-id-702207' class='answer   answerof-173917 ' value='702207'   \/><label for='answer-id-702207' id='answer-label-702207' class=' answer'><span>Managing cash<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173917[]' id='answer-id-702208' class='answer   answerof-173917 ' value='702208'   \/><label for='answer-id-702208' id='answer-label-702208' class=' answer'><span>Carrying out an external audit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-173918'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>An audit trail is an essential part of an efficient, complete accounting system <br \/>\r<br>Why is an audit trail important?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='173918' \/><input type='hidden' id='answerType173918' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173918[]' id='answer-id-702209' class='answer   answerof-173918 ' value='702209'   \/><label for='answer-id-702209' id='answer-label-702209' class=' answer'><span>To ensure all transactions are recorded<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173918[]' id='answer-id-702210' class='answer   answerof-173918 ' value='702210'   \/><label for='answer-id-702210' id='answer-label-702210' class=' answer'><span>To ensure all transactions are approved<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173918[]' id='answer-id-702211' class='answer   answerof-173918 ' value='702211'   \/><label for='answer-id-702211' id='answer-label-702211' class=' answer'><span>To ensure all transactions can be traced through the system<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173918[]' id='answer-id-702212' class='answer   answerof-173918 ' value='702212'   \/><label for='answer-id-702212' id='answer-label-702212' class=' answer'><span>To ensure all transactions can reported<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-173919'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>An entity decides to revalue its freehold property during the current period creating a revaluation surplus. <br \/>\r<br>Where in the current period financial statements would the revaluation surplus appear?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='173919' \/><input type='hidden' id='answerType173919' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173919[]' id='answer-id-702213' class='answer   answerof-173919 ' value='702213'   \/><label for='answer-id-702213' id='answer-label-702213' class=' answer'><span>Statement of financial position and statement of changes in equity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173919[]' id='answer-id-702214' class='answer   answerof-173919 ' value='702214'   \/><label for='answer-id-702214' id='answer-label-702214' class=' answer'><span>Statement of changes in equity and statement of cash flow<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173919[]' id='answer-id-702215' class='answer   answerof-173919 ' value='702215'   \/><label for='answer-id-702215' id='answer-label-702215' class=' answer'><span>Statement of financial position and income statement<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173919[]' id='answer-id-702216' class='answer   answerof-173919 ' value='702216'   \/><label for='answer-id-702216' id='answer-label-702216' class=' answer'><span>Statement of changes in equity and income statement<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-173920'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Fraud can be conducted by employees or management. Management fraud can be hard to detect and may not seem like fraud at all as often company performance improves. <br \/>\r<br>Which ONE of the following would be an example of management fraud?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='173920' \/><input type='hidden' id='answerType173920' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173920[]' id='answer-id-702217' class='answer   answerof-173920 ' value='702217'   \/><label for='answer-id-702217' id='answer-label-702217' class=' answer'><span>Theft by management<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173920[]' id='answer-id-702218' class='answer   answerof-173920 ' value='702218'   \/><label for='answer-id-702218' id='answer-label-702218' class=' answer'><span>Improved performance and position for the company<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173920[]' id='answer-id-702219' class='answer   answerof-173920 ' value='702219'   \/><label for='answer-id-702219' id='answer-label-702219' class=' answer'><span>Charging personal expenses to a company credit card<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173920[]' id='answer-id-702220' class='answer   answerof-173920 ' value='702220'   \/><label for='answer-id-702220' id='answer-label-702220' class=' answer'><span>Trading with friends and family<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-41' style=';'><div id='questionWrap-41'  class='   watupro-question-id-173921'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>41. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=216 height=129 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image048-8.jpg\" v:shapes=\"_x0000_i1048\"><br><br \/>\r<br>A company has the following chart of accounts: <br \/>\r<br>The sales director of the northern region wants to know what the total sales of widgets are for the first quarter of the year. <br \/>\r<br>Which code would he request for his report?<\/div><input type='hidden' name='question_id[]' id='qID_41' value='173921' \/><input type='hidden' id='answerType173921' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173921[]' id='answer-id-702221' class='answer   answerof-173921 ' value='702221'   \/><label for='answer-id-702221' id='answer-label-702221' class=' answer'><span>100<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173921[]' id='answer-id-702222' class='answer   answerof-173921 ' value='702222'   \/><label for='answer-id-702222' id='answer-label-702222' class=' answer'><span>800<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173921[]' id='answer-id-702223' class='answer   answerof-173921 ' value='702223'   \/><label for='answer-id-702223' id='answer-label-702223' class=' answer'><span>100800<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173921[]' id='answer-id-702224' class='answer   answerof-173921 ' value='702224'   \/><label for='answer-id-702224' id='answer-label-702224' class=' answer'><span>800100<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-42' style=';'><div id='questionWrap-42'  class='   watupro-question-id-173922'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>42. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=191 height=161 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image050-8.jpg\" v:shapes=\"_x0000_i1049\"><br><br \/>\r<br>Which of the following items should be included in the valuation of inventory in a manufacturing company?<\/div><input type='hidden' name='question_id[]' id='qID_42' value='173922' \/><input type='hidden' id='answerType173922' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173922[]' id='answer-id-702225' class='answer   answerof-173922 ' value='702225'   \/><label for='answer-id-702225' id='answer-label-702225' class=' answer'><span>A, C and F<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173922[]' id='answer-id-702226' class='answer   answerof-173922 ' value='702226'   \/><label for='answer-id-702226' id='answer-label-702226' class=' answer'><span>B, D and E<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173922[]' id='answer-id-702227' class='answer   answerof-173922 ' value='702227'   \/><label for='answer-id-702227' id='answer-label-702227' class=' answer'><span>A, C, D and E<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173922[]' id='answer-id-702228' class='answer   answerof-173922 ' value='702228'   \/><label for='answer-id-702228' id='answer-label-702228' class=' answer'><span>B, D, E and F<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173922[]' id='answer-id-702229' class='answer   answerof-173922 ' value='702229'   \/><label for='answer-id-702229' id='answer-label-702229' class=' answer'><span>A, C, D, E and F<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173922[]' id='answer-id-702230' class='answer   answerof-173922 ' value='702230'   \/><label for='answer-id-702230' id='answer-label-702230' class=' answer'><span>A, B, D, E and F<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-43' style=';'><div id='questionWrap-43'  class='   watupro-question-id-173923'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>43. <\/span>The valuation of inventory in a manufacturing company will consist of:<\/div><input type='hidden' name='question_id[]' id='qID_43' value='173923' \/><input type='hidden' id='answerType173923' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173923[]' id='answer-id-702231' class='answer   answerof-173923 ' value='702231'   \/><label for='answer-id-702231' id='answer-label-702231' class=' answer'><span>Direct material and direct labor only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173923[]' id='answer-id-702232' class='answer   answerof-173923 ' value='702232'   \/><label for='answer-id-702232' id='answer-label-702232' class=' answer'><span>Direct material, direct labor and direct expenses only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173923[]' id='answer-id-702233' class='answer   answerof-173923 ' value='702233'   \/><label for='answer-id-702233' id='answer-label-702233' class=' answer'><span>All direct costs plus a share of production overheads<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173923[]' id='answer-id-702234' class='answer   answerof-173923 ' value='702234'   \/><label for='answer-id-702234' id='answer-label-702234' class=' answer'><span>All direct costs plus a share of production and non-production overheads<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-44' style=';'><div id='questionWrap-44'  class='   watupro-question-id-173924'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>44. <\/span>Fraud will only be prevented successfully if potential fraudsters perceive the risk of detection as high. <br \/>\r<br>Which THREE of the following are ways to prevent fraud?<\/div><input type='hidden' name='question_id[]' id='qID_44' value='173924' \/><input type='hidden' id='answerType173924' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173924[]' id='answer-id-702235' class='answer   answerof-173924 ' value='702235'   \/><label for='answer-id-702235' id='answer-label-702235' class=' answer'><span>Sufficient internal control systems<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173924[]' id='answer-id-702236' class='answer   answerof-173924 ' value='702236'   \/><label for='answer-id-702236' id='answer-label-702236' class=' answer'><span>Computerized accounting systems<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173924[]' id='answer-id-702237' class='answer   answerof-173924 ' value='702237'   \/><label for='answer-id-702237' id='answer-label-702237' class=' answer'><span>Continuous supervision of all employees<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173924[]' id='answer-id-702238' class='answer   answerof-173924 ' value='702238'   \/><label for='answer-id-702238' id='answer-label-702238' class=' answer'><span>Regular reconciliations<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173924[]' id='answer-id-702239' class='answer   answerof-173924 ' value='702239'   \/><label for='answer-id-702239' id='answer-label-702239' class=' answer'><span>Surprise audit visits<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173924[]' id='answer-id-702240' class='answer   answerof-173924 ' value='702240'   \/><label for='answer-id-702240' id='answer-label-702240' class=' answer'><span>Maintaining books of prime entry<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-45' style=';'><div id='questionWrap-45'  class='   watupro-question-id-173925'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>45. <\/span>The method of accounting that attempts to recognize changing price levels by applying an industry or asset specific price index to the cost of goods sold and assets consumed is known as:<\/div><input type='hidden' name='question_id[]' id='qID_45' value='173925' \/><input type='hidden' id='answerType173925' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173925[]' id='answer-id-702241' class='answer   answerof-173925 ' value='702241'   \/><label for='answer-id-702241' id='answer-label-702241' class=' answer'><span>Current cost accounting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173925[]' id='answer-id-702242' class='answer   answerof-173925 ' value='702242'   \/><label for='answer-id-702242' id='answer-label-702242' class=' answer'><span>Current purchasing power accounting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173925[]' id='answer-id-702243' class='answer   answerof-173925 ' value='702243'   \/><label for='answer-id-702243' id='answer-label-702243' class=' answer'><span>Historic cost accounting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173925[]' id='answer-id-702244' class='answer   answerof-173925 ' value='702244'   \/><label for='answer-id-702244' id='answer-label-702244' class=' answer'><span>Replacement cost accounting<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-46' style=';'><div id='questionWrap-46'  class='   watupro-question-id-173926'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>46. <\/span>Which ONE of the following is a possible explanation for a debit balance on the purchase ledger account of a supplier? <br \/>\r<br>(i) An invoice has been posted twice <br \/>\r<br>(ii) A credit note has been posted twice <br \/>\r<br>(iii) A payment has been recorded against the wrong supplier account <br \/>\r<br>(iv) A payment has been posted twice <br \/>\r<br>(v) A contra was posted to the supplier account but not the customer account <br \/>\r<br>(vi) Goods returned had been posted to the wrong supplier account<\/div><input type='hidden' name='question_id[]' id='qID_46' value='173926' \/><input type='hidden' id='answerType173926' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173926[]' id='answer-id-702245' class='answer   answerof-173926 ' value='702245'   \/><label for='answer-id-702245' id='answer-label-702245' class=' answer'><span>(i) and (ii) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173926[]' id='answer-id-702246' class='answer   answerof-173926 ' value='702246'   \/><label for='answer-id-702246' id='answer-label-702246' class=' answer'><span>(iii) and (iv) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173926[]' id='answer-id-702247' class='answer   answerof-173926 ' value='702247'   \/><label for='answer-id-702247' id='answer-label-702247' class=' answer'><span>(i), (ii) and (iv) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173926[]' id='answer-id-702248' class='answer   answerof-173926 ' value='702248'   \/><label for='answer-id-702248' id='answer-label-702248' class=' answer'><span>(ii), (iii) and (iv) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173926[]' id='answer-id-702249' class='answer   answerof-173926 ' value='702249'   \/><label for='answer-id-702249' id='answer-label-702249' class=' answer'><span>(i), (ii) and (v) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173926[]' id='answer-id-702250' class='answer   answerof-173926 ' value='702250'   \/><label for='answer-id-702250' id='answer-label-702250' class=' answer'><span>(iii), (iv) and (vi) only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-47' style=';'><div id='questionWrap-47'  class='   watupro-question-id-173927'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>47. <\/span>Accounting standards are needed so that financial statements will fairly and consistently describe financial performance. <br \/>\r<br>What are accounting standards an example of?<\/div><input type='hidden' name='question_id[]' id='qID_47' value='173927' \/><input type='hidden' id='answerType173927' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173927[]' id='answer-id-702251' class='answer   answerof-173927 ' value='702251'   \/><label for='answer-id-702251' id='answer-label-702251' class=' answer'><span>Principles based accounting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173927[]' id='answer-id-702252' class='answer   answerof-173927 ' value='702252'   \/><label for='answer-id-702252' id='answer-label-702252' class=' answer'><span>Cash accounting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173927[]' id='answer-id-702253' class='answer   answerof-173927 ' value='702253'   \/><label for='answer-id-702253' id='answer-label-702253' class=' answer'><span>Cost accounting<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173927[]' id='answer-id-702254' class='answer   answerof-173927 ' value='702254'   \/><label for='answer-id-702254' id='answer-label-702254' class=' answer'><span>Rules based accounting<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-48' style=';'><div id='questionWrap-48'  class='   watupro-question-id-173928'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>48. <\/span>Which ONE of the following does the Statement of Cash Flows show:<\/div><input type='hidden' name='question_id[]' id='qID_48' value='173928' \/><input type='hidden' id='answerType173928' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173928[]' id='answer-id-702255' class='answer   answerof-173928 ' value='702255'   \/><label for='answer-id-702255' id='answer-label-702255' class=' answer'><span>The assets, equity and liabilities of a business<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173928[]' id='answer-id-702256' class='answer   answerof-173928 ' value='702256'   \/><label for='answer-id-702256' id='answer-label-702256' class=' answer'><span>The revenue and expenses of a business over a period of time<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173928[]' id='answer-id-702257' class='answer   answerof-173928 ' value='702257'   \/><label for='answer-id-702257' id='answer-label-702257' class=' answer'><span>The cash usage of a business over a period of time<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173928[]' id='answer-id-702258' class='answer   answerof-173928 ' value='702258'   \/><label for='answer-id-702258' id='answer-label-702258' class=' answer'><span>Notes to go with the statements that explain the practices used<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-49' style=';'><div id='questionWrap-49'  class='   watupro-question-id-173929'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>49. <\/span>An invoice to Sammy has been entered in the sales day book as $85 instead of $58. <br \/>\r<br>To correct the position, which of the following procedures should be adopted?<\/div><input type='hidden' name='question_id[]' id='qID_49' value='173929' \/><input type='hidden' id='answerType173929' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173929[]' id='answer-id-702259' class='answer   answerof-173929 ' value='702259'   \/><label for='answer-id-702259' id='answer-label-702259' class=' answer'><span>Debit Receivables $27, Credit Sales $27 and increase the balance owing by Sammy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173929[]' id='answer-id-702260' class='answer   answerof-173929 ' value='702260'   \/><label for='answer-id-702260' id='answer-label-702260' class=' answer'><span>Debit Receivables $27, Credit Sales $27 and decrease the balance owing by Sammy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173929[]' id='answer-id-702261' class='answer   answerof-173929 ' value='702261'   \/><label for='answer-id-702261' id='answer-label-702261' class=' answer'><span>Debit Sales $27, Credit Receivables $27 and increase the balance owing by Sammy<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173929[]' id='answer-id-702262' class='answer   answerof-173929 ' value='702262'   \/><label for='answer-id-702262' id='answer-label-702262' class=' answer'><span>Debit Sales $27, Credit Receivables $27 and decrease the balance owing by Sammy<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-50' style=';'><div id='questionWrap-50'  class='   watupro-question-id-173930'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>50. <\/span>Under the normal convention of accounting, assets are shown in the balance sheet at:<\/div><input type='hidden' name='question_id[]' id='qID_50' value='173930' \/><input type='hidden' id='answerType173930' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173930[]' id='answer-id-702263' class='answer   answerof-173930 ' value='702263'   \/><label for='answer-id-702263' id='answer-label-702263' class=' answer'><span>Their current market value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173930[]' id='answer-id-702264' class='answer   answerof-173930 ' value='702264'   \/><label for='answer-id-702264' id='answer-label-702264' class=' answer'><span>Their cost value<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173930[]' id='answer-id-702265' class='answer   answerof-173930 ' value='702265'   \/><label for='answer-id-702265' id='answer-label-702265' class=' answer'><span>The current cost to the firm of replacing them<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173930[]' id='answer-id-702266' class='answer   answerof-173930 ' value='702266'   \/><label for='answer-id-702266' id='answer-label-702266' class=' answer'><span>Their economic value to the firm<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-51' style=';'><div id='questionWrap-51'  class='   watupro-question-id-173931'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>51. <\/span>A trader commenced business with capital of $20,000. At the end of the financial year he had receivables of $10,000, payables of $6,000, inventory of $12,000, cash of $4,000 and non-current assets costing $16,000. <br \/>\r<br>The profit\/loss for the period was:<\/div><input type='hidden' name='question_id[]' id='qID_51' value='173931' \/><input type='hidden' id='answerType173931' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173931[]' id='answer-id-702267' class='answer   answerof-173931 ' value='702267'   \/><label for='answer-id-702267' id='answer-label-702267' class=' answer'><span>$16,000 profit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173931[]' id='answer-id-702268' class='answer   answerof-173931 ' value='702268'   \/><label for='answer-id-702268' id='answer-label-702268' class=' answer'><span>$16,000 loss<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173931[]' id='answer-id-702269' class='answer   answerof-173931 ' value='702269'   \/><label for='answer-id-702269' id='answer-label-702269' class=' answer'><span>$8,000 profit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173931[]' id='answer-id-702270' class='answer   answerof-173931 ' value='702270'   \/><label for='answer-id-702270' id='answer-label-702270' class=' answer'><span>$8,000 loss<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-52' style=';'><div id='questionWrap-52'  class='   watupro-question-id-173932'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>52. <\/span>Which of the following transactions would be classified as a revenue transaction?<\/div><input type='hidden' name='question_id[]' id='qID_52' value='173932' \/><input type='hidden' id='answerType173932' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173932[]' id='answer-id-702271' class='answer   answerof-173932 ' value='702271'   \/><label for='answer-id-702271' id='answer-label-702271' class=' answer'><span>Purchase of plant and machinery<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173932[]' id='answer-id-702272' class='answer   answerof-173932 ' value='702272'   \/><label for='answer-id-702272' id='answer-label-702272' class=' answer'><span>Issue of share capital<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173932[]' id='answer-id-702273' class='answer   answerof-173932 ' value='702273'   \/><label for='answer-id-702273' id='answer-label-702273' class=' answer'><span>Payments made to trade payables<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173932[]' id='answer-id-702274' class='answer   answerof-173932 ' value='702274'   \/><label for='answer-id-702274' id='answer-label-702274' class=' answer'><span>Purchase of inventory for resale<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-53' style=';'><div id='questionWrap-53'  class='   watupro-question-id-173933'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>53. <\/span>Which THREE of the following represent credit balances?<\/div><input type='hidden' name='question_id[]' id='qID_53' value='173933' \/><input type='hidden' id='answerType173933' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173933[]' id='answer-id-702275' class='answer   answerof-173933 ' value='702275'   \/><label for='answer-id-702275' id='answer-label-702275' class=' answer'><span>assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173933[]' id='answer-id-702276' class='answer   answerof-173933 ' value='702276'   \/><label for='answer-id-702276' id='answer-label-702276' class=' answer'><span>liabilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173933[]' id='answer-id-702277' class='answer   answerof-173933 ' value='702277'   \/><label for='answer-id-702277' id='answer-label-702277' class=' answer'><span>income<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173933[]' id='answer-id-702278' class='answer   answerof-173933 ' value='702278'   \/><label for='answer-id-702278' id='answer-label-702278' class=' answer'><span>expenses<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173933[]' id='answer-id-702279' class='answer   answerof-173933 ' value='702279'   \/><label for='answer-id-702279' id='answer-label-702279' class=' answer'><span>capital<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173933[]' id='answer-id-702280' class='answer   answerof-173933 ' value='702280'   \/><label for='answer-id-702280' id='answer-label-702280' class=' answer'><span>drawings<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-54' style=';'><div id='questionWrap-54'  class='   watupro-question-id-173934'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>54. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=245 height=224 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image052-6.jpg\" v:shapes=\"_x0000_i1050\"><br><br \/>\r<br>A company is preparing its accounts to 30 April 2006. The latest telephone bill received by the company was dated 31 March and included call charges for the quarter 1 December to 28 February. The amount of the bill for call charges (excluding VAT) was $960. Most of the company's telephone bills are for similar amounts. <br \/>\r<br>Which of the following journal entries should be made to the company's accounts at 30 April 2006? <br \/>\r<br>The journal entries which should be made to the company's accounts at 30 April 2006 is<\/div><input type='hidden' name='question_id[]' id='qID_54' value='173934' \/><input type='hidden' id='answerType173934' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173934[]' id='answer-id-702281' class='answer   answerof-173934 ' value='702281'   \/><label for='answer-id-702281' id='answer-label-702281' class=' answer'><span>A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173934[]' id='answer-id-702282' class='answer   answerof-173934 ' value='702282'   \/><label for='answer-id-702282' id='answer-label-702282' class=' answer'><span>B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173934[]' id='answer-id-702283' class='answer   answerof-173934 ' value='702283'   \/><label for='answer-id-702283' id='answer-label-702283' class=' answer'><span>C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173934[]' id='answer-id-702284' class='answer   answerof-173934 ' value='702284'   \/><label for='answer-id-702284' id='answer-label-702284' class=' answer'><span>D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-55' style=';'><div id='questionWrap-55'  class='   watupro-question-id-173935'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>55. <\/span>Who is responsible for ensuring that internal control systems operate efficiently?<\/div><input type='hidden' name='question_id[]' id='qID_55' value='173935' \/><input type='hidden' id='answerType173935' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173935[]' id='answer-id-702285' class='answer   answerof-173935 ' value='702285'   \/><label for='answer-id-702285' id='answer-label-702285' class=' answer'><span>External auditors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173935[]' id='answer-id-702286' class='answer   answerof-173935 ' value='702286'   \/><label for='answer-id-702286' id='answer-label-702286' class=' answer'><span>Directors<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173935[]' id='answer-id-702287' class='answer   answerof-173935 ' value='702287'   \/><label for='answer-id-702287' id='answer-label-702287' class=' answer'><span>Shareholders of the company<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173935[]' id='answer-id-702288' class='answer   answerof-173935 ' value='702288'   \/><label for='answer-id-702288' id='answer-label-702288' class=' answer'><span>Creditors<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-56' style=';'><div id='questionWrap-56'  class='   watupro-question-id-173936'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>56. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=465 height=203 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image054-6.jpg\" v:shapes=\"_x0000_i1051\"><br><br \/>\r<br>Soffit plc is calculating its irrecoverable debt charge and allowance for receivables for inclusion in its year-end accounts. Based on an aged receivables schedule, it is estimated that an allowance for receivables of $125,820 is required. <br \/>\r<br>In addition, a specific allowance for receivables of $18,640 is also required for two customers who are experiencing cash flow difficulties. There are also two customers who have gone into receivership while owing the company $6,300. The current allowance for receivables is $156,000. <br \/>\r<br>Which is the correct entry to be made to the accounts to record these transactions?<\/div><input type='hidden' name='question_id[]' id='qID_56' value='173936' \/><input type='hidden' id='answerType173936' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173936[]' id='answer-id-702289' class='answer   answerof-173936 ' value='702289'   \/><label for='answer-id-702289' id='answer-label-702289' class=' answer'><span>A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173936[]' id='answer-id-702290' class='answer   answerof-173936 ' value='702290'   \/><label for='answer-id-702290' id='answer-label-702290' class=' answer'><span>B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173936[]' id='answer-id-702291' class='answer   answerof-173936 ' value='702291'   \/><label for='answer-id-702291' id='answer-label-702291' class=' answer'><span>C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173936[]' id='answer-id-702292' class='answer   answerof-173936 ' value='702292'   \/><label for='answer-id-702292' id='answer-label-702292' class=' answer'><span>D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-57' style=';'><div id='questionWrap-57'  class='   watupro-question-id-173937'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>57. <\/span>The financial statements are produced in accordance with relevant accounting standards. This compliance ensures the requirement of fair presentation of transactions and events is met <br \/>\r<br>How is this compliance emphasized?<\/div><input type='hidden' name='question_id[]' id='qID_57' value='173937' \/><input type='hidden' id='answerType173937' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173937[]' id='answer-id-702293' class='answer   answerof-173937 ' value='702293'   \/><label for='answer-id-702293' id='answer-label-702293' class=' answer'><span>Reconciliation procedures<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173937[]' id='answer-id-702294' class='answer   answerof-173937 ' value='702294'   \/><label for='answer-id-702294' id='answer-label-702294' class=' answer'><span>Employment of qualified employees<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173937[]' id='answer-id-702295' class='answer   answerof-173937 ' value='702295'   \/><label for='answer-id-702295' id='answer-label-702295' class=' answer'><span>Specific disclosure<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173937[]' id='answer-id-702296' class='answer   answerof-173937 ' value='702296'   \/><label for='answer-id-702296' id='answer-label-702296' class=' answer'><span>Regular preparation of financial statements<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-58' style=';'><div id='questionWrap-58'  class='   watupro-question-id-173938'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>58. <\/span>A non-current asset was purchased for &pound;240000 at the beginning of Year 1, with an expected life of 7 years and a residual value of &pound;50000. It was depreciated by 20% per annum using the reducing balance method. <br \/>\r<br>At the beginning of Year 4 it was sold for &pound;100000. <br \/>\r<br>The result of this was:<\/div><input type='hidden' name='question_id[]' id='qID_58' value='173938' \/><input type='hidden' id='answerType173938' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173938[]' id='answer-id-702297' class='answer   answerof-173938 ' value='702297'   \/><label for='answer-id-702297' id='answer-label-702297' class=' answer'><span>A loss on disposal of &pound;2720<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173938[]' id='answer-id-702298' class='answer   answerof-173938 ' value='702298'   \/><label for='answer-id-702298' id='answer-label-702298' class=' answer'><span>A loss on disposal of &pound;22880<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173938[]' id='answer-id-702299' class='answer   answerof-173938 ' value='702299'   \/><label for='answer-id-702299' id='answer-label-702299' class=' answer'><span>A profit on disposal of &pound;50000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173938[]' id='answer-id-702300' class='answer   answerof-173938 ' value='702300'   \/><label for='answer-id-702300' id='answer-label-702300' class=' answer'><span>A profit on disposal of &pound;58571<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-59' style=';'><div id='questionWrap-59'  class='   watupro-question-id-173939'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>59. <\/span>Which of the following would result in an increase in the cash balance for the period? <br \/>\r<br>(a) A reduction in inventory <br \/>\r<br>(b) A reduction in receivables <br \/>\r<br>(c) A reduction in payables <br \/>\r<br>(d) A gain on disposal of non-current assets<\/div><input type='hidden' name='question_id[]' id='qID_59' value='173939' \/><input type='hidden' id='answerType173939' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173939[]' id='answer-id-702301' class='answer   answerof-173939 ' value='702301'   \/><label for='answer-id-702301' id='answer-label-702301' class=' answer'><span>(a) and (b) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173939[]' id='answer-id-702302' class='answer   answerof-173939 ' value='702302'   \/><label for='answer-id-702302' id='answer-label-702302' class=' answer'><span>(b) and (c) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173939[]' id='answer-id-702303' class='answer   answerof-173939 ' value='702303'   \/><label for='answer-id-702303' id='answer-label-702303' class=' answer'><span>(c) and (d) only<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173939[]' id='answer-id-702304' class='answer   answerof-173939 ' value='702304'   \/><label for='answer-id-702304' id='answer-label-702304' class=' answer'><span>(a), (b) and (c) only<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-60' style=';'><div id='questionWrap-60'  class='   watupro-question-id-173940'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>60. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=398 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image056-6.jpg\" v:shapes=\"_x0000_i1052\"><br><br \/>\r<br>A sole trader, who only has cash sales, banks all cash receipts above the agreed petty cash float of $400. <br \/>\r<br>During week 2 he has the following transactions: <br \/>\r<br>What is the amount banked at the end of week 2?<\/div><input type='hidden' name='question_id[]' id='qID_60' value='173940' \/><input type='hidden' id='answerType173940' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173940[]' id='answer-id-702305' class='answer   answerof-173940 ' value='702305'   \/><label for='answer-id-702305' id='answer-label-702305' class=' answer'><span>$25<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173940[]' id='answer-id-702306' class='answer   answerof-173940 ' value='702306'   \/><label for='answer-id-702306' id='answer-label-702306' class=' answer'><span>$225<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173940[]' id='answer-id-702307' class='answer   answerof-173940 ' value='702307'   \/><label for='answer-id-702307' id='answer-label-702307' class=' answer'><span>$425<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173940[]' id='answer-id-702308' class='answer   answerof-173940 ' value='702308'   \/><label for='answer-id-702308' id='answer-label-702308' class=' answer'><span>$625<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-61' style=';'><div id='questionWrap-61'  class='   watupro-question-id-173941'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>61. <\/span>DRAG DROP <br \/>\r<br>FGH has extracted its trial balance from its nominal ledger for the year ended 31 March 20X6. The items below have a value greater than SNil. <br \/>\r<br>Which are debit and which are credit balances? <br \/>\r<br><br><img decoding=\"async\" width=649 height=142 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image058-6.jpg\" v:shapes=\"_x0000_i1053\"><br><\/div><input type='hidden' name='question_id[]' id='qID_61' value='173941' \/><input type='hidden' id='answerType173941' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173941[]' id='textarea_q_173941' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-62' style=';'><div id='questionWrap-62'  class='   watupro-question-id-173942'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>62. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=353 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image062-7.jpg\" v:shapes=\"_x0000_i1055\"><br><br \/>\r<br>What is the correct ledger entry for purchase of goods on credit? <br \/>\r<br>The answer is:<\/div><input type='hidden' name='question_id[]' id='qID_62' value='173942' \/><input type='hidden' id='answerType173942' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173942[]' id='answer-id-702310' class='answer   answerof-173942 ' value='702310'   \/><label for='answer-id-702310' id='answer-label-702310' class=' answer'><span>Option A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173942[]' id='answer-id-702311' class='answer   answerof-173942 ' value='702311'   \/><label for='answer-id-702311' id='answer-label-702311' class=' answer'><span>Option B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173942[]' id='answer-id-702312' class='answer   answerof-173942 ' value='702312'   \/><label for='answer-id-702312' id='answer-label-702312' class=' answer'><span>Option C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173942[]' id='answer-id-702313' class='answer   answerof-173942 ' value='702313'   \/><label for='answer-id-702313' id='answer-label-702313' class=' answer'><span>Option D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-63' style=';'><div id='questionWrap-63'  class='   watupro-question-id-173943'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>63. <\/span>The purpose of the external audit is the examination of, and expression of opinion on the financial statements of an entity. <br \/>\r<br>What is the purpose of internal audits?<\/div><input type='hidden' name='question_id[]' id='qID_63' value='173943' \/><input type='hidden' id='answerType173943' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173943[]' id='answer-id-702314' class='answer   answerof-173943 ' value='702314'   \/><label for='answer-id-702314' id='answer-label-702314' class=' answer'><span>To prepare for external audits<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173943[]' id='answer-id-702315' class='answer   answerof-173943 ' value='702315'   \/><label for='answer-id-702315' id='answer-label-702315' class=' answer'><span>To assist employees of the organization in effective discharge of their responsibilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173943[]' id='answer-id-702316' class='answer   answerof-173943 ' value='702316'   \/><label for='answer-id-702316' id='answer-label-702316' class=' answer'><span>To create fear<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173943[]' id='answer-id-702317' class='answer   answerof-173943 ' value='702317'   \/><label for='answer-id-702317' id='answer-label-702317' class=' answer'><span>To confirm balances presented in the financial statements<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-64' style=';'><div id='questionWrap-64'  class='   watupro-question-id-173944'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>64. <\/span>Which one of the following book-keeping errors does not affect the view given by the financial accounts?<\/div><input type='hidden' name='question_id[]' id='qID_64' value='173944' \/><input type='hidden' id='answerType173944' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173944[]' id='answer-id-702318' class='answer   answerof-173944 ' value='702318'   \/><label for='answer-id-702318' id='answer-label-702318' class=' answer'><span>An error of omission<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173944[]' id='answer-id-702319' class='answer   answerof-173944 ' value='702319'   \/><label for='answer-id-702319' id='answer-label-702319' class=' answer'><span>An error of commission<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173944[]' id='answer-id-702320' class='answer   answerof-173944 ' value='702320'   \/><label for='answer-id-702320' id='answer-label-702320' class=' answer'><span>An error of principle<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173944[]' id='answer-id-702321' class='answer   answerof-173944 ' value='702321'   \/><label for='answer-id-702321' id='answer-label-702321' class=' answer'><span>An error of original entry<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-65' style=';'><div id='questionWrap-65'  class='   watupro-question-id-173945'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>65. <\/span>A payment to a supplier has been credited to the supplier's account and debited to the bank account. <br \/>\r<br>This would result in<\/div><input type='hidden' name='question_id[]' id='qID_65' value='173945' \/><input type='hidden' id='answerType173945' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173945[]' id='answer-id-702322' class='answer   answerof-173945 ' value='702322'   \/><label for='answer-id-702322' id='answer-label-702322' class=' answer'><span>an understatement of profit and an overstatement of liabilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173945[]' id='answer-id-702323' class='answer   answerof-173945 ' value='702323'   \/><label for='answer-id-702323' id='answer-label-702323' class=' answer'><span>an understatement of profit and an overstatement of assets<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173945[]' id='answer-id-702324' class='answer   answerof-173945 ' value='702324'   \/><label for='answer-id-702324' id='answer-label-702324' class=' answer'><span>an overstatement of profit and an overstatement of liabilities<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173945[]' id='answer-id-702325' class='answer   answerof-173945 ' value='702325'   \/><label for='answer-id-702325' id='answer-label-702325' class=' answer'><span>an overstatement of profit and an overstatement of assets<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-66' style=';'><div id='questionWrap-66'  class='   watupro-question-id-173946'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>66. <\/span>Which ONE of the following is an asset?<\/div><input type='hidden' name='question_id[]' id='qID_66' value='173946' \/><input type='hidden' id='answerType173946' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173946[]' id='answer-id-702326' class='answer   answerof-173946 ' value='702326'   \/><label for='answer-id-702326' id='answer-label-702326' class=' answer'><span>Sales tax paid on an item<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173946[]' id='answer-id-702327' class='answer   answerof-173946 ' value='702327'   \/><label for='answer-id-702327' id='answer-label-702327' class=' answer'><span>Sales tax received from the sale of an item<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173946[]' id='answer-id-702328' class='answer   answerof-173946 ' value='702328'   \/><label for='answer-id-702328' id='answer-label-702328' class=' answer'><span>Sales tax exempt from an item<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-67' style=';'><div id='questionWrap-67'  class='   watupro-question-id-173947'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>67. <\/span>CORRECT TEXT <br \/>\r<br>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=467 height=216 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image064-7.jpg\" v:shapes=\"_x0000_i1056\"><br><br \/>\r<br>The following information is available relating to the non-current assets of Company X: <br \/>\r<br>Non-current assets that had originally cost $225,000 and had a carrying value of $105,000 were sold during the year. <br \/>\r<br>The figure for purchases of non-current assets to be shown in the statement of cash flows will be, to the nearest $1,000:<\/div><input type='hidden' name='question_id[]' id='qID_67' value='173947' \/><input type='hidden' id='answerType173947' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173947[]' id='textarea_q_173947' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-68' style=';'><div id='questionWrap-68'  class='   watupro-question-id-173948'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>68. <\/span>As well as independence other essential elements of internal audit can be identified. <br \/>\r<br>Which THREE of the following would be classed as essential elements of internal audit?<\/div><input type='hidden' name='question_id[]' id='qID_68' value='173948' \/><input type='hidden' id='answerType173948' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173948[]' id='answer-id-702330' class='answer   answerof-173948 ' value='702330'   \/><label for='answer-id-702330' id='answer-label-702330' class=' answer'><span>Due care<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173948[]' id='answer-id-702331' class='answer   answerof-173948 ' value='702331'   \/><label for='answer-id-702331' id='answer-label-702331' class=' answer'><span>Relationships<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173948[]' id='answer-id-702332' class='answer   answerof-173948 ' value='702332'   \/><label for='answer-id-702332' id='answer-label-702332' class=' answer'><span>Cost efficient<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173948[]' id='answer-id-702333' class='answer   answerof-173948 ' value='702333'   \/><label for='answer-id-702333' id='answer-label-702333' class=' answer'><span>Timely<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173948[]' id='answer-id-702334' class='answer   answerof-173948 ' value='702334'   \/><label for='answer-id-702334' id='answer-label-702334' class=' answer'><span>Evidence<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173948[]' id='answer-id-702335' class='answer   answerof-173948 ' value='702335'   \/><label for='answer-id-702335' id='answer-label-702335' class=' answer'><span>Efficient<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-69' style=';'><div id='questionWrap-69'  class='   watupro-question-id-173949'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>69. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=294 height=251 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image066-7.jpg\" v:shapes=\"_x0000_i1057\"><br><br \/>\r<br>The following information is given at a manufacturer's year end: <br \/>\r<br>Using some or all of the above figures, the correct figure for factory cost of goods completed is:<\/div><input type='hidden' name='question_id[]' id='qID_69' value='173949' \/><input type='hidden' id='answerType173949' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173949[]' id='answer-id-702336' class='answer   answerof-173949 ' value='702336'   \/><label for='answer-id-702336' id='answer-label-702336' class=' answer'><span>&pound;115,700<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173949[]' id='answer-id-702337' class='answer   answerof-173949 ' value='702337'   \/><label for='answer-id-702337' id='answer-label-702337' class=' answer'><span>&pound;125,700<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173949[]' id='answer-id-702338' class='answer   answerof-173949 ' value='702338'   \/><label for='answer-id-702338' id='answer-label-702338' class=' answer'><span>&pound;131,700<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173949[]' id='answer-id-702339' class='answer   answerof-173949 ' value='702339'   \/><label for='answer-id-702339' id='answer-label-702339' class=' answer'><span>&pound;135,300<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-70' style=';'><div id='questionWrap-70'  class='   watupro-question-id-173950'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>70. <\/span>A company purchases a piece of machinery for $180,000. It is estimated that the machinery will produce 450,000 units over its useful life of 10 years. The residual value at the end of 10 years is nil. After eight years, the machine has produced 340,000 units and is sold for $30,000. <br \/>\r<br>The profit\/loss arising on disposal of the asset is<\/div><input type='hidden' name='question_id[]' id='qID_70' value='173950' \/><input type='hidden' id='answerType173950' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173950[]' id='answer-id-702340' class='answer   answerof-173950 ' value='702340'   \/><label for='answer-id-702340' id='answer-label-702340' class=' answer'><span>$6,000 loss<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173950[]' id='answer-id-702341' class='answer   answerof-173950 ' value='702341'   \/><label for='answer-id-702341' id='answer-label-702341' class=' answer'><span>$14,000 loss<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173950[]' id='answer-id-702342' class='answer   answerof-173950 ' value='702342'   \/><label for='answer-id-702342' id='answer-label-702342' class=' answer'><span>$14,000 profit<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173950[]' id='answer-id-702343' class='answer   answerof-173950 ' value='702343'   \/><label for='answer-id-702343' id='answer-label-702343' class=' answer'><span>$6,000 profit<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-71' style=';'><div id='questionWrap-71'  class='   watupro-question-id-173951'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>71. <\/span>Cost of goods sold for a manufacturing company is the total of<\/div><input type='hidden' name='question_id[]' id='qID_71' value='173951' \/><input type='hidden' id='answerType173951' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173951[]' id='answer-id-702344' class='answer   answerof-173951 ' value='702344'   \/><label for='answer-id-702344' id='answer-label-702344' class=' answer'><span>prime costs + production overheads + opening work in progress - closing work in progress + opening inventories of finished goods - closing inventories of finished goods<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173951[]' id='answer-id-702345' class='answer   answerof-173951 ' value='702345'   \/><label for='answer-id-702345' id='answer-label-702345' class=' answer'><span>prime costs + production overheads + opening inventories of raw materials - closing inventories of raw materials + opening work in progress - closing work in progress<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173951[]' id='answer-id-702346' class='answer   answerof-173951 ' value='702346'   \/><label for='answer-id-702346' id='answer-label-702346' class=' answer'><span>prime costs + production overheads - opening work in progress + closing work in progress - opening inventories of finished goods + closing inventories of finished goods<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173951[]' id='answer-id-702347' class='answer   answerof-173951 ' value='702347'   \/><label for='answer-id-702347' id='answer-label-702347' class=' answer'><span>prime costs + production overheads + opening inventories of raw materials - closing inventories of raw materials + opening work in progress - closing work in progress + opening inventories of finished goods - closing inventories of finished goods<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-72' style=';'><div id='questionWrap-72'  class='   watupro-question-id-173952'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>72. <\/span>CORRECT TEXT <br \/>\r<br>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=295 height=105 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image068-6.jpg\" v:shapes=\"_x0000_i1058\"><br><br \/>\r<br>A company operates an AVCO system of inventory. Opening inventory at the beginning of the period was 400 units @ $6.50 per unit. <br \/>\r<br>During the period, the following purchases and issues were recorded: <br \/>\r<br>The amount charged to the company's income statement in the period is<\/div><input type='hidden' name='question_id[]' id='qID_72' value='173952' \/><input type='hidden' id='answerType173952' value='textarea'><!-- end question-content--><\/div><div class='question-choices '><p><textarea name='answer-173952[]' id='textarea_q_173952' class='watupro-textarea-medium' rows='5' cols='80'><\/textarea>\n<\/p><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-73' style=';'><div id='questionWrap-73'  class='   watupro-question-id-173953'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>73. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=544 height=348 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image070-5.jpg\" v:shapes=\"_x0000_i1059\"><br><br \/>\r<br>John, an employee of Kelt Ltd, earns gross wages for a week of &pound;425.76. <br \/>\r<br>Income tax is deducted at a rate of 25% on all earnings in excess of &pound;85.00 per week and he is also liable to pay National Insurance contributions of 9% of his total earnings. Employers national insurance contributions are at a rate of 10.5%. <br \/>\r<br>What are the correct ledger entries in the accounts of Kelt Ltd? <br \/>\r<br>The answer is:<\/div><input type='hidden' name='question_id[]' id='qID_73' value='173953' \/><input type='hidden' id='answerType173953' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173953[]' id='answer-id-702349' class='answer   answerof-173953 ' value='702349'   \/><label for='answer-id-702349' id='answer-label-702349' class=' answer'><span>Option A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173953[]' id='answer-id-702350' class='answer   answerof-173953 ' value='702350'   \/><label for='answer-id-702350' id='answer-label-702350' class=' answer'><span>Option B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173953[]' id='answer-id-702351' class='answer   answerof-173953 ' value='702351'   \/><label for='answer-id-702351' id='answer-label-702351' class=' answer'><span>Option C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173953[]' id='answer-id-702352' class='answer   answerof-173953 ' value='702352'   \/><label for='answer-id-702352' id='answer-label-702352' class=' answer'><span>Option D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-74' style=';'><div id='questionWrap-74'  class='   watupro-question-id-173954'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>74. <\/span>DEF prepares its financial statements to 30 September each year On 1 March 20X5 DEF acquires an office and immediately rents it to a tenant charging $2,400 a quarter payable in advance. <br \/>\r<br>The tenant pays $2,400 on each of the following days 1 March 20X5, 6 June 20X5, 4 September 20X5 and 1 December 20X5. <br \/>\r<br>What is the liability reported in the statement of financial position relating to the rent at 30 September 20X5?<\/div><input type='hidden' name='question_id[]' id='qID_74' value='173954' \/><input type='hidden' id='answerType173954' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173954[]' id='answer-id-702353' class='answer   answerof-173954 ' value='702353'   \/><label for='answer-id-702353' id='answer-label-702353' class=' answer'><span>$7,200<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173954[]' id='answer-id-702354' class='answer   answerof-173954 ' value='702354'   \/><label for='answer-id-702354' id='answer-label-702354' class=' answer'><span>$1,600<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173954[]' id='answer-id-702355' class='answer   answerof-173954 ' value='702355'   \/><label for='answer-id-702355' id='answer-label-702355' class=' answer'><span>$4,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173954[]' id='answer-id-702356' class='answer   answerof-173954 ' value='702356'   \/><label for='answer-id-702356' id='answer-label-702356' class=' answer'><span>$5,600<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-75' style=';'><div id='questionWrap-75'  class='   watupro-question-id-173955'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>75. <\/span>Before lending to an entity, which TWO of the following pieces of information would a potential lender want to consider?<\/div><input type='hidden' name='question_id[]' id='qID_75' value='173955' \/><input type='hidden' id='answerType173955' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173955[]' id='answer-id-702357' class='answer   answerof-173955 ' value='702357'   \/><label for='answer-id-702357' id='answer-label-702357' class=' answer'><span>Past tax payments made by the entity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173955[]' id='answer-id-702358' class='answer   answerof-173955 ' value='702358'   \/><label for='answer-id-702358' id='answer-label-702358' class=' answer'><span>Social policies of the entity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173955[]' id='answer-id-702359' class='answer   answerof-173955 ' value='702359'   \/><label for='answer-id-702359' id='answer-label-702359' class=' answer'><span>Dividend policy of the entity<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173955[]' id='answer-id-702360' class='answer   answerof-173955 ' value='702360'   \/><label for='answer-id-702360' id='answer-label-702360' class=' answer'><span>Ability of the entity to meet interest payments<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173955[]' id='answer-id-702361' class='answer   answerof-173955 ' value='702361'   \/><label for='answer-id-702361' id='answer-label-702361' class=' answer'><span>Long term business plans of the entity<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-76' style=';'><div id='questionWrap-76'  class='   watupro-question-id-173956'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>76. <\/span>A company which is VAT-registered receives an invoice for goods purchased for resale totaling $2,585 from a supplier that is not VAT-registered. VAT is at the rate of 17.5%. <br \/>\r<br>The correct entry to record the invoice is: <br \/>\r<br>A) <br \/>\r<br><br><img decoding=\"async\" width=236 height=48 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image072-4.jpg\" v:shapes=\"_x0000_i1060\"><br><br \/>\r<br>B) <br \/>\r<br><br><img decoding=\"async\" width=236 height=48 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image074-4.jpg\" v:shapes=\"_x0000_i1061\"><br><br \/>\r<br>C) <br \/>\r<br><br><img decoding=\"async\" width=256 height=97 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image076-4.jpg\" v:shapes=\"_x0000_i1062\"><br><br \/>\r<br>D) <br \/>\r<br><br><img decoding=\"async\" width=236 height=97 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image078-4.jpg\" v:shapes=\"_x0000_i1063\"><br><\/div><input type='hidden' name='question_id[]' id='qID_76' value='173956' \/><input type='hidden' id='answerType173956' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173956[]' id='answer-id-702362' class='answer   answerof-173956 ' value='702362'   \/><label for='answer-id-702362' id='answer-label-702362' class=' answer'><span>Exhibit A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173956[]' id='answer-id-702363' class='answer   answerof-173956 ' value='702363'   \/><label for='answer-id-702363' id='answer-label-702363' class=' answer'><span>Exhibit B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173956[]' id='answer-id-702364' class='answer   answerof-173956 ' value='702364'   \/><label for='answer-id-702364' id='answer-label-702364' class=' answer'><span>Exhibit C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173956[]' id='answer-id-702365' class='answer   answerof-173956 ' value='702365'   \/><label for='answer-id-702365' id='answer-label-702365' class=' answer'><span>Exhibit D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-77' style=';'><div id='questionWrap-77'  class='   watupro-question-id-173957'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>77. <\/span>Which of the following transactions would be classified as a capital transaction?<\/div><input type='hidden' name='question_id[]' id='qID_77' value='173957' \/><input type='hidden' id='answerType173957' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173957[]' id='answer-id-702366' class='answer   answerof-173957 ' value='702366'   \/><label for='answer-id-702366' id='answer-label-702366' class=' answer'><span>Depreciation on plant and machinery<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173957[]' id='answer-id-702367' class='answer   answerof-173957 ' value='702367'   \/><label for='answer-id-702367' id='answer-label-702367' class=' answer'><span>Expenditure on heat and light<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173957[]' id='answer-id-702368' class='answer   answerof-173957 ' value='702368'   \/><label for='answer-id-702368' id='answer-label-702368' class=' answer'><span>Repayment of bank loan<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173957[]' id='answer-id-702369' class='answer   answerof-173957 ' value='702369'   \/><label for='answer-id-702369' id='answer-label-702369' class=' answer'><span>Payment of dividends<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-78' style=';'><div id='questionWrap-78'  class='   watupro-question-id-173958'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>78. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=508 height=144 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image080-4.jpg\" v:shapes=\"_x0000_i1064\"><br><br \/>\r<br>Which of the following balances normally result from the double-entry system of book-keeping? <br \/>\r<br>The answer is:<\/div><input type='hidden' name='question_id[]' id='qID_78' value='173958' \/><input type='hidden' id='answerType173958' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173958[]' id='answer-id-702370' class='answer   answerof-173958 ' value='702370'   \/><label for='answer-id-702370' id='answer-label-702370' class=' answer'><span>Option A<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173958[]' id='answer-id-702371' class='answer   answerof-173958 ' value='702371'   \/><label for='answer-id-702371' id='answer-label-702371' class=' answer'><span>Option B<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173958[]' id='answer-id-702372' class='answer   answerof-173958 ' value='702372'   \/><label for='answer-id-702372' id='answer-label-702372' class=' answer'><span>Option C<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173958[]' id='answer-id-702373' class='answer   answerof-173958 ' value='702373'   \/><label for='answer-id-702373' id='answer-label-702373' class=' answer'><span>Option D<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-79' style=';'><div id='questionWrap-79'  class='   watupro-question-id-173959'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>79. <\/span>Refer to the Exhibit. <br \/>\r<br><br><img decoding=\"async\" width=215 height=125 src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/uploads\/2021\/04\/image082-4.jpg\" v:shapes=\"_x0000_i1065\"><br><br \/>\r<br>What is the wages expense for the income statement for month 1?<\/div><input type='hidden' name='question_id[]' id='qID_79' value='173959' \/><input type='hidden' id='answerType173959' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173959[]' id='answer-id-702374' class='answer   answerof-173959 ' value='702374'   \/><label for='answer-id-702374' id='answer-label-702374' class=' answer'><span>$3,808<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173959[]' id='answer-id-702375' class='answer   answerof-173959 ' value='702375'   \/><label for='answer-id-702375' id='answer-label-702375' class=' answer'><span>$4,428<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173959[]' id='answer-id-702376' class='answer   answerof-173959 ' value='702376'   \/><label for='answer-id-702376' id='answer-label-702376' class=' answer'><span>$6,236<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-173959[]' id='answer-id-702377' class='answer   answerof-173959 ' value='702377'   \/><label for='answer-id-702377' id='answer-label-702377' class=' answer'><span>$6,966<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-80' style=';'><div id='questionWrap-80'  class='   watupro-question-id-173960'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>80. <\/span>If the royalty cost falls on items used in the manufacturing process, which TWO of the following would be true?<\/div><input type='hidden' name='question_id[]' id='qID_80' value='173960' \/><input type='hidden' id='answerType173960' value='checkbox'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173960[]' id='answer-id-702378' class='answer   answerof-173960 ' value='702378'   \/><label for='answer-id-702378' id='answer-label-702378' class=' answer'><span>Prime cost increases<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173960[]' id='answer-id-702379' class='answer   answerof-173960 ' value='702379'   \/><label for='answer-id-702379' id='answer-label-702379' class=' answer'><span>Factory cost of production reduces.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173960[]' id='answer-id-702380' class='answer   answerof-173960 ' value='702380'   \/><label for='answer-id-702380' id='answer-label-702380' class=' answer'><span>Factory cost of goods completed remains the same<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173960[]' id='answer-id-702381' class='answer   answerof-173960 ' value='702381'   \/><label for='answer-id-702381' id='answer-label-702381' class=' answer'><span>Factory cost of production increases<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='checkbox' name='answer-173960[]' id='answer-id-702382' class='answer   answerof-173960 ' value='702382'   \/><label for='answer-id-702382' id='answer-label-702382' class=' answer'><span>Prime cost reduces<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-81'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons5288\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; Previous\" onclick=\"WatuPRO.nextQuestion(event, 'previous');\"\/><\/div>\t\t  \t\t  \t\t   \n\t\t   \t  \t\t<div><input type=\"button\" name=\"action\" class=\"watupro-submit-button\" onclick=\"WatuPRO.submitResult(event)\" id=\"action-button\" value=\"View Results\"  \/>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\n\t<input type=\"hidden\" name=\"quiz_id\" value=\"5288\" id=\"watuPROExamID\"\/>\n\t<input type=\"hidden\" name=\"start_time\" id=\"startTime\" value=\"2026-05-10 01:20:23\" \/>\n\t<input type=\"hidden\" name=\"start_timestamp\" id=\"startTimeStamp\" value=\"1778376023\" \/>\n\t<input type=\"hidden\" name=\"question_ids\" value=\"\" \/>\n\t<input type=\"hidden\" name=\"watupro_questions\" value=\"173881:702092,702093,702094,702095 | 173882:702096,702097,702098,702099 | 173883:702100,702101,702102,702103 | 173884:702104,702105,702106,702107 | 173885:702108,702109,702110,702111 | 173886:702112,702113,702114,702115 | 173887:702116,702117,702118,702119 | 173888:702120,702121,702122,702123 | 173889:702124,702125,702126,702127 | 173890:702128 | 173891:702129 | 173892:702130,702131,702132,702133 | 173893:702134,702135,702136,702137 | 173894:702138 | 173895:702139 | 173896:702140 | 173897:702141 | 173898:702142,702143,702144,702145,702146,702147 | 173899:702148,702149,702150,702151 | 173900:702152,702153,702154,702155 | 173901:702156,702157,702158,702159 | 173902:702160,702161,702162,702163 | 173903:702164,702165,702166,702167 | 173904:702168 | 173905:702169,702170,702171,702172 | 173906:702173,702174,702175,702176 | 173907:702177,702178,702179,702180 | 173908:702181,702182,702183,702184 | 173909:702185,702186,702187,702188 | 173910:702189,702190,702191,702192 | 173911:702193 | 173912:702194 | 173913:702195 | 173914:702196,702197,702198,702199 | 173915:702200,702201,702202,702203 | 173916:702204 | 173917:702205,702206,702207,702208 | 173918:702209,702210,702211,702212 | 173919:702213,702214,702215,702216 | 173920:702217,702218,702219,702220 | 173921:702221,702222,702223,702224 | 173922:702225,702226,702227,702228,702229,702230 | 173923:702231,702232,702233,702234 | 173924:702235,702236,702237,702238,702239,702240 | 173925:702241,702242,702243,702244 | 173926:702245,702246,702247,702248,702249,702250 | 173927:702251,702252,702253,702254 | 173928:702255,702256,702257,702258 | 173929:702259,702260,702261,702262 | 173930:702263,702264,702265,702266 | 173931:702267,702268,702269,702270 | 173932:702271,702272,702273,702274 | 173933:702275,702276,702277,702278,702279,702280 | 173934:702281,702282,702283,702284 | 173935:702285,702286,702287,702288 | 173936:702289,702290,702291,702292 | 173937:702293,702294,702295,702296 | 173938:702297,702298,702299,702300 | 173939:702301,702302,702303,702304 | 173940:702305,702306,702307,702308 | 173941:702309 | 173942:702310,702311,702312,702313 | 173943:702314,702315,702316,702317 | 173944:702318,702319,702320,702321 | 173945:702322,702323,702324,702325 | 173946:702326,702327,702328 | 173947:702329 | 173948:702330,702331,702332,702333,702334,702335 | 173949:702336,702337,702338,702339 | 173950:702340,702341,702342,702343 | 173951:702344,702345,702346,702347 | 173952:702348 | 173953:702349,702350,702351,702352 | 173954:702353,702354,702355,702356 | 173955:702357,702358,702359,702360,702361 | 173956:702362,702363,702364,702365 | 173957:702366,702367,702368,702369 | 173958:702370,702371,702372,702373 | 173959:702374,702375,702376,702377 | 173960:702378,702379,702380,702381,702382\" \/>\n\t<input type=\"hidden\" name=\"no_ajax\" value=\"0\">\t\t\t<\/form>\n\t<p>&nbsp;<\/p>\n<\/div>\n\n<script type=\"text\/javascript\">\n\/\/jQuery(document).ready(function(){\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \t\nvar question_ids = \"173881,173882,173883,173884,173885,173886,173887,173888,173889,173890,173891,173892,173893,173894,173895,173896,173897,173898,173899,173900,173901,173902,173903,173904,173905,173906,173907,173908,173909,173910,173911,173912,173913,173914,173915,173916,173917,173918,173919,173920,173921,173922,173923,173924,173925,173926,173927,173928,173929,173930,173931,173932,173933,173934,173935,173936,173937,173938,173939,173940,173941,173942,173943,173944,173945,173946,173947,173948,173949,173950,173951,173952,173953,173954,173955,173956,173957,173958,173959,173960\";\nWatuPROSettings[5288] = {};\nWatuPRO.qArr = question_ids.split(',');\nWatuPRO.exam_id = 5288;\t    \nWatuPRO.post_id = 22560;\nWatuPRO.store_progress = 0;\nWatuPRO.curCatPage = 1;\nWatuPRO.requiredIDs=\"0\".split(\",\");\nWatuPRO.hAppID = \"0.42097000 1778376023\";\nvar url = \"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/show_exam.php\";\nWatuPRO.examMode = 1;\nWatuPRO.siteURL=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-admin\/admin-ajax.php\";\nWatuPRO.emailIsNotRequired = 0;\nWatuPROIntel.init(5288);\nWatuPRO.inCategoryPages=1;});    \t \n<\/script>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8440,357],"tags":[12276,12277,12278,12279,12280,12281],"class_list":["post-22560","post","type-post","status-publish","format-standard","hentry","category-certificate-in-business-accounting","category-cima","tag-cimapra17-ba3-1-eng","tag-cimapra17-ba3-1-eng-dumps","tag-cimapra17-ba3-1-eng-dumps-questions","tag-cimapra17-ba3-1-eng-exam-dumps","tag-cimapra17-ba3-1-eng-exam-questions","tag-cimapra17-ba3-1-eng-free-dumps"],"_links":{"self":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts\/22560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/comments?post=22560"}],"version-history":[{"count":1,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts\/22560\/revisions"}],"predecessor-version":[{"id":22562,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/posts\/22560\/revisions\/22562"}],"wp:attachment":[{"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/media?parent=22560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/categories?post=22560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dumpsbase.com\/freedumps\/wp-json\/wp\/v2\/tags?post=22560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}