5 Which of the following events after the balance sheet date would normally qualify as adjusting events accordingto IAS 10 Events after the balance sheet date?1 The bankruptcy of a credit customer with a balance outstanding at the balance sheet date.2 A d

题目

5 Which of the following events after the balance sheet date would normally qualify as adjusting events according

to IAS 10 Events after the balance sheet date?

1 The bankruptcy of a credit customer with a balance outstanding at the balance sheet date.

2 A decline in the market value of investments.

3 The declaration of an ordinary dividend.

4 The determination of the cost of assets purchased before the balance sheet date.

A 1, 3, and 4

B 1 and 2 only

C 2 and 3 only

D 1 and 4 only

更多“5 Which of the following events after the balance sheet date would normally qualify as adjusting events accordingto IAS 10 Events after the balance sheet date?1 The bankruptcy of a credit customer with a balance outstanding at the balance sheet date.2 A d”相关问题

第1题

20 Which of the following events occurring after the balance sheet date are classified as adjusting, if material?1 The sale of inventories valued at cost at the balance sheet date for a figure in excess of cost.2 A valuation of land and buildings providing evidence of an impairment in value at the year end.3 The issue of shares and loan notes.4 The insolvency of a customer with a balance outstanding at the year end.A 1 and 3B 2 and 4C 2 and 3D 1 and 4

点击查看答案
第2题

22 Which of the following statements about limited liability companies’ accounting is/are correct?1 A revaluation reserve arises when a non-current asset is sold at a profit.2 The authorised share capital of a company is the maximum nominal value of shares and loan notes the companymay issue.3 The notes to the financial statements must contain details of all adjusting events as defined in IAS10 Events afterthe balance sheet date.A All three statementsB 1 and 2 onlyC 2 and 3 onlyD None of the statements

点击查看答案
第3题

12 Which of the following statements are correct?(1) Contingent assets are included as assets in financial statements if it is probable that they will arise.(2) Contingent liabilities must be provided for in financial statements if it is probable that they will arise.(3) Details of all adjusting events after the balance sheet date must be given in notes to the financial statements.(4) Material non-adjusting events are disclosed by note in the financial statements.A 1 and 2B 2 and 4C 3 and 4D 1 and 3

点击查看答案
第4题

(d) Briefly describe the principal audit work to be performed in respect of the carrying amount of the followingitems in the balance sheet:(i) trade receivables; and (3 marks)

点击查看答案
第5题

(b) Explain the principal audit procedures to be performed during the final audit in respect of the estimatedwarranty provision in the balance sheet of Island Co as at 30 November 2007. (5 marks)

点击查看答案
第6题

You are an audit manager responsible for providing hot reviews on selected audit clients within your firm of CharteredCertified Accountants. You are currently reviewing the audit working papers for Pulp Co, a long standing audit client,for the year ended 31 January 2008. The draft statement of financial position (balance sheet) of Pulp Co shows totalassets of $12 million (2007 – $11·5 million).The audit senior has made the following comment in a summary ofissues for your review:‘Pulp Co’s statement of financial position (balance sheet) shows a receivable classified as a current asset with a valueof $25,000. The only audit evidence we have requested and obtained is a management representation stating thefollowing:(1) that the amount is owed to Pulp Co from Jarvis Co,(2) that Jarvis Co is controlled by Pulp Co’s chairman, Peter Sheffield, and(3) that the balance is likely to be received six months after Pulp Co’s year end.The receivable was also outstanding at the last year end when an identical management representation was provided,and our working papers noted that because the balance was immaterial no further work was considered necessary.No disclosure has been made in the financial statements regarding the balance. Jarvis Co is not audited by our firmand we have verified that Pulp Co does not own any shares in Jarvis Co.’Required:(b) In relation to the receivable recognised on the statement of financial position (balance sheet) of Pulp Co asat 31 January 2008:(i) Comment on the matters you should consider. (5 marks)

点击查看答案
第7题

The main liability on a bank balance sheet is ______.A．depositsB．capital and reservesC．loans and overdraftsD．cash

点击查看答案

5 Which of the following events after the balance sheet date would normally qualify as adjusting events accordingto IAS 10 Events after the balance sheet date?1 The bankruptcy of a credit customer with a balance outstanding at the balance sheet date.2 A d

题目

更多“5 Which of the following events after the balance sheet date would normally qualify as adjusting events accordingto IAS 10 Events after the balance sheet date?1 The bankruptcy of a credit customer with a balance outstanding at the balance sheet date.2 A d”相关问题

第1题

第2题

第3题

第4题

第5题

第6题

第7题

相关内容