Social Science Questions
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1. (0,3 marks) Which of the following statements is true ? a. Items in the final Profit and Loss Account may have future effect b. The purpose of Subsidiary Journals is to deflect volume from the General Journal c. Journal Entries are not restricted to one Debit and one Credit d. Subsidiary Ledgers form part of the General Accounting system
12. (0,5 marks) An item of stock was valued at 5.000 at 31.12.N. A provision for slow-moving stock of 10% was required at 31.12.N. At 31.12.N+1 a further provision of 20% of the net value was required. At 31.12.N+2 and 31.12.N+3 further provisions of respectively 30% and 40% of the net value were required. What was the net value of this stock item at 31.12.N+3 ? a. 0 b. 1.250 c. 1.512 d. 2.500
9. (0,4 marks) Entity Z has a profit before tax of 500. Income tax rate is 20%. For income tax purposes, disallowed expenses total 40. Tax losses brought forward amount to 200 of which half only can be used for the present tax calculation. What is the income tax charge ? a. 52 b. 72 c. 88 d. 148
7. (0,3 marks) In Entity K, a large company, it is discovered just before the annual accounts for year N are finalised that no prepayment adjustment has been made for the rent of a warehouse covering the period 1.3.N to 28.2.N+1. Which of the following makes most sense ? a. The accounts must be adjusted since an error has been made b. The amount involved must surely be insignificant so it is not necessary to revise the accounts at this late stage c. The accounts must be adjusted since the charge for rent in the Profit and Loss account is overstated d. The accounts must be adjusted since otherwise a prepayment asset will be missing from the Balance Sheet
1. (0,2 marks) Which of the following statements is true ? a. A Journal Entry must consist of one Debit and one Credit b. A Journal Entry must consist of an equal number of Debits and Credits c. A Journal entry may consist of one Debit and seventeen Credits d. The total number of Debits and Credits in a Journal Entry is always an even number (2,4,6...)
11. (0,5 marks) Entity Z has a profit before tax of 4.000. Income tax rate is 30%. For income tax purposes, disallowed expenses total 400. Tax losses brought forward amount to 1.800 of which half only can be used for the present tax calculation. What is the income tax charge ? a. 810 b. 1.050 c. 1.350 d. 1.590
4. (0,2 marks) Which of the following Journal Entries will result in a credit to the Profit and Loss Account ? a. DR Bank 10.000 CR Loan 10.000 b. DR Legal Expenses 5.000 CR Payables 5.000 c. DR Provision 5.000 CR Write-back from Provision 5.000 d. DR Depreciation 10.000 CR Accumulated Depreciation 10.000
3. (0,3 marks) Which of the following is the principal purpose of Reconciliation ? a. To look for fraud b. To look for errors c. To perform procedures required by management d. To check that data expected to be valid is supported by o
6. (0,2 marks) Which of the following best describes the purpose of yearend adjustments ? a. To correct errors which had not been spotted during the year b. To record Journal entries which had been forgotten during the year c. To ensure that the Profit and Loss Account is as precise as possible d. To ensure that the Balance Sheet is as accurate as possible
7. (0,3 marks) Z bought cars each costing 10.000 on the following dates : 1.1.N, 1.3.N+3, 1.6.N+6, 1.9.N+9.The first car was sold on 1.5.N+5. There were no other disposals of cars. There are no other cars. What was the General Ledger balance for the Car Account on 1.8.N+8 ? a. 10.000 b. 20.000 c. 30.000 d. 40.000
4. (0,3 marks) Which of the following statements is true ? a. The Subsidiary Receivables Journal provides an analysis of the Receivables balance in the General Ledger b. The Subsidiary Receivables Ledger is summarised monthly in the form of a Journal Entry recorded in the General Journal c. The Subsidiary Receivables Ledger should be reconciled regularly to the Receivables account in the General Ledger d. The Subsidiary Receivables Journal should be reconciled regularly to the Sales account in the General Ledger account
2. (0,2 marks) Which of the following Journal Entries has no effect on the Profit and Loss Account ? a. DR Rent 1.000 CR Salaries 1.000 b. DR Receivables 2.000 CR Sales 2.000 c. DR Provision 3.000 CR Write-back from Provision 3.000 d. DR Depreciation 5.000 CR Accumulated Depreciation 5.000
A l'issu d'un cadrage d'étude, on établit un.......
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