FIN005 Financial Accounting Comprehensive Revision Exercises Question 1 Tiffany Company carries on business as a retail trader. The trial balance of business as at 31 December 2011 was as follows: Dr Cr $ $ Capital 204‚800 Merchandise inventory 25‚680 Salaries and wages 46‚160 Motor expenses 3‚720 Electricity
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COMPREHENSIVE EXAMINATION A PART 1 (Chapters 1-6) Problem A-I — Multiple Choice. Choose the best answer for each of the following questions and enter the identifying letter in the space provided. 1. How does failure to record accrued revenue distort the financial reports? a. It understates revenue‚ net income‚ and current assets. b. It understates net income‚ stockholders’ equity‚ and current liabilities. c. It overstates revenue‚ stockholders’ equity‚ and current liabilities.
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reports . 11. The system is protected with data access control. It can restrict the unauthorized users from having full access to the database by l imiting their access to certain management or confidential information. 12. SiNetSy supports using discounts‚ shipping and two types of taxes in the invoices and orders. 13 System integrated with online store. You can see our online demo at http://www.executivpro.com 1.2.
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campaigns for the Al Fresco name yet. • Retailers are reluctant to give a relatively unknown brand much shelf space. • Kayem’s profit margins have been eroding recently because of supermarkets gaining the power to demand greater discounts and promotional allowances. • Kayem has a relatively weak bargaining position as a brand with retailers and shop owners. OPPORTUNITIES • 80% of Kayems sales volumes have been at deli counters. This leaves opportunities to expand the brand’s presence
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Checklist for this Subject Test 1. Answer Books: No 2. Standard MC Answer Sheets: No 3. Calculator: Yes 4. Paper Dictionary: No 5. Open Book: No --------------------------------------- QUESTIONS START FROM HERE ------------------------------------- Question 1 (a) What Grace suggested doesn’t seem to be ethical. First of all the transfer of her personal property to the Company will simply overstate the Company’s asset. Secondly‚ when the expenses were hidden off
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for substantially reducing costs without greatly diminishing the quality of our service. And here are some methods about cutting cost without diminishing the quality of service: outsourcing‚ cut the extra bonuses‚ cut the Medicare‚ cut long tip allowance‚ slow down the promotion and the voluntary administration. Certain airlines have responded to the burden of wages and employee benefits by contracting out‚ or outsourcing services. The first and the most useful method is outsourcing. For example:
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Jump to Navigation Frame Your location: Assessments › View All Submissions › View Attempt View Attempt 1 of 1 Title: | Ch01 Quiz | Started: | August 21‚ 2012 9:12 AM | Submitted: | August 21‚ 2012 9:22 AM | Time spent: | 00:09:30 | Total score: | 10/10 = 100%Total score adjusted by 0.0Maximum possible score: 10 | 1. | ch01001 | | Financial accounting information is: | | | Student Response | Value | Correct Answer | Feedback | A. | Designed to assist investors and creditors
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keep the surplus promise‚ Wayne Swan had to break other promises. The Government has announced it will no longer proceed with the following measures that were previously announced as policy: • 1% company tax cut to 29%. Saves $4.6 Billion • 50% discount for first $1‚000 of interest income. Saves $795 Million • Standard Deduction for Work Related Expenses. Saves $2 Billion The big numbers that have helped the government raise surplus are stated in the following: For high income earners‚ individuals
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FORMULA SHEET – for student reference only Perpetuity: The value of a perpetuity of $RM1 per year is: Equivalent Annual Cost: If an asset has a life of ‘t’ years‚ the equivalent annual cost is: Annuity: The value of an annuity of $RM1 per period for t years (t-year annuity factor) is: Measures of Risk: Variance of returns = σ2 = expected value of Standard deviation of returns‚ σ = Covariance between returns of stocks
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SONY PRODUCT SONY has produced a lot of various varieties of portable audio whose main target are the youth of the new generation. The sub-categories of these portable audio produced by SONY are: • Walkman mp3 series • CD Walkman series • CD/Radio/Cassette player • Radio • Voice recorder • Audio Accessories PROMOTION The major elements of promotion mix include advertising‚ personal selling‚ sales promotion‚ direct marketing‚ and publicity. Advertising is any paid form of non-personal
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