Recording Financial Transactions Specimen Exam applicable from June 2014 Time allowed: 2 hours ALL 50 questions are compulsory and MUST be attempted. Do NOT open this paper until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants Paper FA1 FOUNDATIONS IN ACCOUNTANCY ALL 50 questions are compulsory and MUST be attempted Please use the space provided on the inside cover of the Candidate Answer Booklet
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How would you feel if you were judged only by your father’s accomplishments? This was once the case for Dale Earnhardt‚ Jr.‚ son of legendary stock car driver Dale Earnhardt. When Dale‚ Jr. had debuted in NASCAR as a third-generation driver‚ many people thought that he was getting special treatment because of his father. However‚ after the death of Dale Earnhardt‚ Sr.‚ Junior began to make a name for himself. He had been interested in racing since he was a child and would one day become a spiritual
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NASCAR history can trace its roots back to 1794. That’s a century before the invention of the automobile‚ but it was the year of the Whiskey Rebellion. This was a protest of a federal tax on whiskey by frontier farmers. Instead of being subject to the tax‚ many frontiersmen built secret stills‚ manufactured‚ and delivered their product in secret. Most people do not know that this is the true origin of NASCAR history. During the Prohibition era of the 1920’s and early 30’s‚ the undercover business
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Chapter 14 Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions Solution of Practising Problems 14-4 BestSellers.com could integrate its online ordering system with its inventory system so that a book shipment is made only after the customer’s credit card company approves the customer’s purchase. Because credit card issuers often transfer funds electronically almost immediately after a sale‚ BestSellers.com could also set up their system to
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ASSEMBLE MADE FOR YOU Inspecting assembled products for appearance and taste : * For hot products‚ make sure they have been in the Heated Landing Zone(HLZ) for 1 minutes. * Unwrap or open the product’s wrap‚ check to see if the product has the following characteristics : -products look appetizing. - it is neatly and correctly dressed‚ with tender loving care. - it is not crushed or abused. -it does not have condiments on wrap‚ box or bowl. Inspecting assembled products for temperature
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Petty Officer Banks was an active member of the First Class Petty Officer Association‚ volunteering 13 off-duty hours to Friendship Day and Yokosuka Open Base events‚ strengthening host nation relations. - As a representative of the Training Department‚ he was directly responsible for the registration of one Sailor in ADAMS for Leaders‚ five Sailors in ADAMS for Supervisors‚ one Sailor in the Command Equal Opportunity Program and six Sailors in the Command Training Team. He managed and prioritized
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It feels strange running into something that everyone else is running out of‚ it’s my second time today. I can’t explain the thrill of running into the blaze‚ for some it’s just a career but for me it’s my passion. As I reached the top of the burning stairs I looked out the window to see Don with his back against the truck again‚ he was just standing there watching whilst men are in that house risking their lives to save others. It angers me so much to know that his name will be on the front page
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Throughout “Wealth of Nations‚” an ongoing theme portrayed is economic growth. “The annual labour of every nation is the fund which originally supplies it with all the necessaries and conveniences of life which it annually consumes‚ and which consist always either in the immediate produce of that labour or in what is purchased with that produce from other nations.” (Smith‚WN‚159) For Smith‚ this quote backs up his idea of economic growth and that it stems from the division of labor‚ because in his
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FULL SENTENCE OUTLINE Introduction I. AG- Picture Going 110 in this (SHOW PICTURE) II. RtoA- I know it’s a pick-up truck ‚ but think about being behind the wheel‚ think about all the power pulling them 26s III. THE-My passion for driving fast has gotten me into a lot of trouble with police IV. Pre- First‚ I will discuss how I fell in love with driving fast and the reason I love to do it‚ then I will talk about how it has gotten me into alot of trouble Transition: I know most if not everyone
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CHAPTER 8 Current asset management SOLUTIONS TO PROBLEMS 8-2* (a) Recommendation (i) 0.105 × $800 000 × 1/12 = $7‚000 < $20‚000 No (ii) 0.105 × $800‚000 × 2/12 = $14‚000 < $20‚000 No (iii) 0.105 × $800‚000 ×3/12 = $21‚000 > $20‚000 Yes (iv) 0.105 × $800‚000 × 6/12 = $42‚000 > $20‚000 Yes (v) 0.105 × $800‚000 ×12/12 = $84‚000 > $20‚000 Yes (b) Let y be the break-even yield. With $800‚000 to invest for two months and a two-month holding period‚ we have:
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