15 A trader who fixes her prices by adding 50% to cost actually achieved a mark-up of 45%.Which of the following factors could account for the shortfall?1 Sales were lower than expected.2 The opening inventories had been overstated.3 The closing inventories of the business were higher than the opening inventories.4 Goods taken from inventories by the proprietor were recorded by debiting drawings and crediting purchases withthe cost of the goods.A All four factorsB 1, 2 and 4 onlyC 2 onlyD 3 and 4 only
15 A trader who fixes her prices by adding 50% to cost actually achieved a mark-up of 45%.
Which of the following factors could account for the shortfall?
1 Sales were lower than expected.
2 The opening inventories had been overstated.
3 The closing inventories of the business were higher than the opening inventories.
4 Goods taken from inventories by the proprietor were recorded by debiting drawings and crediting purchases with
the cost of the goods.
A All four factors
B 1, 2 and 4 only
C 2 only
D 3 and 4 only
相关考题：
Which of the following is considered a direct cost for producing a widget?A . The cost of the materials used to produce a widget.B . The labor costs of the workers who actually produced the widget.C . The rent for the building in which the widget was manufacturedD . The salary of senior management and the project sponsorE . A and B only
35 Which of the following is considered a direct cost for producing a widget?A. The cost of the materials used to produce a widget.B. The labor costs of the workers who actually produced the widget.C. The rent for the building in which the widget was manufacturedD. The salary of senior management and the project sponsorE. A and B only
5 Which of the following factors could cause a company’s gross profit percentage on sales to fall below the expectedlevel?1 Understatement of closing inventories.2 The incorrect inclusion in purchases of invoices relating to goods supplied in the following period.3 The inclusion in sales of the proceeds of sale of non-current assets.4 Increased cost of carriage charges borne by the company on goods sent to customers.A 3 and 4B 2 and 4C 1 and 2D 1 and 3
14 Alpha buys goods from Beta. At 30 June 2005 Beta’s account in Alpha’s records showed $5,700 owing to Beta.Beta submitted a statement to Alpha as at the same date showing a balance due of $5,200.Which of the following could account fully for the difference?A Alpha has sent a cheque to Beta for $500 which has not yet been received by Beta.B The credit side of Beta’s account in Alpha’s records has been undercast by $500.C An invoice for $250 from Beta has been treated in Alpha’s records as if it had been a credit note.D Beta has issued a credit note for $500 to Alpha which Alpha has not yet received.
20 IAS 2 Inventories defines the extent to which overheads are included in the cost of inventories of finished goods.Which of the following statements about the IAS 2 requirements in this area are correct?1 Finished goods inventories may be valued on the basis of labour and materials cost only, without including overheads.2 Carriage inwards, but not carriage outwards, should be included in overheads when valuing inventories of finished goods.3 Factory management costs should be included in fixed overheads allocated to inventories of finished goods.A All three statements are correctB 1 and 2 onlyC 1 and 3 onlyD 2 and 3 only
2 The draft financial statements of Choctaw, a limited liability company, for the year ended 31 December 2004 showeda profit of $86,400. The trial balance did not balance, and a suspense account with a credit balance of $3,310 wasincluded in the balance sheet.In subsequent checking the following errors were found:(a) Depreciation of motor vehicles at 25 per cent was calculated for the year ended 31 December 2004 on thereducing balance basis, and should have been calculated on the straight-line basis at 25 per cent.Relevant figures:Cost of motor vehicles $120,000, net book value at 1 January 2004, $88,000(b) Rent received from subletting part of the office accommodation $1,200 had been put into the petty cash box.No receivable balance had been recognised when the rent fell due and no entries had been made in the pettycash book or elsewhere for it. The petty cash float in the trial balance is the amount according to the records,which is $1,200 less than the actual balance in the box.(c) Bad debts totalling $8,400 are to be written off.(d) The opening accrual on the motor repairs account of $3,400, representing repair bills due but not paid at31 December 2003, had not been brought down at 1 January 2004.(e) The cash discount totals for December 2004 had not been posted to the discount accounts in the nominal ledger.The figures were:$Discount allowed 380Discount received 290After the necessary entries, the suspense account balanced.Required:Prepare journal entries, with narratives, to correct the errors found, and prepare a statement showing thenecessary adjustments to the profit.(10 marks)
The following information is relevant for questions 9 and 10A company’s draft financial statements for 2005 showed a profit of $630,000. However, the trial balance did not agree,and a suspense account appeared in the company’s draft balance sheet.Subsequent checking revealed the following errors:(1) The cost of an item of plant $48,000 had been entered in the cash book and in the plant account as $4,800.Depreciation at the rate of 10% per year ($480) had been charged.(2) Bank charges of $440 appeared in the bank statement in December 2005 but had not been entered in thecompany’s records.(3) One of the directors of the company paid $800 due to a supplier in the company’s payables ledger by a personalcheque. The bookkeeper recorded a debit in the supplier’s ledger account but did not complete the double entryfor the transaction. (The company does not maintain a payables ledger control account).(4) The payments side of the cash book had been understated by $10,000.9 Which of the above items would require an entry to the suspense account in correcting them?A All four itemsB 3 and 4 onlyC 2 and 3 onlyD 1, 2 and 4 only
2 The draft financial statements of Rampion, a limited liability company, for the year ended 31 December 2005included the following figures:$Profit 684,000Closing inventory 116,800Trade receivables 248,000Allowance for receivables 10,000No adjustments have yet been made for the following matters:(1) The company’s inventory count was carried out on 3 January 2006 leading to the figure shown above. Salesbetween the close of business on 31 December 2005 and the inventory count totalled $36,000. There were nodeliveries from suppliers in that period. The company fixes selling prices to produce a 40% gross profit on sales.The $36,000 sales were included in the sales records in January 2006.(2) $10,000 of goods supplied on sale or return terms in December 2005 have been included as sales andreceivables. They had cost $6,000. On 10 January 2006 the customer returned the goods in good condition.(3) Goods included in inventory at cost $18,000 were sold in January 2006 for $13,500. Selling expenses were$500.(4) $8,000 of trade receivables are to be written off.(5) The allowance for receivables is to be adjusted to the equivalent of 5% of the trade receivables after allowing forthe above matters, based on past experience.Required:(a) Prepare a statement showing the effect of the adjustments on the company’s net profit for the year ended31 December 2005. (5 marks)
（50）These processes of particle creation and destruction had been predicted from Dirac’s theory before they were actually discovered in nature, and since then they have been observed millions of times.
Before relativistic particle physics, the constituents of matter had always been considered as being either elementary units which were indestructible and unchangeable, or as composite objects which could be broken up into their constituent parts;
Mrs. Robson had lived in the house ______.A. since she had sold her flatB. for less than a decadeC . since she had been bornD. for more than ten years
Before deciding which form. of transport to use, a()will take into account the factors of cost, speed and safety. A、consignorB、consigneeC、shipperD、shipowner
There are many sales this season，during which stores will lower their______prices.A．normalB．generalC．ordinaryD．usual
Section B – TWO questions ONLY to be attemptedPerkin manufactures electronic components for export worldwide, from factories in Ceeland, for use in smartphones and hand held gaming devices. These two markets are supplied with similar components by two divisions, Phones Division (P) and Gaming Division (G). Each division has its own selling, purchasing, IT and research and development functions, but separate IT systems. Some manufacturing facilities, however, are shared between the two divisions.Perkin’s corporate objective is to maximise shareholder wealth through innovation and continuous technological improvement in its products. The manufacturers of smartphones and gaming devices, who use Perkin’s components, update their products frequently and constantly compete with each other to launch models which are technically superior.Perkin has a well-established incremental budgeting process. Divisional managers forecast sales volumes and costs months in advance of the budget year. These divisional budgets are then scrutinised by the main board, and revised significantly by them in line with targets they have set for the business. The finalised budgets are often approved after the start of the accounting year. Under pressure to deliver consistent returns to institutional shareholders, the board does not tolerate failure by either division to achieve the planned net profit for the year once the budget is approved. Last year’s results were poor compared to the annual budget. Divisional managers, who are appraised on the financial performance of their own division, have complained about the length of time that the budgeting process takes and that the performance of their divisions could have been better but was constrained by the budgets which were set for them.In P Division, managers had failed to anticipate the high popularity of a new smartphone model incorporating a large screen designed for playing games, and had not made the necessary technical modifications to the division’s own components. This was due to the high costs of doing so, which had not been budgeted for. Based on the original sales forecast, P Division had already committed to manufacturing large quantities of the existing version of the component and so had to heavily discount these in order to achieve the planned sales volumes.A critical material in the manufacture of Perkin’s products is silver, which is a commodity which changes materially in price according to worldwide supply and demand. During the year supplies of silver were reduced significantly for a short period of time and G Division paid high prices to ensure continued supply. Managers of G Division were unaware that P Division held large inventories of silver which they had purchased when the price was much lower.Initially, G Division accurately forecasted demand for its components based on the previous years’ sales volumes plus the historic annual growth rate of 5%. However, overall sales volumes were much lower than budgeted. This was due to a fire at the factory of their main customer, which was then closed for part of the year. Reacting to this news, managers at G Division took action to reduce costs, including closing one of the three RD facilities in the division.However, when the customer’s factory reopened, G Division was unwilling to recruit extra staff to cope with increased demand; nor would P Division re-allocate shared manufacturing facilities to them, in case demand increased for its own products later in the year. As a result, Perkin lost the prestigious preferred supplier status from their main customer who was unhappy with G Division’s failure to effectively respond to the additional demand. The customer had been forced to purchase a more expensive, though technically superior, component from an alternative manufacturer.The institutional shareholders’ representative, recently appointed to the board, has asked you as a performance management expert for your advice. ‘We need to know whether Perkin’s budgeting process is appropriate for the business, and how this contributed to last year’s poor performance’, she said, ‘and more importantly, how do we need to change the process to prevent this happening in the future, such as a move to beyond budgeting.’Required:(a) Evaluate the weaknesses in Perkin’s current budgeting system and whether it is suitable for the environment in which Perkin operates. (13 marks)(b) Evaluate the impact on Perkin of moving to beyond budgeting. (12 marks)
A new scheme for getting children to and from school is being started by the education authorities in part of Eastern England． This could end the worries of many parents fearful for their children's safety on the roads．Until now the Country Council has only been prepared to provide bus services for children living more than three miles from their school, or sometimes less if special reasons existed． Now it has been decided that if a group of parents ask for help in organizing transport they will be prepared to go ahead, provided the arrangement will not lose money and that children taking part will be attending their nearest school．The new scheme is to be tried out this term for children living at Milton who attend Impington school． The children live just within the three-mile limit and the Council has said in the past it will not undertake to provide free transport to the school． But now they have agreed to organize a bus service from Milton to Impington and back, a plan which has the support of the school's headmaster．Between 50 and 60 parents have said they would like their children to take part in． Final calculations have still to be carried out, but a council official has said the cost of parents should be less than $6．50 a tenn．They have been able to arrange the service at a low cost because there is already an agreement with the bus company for a bus to take children who live further away to Impington． The same bus would now just make an extra journey to pick up the Milton children． The official said they would get in touch with other groups of parents who in the past had asked if transport could be provided for their children, to see if they would like to take part in the new scheme．The children the Council ran buses for in the past were those__________．A.whose parents were worried about themB.who would have had to walk otherwiseC.who could not walkD.who had to travel a long way
Questions 95-98 refer to the following advertisement.As the number of new infections and deaths rise in the Ebola outbreak, fear and suspicion in rising, too, making a more difficult for health care workers to get the sick into hospitals, even as increasingly angry crowds are calling for more government action.The growing chaos caused by this current Ebola outbreak, which is already the worst on record with more than 1,300 infected and 700 dead in three countries in West Africa, was witnessed in a low income community in the Bushrod Island area of Monrovia.The community members had called the Health Ministry to come pick up the body of a man who had been dead in his home since Thursday. Late Friday or early Saturday, a woman had died in the same neighborhood, and she was also still in her home. Both were suspected Ebola deaths, and the protesters were saying that the government should remove them.A man in the crowd said that since they called the government on Thursday, workers had come to examine the scene, but they had not returned. He said that if the government did not respond to the request of community members to remove the bodies, there would be serious consequences.Which of the following is true about the current Ebola outbreak?A. More than 700 people were infected in this outbreak.B. Ebola proved to be the worst infectious disease in history.C. More than 700 people died in this outbreak.D. It was limited to the Bushrod Island area of Monrovia.
On an annual （ ）, house prices in Scotland are now only 1% lower than they were a year ago, but they are 8% down in Northern Ireland.A.planB.objectC.foundD.basis
共用题干Helen and MartinWith a thoughtful sigh,Helen turned away from the window and walked back to her favourite armchair.______(1) her brother never arrive?For a brief moment,she wondered if she really cared that much.Over the years Helen had given______(2) waiting for Martin to take an interest in her.Her feelings for him had gradually______(3) until now,as she sat waiting for him,she experienced no more than a sister's ______(4) to see what had ______(5) of her brother.Almost without______(6) ,Martin had lost his job with a busy publishing company after spending the last eight years in New York as a key figure in the US office.Somehow the two of them hadn't______(7) to keep in touch and,left alone,Helen had slowly found her______(8) in her own judgment growing.______(9) the wishes of her parents,she had left university halfway______(10) her course and now,to the astonishment of the whole family,she was______(11) a fast-growing reputation in the pages of respected art magazines and was actually earning enough to live______(12) from her paintings.Of course,she______(13) no pleasure in Martin's sudden misfortune,but she couldn't______(14) looking forward to her brother's arrival with______(15) satisfaction at what she had achieved.11._________A:gainingB:reachingC:startingD:opening
This year's sales in many companies were lower than （）.A、lat year'sB、which of last year'sC、last yearD、in last year
The economy of the United states after 1952 was the econnomy of a well-fed,almost fully employed people. Despit occasional alarms, the country escaped any postwar depression and lived in a state of boom. A n economic survey of the year 1955, a typical year of the 1950’s, may be typical as illustrating the rapid economic growth of the decade. The national output was value at 10 percent above that of 1954 (1955 output was estimated at 392 billion dollars). The production of manufacturers was about 40 percent more than it had averaged in the years immediately following World War 2. The country’s business spent about 30billion dollars for new factories and machinery. National income available for spending was almost a third greater than it had been it had been in 1950. Consumers spent about 256 billion dollars; that is about 700 million dollars a day ,or about twenty-five million dollars every hour , all round the clock. Sixty-five million people held jobs and only a little more than two million wanted jobs but could not find them . Only agriculture complained that it was not sharing in the room. To some observers this was an ominous echo of the mid-1920’s . As farmer’s shre of their products declined , marketing costs rose. But there were , among the observers of the national economy, a few who were not as confident as the majority . Those few seemed to fear that the boom could not last and would eventually lead to the oppsite-depression.Which of the following were LEAST satisfied with the national economy in the 1950’s?（）A、EconomistsB、FrmaersC、PoliticiansD、Steelworkers
问答题The cost of hiring a private rail carriage is shared equally by all the passengers who paid an exact number of pounds which was less than ￡100 each. The carriage has seats for 50 passengers and the total bill amounts to ￡1887. How many seats were not occupied?
单选题They achieved more than they had ever dreamed, lending a magic to their family story that no tale or ordinary life could possibly rival.AconfirmBachieveCmatchDexaggerate
问答题Free trade is an economic policy under which the government does not interfere with trade. No tariffs are applied to imports or exports, and people are allowed to trade goods and services as they please. Supply and demand dictates the prices for which goods and services sell and are the only factors that determine how resources are allocated in society. Under a free trade system, there are no trade barriers. There is free access to markets and market information, and there are no government-imposed monopolies. The following are opinions from both sides. Read the excerpt carefully and write your response in about 300 words, in which you should: 1. summarize briefly the opinions from both sides, and then 2. give your comment. Marks will be awarded for content relevance, content sufficiency, organization and language quality. Failure to follow the above instructions may result in a loss of marks. Those who support free trade believe that it allows companies to come by raw materials and lower prices, which, in turn, results in lower prices on the open market. Supporters also believe that the levels of employment in a nation are determined by the monetary policy of that nation and not the trade policy. Additionally, when people must compete for a profit, they produce better products and are more motivated to increase their education and knowledge because these increases come with personal benefits. On the contrary, many believe that the government should dictate prices and impose more taxes on imports and exports. Critics often believe that many outsourced jobs are a result of free trade practices; and regulating trade could keep companies from finding cheaper labor and lower cost overseas. There are also concerns with the social burden of limited job security if companies put too much effort into looking for cheaper labor and lower cost. Critics feel that this results in a more worried, cautious public that is less likely to spend and invest in the economy. This is certainly not an advantage when the world economy is already in recession.
问答题Practice 6 With a high degree of specialization, the frontiers of knowledge are steadily being pushed back more rapidly than ever before. But this has not been achieved without considerable cost. The scientist, who outside his own particular subject is little more than an idiot, is a modern phenomenon; as is the man of letters who is barely aware of the tremendous strides that have been made in technology. Similarly, specialization has indirectly affected quite ordinary people in every walk of life. Many activities which were once pursued for their own sakes are often given up in despair: they require techniques, the experts tell us, which take a life-time to master. Why learn to play the piano, when you can listen to the world’s greatest pianists in your own drawing-room?
单选题This year's sales in many companies were lower than （）.Alat year'sBwhich of last year'sClast yearDin last year
单选题When Brad offered his old wooden desk at a garage sale, no one bought it, even though he offered it for only $10. When he offered it at the local auction house, however, someone bought it for $850. Which of the following, if true, best explains why Brad was able to sell the desk for a high price at the auction while he could not sell it for a much lower price at the garage sale?ABrad advertised that the proceeds of the garage sale would benefit a local charity, while he made no such claims for the proceeds from the auction.BOne of the legs of the desk was shorter than the other three, producing an unbalanced writing surface.CThe auction house specializes in selling antique furniture, which is generally valued more highly than the discarded furniture sold at garage sales.DBrad insisted that anyone who bought the desk had to use it as an actual workspace.EProspective buyers at auctions are often more interested in the auction process than in the items up for bid.
单选题The vehicle sales were greatly cut down becauseAthe car manufacturers were concerned about the American economy.Bthe market’s performance was found to be the worst in 50 years.Cthe prices of fuel rose to a level which was last seen in the 1950s.Dthe fuel prices were so high and the economy was facing a depression.