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Q: 1
Life membership fees payable to a club or society are usually dealt with by:
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Q: 2
Which of the following is not a book of prime entry?
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Q: 3
The Accounting Standards Board is responsible for:
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Q: 4
Company P are looking to create a balance sheet. Which of the following should be included in this document?
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Q: 5
A non-current asset was purchased for £240000 at the beginning of Year 1, with an expected life of 7 years and a residual value of £50000. It was depreciated by 20% per annum using the reducing balance method. At the beginning of Year 4 it was sold for £100000. The result of this was:
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Q: 6
Refer to the Exhibit. CIMA CIMAPRA17 BA3 1 question Transactions are often categorized between capital and revenue Which of the following combinations are correct?
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Q: 7
The sales ledger control account shows a balance of £236,725, whilst the individual customer balances total £231,472. One possible explanation for the difference between the two may bE.
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Q: 8
Which of the following does not necessarily need to be true for something to be treated as an asset in an entity's statement of financial position?
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Q: 9
Refer to the Exhibit. CIMA CIMAPRA17 BA3 1 question A business banks its takings for the week. The bank account at the start of the week shows an overdraft Which of the following is the dual effect?
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Q: 10
A company that is VAT-registered has sales for the period of $245,000 (excluding VAT) and purchases for the period of $123,375 (including VAT). The opening balance on the VAT account was $18,000 credit. The VAT rate is 17.5%. What will be the closing balance on the VAT account at the end of the period?
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