下列关于税务代理关系确立的表述，不正确的是( )。 A. 税务代理关系的确立，应当以双方自愿委托和自愿受理为前提 B. 税务师承办业务必须由所在的税务师事务所统一受理 C. 税务代理关系可以以书面形式或口头形式确立 D. 委托代理协议书经委托方、受托方签章后，正式生效

The closing inventory at cost of a company at 31 January 20X3 amounted to $284,700.The following items were included at cost in the total:

1.400 coats, which had cost $80 each and normally sold for $150 each. Owing to adefect in manufacture, they were all sold after the reporting date at 50% of their normal price. Selling expenses amounted to 5% of the proceeds.

2.800 skirts, which had cost $20 each. These too were found to be defective. Remedial work in February 20X3 cost $5 per skirt, and selling expenses for the batch totalled $800. They were sold for $28 each.

What should the inventory value be according to IAS 2 Inventories after considering the above items?

Baxter Co purchased an asset for $100,000 on 1.1.X1. It had an estimated useful life of 5 years and it was depreciated using the straight line method. On 1.1.X3 Baxter Co revised the remaining estimated useful life to 8 years. What is the carrying amount of the asset at 31.12.X3?

A. $40,000

B. $52,500

C. $50,000

D. $62,500

What is the purpose of amortisation?

A. To allocate the cost of an intangible non-current asset over its useful life

B. To ensure that funds are available for the eventual purchase of a replacement non-current asset

C. To reduce the cost of an intangible non-current asset in the statement of financial position to its estimated market value

D. To account for the risk associated with intangible assets

Which of the following statements about IAS 20 Accounting for Government Grants and Disclosure of Government Assistance are true?

(i) A government grant related to the purchase of an asset must be deducted from the carrying amount of the asset in the statement of financial position

(ii) A government grant related to the purchase of an asset should be recognised in profit or loss over the life of the asset

(iii) Free marketing advice provided by a government department is excluded from the definition of government grants

(iv) Any required repayment of a government grant received in an earlier reporting period is treated as prior period adjustment

A (i) and (ii)

B (ii) and (iii)

C (ii) and (iv)

D (iii) and (iv)

In the context of improving organisational communication, which of the following would be helpful measures in addressing the problem of information overload on managers?

A Using email

B Introducing reporting by exception

C Holding regular staff meetings

D Speed reading training for managers (2 marks)

Which of the following functions are fulfilled by a goods received note (GRN)?

(i) Provides information to update the inventory records on receipt of goods

(ii) Provides information to check the quantity on the supplier's invoice

(iii) Provides information to check the price on the supplier's invoice

A. (i) and (ii) only

B. (i) and (iii) only

C. (ii) and (iii) only

D. (i) only

A spreadsheet is unlikely to be used for which of the following tasks?

A.Cash flow forecasting

B. Monthly sales analysis by market

C. Writing a memo

D. Calculation of depreciation

Which of the following are common applications of spreadsheets used by management accountants?

(i) Variance analysis

(ii) Cash flow budgeting and forecasting

(iii) Preparation of financial accounts

A. (i) and (ii) only

B. (i) and (iii) only

C. (ii) and (iii) only

D. (i), (ii) and (iii)