10 Which of the following costs should be included in valuing inventories of finished goods held by a manufacturingcompany, according to IAS2 Inventories?1 Carriage inwards.2 Carriage outwards.3 Depreciation of factory plant.4 Accounts department costs re

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 correct

B 1 and 2 only

C 1 and 3 only

D 2 and 3 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

INTERNATIONAL TRANSPORTATION Transportation plays an important part in international business because goods produced have to be delivered to the buyers abroad, and the delivery of goods is to be made possible by transportayion services. Goods are carried by several means of transportation - on road or rail, by sea or air.And in recent years,combined transportation which is a road-sea-rail carriage has appeared. With the expansion of international trade, the container service has become popular. The use of containers provides a highly effective form. of transportation by road, rail and sea. Basically, about 98% of world trade is carried out by sea transportation.Besides transportation by sea, road, or rail, nowadays in order to speed up delivery, carriage by air has also become popular.

1. Transportation plays an important part in international business because goods produced have to be sent to everywhere in the world.()

2. Usually goods are carried by many ways of transportation.()

3. In recent years, combined transportation which is a road-sea-rail carriage appeared.()

4. With the expansion of international trade, the container service has become popular.()

5. The use of containers gives a very helpful method of transportation by air.()

A. accounts receivable

B. raw materials

C. work-in-progress goods

________ means any person by whom or in whose name or on whose behalf a contract of carriage of goods by sea has been concluded with a carrier， or any person by whom or in whose name or on whose behalf the goods are actually delivered to the carrier in relation to the contract of carriage of goods by sea.

A.Shipper

B.Charterer

C.Shipowner

D.Carrier

______ include goods，wares，merchandise，and articles of every kind whatsoever except live animals and cargo which by the contract of carriage is stated as being carried on deck and is so carried．

A.Goods

B.Things

C.Items

D.Articles

All the holds and other parts of the ship in which cargo is to be stowed should be ______ for the carriage.

A.comfortable

B.suitable

C.stable

D.Favorable

9 Which of the following items must be disclosed in a company’s published financial statements (including notes)

if material, according to IAS1 Presentation of financial statements?

1 Finance costs.

2 Staff costs.

3 Depreciation and amortisation expense.

4 Movements on share capital.

A 1 and 3 only

B 1, 2 and 4 only

C 2, 3 and 4 only

D All four items

2 Which of the following are correct?

1. The balance sheet value of inventory should be as close as possible to net realisable value.

2. The valuation of finished goods inventory must include production overheads.

3. Production overheads included in valuing inventory should be calculated by reference to the company’s normal

level of production during the period.

4. In assessing net realisable value, inventory items must be considered separately, or in groups of similar items,

not by taking the inventory value as a whole.

A 1 and 2 only

B 3 and 4 only

C 1 and 3 only

D 2, 3 and 4

听力原文：W: Why is the bill of lading so important?

M: Because it shows the terms of the contract of carriage, gives evidence of the shipment of goods, and makes sure that the holder of it has the property in the goods.

Q: Which is one of the functions of a bill of lading but not mentioned in the conversation?

(18)

A．The receipt of the goods given by the ship master.

B．The evidence of the terms of the contract of carriage.

C．The evidence of the shipment of goods.

D．The evidence that the holder of it has the property in the goods.

________ means a document which evidences a contract of carriage by sea and the taking over or loading of the goods by the carrier， and by which the carrier undertakes to deliver the goods against surround of the document．

A.Bill of lading

B.Bill of exchange

C.Mate's receipt

D.Manifest

______ means any person by whom or in whose name a contract of carriage of goods by sea has been concluded with a shipper．

A.Charterer

B.Consignee

C.Consignor

D.Carrier

Under every contract of carriage of goods by sea the carrier，in relation to the loading，handling，stowage，carriage，custody，care and discharge of such goods，shall be ______ the responsibilities and liabilities，and entitled to the rights and immunities hereinafter set forth．

A.Subject to

B.Inject to

C.Object to

D.Project to