18 How should interest charged on partners’ drawings appear in partnership financial statements?A As income in the income statementB Added to net profit and charged to partners in the division of profitC Deducted from net profit and charged to partners in
题目
18 How should interest charged on partners’ drawings appear in partnership financial statements?
A As income in the income statement
B Added to net profit and charged to partners in the division of profit
C Deducted from net profit and charged to partners in the division of profit
D Deducted from net profit in the division of profit and credited to partners
相似考题
更多“18 How should interest charged on partners’ drawings appear in partnership financial statements?A As income in the income statementB Added to net profit and charged to partners in the division of profitC Deducted from net profit and charged to partners in”相关问题
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第1题：
17 A business income statement for the year ended 31 December 2004 showed a net profit of $83,600. It was later
found that $18,000 paid for the purchase of a motor van had been debited to motor expenses account. It is the
company’s policy to depreciate motor vans at 25 per cent per year, with a full year’s charge in the year of acquisition.
What would the net profit be after adjusting for this error?
A $106,100
B $70,100
C $97,100
D $101,600
正确答案：C
83,600 + 18,000 – 4,500 = 97,100 -
第2题：
ORGANIZING A BUSINESS IN DIFFERENT WAYS Businesses are structured in different ways to meet different needs. The simplest form. of business is called an individual or sole proprietorship. The proprietor owns all of the property of the business and is responsible for everything. Another kind of business is a partnership. Two or more people go into business together. An agreement is usually needed to decide how much of the partnership each person controls. One kind of partnership is called a limited liability partnership. These have full partners and limited partners. Limited partners may not share as much in the profits, but they also have less responsibility for the business. Doctors, lawyers and accountants often form. partnerships to share their risks and profits. A husband and wife can form. a business partnership together. Partnerships exist only for as long as the owners remain alive. The same is true of individual proprietorships. But corporations are designed to have an unlimited lifetime. A corporation is the most complex kind of business organization. Corporations can sell stock as a way to raise money. Stocks represent shares of ownership in a company. Investors who buy stock can trade their shares or keep them as long as the company is in business. A corporation is recognized as an entity-its own legal being, separate from its owners. A board of directors controls corporate policies. The directors appoint top company officers. The directors might or might not hold shares in the corporation. Corporations can have a few major shareholders, or ownership can be spread among the general public. But not all corporations are traditional businesses that sell stock. Some non-profit groups are also organized as corporations.
1. This passage is mainly about ().
A. why different forms of business run
B. when different forms of business raise money
C. how different forms of business are organized
2. What is usually needed to decide the portion of the partnership each person controls?()
A. A rule.
B. An agreement.
C. A regulation.
3. Who are not included in limited liability partnerships?()
A. Full partners.
B. Limited partners.
C. Unlimited partners.
4. How can corporations raise money?()
A. By selling stock.
B. By buying stock.
C. By holding corporation shares.
5. Who controls corporate policies in a corporation?()
A. Chairman of the board.
B. A board of directors.
C. The owner of the corporation.
参考答案:1:C; 2:B;3:C; 4:A;5:B
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第3题：
听力原文：M: What margins will the lending bank charge?
W: Margins mainly depend on these factors: evaluation of credit risk, maturity of credit, and the starting point from which onwards the rate of interest shall be firm.
Q: How many factors do margins charged by the lending bank mainly depend on?
(12)
A．Four.
B．Two.
C．Three.
D．Five.
正确答案：C
解析：录音原文提到Margins mainly depend on…the rate of interest shah be firm．所以C选项正确。 -
第4题：
Which term means “the profit that a company has obtained from selling its products or services in a particular period of time, in relation to its sales for the period”?A、Annual income
B、operation profit
C、return on sales
D、net profit
参考答案：C
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第5题：
The other main source of revenue for a bank is fee income, or called ______ income.
A．interest
B．commission
C．service
D．net
正确答案：B
解析：句意：银行另一项主要收人来源于手续费。fee income-和commission income都指手续费，是银行不需要动用自己资金获得的收入，是与利息不同的一种收入来源。 -
第6题：
From the functional income statement we can see clearly the total revenue, total cost and the gross profit etc.
A．Right
B．Wrong
C．Doesn't say
正确答案：C
解析：文中只说it shows revenues less cost of goods sold (gross margin) less selling and administrative expenses，并没有说能看到"the total revenue, total cost"。 -
第7题：
During inflationary periods, the use of the LIFO method of costing inventory will result in a greater amount of net income than would result from the use of the FIFO method.()
正确答案：错
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第8题：
Which of the following statements relating to internal and external auditors is correct?
A.Internal auditors are required to be members of a professional body
B.Internal auditors’ scope of work should be determined by those charged with governance
C.External auditors report to those charged with governance
D.Internal auditors can never be independent of the company
正确答案：BA is incorrect as internal auditors are not required to be members of any professional body. C is incorrect as external auditors report to shareholders rather than those charged with governance. D is incorrect as internal auditors can be independent of the company, if, for example, the internal audit function has been outsourced.
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第9题：
Which of the following statements is FALSE concerning the proper procedure in handling a fire hose ________．
A.A 1.5 inch hose should be deployed with a minimum of a nozzleman and hoseman
B.Back-up hosemen should be positioned wherever the hose makes a significant turn
C.The fire hose should be partially charged before deploying it from the fire station
D.The nozzleman should always hold the nozzle with one hand on top，to prevent kickback
正确答案：C
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第10题：
利润分配表（Income Statementand Profit Appropriation）ISPA
正确答案: 反映的是某公司当年的净利润的分配情况和年末分配利润的情况。该表的编制是从公司净利润额开始的。 -
第11题：
问答题Credit cards enable their holders to obtain goods and services on credit. They are issued by retail stores, banks, credit card companies to approved clients. The bank or credit card company settles the client’s bills, invoicing him monthly and charging interest on any outstanding debts. Their profit comes from the high rate of interest charged, the card holder’s subscriptions, and the fees paid by some organizations that accept cards.正确答案：
信用卡能使持卡人通过赊账的方式购买商品、得到服务。信用卡由零售商店、银行和信用卡公司发放给经过批准的客户。银行或信用卡公司结清客户的账单,按月给客户开列其消费清单,收取欠款的利息。这些金融机构的利润来自所收取的高额利息、持卡人支付的认购费以及接受信用卡消费的单位所交纳的代理费。解析： 暂无解析 -
第12题：
名词解释题利润分配表（Income Statementand Profit Appropriation）ISPA正确答案： 反映的是某公司当年的净利润的分配情况和年末分配利润的情况。该表的编制是从公司净利润额开始的。解析： 暂无解析 -
第13题：
(ii) From the information provided above, recommend the matters which should be included as ‘findings
from the audit’ in your report to those charged with governance, and explain the reason for their
inclusion. (7 marks)
正确答案：
(ii) Control weakness
ISA 260 contains guidance on the type of issues that should be communicated. One of the matters identified is a control
weakness in the capital expenditure transaction cycle. The assets for which no authorisation was obtained amount to
0·3% of total assets (225,000/78 million x 100%), which is clearly immaterial. However, regardless of materiality, the
auditor should ensure that the weakness is brought to the attention of the management, with a clear indication of the
implication of the weakness, and recommendations as to how the control weakness should be eliminated.
The auditor is providing information to help those charged with governance improve the internal systems and controls
and ultimately reduce business risk. In this case there is a high risk of fraud, as the lack of authorisation for purchase
of office equipment could allow expenditure on assets not used for bona fide business purposes.
Disagreement with accounting treatment of brand
Audit procedures have revealed a breach of IAS 38 Intangible Assets, in which internally generated brand names are
specifically prohibited from being recognised. Blod Co has recognised an internally generated brand name which is
material to the statement of financial position (balance sheet) as it represents 12·8% of total assets (10/78 x 100%).
The statement of financial position (balance sheet) therefore contains a material misstatement.
The report to those charged with governance should clearly explain the rules on recognition of internally generated brand
names, to ensure that the management has all relevant technical facts available. In the report the auditors should
request that the financial statements be corrected, and clarify that if the brand is not derecognised, then the audit opinion
will be qualified on the grounds of a material disagreement – an ‘except for’ opinion would be provided. Once the breach
of IAS 38 is made clear to the management in the report, they then have the opportunity to discuss the matter and
decide whether to amend the financial statements, thereby avoiding a qualified audit opinion.
Audit inefficiencies
Documentation relating to inventories was not always made readily available to the auditors. This seems to be due to
poor administration by the client rather than a deliberate attempt to conceal information. The report should contain a
brief description of the problems encountered by the audit team. The management should be made aware that
significant delay to the receipt of necessary paperwork can cause inefficiencies in the audit process. This may seem a
relatively trivial issue, but it could lead to an increase in audit fee. Management should react to these comments by
ensuring as far as possible that all requested documentation is made available to the auditors in a timely fashion. -
第14题：
— Generally speaking, value added tax is mainly charged on the taxable services.— Well,()A. how do you know it?
B. why do you say so?
C. what do you mean by that?
参考答案：C
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第15题：
Which term means “the amount of money which a business obtains (in a year) from customers by selling goods or services”?A、Annual income
B、operation profit
C、annual turnover
D、net profit
参考答案：C
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第16题：
Net income had the year－over－year decrease due to a net loss in its investment income.()此题为判断题(对，错)。
参考答案：对
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第17题：
______ shows that net income for a specified period of time and how it was calculated.
A．The accounting statement
B．The capital statement
C．The income statement
D．The statement of financial condition
正确答案：C
解析：损益表(income statement)显示企业一段时期内获得的净利润，以及计算过程。accounting statement会计报表。capital statement股权变动表。statement of financial condition财务状况表。 -
第18题：
Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error.()A.net income is understated
B.net income is overstated
C.merchandise inventory reported on the balance sheet is overstated
D.cost of merchandise sold is understated
正确答案：A
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第19题：
If ending inventory for the year is understated, net income for the year is overstated.()
正确答案：错
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第20题：
How do smart business architecture selling tools help partners increase sales?()A.free partners from design tasks, which increases profitability
B.focus on the prepare phase of thecisco lifecycle services model, which maximizes revenue
C.enable partners to increase professional services revenue by providing A complete, integrated solution for midsize firms and SMBs
D.highlight additional point products that the customer may want
参考答案：C
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第21题：
What does“down payment”refer to in the passage? __________A.Money borrowed from a bank as a mortgage
B.Money paid to a bank before the mortgages is given
C.Interest received by a person who borrows money as the mortgages
D.Interest charged by a bank on a mortgage答案：B解析：从文章末段倒数第二句“111e bankwillthenlend youthe rest ofthemoneyto buythe house”可以推知“down payment”是在取得贷款之前自己先支付的那部分款项。即首付款。故选B项。 -
第22题：
How do smart business architecture selling tools help partners increase sales?（）
- A、free partners from design tasks, which increases profitability
- B、focus on the prepare phase of thecisco lifecycle services model, which maximizes revenue
- C、enable partners to increase professional services revenue by providing A complete, integrated solution for midsize firms and SMBs
- D、highlight additional point products that the customer may want
正确答案:C -
第23题：
单选题The ice-skating partners, who were never finishing higher than seventh place, surprised their coaches by finally winning a competition.AThe ice-skating partners, who were never finishing higher than seventh place,
BThe ice-skating partners, who had never finished higher than seventh place,
CHaving never finished higher than seventh place as ice-skating partners,
DThe ice-skating partners never finished higher than seventh place,
ENever finishing higher than seventh place, the skating partners has
正确答案： C解析：
原句中的动词短语“were never finishing”的使用形式不正确，应该用“who had never finishe”代替。D中的划线部分已经是个句子，因此不正确。E中的动词省去has，那么正确。