快速查题-ACCA英国注册会计师试题

Montague’s paint shop has suffered some bad publicity as a result of a customer claiming to be suffering from skin rashes

as a result of using a new brand of paint sold by Montague’s shop. The customer launched a court action against Montague

in November 20X3, claiming damages of $5,000.

Montague’s lawyer has advised him that the most probable outcome is that he will have to pay the customer $3,000.

What amount should Montague include as a provision in his financial statements for the year ended 31 December 20X3?

Mobiles Co sells goods with a one year warranty under which customers are covered for any defect that becomes apparent

within a year of purchase. In calendar year 20X4, Mobiles Co sold 100,000 units.The company expects warranty claims for

5% of units sold. Half of these claims will be for a major defect, with an average claim value of $50. The other half of these

claims will be for a minor defect, with an average claim value of $10.

What amount should Mobiles Co include as a provision in the statement of financial position for the year ended 31 December 20X4?

When a provision is needed that involves a number of outcomes, the provision is calculated using the expected value of

expenditure. The expected value of expenditure is the total expenditure of：

In relation to the award of damages in contract law, which of the following describes damages paid to protect the claimant's reliance interest? 

 In relation to contract law, which of the following describes liquidated damages? 

In which of the following circumstances would an award of specific performance be made? 

Which of the following is an example of an equitable remedy for breach of contract? 

Which of the following is true concerning the rights of an innocent party where repudiatory breach of contract has occurred?  

Which of the following is NOT a lawful excuse for failing to perform contractual obligations? 

 Which TWO of the following are tests that should be met when determining whether damages are too remote to be claimed?

(1) Losses must be connected in some way to the breach of contract  

(2) Losses must arise naturally from the breach of contract  

(3) Losses related to exceptional circumstances are too remote to be claimed

 (4) Losses arising outside the normal course of events will be compensated if the circumstances are within the defendant's knowledge when they formed to contract