快速查题-ACCA英国注册会计师试题

Explain what is meant by a flexible budget

State two advantages and two disadvantages of a flexible budget.

Explain what is meant by a flexed budget

Which of the following statements is correct?

 If a system of a ABB is in use, how might the cost of scheduling production be flexed? 

A company sold warehouse premises at a loss during a financial period. How would this transaction be included in a statement of cash flows for the period that complies with IAS 7 Statement of Cash F/ows and that uses the indirect method to present

cash flows from operating activities?

Loss on disposal              Proceeds from sa/e in cash flows from

 A system of zero based budgeting forces employees to remove wasteful expenditure. 

 Big Time Co had the following transactions during the year.

• Purchases from suppliers were $18,500, of which $2,550 was unpaid at the year end. Brought forward payables were

$1,000.

• Wages and salaries amounted to $9,500, of which $750 was unpaid at the year end. The financial statements for the

previous year showed an accrual for wages and salaries of $1,500.

• Interest of $2,100 on a long term loan was paid in the year.

• Sales revenue was $33,400, including $900 receivables at the year end. Brought forward receivables were $400.

• Interest on cash deposits at the bank amounted to $175.

Using the direct method, what is Big Time Co's cash flow from operating activities?

 Use of zero based budgeting implies flexing budgets on the basis of differences between budgeted and actual cost-driving activities.  

Which one of the following statements is correct?