ACCA英国注册会计师试题及答案_ACCA英国注册会计师考试练习题P76-新东方在线职业题库

The following statements have been made about budgeting.

(1) An incremental budget is a budget which is designed to change as the volume of output changes.

(2) Zero-based budgeting is used to compare the incremental cost and related benefits of activities.

Which of the above statements is/are true?

A

1 only

B

2 only

C

Neither 1 nor 2

D

Both 1 and 2

Toots Co has made healthy profits for the past year, although at times the company has been close to running out of cash.

Because Toots Co is profitable, Adam, their accountant is unconcerned by the cash shortage. Jo, the financial controller at

Toots Co, is concerned. Jo tells Adam, ‘profits are fine on paper, but in the real world cash is king’. Jo believes Toots Co

needs to take a more proactive approach to cash flow management.

Adam and Jo have two different views. Who is correct, and why?

A

Adam is correct. A profitable business should not waste management time on cash flow issues.

B

Adam is correct. A profitable business will always survive and prosper.

C

Jo is correct. Proactive cash flow management is required under IAS 7 Statements of Cash

Flows.

D

Jo is correct. A business that does not have cash available to fund operations is likely to fail.

Which of the following is a characteristic of feedback?

A

It is used mainly for planning purposes

B

It is secondary data

C

It comes from internal sources within the organisation

D

It consists entirely of financial information

Which one of the following statements correctly identifies a valid disadvantage to users of financial statements of the sta

tement of cash flows?

A

Under IAS 7 Statement of cash flows, an entity may use any format for their statement.

B

There is an opportunity to reclassify some cash outflows that might have been reported in the

operating section as investing cash outflows.

C

Under IAS 7 Statement of cash flows the statement of cash flows may cover a different period of time to the other financial statements.

D

Cash flow figures are more open to manipulation than the profit figure.

A budget that is continuously updated by adding a further accounting period (a month or a quarter) when the earlier accounting period has expired is known as a:

A

Zero base budget

B

Rolling budget

C

Periodic budget

D

Flexible budget

What amount should appear in the group's consolidated statement of financial position at 31 December 20X2 for goodwill?

A

$52,000

B

$80,000

C

$122,000

D

$212,000

The following statements have been made about zero base budgeting.

(1) The zero base budgeting process seeks to identify long-term benefits and improvements, even if they are sometimes made at the expense of short-term profitability.

(2) A barrier to the use of zero base budgeting is the possibility that management may not have the skills to apply it.

Which of the above statements is/are true?

A

1 only

B

2 only

C

Neither 1 nor 2

D

Both 1 and 2

What amount should appear in the group's consolidated statement of financial position at 31 December 20X2 for

non-controlling interest?

A

$49,000

B

$58,000

C

$51,000

D

$42,000

A control system that reacts to historical changes in the business environment, usually to maintain a desired state of operations, is known as:

A

Feedback control

B

Feedforward control

C

A rolling budget

D

Top-down control

What amount should appear in the group's consolidated statement of financial position at 31 December 20X2 for retained

earnings?

A

$280,000

B

$291,000

C

$354,000

D

$ 273,000

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