Which of the following companies are subsidiaries of Gamma Co?Zeta Co: Gamma Co-新东方在线职业题库

新东方在线题库 > ACCA英国注册会计师试题 > F3 > Chapter20-23 > Which of t...

Which of the following companies are subsidiaries of Gamma Co?

Zeta Co: Gamma Co owns 51% of the non-voting preference shares of Zeta Co Iota Co: Gamma Co has 3 representatives on the board of directors of Iota Co. Each director can cast 10 votes each out of the total of 40 votes at board meetings.

Kappa Co: Gamma Co owns 75% of the ordinary share capital of Kappa Co, however Kappa Cois located overseas and is

subject to tax in that country.

A

Zeta Co, Iota Co and Kappa Co

B

Zeta Co and Kappa Co

C

Iota Co and Kappa Co

D

Zeta Co and Iota Co

Chapter23Introductiontoconsolidatedfinancialstatements

Iota is a subsidiary as Gamma has power to cast a majority of votes at meetings of the board of directors. Kappa is a subsidiary as Gamma owns >50% of the ordinary shares of Kappa, it doesn’t make any difference that Kappa is based overseas or pays tax in that country. Zeta is not a subsidiary of Gamma because Gamma’s investment in the non-voting preference shares will not give it the ability to control Zeta.

多做几道

Which of the following is a ratio which is used to measure how much a business owes in relation to its size?

A

Asset turnover

B

Profit margin

C

Gearing

D

Return on capital employed

A business operates on a gross profit margin of 331/3%. were $680. Gross profit on a sale was $800, and expenses

What is the net profit margin?

A

3.75%

B

5%

C

11.25%

D

22.67%

A company has the following details extracted from its statement of financial position：

$'000

Inventories 1,900

Receivables 1,000

Bank overdraft 100

Payables 1,000

The industry the company operates in has a current ratio norm of 1.8. Companies who manage liquidity well in this industry

have a current ratio lower than the norm.

Which of the following statements accurately describes the company’s liquidity position?

A

Liquidity appears to be well managed as the bank overdraft is relatively low

B

Liquidity appears to be poorly-controlled as shown by the large payables balance

C

Liquidity appears to be poorly-controlled as shown by the company’s relatively high current ratio

D

Liquidity appears to be poorly-controlled as shown by the existence of a bank

Why is analysis of financial statements carried out?

A

So that the analyst can determine a company’s accounting policies

B

So that the significance of financial statements can be better understood through comparisons

with historical performance and with other companies

C

To get back to the ‘real’ underlying figures, without the numbers being skewed by the

requirements of International Financial Reporting Standards

D

To produce a report that can replace the financial statements, so that the financial statements

no longer need to be looked at

Which of the following transactions would result in an increase in capital employed?

A

Selling inventory at a profit

B

Writing off a bad debt

C

Paying a payable in cash

D

Increasing the bank overdraft to purchase a non-current asset

最新试题

该科目易错题

该题目相似题

The information below relates to inventory item Z.March 1 50 units held in opening inventory at a cost of $40 per unit17 50 units purchased at a cost of $50 per unit31 60 units sold at a selling price of $100 per unitUnder AVCO, what is the value of inventory held for item Z at the end of March 31?A$4,000B$1,800C$2,000D $2,500
A firm has the following transactions with its product R.1 January 20X1 Opening inventory：I February 20X1 nil Buys 10 units at $300 per unitIIFebruary 20X1 1 April 20X1 Buys 12 units at $250 per unit1 August 20X1 1 December 20X1 Sells 8 units at $400 per unitBuys 6 units at $200 per unit Sells 12 units at $400 per unitThe firm uses periodic weighted average cost (AVCO) to value its inventory.What is the inventory value at the end of the year?A$nilB$2,057.12C$2,400.00D$2,007.20
The electricity account for the year ended 30 June 20X1 was as follows.Opening balance for electricity accrued at 1 July 20X0 Payments made during the year1 August 20X0 for three months to 31 July 20X01 November 20X0 for three months to 31 October 20X01 February 20X1 for three months to 31 January 20X130 June 20X1 for three months to 30 April 20X11 August 20X1 for three months to 31 July 20X1Which of the following is the appropriate entry for electricity?Accrued Charge to SPLat 30 June 20X1 year ended 30 June 20X1 AA$Nil $3,060B$460 $3,320C$560 $3,320D$560 $3,420
W is registered for sales tax. The managing director has asked four staff in the accounts department why the output tax for the last quarter does not equal 20% of sales (20% is the rate of tax). Which one of the following four replies she received was not correct?AThe company had some exports that were not liable to sales taxBThe company made some sales of zero-rated productsCThe company made some sales of exempt products.DThe company sold some products to businesses not registered for sales tax.
A sole trader fixes his prices to achieve a gross profit percentage on sales revenue of 40%. All his sales are for cash. He suspects that one of his sales assistants is stealing cash from sales revenue.His trading account for the month of June 20X3 is as follows: $Recorded sales revenue 181,600Cost of sales 114,000Gross profit 67,600Assuming that the cost of sales figure is correct, how much cash could the sales assistant have taken?A$5,040B$8,400C$22,000DIt is not possible to calculate a figure from this information
The following information is relevant for questions 20.4 and 20.5.A is a sole trader who does not keep full accounting records. The following details relate to her transactions with credit customers and suppliers for the year ended 30 November 20X3. $Trade receivables, 1 December 20X2 130,000Trade payables, 1 December 20X2 60,000Cash received from customers 686,400Cash paid to suppliers 302,800Discounts allowed 1,400Discounts received 2,960Irrecoverable debts 4,160Amount due from a customer who is also a supplier offset against an amount due for goods supplied by him 2,000Trade receivables, 30 November 20X3 181,000Trade payables, 30 November 20X3 84,000 Based on the above information, what figure should appear in A's statement of profit or loss for the year ended 30 November 20X3 for sales revenue?A$748,960B$748,800C$744,960D$743,560
IAS 10 Events after the reporting period regulates the extent to which events after the reporting period should be reflected in financial statements.Which one of the following lists of such events consists only of items that, according to IAS 10, should normally be classified as non-adjusting?AInsolvency of an account receivable which was outstanding at the end of the reporting period, issue of shares or loan notes, an acquisition of another companyBIssue of shares or loan notes, changes in foreign exchange rates, major purchases of non-current assetsCAn acquisition of another company, destruction of a major non-current asset by fire, discovery of fraud or error which shows that the financial statements were incorrectDSale of inventory which gives evidence about its value at the end of the reporting period, issue of shares or loan notes, destruction of a major non-current asset by fire
Which of the following assertions about statement of cash flows is/are correct? 1 A statement of cash flows prepared using the direct method produces a different figure for operating cash flow from that produced if the indirect method is used. 2 Rights issues of shares do not feature in statements of cash flows. 3 A surplus on revaluation of a non-current asset will not appear as an item in a statement of cash flows. 4 A profit on the sale of a non-current asset will appear as an item under Cash Flows from Investing Activities in a statement of cash flows. A1 and 4B2 and 3C3 onlyD2 and 4
What amount should appear in the group's consolidated statement of financial position at 31 December 20X2 for retained earnings?A$280,000B$291,000C$354,000D $ 273,000
Which one of the following would help a company with high gearing to reduce its gearing ratio?AMaking a rights issue of equity sharesBIssuing further long-term loan notesCMaking a bonus issue of sharesDPaying dividends on its equity shares