ACCA考试F3考试模拟试题(2020-08-13)
发布时间:2020-08-13
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1. Which of the
following are books of prime entry?
1 Sales day book
2 Cash book
3 Journal
4 Purchase ledger
A 1 and 2 only
B 1,2and3only
C 1 only
D All of them
答案:B
2. Which of the
following documents should accompany a return of goods to a supplier?
A Debit note
B Remittance advice
C Purchase invoice
D Credit note
答案:A
3. Which of the
following would be recorded in the sales day book?
A Discounts allowed
B Sales invoices
C Credit notes received
D Trade discounts
答案:B
4. The net assets
of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to
31 December 20X2 Altese introduced a further $50,000 of capital and made
drawings of $48,000. At 31 December 20X2 Altese\'s net assets totalled $184,000.
What is Altese\'s total profit or loss for the year ended 31 December 20X2?
A $54 ,000 profit
B $54, ,000 loss
C $42,000 loss
D $58,000 profit
答案:A
5. Jones Co has
the following transactions:
1 Payment of $400 to J Bloggs for a cash
purchase
2 Payment of $250 to J Doe in respect of an
invoice for goods purchased last month
What are the correct ledger entries to
record these transactions?
A Dr
Cash
$650
Cr
Purchases
$650
B Dr
Purchases $650
Cr
Cash
$650
C Dr
Purchases
$400
Dr Trade
Payables $250
Cr
Cash
$650
D Dr
Cash
$650
Cr Trade
Payables
$250
Cr
Purchases
$400
答案:C
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下面小编为大家准备了 ACCA考试 的相关考题,供大家学习参考。
3 The ‘person specification’ is derived from the job description.
Required:
(a) Explain what is meant by the terms:
(i) ‘person specification’; (4 marks)
3 Overview:
A traditional job description can only list or outline the tangible elements of a job. As work becomes more challenging, more
information is required about the skills needed to perform. that job. A person specification is of greater value in the professional
sector, where it is inappropriate to assume repetition and where there is a greater degree of discretion in performing the task.
Part (a):
(i) A person specification - also referred to as a personnel specification – provides the organisation with a profile of the kind of
person that would match the needs of the post. It sets out in written detail the education, qualifications, training, experience,
personal attributes and competencies a post holder must possess to perform. the task to the satisfaction of the organisation.
It describes the person needed to fulfil the task.
(b) Calculate the percentage of maximum capacity at which the zoo will break even during the year ending
30 November 2007. You should assume that 50% of the revenue from sales of ticket type ZC is attributable
to the zoo. (7 marks)
2 Your firm was appointed as auditor to Indigo Co, an iron and steel corporation, in September 2005. You are the
manager in charge of the audit of the financial statements of Indigo, for the year ending 31 December 2005.
Indigo owns office buildings, a workshop and a substantial stockyard on land that was leased in 1995 for 25 years.
Day-to-day operations are managed by the chief accountant, purchasing manager and workshop supervisor who
report to the managing director.
All iron, steel and other metals are purchased for cash at ‘scrap’ prices determined by the purchasing manager. Scrap
metal is mostly high volume. A weighbridge at the entrance to the stockyard weighs trucks and vans before and after
the scrap metals that they carry are unloaded into the stockyard.
Two furnaces in the workshop melt down the salvageable scrap metal into blocks the size of small bricks that are then
stored in the workshop. These are sold on both credit and cash terms. The furnaces are now 10 years old and have
an estimated useful life of a further 15 years. However, the furnace linings are replaced every four years. An annual
provision is made for 25% of the estimated cost of the next relining. A by-product of the operation of the furnaces is
the production of ‘clinker’. Most of this is sold, for cash, for road surfacing but some is illegally dumped.
Indigo’s operations are subsidised by the local authority as their existence encourages recycling and means that there
is less dumping of metal items. Indigo receives a subsidy calculated at 15% of the market value of metals purchased,
as declared in a quarterly return. The return for the quarter to 31 December 2005 is due to be submitted on
21 January 2006.
Indigo maintains manual inventory records by metal and estimated quality. Indigo counted inventory at 30 November
2005 with the intention of ‘rolling-forward’ the purchasing manager’s valuation as at that date to the year-end
quantities per the manual records. However, you were not aware of this until you visited Indigo yesterday to plan
your year-end procedures.
During yesterday’s tour of Indigo’s premises you saw that:
(i) sheets of aluminium were strewn across fields adjacent to the stockyard after a storm blew them away;
(ii) much of the vast quantity of iron piled up in the stockyard is rusty;
(iii) piles of copper and brass, that can be distinguished with a simple acid test, have been mixed up.
The count sheets show that metal quantities have increased, on average, by a third since last year; the quantity of
aluminium, however, is shown to be three times more. There is no suitably qualified metallurgical expert to value
inventory in the region in which Indigo operates.
The chief accountant disappeared on 1 December, taking the cash book and cash from three days’ sales with him.
The cash book was last posted to the general ledger as at 31 October 2005. The managing director has made an
allegation of fraud against the chief accountant to the police.
The auditor’s report on the financial statements for the year ended 31 December 2004 was unmodified.
Required:
(a) Describe the principal audit procedures to be carried out on the opening balances of the financial statements
of Indigo Co for the year ending 31 December 2005. (6 marks)
2 INDIGO CO
(a) Opening balances – principal audit procedures
Tutorial note: ‘Opening balances’ means those account balances which exist at the beginning of the period. The question
clearly states that the prior year auditor’s report was unmodified therefore any digression into the prior period opinion being
other than unmodified or the prior period not having been audited will not earn marks.
■ Review of the application of appropriate accounting policies in the financial statements for the year ended 31 December
2004 to ensure consistent with those applied in 2005.
■ Where permitted (e.g. if there is a reciprocal arrangement with the predecessor auditor to share audit working papers
on a change of appointment), a review of the prior period audit working papers.
Tutorial note: There is no legal, ethical or other professional duty that requires a predecessor auditor to make available
its working papers.
■ Current period audit procedures that provide evidence concerning the existence, measurement and completeness of
rights and obligations. For example:
? after-date receipts (in January 2005 and later) confirming the recoverable amount of trade receivables at
31 December 2004;
? similarly, after-date payments confirming the completeness of trade and other payables (for services);
? after-date sales of inventory held at 31 December 2004;
? review of January 2005 bank reconciliation (confirming clearance of reconciling items at 31 December 2004).
■ Analytical procedures on ratios calculated month-on-month from 31 December 2004 to date and further investigation
of any distortions identified at the beginning of the current reporting period. For example:
? inventory turnover (by category of metal);
? average collection payment;
? average payment period;
? gross profit percentage (by metal).
■ Examination of historic accounting records for non-current assets and liabilities (if necessary). For example:
? agreeing balances on asset registers to the client’s trial balance as at 31 December 2004;
? agreeing statements of balances on loan accounts to the financial statements as at 31 December 2004.
■ If the above procedures do not provide sufficient evidence, additional substantive procedures should be performed. For
example, if additional evidence is required concerning inventory at 31 December 2004, cut-off tests may be
reperformed.
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