ACCA考试F4模拟试题(2020-08-15)

发布时间：2020-08-15

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7 In relation to corporate behaviour and legal liabilities:

(a) explain the doctrine of independent legal entity of a company;

(b) state the system of disregard of corporate personality;

(c) state the liabilities of a shareholder for abusing the doctrine of independent legal entity of a company.

答案：

7 This question requires candidates to explain the doctrine of independent legal entity of a company and the system of disregard of corporate personality, and state the forms of liabilities for abuse of the independent legal entity.

(a) In accordance with Article 3 of the Company Law, the doctrine of independent legal entity of a company means that a company is a separate legal entity, has the independent properties of a legal person and enjoys the right to such properties.

Shareholders shall assume liability towards the company to the extent of the amount of capital contributions subscribed by them respectively. A company shall be liable for its debts to the extent of all its assets.

(b) The system of disregard of corporate personality means that the shareholders of a company shall be liable for the debts or civil liabilities of the company where the shareholders abuse the doctrine of independent legal entity of a company to conduct any fraudulent behaviours damaging the interests of the company, or other shareholders, or creditors of the company.

(c) Where the shareholders of a company abuse the independent status of corporate legal person and shareholders’ limited

liability to avoid debts and damage the interests of the company’s creditors, the limited liability of the shareholder shall be disregarded. Such a shareholder shall undertake the joint and several liability for the company’s debts.

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4 The Better Agriculture Group (BAG), which has a divisional structure, produces a range of products for the farming

industry. Divisions B and C are two of its divisions. Division B sells a fertiliser product (BF) to customers external to

BAG. Division C produces a chemical (CC) which it could transfer to Division B for use in the manufacture of its

product BF. However, Division C could also sell some of its output of chemical CC to external customers of BAG.

An independent external supplier to The Better Agriculture Group has offered to supply Division B with a chemical

which is equivalent to component CC. The independent supplier has a maximum spare capacity of 60,000 kilograms

of the chemical which it is willing to make available (in total or in part) to Division B at a special price of $55 per

kilogram.

Forecast information for the forthcoming period is as follows:

Division B:

Production and sales of 360,000 litres of BF at a selling price of $120 per litre.

Variable conversion costs of BF will amount to $15 per litre.

Fixed costs are estimated at $18,000,000.

Chemical (CC) is used at the rate of 1 kilogram of CC per 4 litres of product BF.

Division C:

Total production capacity of 100,000 kilograms of chemical CC.

Variable costs will be $50 per kilogram of CC.

Fixed costs are estimated at $2,000,000.

Market research suggests that external customers of BAG are willing to take up sales of 40,000 kilograms of CC at a

price of $105 per kilogram. The remaining 60,000 kilograms of CC could be transferred to Division B for use in

product BF. Currently no other market external to BAG is available for the 60,000 kilograms of CC.

Required:

(a) (i) State the price/prices per kilogram at which Division C should offer to transfer chemical CC to Division

B in order that the maximisation of BAG profit would occur if Division B management implement rational

sourcing decisions based on purely financial grounds.

Note: you should explain the basis on which Division B would make its decision using the information

available, incorporating details of all relevant calculations. (6 marks)

正确答案：
(a) (i) In order to facilitate BAG profit maximising decisions the following strategy should apply:
Division C should offer to transfer chemical CC to Division B at marginal cost plus opportunity cost. This would apply
as follows:
– 40,000 kilograms of CC at $105 per kilogram since this is the price that could be achieved from sales to external
customers of BAG.
– 60,000 kilograms of CC at marginal cost of $50 per kilogram since no alternative opportunity exists.
Division B has a sales forecast of 360,000 litres of product BF. This will require 360,000/4 = 90,000 kilograms of
chemical CC input.
Based on the pricing by Division C indicated above, Division B would choose to purchase 60,000 kilograms of CC from
Division C at $50 per kilogram, since this is less than the $55 per kilogram quoted by the independent supplier.
Division B would purchase its remaining requirement for 30,000 kilograms of CC from the independent supplier at $55
per kilogram since this is less than the $105 per kilogram at which Division C would offer to transfer its remaining output
– given that it can sell the residual output to external customers of BAG.

(ii) Set out the information required by Jane in connection with the administration of the company’s tax

affairs and identify any penalties that may already be payable. (3 marks)

正确答案：
(ii) Administration of the company’s tax affairs
The corporation tax return must be submitted within 12 months of the end of the accounting period, i.e. by 5 April
2008.
Corporation tax is due nine months and one day after the end of the accounting period, i.e. by 6 January 2008.
HMRC have 12 months from the filing date to enquire into the corporation tax return. This deadline is extended if the
return is submitted late. Once this deadline has passed the return can be regarded as agreed provided it includes all
necessary information and there has been no loss of tax due to the company’s fraud or negligence.
Jane should have notified HMRC by 5 July 2006 that Speak Write Ltd’s first accounting period began on 6 April 2006.
The penalty for failing to notify is a maximum of ￡3,000.

10 What would the company’s profit become after the correction of the above errors?

A $634,760

B $624,760

C $624,440

D $625,240

正确答案：D
630,000 – 4,320 – 440

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