ACCAF1考试-会计师与企业（基础阶段）模拟试题(2020-10-08)

发布时间：2020-10-08

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1.Which of the following organisations might benefit from a period of high price inflation?

A An organisation which has a large number of long-term payables

B An exporter of goods to a country with relatively low inflation

C A large retailer with a high level of inventory on display and low rate of inventory turnover

答案：A

2.Which of the following are the goals of macroeconomic policy?

1 Encouraging economic growth

2 Low unemployment

3 Achievement of a balance between exports and imports

4 Achieving zero inflation

A 1 and 2

B 2 and 3

C 2, 3 and 4

D 1, 2 and 3

答案：D

3.Which of the following is an example of cyclical unemployment?

A The entry of school leavers into the labour pool each year

B Lay-offs among agricultural labourers in winter

C Automation of ticketing services in tourism

D Recession in the building industry

答案：D

4. A surplus on the balance of payments usually refers to a surplus or deficit on the____ account.

Which word correctly complete this statement?

A Current

B Capital

C Financial

答案：A

5.Northland, Southland, Eastland and Westland are four countries of Asia. The following economic statistics have been produced for the year 2007.

Country Northland Southland Eastland Westland

Change in GDP (%) –0.30 +2.51 –0.55 +2.12

Balance of payments current account ($m) +5550.83 –350.47 –150.90 +220.39

Change in consumer prices (%) +27.50 +15.37 +2.25 +2.15

Change in working population employed (%) –4.76 +3.78 +1.76 –8.76

Which country experienced stagflation in the relevant period?

A Northland

B Southland

C Eastland

D Westland

答案：A

6. __________economic growth is determined by supply-side rather than by demand side factors.

Which word correctly completes this statement?

A Actual

B Potential

C National

答案：B

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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。

(b) Identify the most appropriate approved share option scheme for Happy Home Ltd. Outline the scheme

requirements and the tax benefits of using it compared to the current unapproved scheme. (6 marks)

正确答案：
(b) Share option scheme
The scheme that is best suited to Happy Home Limited is the enterprise management incentive (EMI) scheme. This share
option scheme is aimed at small fast growing companies, and because the potential risks are considered to be higher, the
available rewards are greater.
To qualify, the company must be a trading company, carrying out a qualifying trade in the United Kingdom, with gross assets
no more than ￡30m. The company must not be under the control of another company.
A qualifying company can grant each employee unexercised options over shares worth up to ￡100,000 per employee subject
to a total overall limit of unexercised options of ￡3 million. The options must be granted for commercial reasons to recruit and
retain the employee(s).
A qualifying employee is one who works on average 25 hours per week or 75% of their working time and who does not
(together with his/her associates) have a material interest in the company.
No income tax or national insurance is charged on either the grant or the exercise of the option provided that the option is
exercised not more than 10 years from the date of the grant and the amount paid is not less than the market value of the
shares at the time the option was granted.
On the sale of the shares, capital gains tax will apply, but business asset taper relief is available. Also in this case, the taper
relief starts from the date the option is granted and not from the date of exercise, as is the case with other option schemes.

5 Crusoe has contacted you following the death of his father, Noland. Crusoe has inherited the whole of his father’s

estate and is seeking advice on his father’s capital gains tax position and the payment of inheritance tax following his

death.

The following information has been extracted from client files and from telephone conversations with Crusoe.

Noland – personal information:

– Divorcee whose only other relatives are his sister, Avril, and two grandchildren.

– Died suddenly on 1 October 2007 without having made a will.

– Under the laws of intestacy, the whole of his estate passes to Crusoe.

Noland – income tax and capital gains tax:

– Has been a basic rate taxpayer since the tax year 2000/01.

– Sales of quoted shares resulted in:

– Chargeable gains of ￡7,100 and allowable losses of ￡17,800 in the tax year 2007/08.

– Chargeable gains of approximately ￡14,000 each tax year from 2000/01 to 2006/07.

– None of the shares were held for long enough to qualify for taper relief.

Noland – gifts made during lifetime:

– On 1 December 1999 Noland gave his house to Crusoe.

– Crusoe has allowed Noland to continue living in the house and has charged him rent of ￡120 per month

since 1 December 1999. The market rent for the house would be ￡740 per month.

– The house was worth ￡240,000 at the time of the gift and ￡310,000 on 1 October 2007.

– On 1 November 2004 Noland transferred quoted shares worth ￡232,000 to a discretionary trust for the benefit

of his grandchildren.

Noland – probate values of assets held at death: ￡

– Portfolio of quoted shares 370,000

Shares in Kurb Ltd 38,400

Chattels and cash 22,300

Domestic liabilities including income tax payable (1,900)

– It should be assumed that these values will not change for the foreseeable future.

Kurb Ltd:

– Unquoted trading company

– Noland purchased the shares on 1 December 2005.

Crusoe:

– Long-standing personal tax client of your firm.

– Married with two young children.

– Successful investment banker with very high net worth.

– Intends to gift the portfolio of quoted shares inherited from Noland to his aunt, Avril, who has very little personal

wealth.

Required:

(a) Prepare explanatory notes together with relevant supporting calculations in order to quantify the tax relief

potentially available in respect of Noland’s capital losses realised in 2007/08. (4 marks)

正确答案：

 

(b) Calculate the amount of input tax that will be recovered by Vostok Ltd in respect of the new premises in the

year ending 31 March 2009 and explain, using illustrative calculations, how any additional recoverable input

tax will be calculated in future years. (5 marks)

正确答案：
(b) Recoverable input tax in respect of new premises
Vostok Ltd will recover ￡47,880 (￡446,500 x 7/47 x 72%) in the year ending 31 March 2009.
The capital goods scheme will apply to the purchase of the building because it is to cost more than ￡250,000. Under the
scheme, the total amount of input tax recovered reflects the use of the building over the period of ownership, up to a maximum
of ten years, rather than merely the year of purchase.
Further input tax will be recovered in future years as the percentage of exempt supplies falls. (If the percentage of exempt
supplies were to rise, Vostok Ltd would have to repay input tax to HMRC.)
The additional recoverable input tax will be computed by reference to the percentage of taxable supplies in each year including
the year of sale. For example, if the percentage of taxable supplies in a particular subsequent year were to be 80%, the
additional recoverable input tax would be computed as follows.
￡446,500 x 7/47 x 1/10 x (80% – 72%) = ￡532.
Further input tax will be recovered in the year of sale as if Vostok Ltd’s supplies in the remaining years of the ten-year period
are fully vatable. For example, if the building is sold in year seven, the additional recoverable amount for the remaining three
years will be calculated as follows.
￡446,500 x 7/47 x 1/10 x (100% – 72%) x 3 = ￡5,586.

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