ACCAF1考试-会计师与企业（基础阶段）章节练习(2020-10-09)

发布时间：2020-10-09

为了帮助大家更好的备考ACCA考试，51题库考试学习网给大家带来ACCAF1考试-会计师与企业（基础阶段）章节练习题(4)，供大家练习，希望能够对大家有所帮助。

1. Suppose that, in a certain advanced industrialised country, the government has applied price controls over rents of both public and private rented accommodation for a number of years, and a serious problem of widespread homelessness has built up. Just recently, the rent price controls have been eased. Which of the following consequences should now occur?

1 An increase in homelessness

2 In the longer term, an increase in new building work

3 The provision of more rented accommodation

4 Fewer owner-occupied dwellings

A Consequences 1 and 2

B Consequences 2 and 3

C Consequences 3 and 4

D Consequences 1 and 4

答案：B

2. The demand curve for a resource may shift because of

A A change in the demand for a good whose production is dependent on the resource

B Concerns about potential harmful pollution from the resource

C A change in the price of a substitute resource

D All of the above

答案：D

3. The income elasticity of demand for a product is high. This means that:

A Sales will fall only slightly when incomes of households fall

B Sales will rise sharply when incomes of households rise

C The good is an inferior good

答案：B

4. Using the point method, what is the price elasticity of demand of product X as price falls from its current price of $20 to $15?

Old New

Price 20 15

Quantity 10 15

A 0.5

B 1

C 1.5

D 2

答案：D

5. Consumer surplus is:

A The excess between what consumers are prepared to pay for a good or service, and the prevailing market price

B The indirect tax producers pay on a good or service

C The marginal utility gained by consuming one more unit of a good or service

D The indirect tax consumers pay on a good or service

答案：A

6. Which combination of demand and supply curves would be appropriate for a firm attempting to increase its profits by increasing its market share?

A Inelastic demand, inelastic supply

B Elastic demand, elastic supply

C Inelastic demand, elastic supply

D Elastic demand, inelastic supply

答案：B

7. If the absolute value of the price elasticity of demand for dry white wine is greater than one, a decrease in the price of all wine would result in:

A A more than proportional decrease in the quantity of dry white wine purchased

B A less than proportional decrease in the quantity of dry white wine purchased

C A less than proportional increase in the quantity of dry white wine purchased

D A more than proportional increase in the quantity of dry white wine purchased

答案：D

8. Mr Smith has a limited income which restricts the number of different goods he can buy. Which one of the following best describes the position at which Mr Smith\'s utility from purchasing different goods is maximised?

A Marginal utility from each good is equal

B Marginal utility from each good is 0

C Ratio of marginal utility to price is equal for each good

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。

Hindberg is a car retailer. On 1 April 2014, Hindberg sold a car to Latterly on the following terms:

The selling price of the car was $25,300. Latterly paid $12,650 (half of the cost) on 1 April 2014 and would pay the remaining $12,650 on 31 March 2016 (two years after the sale). Hindberg’s cost of capital is 10% per annum.

What is the total amount which Hindberg should credit to profit or loss in respect of this transaction in the year ended 31 March 2015?

A.$23,105

B.$23,000

C.$20,909

D.$24,150

正确答案：D

At 31 March 2015, the deferred consideration of $12,650 would need to be discounted by 10% for one year to $11,500 (effectively deferring a finance cost of $1,150). The total amount credited to profit or loss would be $24,150 (12,650 + 11,500).

19 Which of the following statements about intangible assets in company financial statements are correct according

to international accounting standards?

1 Internally generated goodwill should not be capitalised.

2 Purchased goodwill should normally be amortised through the income statement.

3 Development expenditure must be capitalised if certain conditions are met.

A 1 and 3 only

B 1 and 2 only

C 2 and 3 only

D All three statements are correct

正确答案：A

PV Co is evaluating an investment proposal to manufacture Product W33, which has performed well in test marketing trials conducted recently by the company’s research and development division. The following information relating to this investment proposal has now been prepared.

Initial investment $2 million

Selling price (current price terms) $20 per unit

Expected selling price inflation 3% per year

Variable operating costs (current price terms) $8 per unit

Fixed operating costs (current price terms) $170,000 per year

Expected operating cost inflation 4% per year

The research and development division has prepared the following demand forecast as a result of its test marketing trials. The forecast reflects expected technological change and its effect on the anticipated life-cycle of Product W33.

It is expected that all units of Product W33 produced will be sold, in line with the company’s policy of keeping no inventory of finished goods. No terminal value or machinery scrap value is expected at the end of four years, when production of Product W33 is planned to end. For investment appraisal purposes, PV Co uses a nominal (money) discount rate of 10% per year and a target return on capital employed of 30% per year. Ignore taxation.

Required:

(a) Identify and explain the key stages in the capital investment decision-making process, and the role of

investment appraisal in this process. (7 marks)

(b) Calculate the following values for the investment proposal:

(i) net present value;

(ii) internal rate of return;

(iii) return on capital employed (accounting rate of return) based on average investment; and

(iv) discounted payback period. (13 marks)

(c) Discuss your findings in each section of (b) above and advise whether the investment proposal is financially acceptable. (5 marks)

正确答案：
(a)Thekeystagesinthecapitalinvestmentdecision-makingprocessareidentifyinginvestmentopportunities,screeninginvestmentproposals,analysingandevaluatinginvestmentproposals,approvinginvestmentproposals,andimplementing,monitoringandreviewinginvestments.IdentifyinginvestmentopportunitiesInvestmentopportunitiesorproposalscouldarisefromanalysisofstrategicchoices,analysisofthebusinessenvironment,researchanddevelopment,orlegalrequirements.Thekeyrequirementisthatinvestmentproposalsshouldsupporttheachievementoforganisationalobjectives.ScreeninginvestmentproposalsIntherealworld,capitalmarketsareimperfect,soitisusualforcompaniestoberestrictedintheamountoffinanceavailableforcapitalinvestment.Companiesthereforeneedtochoosebetweencompetinginvestmentproposalsandselectthosewiththebeststrategicfitandthemostappropriateuseofeconomicresources.AnalysingandevaluatinginvestmentproposalsCandidateinvestmentproposalsneedtobeanalysedindepthandevaluatedtodeterminewhichofferthemostattractiveopportunitiestoachieveorganisationalobjectives,forexampletoincreaseshareholderwealth.Thisisthestagewhereinvestmentappraisalplaysakeyrole,indicatingforexamplewhichinvestmentproposalshavethehighestnetpresentvalue.ApprovinginvestmentproposalsThemostsuitableinvestmentproposalsarepassedtotherelevantlevelofauthorityforconsiderationandapproval.Verylargeproposalsmayrequireapprovalbytheboardofdirectors,whilesmallerproposalsmaybeapprovedatdivisionallevel,andsoon.Onceapprovalhasbeengiven,implementationcanbegin.Implementing,monitoringandreviewinginvestmentsThetimerequiredtoimplementtheinvestmentproposalorprojectwilldependonitssizeandcomplexity,andislikelytobeseveralmonths.Followingimplementation,theinvestmentprojectmustbemonitoredtoensurethattheexpectedresultsarebeingachievedandtheperformanceisasexpected.Thewholeoftheinvestmentdecision-makingprocessshouldalsobereviewedinordertofacilitateorganisationallearningandtoimprovefutureinvestmentdecisions.

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