ACCA考试F9每日一练(2019-01-04)

发布时间：2019-01-04

Question：Which of the following statements best describes the invoice discounting service offered by a factoring company?

A.The factoring company enforces the correct administration of the client's system of offering cash discounts, and ensures that discounts are disallowed in line with policy.

B.The factoring company advances finance to the client against the debts which the factor has purchased, up to 80% of the value of the debts.

C.The factoring company purchases a selection of invoices, at a discount, thus providing the client with a source of short-term finance.

D.The factoring company takes over the administration of the client's invoicing system.

The correct answer is: The factoring company purchases a selection of invoices, at a discount, thus providing the client with a source of short-term finance.

True invoice discounting is a one-off arrangement made purely for the advance of cash to the client to cover a short-term cash shortfall.

While a factoring company may take over invoicing, this is an administrative service and has no financial component. It therefore has nothing to do with invoice discounting.

Enforcing correct administration is an administrative function that will be carried out by the factoring company if it is responsible for debt collection. It has nothing to do with the allowance of finance.

Advancing finance to the client is effectively 'factor finance', or the allowance of short-term finance against the total receivables ledger rather than against individual invoices.

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。

15 What journal entry is required to record goods taken from inventory by the owner of a business?

A Debit Drawings

Credit Purchases

B Debit Sales

Credit Drawings

C Debit Drawings

Credit Inventory

D Debit Purchases

Credit Drawings

正确答案：A

(iii) The extent to which Amy will be subject to income tax in the UK on her earnings in respect of duties

performed for Cutlass Inc and the travel costs paid for by that company. (5 marks)

Appropriateness of format and presentation of the report and the effectiveness with which its advice is

communicated. (2 marks)

Note:

You should assume that the income tax rates and allowances for the tax year 2006/07 and the corporation tax

rates and allowances for the financial year 2006 apply throughout this questio

正确答案：
(iii) Amy’s UK income tax position
Amy will remain UK resident and ordinarily resident as she is not leaving the UK permanently or for a complete tax year
under a full time contract of employment. Accordingly, she will continue to be subject to UK tax on her worldwide income
including her earnings in respect of the duties she performs for Cutlass Inc. The earnings from these duties will also be
taxable in Sharpenia as the income arises in that country.
The double tax treaty between the UK and Sharpenia will either exempt the employment income in one of the two
countries or give double tax relief for the tax paid in Sharpenia. The double tax relief will be the lower of the UK tax and
the Sharpenian tax on the income from Cutlass Inc.
Amy will not be subject to UK income tax on the expenses borne by Cutlass Inc in respect of her flights to and from
Sharpenia provided her journeys are wholly and exclusively for the purposes of performing her duties in Sharpenia.
The amounts paid by Cutlass Inc in respect of Amy’s family travelling to Sharpenia will be subject to UK income tax as
Amy will not be absent from the UK for a continuous period of at least 60 days.

(c) (i) Provide three examples of personal financial planning protection products that would be of use in

Henry’s situation. Justify your selections by reference to the type of protection provided. (6 marks)

正确答案：
(c) (i) Protection products
Henry is still working and has a mortgage to support. He therefore needs to protect not only his assets but also cover
any debt, or the ability to repay. The following protection policies are relevant to Henry’s situation.
Life assurance
This is a form. of insurance that pays out on a chargeable event, usually death. The main types are:
– Term Assurance which provides cover for a fixed term with the sum assured payable only on death. No investment
benefits or payments arise on survival.
– Whole of Life Assurance where the policy provides life protection. The sum assured is payable on death at any time
and usually some form. of investment benefit will accrue in the form. of a surrender value.
A qualifying policy will give a tax-free lump sum that could, for example, be used to repay the mortgage.
Permanent health insurance
Permanent health insurance policies are designed to provide the policyholder with a benefit if s/he is unable to work
through sickness or if s/he needs medical expenses or long-term care.
This would provide Henry with an income in the event of illness – again useful given his mortgage, and would avoid
the need to liquidate other assets to pay the mortgage or ongoing costs.
Critical illness insurance
These policies provide a capital sum where a critical illness (from a large range listed in the policy) is diagnosed.
For the same reasons above, Henry should consider this in conjunction with permanent health insurance.
Note: Marks will also be given for other relevant protection products, e.g. specific mortgage protection insurance linked
to an event other than death.

(b) How can Maslow’s theory be applied to the motivation of staff? (5 marks)

正确答案：
(b) This theory is based on the idea that the goals of the individual and the organisation can be integrated and that personal satisfaction can be achieved through the workplace. It also assumes that individuals will achieve self-actualisation through their role in assisting the organisation to achieve its objectives. It follows therefore that work is the principal source of satisfaction.
The theory’s practical application is that managers should recognise that subordinates’ needs are always evolving and increasing, so continued attention to increasing the employees’ personal development, opportunities for advancement and recognition of achievement are essential to keep them motivated.

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