題目

A sole trader fixes her prices by adding 50 per cent to the cost of all goods purchased. On 31 October 20X3 a fire destroyed a considerable part of the inventory and all inventory records.Her trading account for the year ended 31 October 20X3 included

the following figures:

Sales????????????????????????????????????????????? $?????????????????????????$??????????????????????????

Opening inventory at cost?????? ? 183.600????????????? 281,250

Purchases??????????????????????????????? ?249,200

Closing inventory at cost???????? ? 432,800??????????? ?228,200

Gross profit??????????????????????????????? 204.600????????????? 53,050

Using this information, what inventory loss has occurred?

A

$61,050

B

$87,575

C

$40,700

D

$110,850

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Chapter17Incompleterecords

Cost of sales = $281,250 x 2/3 = $187,500

Loss of inventory = $228,200 - 187,500 = $40,700

多做幾道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

?The accruals concept

C

The going concern concept

D

?The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

?The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1?and?2

B

2?and?3

C

?1?and?4

D

3?and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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