
Kế CFAB - Chap 1
Authored by 22.4 LT1_14_Hoàng Phương Linh
Architecture
1st - 5th Grade
Used 4+ times

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best explains what is meant by “capital expenditure”?
Capital expenditure is expenditure:
On non-current assets, including repairs and maintenance
On expensive items over £10,000
On the acquisition of non-current assets, or improvement in their earning capacity
On items relating to owners’ capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following should be accounted for as capital expenditure?
The annual cost of painting a factory floor
The repair of a window in a building
The purchase of a vehicle by a garage for re-sale
Legal fees incurred on the purchase of abuilding
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following items should be treated as capital expenditure in the financial statements of a sole trader?
£500 taken by the proprietor to buy himself a hi-fi system
£400 spent on purchasing a new PC to replace his secretary’s old one
£2,000 on purchasing a machine for re-sale
£150 paid to a painter for redecorating hisoffice
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an aspect of relevance, according to the
Conceptual Framework?
Neutrality
Free from error
Completeness
Materiality
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the Conceptual Framework, which qualitative characteristics enhance the usefulness of information that is relevant and faithfully represented?
Comparability, Understandability, Timeliness, Verifiability
Consistency, Prudence, Measurability, Verifiability
Consistency, Reliability, Measurability, Timeliness
Materiality, Understandability, Measurability,Reliability
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which THREE of the following users of financial statements are likely to be interested in the financial statements of a small private company?
Stock market analysts
Company employees
The company’s bank
Institutional shareholders
Suppliers
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which TWO of the following information needs apply to the government and its agencies in relation to the business as a sole trader?
The government and its agencies need information to:
Establish levels of tax revenue
Assess whether the business will continue in existence
Assess the owner’s stewardship
Take decisions about the investment
National statistics
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