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Which stakeholder will not find the schedule of non-current assets useful? [1 mark] ADebenture holders BExisting shareholders CLocal community DPotential investors Which of the following is an example of an error of principle? AAn invoice for machinery repairs posted to the machinery cost account. [1 mark] BAn invoice for machinery repairs posted to the rent and rates account. CA sales invoice not recorded in the sales journal. DA sales invoice posted t...

1.The cubic equation x3 – 7x2 – 12x + 6 = 0 has roots α, β and γ. Without solving the equation, determine a cubic equation whose roots are (α + 2), (β + 2) and (γ + 2), giving your answer in the form w3 + pw2 + qw + r = 0 , where p, q and r are integers to be found. (5) (Total for Question 1 is 5 marks) 2.(a) Write x2 + 4x – 5 in the form...

Figure 1 initial line Figure 1 shows a sketch of the curve with polar equation r  2 sinh θ  cosh θ 0  θ  π The region R, shown shaded in Figure 1, is bounded by the initial line, the curve and the line with equation θ = π Use algebraic integration to determine the exact area of R giving your answer in the form peq – r where p, q and r are real numbers to be found. (4) ...

L.O.a: Describe corporate governance. 1. Which of the following is the most appropriate definition of corporate governance? A. A system of defined roles for management and the majority shareholders. B. A system of checks and balances to minimize the conflicting interests among shareowners. C. A system of internal controls and procedures by which individual companies are managed. 2. Analyst 1: Corporate governance is the system of internal controls and procedures by which individual compan...

LO.a: Evaluate a company’s past financial performance and explain how a company’s strategy is reflected in past financial performance. 1. Projections of future financial performance based on past results would be least reliable when a company: A. is large and operating in a mature industry. B. has just entered the industry. C. is operating in a stable industry. 2. An analyst uses the average net profit margin over the past three years of a heavy equipment manufacturing firm to foreca...

LO.a: Distinguish between financial reporting quality and quality of reported results (including quality of earnings, cash flow, and balance sheet items). 1. The information provided by a high quality financial report will least likely: A. contain information that is relevant, neutral, and free from error. B. decrease company value. C. help in assessing the earnings quality of a firm. 2. High quality financial reports least likely reflect: A. decision-useful information. B. earnings smoo...

LO.a: Determine the initial recognition, initial measurement and subsequent measurement of bonds. 1. A company raises debt in the form of bonds of £10 million face value. When bonds are issued, the company will record a: A. cash inflow from financing activities. B. cash outflow from financing activities. C. cash inflow from investing activities. 2. Federal Motors reports using US GAAP. If at the time of its latest bond issue, it incurs €20,000 in printing, legal fees, commissions and ...

LO.a: Describe the differences between accounting profit and taxable income, and define key terms, including deferred tax assets, deferred tax liabilities, valuation allowance, taxes payable, and income tax expense. 1. A company’s income tax expense: A. is equal to income tax payable + (net increase in deferred tax liabilities – net increase in deferred tax assets). B. appears on the balance sheet. C. is equal to income tax payable + net increase in deferred tax assets and liabilities...

LO.a: Distinguish between costs that are capitalized and costs that are expensed in the period in which they are incurred. 1. A company recently purchased a warehouse property and related equipment for €20 million. The company incurred the following additional costs: • €1.0 million for repairs to the building’s roof • €0.3 million to modify the interior layout to meet their needs (moving walls and doors, inserting and removing partitions, etc.) • €0.2 million on an orienta...

LO.a: Distinguish between costs included in inventories and costs recognized as expenses in the period in which they are incurred. 1. A company manufactures copper wires and prepares its financial statements in accordance with IFRS. During its latest full fiscal year, the company recorded the following data: Inventory Item Amount € Raw material copper costs 200,000 Storage of finished wires 50,000 Wasted copper materials from abnormal production errors during the year 25,000 Transpor...