BA3 Exam Dumps - Fundamentals of financial accounting

The financial accounts, as prepared by the directors of a company, are required to show a 'true and fair view'. This means that:

Which of the following are likely examples of accrued expenses:

Refer to the Exhibit.

A company operates a FIFO system of inventory valuation. Opening inventory at the beginning of the period was 200 units @ £2.80 each. During the period the following movements of inventory were recorded.

The value of the closing inventory at the end of the period and amount charged to the income statement were:

A business has expanded rapidly during the current year. As a result the accounting records have been building up and the management accountant is having problems producing reports for each department head.

Which of the following would be the best solution if introduced?

ABC produces accounts lo the year ended 31 December annually Extracts from the most recent financial statements are.

Calculate the average inventory days ratio for the year ended 31 December 20X4.

Give your answer to the nearest day

Refer to the Exhibit.

The following information is given at a manufacturer's year end:

Using some or all of the above figures, the correct figure for factory cost of goods completed is:

Refer to the exhibit.

A company has the following debt in the statement of financial position

The finance cost to be charged to the income statement is

Refer to the exhibit.

The bookkeeper of Joshua Ltd has absconded with the petty cash. The following was available:

How much has the bookkeeper stolen during the year?