______the financial means to remain independent Edison was compelled to seek employment as
A.He was deprived of
B.Deprived of
C.That he was deprived of
D.Although he was deprived of
A.He was deprived of
B.Deprived of
C.That he was deprived of
D.Although he was deprived of
W: First, financial statements are general-purpose statements. Secondly, the relationships between amounts on successive financial statements are not obvious without analysis. And thirdly, users of financial statements may be interested in seeing how well a company is performing.
Q: What are they talking about?
(17)
A.The methods of financial statements.
B.The necessity of careful analysis of financial statements
C.The relationship among financial statements.
D.The purpose of financial statements.
(b) Identify and explain the financial statement risks to be taken into account in planning the final audit.
(12 marks)
(b) Describe the potential benefits for Hugh Co in choosing to have a financial statement audit. (4 marks)
(b) Discuss the relative costs to the preparer and benefits to the users of financial statements of increased
disclosure of information in financial statements. (14 marks)
Quality of discussion and reasoning. (2 marks)
A.economical
B.economic
C.political
D.financial
(6)
A.The financial reporting is to provide information for the investors and lenders only.
B.The main aim of financial reporting is to offer information useful for decision-making.
C.Investment and lending decisions can be made from the financial reporting.
D.Investment and lending decisions can not be made from the financial reporting.
(b) (i) Discuss the relationship between the concepts of ‘business risk’ and ‘financial statement risk’; and
(4 marks)
A.Right
B.Wrong
C.Doesn't say
Which of the following financial instruments will NOT be traded on a money market?
A.Commercial paper
B.Convertible loan notes
C.Treasury bills
D.Certificates of deposit
A.As a deduction from retained earnings in the statement of changes in equity
B.As a liability in the statement of financial position
C.As an expense in profit or loss
D.As a loss in 'other comprehensive income