Online Access Free BA3 Exam Questions

Refer to the exhibit.

A company has the following current assets and liabilities at its most recent year end:
When measured against standard acceptable levels for liquidity, the company can be said to have:

• A.Ideal current and acid test ratios
• B.A high current ratio and a low acid test ratio
• C.An ideal current ratio, but a low acid test ratio
• D.An ideal acid test ratio, but a high current ratio

UVW is preparing its manufacturing account for the year ended 30 June 20X7 The following information is available:

What is UVWs prime cost for year ended 30 June 20X7?

• A.$397,000
• B.$389,000
• C.$344,000
• D.$352,000

BCD has the following balances for the year ended 31 December 20X8:

What is the trade payables balance of BCD at 31 December 20X8? Give your answer to the nearest $"000.

Refer to the Exhibit.

Ax minster Limited is calculating its irrecoverable debt charge and allowance for receivables for inclusion in its year-end accounts. The current allowance for receivables is $28,600 and it is estimated that this needs to be raised to $30,400. There are also bad debts of $3,600 which should be written off.
Which is the correct entry to be made to the accounts to record these transactions?
The correct entry to be made to the accounts to record these transactions is:

• A.B
• B.D
• C.A
• D.C

There are four separate but related bodies which control the setting of International accounting standards (IFRS's).
Which THREE of the following are included in the standard setting process?

• A.International Accounting Standards Board (IASB)
• B.International Accounting Standards Committee Foundation (IASCF)
• C.Accounting Standards Board (ASB)
• D.International Financial Reporting Interpretations Committee (IFRIC)
• E.Chartered Institute of Management Accountants (CIMA)
• F.Financial Accounting Standards Board (FASB)