Please use the space provided on the inside of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question. Which of the following is a DISADVANTAGE of recording accounting and control systems using internal control questionnaires? A They may contain a large number of irrelevant controls B It can be difficult to identify missing controls C They are time consuming to complete  Answer： A Internal control questionnaires can sometimes contain a large number of irrelevant controls; hence this is a disadvantage. B relates to disadvantages of using narrative notes and C is incorrect as questionnaires are quick to prepare. ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过cc关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： ACCA F1科目考试重点，必看！ ACCA这张证书价值究竟有多大？写给对ACCA仍不了解的童鞋们  

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple  choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet. Each question is worth 2 marks. Which of the following are financial intermediaries? (1) Venture capital organisation (2) Pension fund (3) Merchant bank A 2 only B 1 and 3 only C 2 and 3 only D 1, 2 and 3 Answer： D ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： 【考试攻略】最全ACCA笔考攻略（超详细） ACCA F1科目考试重点，必看！ ACCA会员权利 & 义务知多少

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet. Each question is worth 2 marks. Trasten Co operates in an emerging market with a fast-growing economy where prices increase frequently. Which of the following statements are true when using historical cost accounting compared to current value accounting in this type of market? (1) Capital employed which is calculated using historical costs is understated compared to current value capital employed (2) Historical cost profits are overstated in comparison to current value profits (3) Capital employed which is calculated using historical costs is overstated compared to current value capital employed (4) Historical cost profits are understated in comparison to current value profits A 1 and 2 B 1 and 4 C 2 and 3 D 3 and 4 Answer： A ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： ACCA这张证书价值究竟有多大？写给对ACCA仍不了解的童鞋们 ACCA F1科目考试重点，必看！

Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question. Each question is worth 2 marks Which of the following statements is correct? A Governments may choose to raise interest rates so that the level of general expenditure in the economy will increase B The normal yield curve slopes upward to reflect increasing compensation to investors for being unable to use their cash now C The yield on long-term loan notes is lower than the yield on short-term loan notes because long-term debt is less risky for a company than short-term debt D Expectations theory states that future interest rates reflect expectations of future inflation rate movements Answer： B ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： ACCA这张证书价值究竟有多大？写给对ACCA仍不了解的童鞋们 ACCA新手入门该如何安排学习计划？学习ACCA到底有什么收获？ ACCA会员权利 & 义务知多少  

Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to  each multiple choice question. Each question is worth 2 marks. Prisha has not kept accurate accounting records during the financial year. She had opening inventory of $6,700 and purchased goods costing $84,000 during the year. At the year end she had $5,400 left in inventory. All sales are made at a mark up on cost of 20%. What is Prisha’s gross profit for the year? A $13,750 B $17,060 C $16,540 D $20,675 Answer： B (6,700 + 84,000 – 5,400) x 20% = $17,060 ACCA特许公认会计师F段+学士学位【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣   更多精彩： ACCA准考证打印（附教程） 5大ACCA学习利器！ 【考试攻略】最全ACCA笔考攻略（超详细）  

Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question. The following are sanctions used against companies for potentially unlawful actions: 1 Investigation of its financial affairs by a government department or agency 2 Imposition of a fine by the government’s company registration body  3 Refusal of the external auditor to sign the financial accounts 4 Suspension of dealings in securities by the stock exchange  Which of the above are the consequences of a listed company failing to file its accounts? A 1 and 2 B 1 and 3 C 2 and 4 D 3 and 4 Answer： C The normal sanctions in such a case is that fines are imposed on companies by the registration body of the company and, where listed, the company may be delisted by the stock exchange authorities. Although the option wasn’t included, sanctions against responsible directors may also be imposed.  ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： ACCA准考证打印（附教程） 5大ACCA学习利器！  

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet. Each question is worth 2 marks. Country X uses the dollar as its currency and country Y uses the dinar. Country X’s expected inflation rate is 5% per year, compared to 2% per year in country Y. Country Y’s nominal interest  rate is 4% per year and the current spot exchange rate between the two countries is 1·5000 dinar per $1. According to the four-way equivalence model, which of the following statements is/are true? (1) Country X’s nominal interest rate should be 7·06% per year (2) The future (expected) spot rate after one year should be 1·4571 dinar per $1 (3) Country X’s real interest rate should be higher than that of country Y A 1 only B 1 and 2 only C 2 and 3 only D 1, 2 and 3 Answer: B1: (1·04 x 1·05/1·02) – 1 = 7·06% 2: 1·5 dinar x 1·02/1·05 = 1·4571 dinar/$ ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过

Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question. Each question is worth 2 marks Which of the following statements is correct? A A bonus issue can be used to raise new equity finance B A share repurchase scheme can increase both earnings per share and gearing C Miller and Modigliani argued that the financing decision is more important than the dividend decision D Shareholders usually have the power to increase dividends at annual general meetings of a company Answer： B ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： 【考试攻略】最全ACCA笔考攻略（超详细） ACCA F1科目考试重点，必看！ ACCA新手入门该如何安排学习计划？学习ACCA到底有什么收获？  

Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question. In an economic environment of high price inflation, those who owe money will gain and those who are owed money will lose. Is this statement true or false? A True B False Answer： A Where price inflation is high the value of money reduces consistently over time. Those who owe money (debtors) therefore pay back less capital in real terms, and interest rates seldom adjust adequately to compensate for this. ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： ACCA这张证书价值究竟有多大？写给对ACCA仍不了解的童鞋们 ACCA F1科目考试重点，必看！

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet. Each question is worth 2 marks. Top Trades Co has been trading for a number of years and is currently going through a period of expansion. An extract from the statement of cash flows for the year ended 31 December 20X7 for Top Trades Co is presented as follows:                                                                                                  $’000 Net cash from operating activities                                               995 Net cash used in investing activities                                          (540) Net cash used in financing activities                                          (200) Net increase in cash and cash equivalents                                  255 Cash and cash equivalents at the beginning of the period         200 Cash and cash equivalents at the end of the period                    455 Which of the following statements is correct according to the extract of Top Trades Co’s statement of cash flows? A The company has good working capital management B Net cash generated from financing activities has been used to fund the additions to non-current assets C Net cash generated from operating activities has been used to fund the additions to non-current assets D Existing non-current assets have been sold to cover the cost of the additions to non-current assets Answer：  C ACCA特许公认会计师F段+OBU本科学位班【签约班】 高级商业会计证书+英国牛津布鲁克斯大学学士学位 不过重读1年 查看折扣 ACCA特许公认会计师P段【签约班】 名师授课，签约过关有保障！不过免费重读1年 查看折扣 ACCA特许公认会计师全科【签约班】 名师授课，助您零基础直达ACCA初级 查看折扣 更多精彩： 【考试攻略】最全ACCA笔考攻略（超详细） 如何查询自己ACCA可以免考几科？