题目内容（请给出正确答案）

[主观题]

5 An enterprise has made a material change to an accounting policy in preparing its curren

t financial statements.

Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimates

and errors in these financial statements？

1 The reasons for the change.

2 The amount of the consequent adjustment in the current period and in comparative information for prior periods.

3 An estimate of the effect of the change on future periods, where possible.

A 1 and 2 only

B 1 and 3 only

C 2 and 3 only

D All three items

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更多“5 An enterprise has made a mat…”相关的问题

第1题

A Chinese company has borrowed a USD500,000 loan from an overseas bank. Interest on the lo

an is accrued and paid annually at the rate of 12% per annum. The relevant business tax rate is 5% and neither surcharges nor treaty relief apply.

What is the amount of enterprise income tax (EIT) the Chinese borrower needs to withhold from the annual interest paid to the overseas bank？

A.USD6,000

B.USD15,000

C.USD5,700

D.USD14,250

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第2题

5 Gagarin wishes to persuade a number of wealthy individuals who are business contacts to

invest in his company,

Vostok Ltd. He also requires advice on the recoverability of input tax relating to the purchase of new premises.

The following information has been obtained from a meeting with Gagarin.

Vostok Ltd:

– An unquoted UK resident company.

– Gagarin owns 100% of the company’s ordinary share capital.

– Has 18 employees.

– Provides computer based services to commercial companies.

– Requires additional funds to finance its expansion.

Funds required by Vostok Ltd:

– Vostok Ltd needs to raise ￡420,000.

– Vostok Ltd will issue 20,000 shares at ￡21 per share on 31 August 2008.

– The new shareholder(s) will own 40% of the company.

– Part of the money raised will contribute towards the purchase of new premises for use by Vostok Ltd.

Gagarin’s initial thoughts:

– The minimum investment will be 5,000 shares and payment will be made in full on subscription.

– Gagarin has a number of wealthy business contacts who may be interested in investing.

– Gagarin has heard that it may be possible to obtain tax relief for up to 60% of the investment via the enterprise

investment scheme.

Wealthy business contacts:

– Are all UK resident higher rate taxpayers.

– May wish to borrow the funds to invest in Vostok Ltd if there is a tax incentive to do so.

New premises:

– Will cost ￡446,500 including value added tax (VAT).

– Will be used in connection with all aspects of Vostok Ltd’s business.

– Will be sold for ￡600,000 plus VAT in six years time.

– Vostok Ltd will waive the VAT exemption on the sale of the building.

The VAT position of Vostok Ltd:

– In the year ending 31 March 2009, 28% of Vostok Ltd’s supplies will be exempt for the purposes of VAT.

– This percentage is expected to reduce over the next few years.

– Irrecoverable input tax due to the company’s partially exempt status exceeds the de minimis limits.

Required:

(a) Prepare notes for Gagarin to use when speaking to potential investors. The notes should include:

(i) The tax incentives immediately available in respect of the amount invested in shares issued in

accordance with the enterprise investment scheme; (5 marks)

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第3题

In January 2011 Mr Fang, the owner of a private enterprise, entered into a loan agreement

and a mortgage agreement with a local credit association (Credit Association) to borrow RMB 2 million yuan for one year to meet the needs of his business operation, and provided his own house as the subject matter under the mortgage agreement. After the conclusion of the mortgage agreement, Mr Fang and Credit Association went to register the mortgage agreement with the local real estate registration centre.

In June 2011 Mr Fang leased the same house to Ms Lee for a period of two years.

Due to the sudden change of the market and poor operation of his enterprise, Mr Fang was unable to repay the principal and interest as agreed when the loan matured at the end of January 2012. Credit Association filed a lawsuit in the people’s court and obtained a judgement in favour of its claim for the principal RMB 2 million yuan plus interest.

Credit Association then advised Ms Lee to leave the house, as it has been authorised by the people’s court to organise a public auction to sell the house for the enforcement of the judgement. Ms Lee refused to leave the house on the grounds that the lease agreement was an effective one between Mr Fang and herself and would last until the end of June 2013. In addition, Credit Association’s right of mortgagee should not affect her right under the lease agreement.

Required:

Answer the following questions in accordance with the relevant provisions of the Property Law, and give your reasons for your answer:

(a) state whether Ms Lee’s grounds for refusal to leave the house can be established. (5 marks)

(b) state how Ms Lee should deal with the current situation. (5 marks)

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第4题

The accountant of Zeta Ltd altered the amount charged on an invoice for purchases from RMB

50 to RMB50,000 so as to increase the deduction for enterprise income tax (EIT).

What is the type of offence Zeta Ltd has committed under the Tax Collection and Administrative Law？

A.Transfer pricing

B.Tax avoidance

C.Tax evasion

D.Fraudulence in the issuance of an invoice

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第5题

According to the Enterprise Bankruptcy Law, the bankruptcy administrator has the right to

plead to the court to revoke some transactions occurring within six months prior to the court accepting the application for bankruptcy with regard to the debtor’s assets. Which of the following is such a transaction？

A.Providing a guarantee to its subsidiaries

B.Giving up the creditor’s rights

C.Trading with its connected enterprises

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第6题

（a) Mr Xu, a domestic Chinese, is a designer. He is considering the following four options

(a) Mr Xu, a domestic Chinese, is a designer. He is considering the following four options:

Option A: Joining Delta Ltd as a manager with a monthly salary of RMB40,000 and an annual bonus of RMB100,000 payable in December each year.

Option B: Providing services to Delta Ltd as a consultant for a consultancy fee of RMB50,000 per month.

Option C: Setting up his own sole proprietorship. He will pay himself a monthly salary of RMB20,000 from this sole proprietorship. For 2014 the net profit of the sole proprietorship after charging Mr Xu’s salary is expected to be RMB420,000.

Option D: Setting up a limited company, Xupa Ltd. He will pay himself a monthly salary of RMB20,000 from Xupa Ltd. For 2014 the net profit of the company after charging Mr Xu’s salary is expected to be RMB420,000. Xupa Ltd will pay enterprise income tax at the rate of 25% and distribute all of its profit after tax to its shareholder, Mr Xu, as a dividend.

Required:

Calculate the individual income tax (IIT) payable by Mr Xu for 2014 under each of the four options.

Note: Ignore value added tax and business tax. (10 marks)

(b) State, giving reasons, whether the following persons will be subject to individual income tax in China on their worldwide income in 2014:

(1) Ms Wang has her household in Xiamen and holds a China identity card. She has been studying in Australia since 2010 and has not returned to China for the last six years, including in 2014.

(2) Mr Beth is a US citizen, who has lived in China working for a non-government organisation since 2010. He has not travelled outside China for the last six years, including in 2014.

(3) Ms Ruth is an Australian citizen. She travelled to China and stayed in China for a total of 250 days in 2014. (5 marks)

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第7题

Due to a failure to pay its debts, in October 2014 the court accepted an application for b

ankruptcy by the creditors of Hangle Garment Co and designated a bankruptcy administrator. The bankruptcy administrator found that:

(i) Hangle Garment Co had given up a credit of RMB 500,000 yuan owed by its affiliate enterprise in August 2013;

(ii) Some shareholders of Hangle Garment Co failed to make full capital contributions as prescribed in the articles of association of the company;

(iii) There was a contract between Hangle Garment Co and Bright Department Store, which was concluded before the bankruptcy application was accepted and had been partly performed.

Required:

In accordance with the Enterprise Bankruptcy Law of China:

(a) State whether the action of giving up credit could be revoked during the process of liquidation. (2 marks)

(b) State how the lack of full capital contributions by some of the shareholders of the company should be dealt with. (2 marks)

(c) State what right the bankruptcy administrator has regarding the partly-performed contract between Hangle Garment Co and Bright Department Store. (2 marks)

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第8题

The Xinhua bookstore chain, China's largest official publishing enterprise, has become a s

urprising flash point for interest among foreign venture capital investors. "We are actively promoting the process of shareholding reform. Everyday, we receive lots of offers from domestic and foreign investors interested in getting involved and may pick one or two to do so in the next two to three months," Zhang Yashan, the leading cadre of the head store's office said. According to a Company insider who requested anonymity, several securities firms are overseeing Xinhua bookstore's reform. and the company could list on the domestic stock market once reforms are reported to the government in May and then completed. The source would not reveal the specific names of the firms involved or details of the reform. "We will stipulate that we must remain the majority shareholder, but we will welcome all kinds of investment, including foreign capital, to establish a shareholding enterprise. We hope the No. 2 shareholder will be a foreign enterprise," the source said. In keeping with its World Trade Organization entry promises, China must allow foreign investment in domestic publication retailers by the end of this year.Which is NOT the right word used to describe Xinhua bookstore？A.Largest. B.Official. C.Private. D.Prosperous.

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第9题

According to the Enterprise Bankruptcy Law, where an enterprise is unable to pay off its d

ebts, the relevant parties may reach an agreement for rectification, rather than immediately liquidating the debtor’s assets. Which of the following may apply to the court for rectification？

A.Debtors

B.Creditors representing 5% or less of the total creditors’ rights

C.The bankruptcy administrator

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第10题

A corporate taxpayer has under-reported its taxable revenue in 2002 and hence underpaid va

lue added tax (VAT) and enterprise income tax (EIT). In 2014, the taxpayer was charged by the tax authority with committing an act of tax evasion in 2002.

Which of the following statements is correct？

A.The taxpayer must pay the additional taxes due, plus a late payment surcharge and a penalty

B.There is no need for the taxpayer to pay any additional taxes, late payment surcharge or penalty as the statute of limitation is ten years

C.The taxpayer must pay the additional taxes, but no late payment surcharge or penalty as the statute of limitation is ten years for late payment surcharge and penalties

D.The taxpayer must pay the additional taxes and a late payment surcharge but not a penalty as the statute of limitation is five years for penalties

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