For a standard sale process, what is a good time budget?对于标准销售流程,正常的周期是多长时间?()
A.Twomonths两个月
B.Sixmonths六个月
C.14months14个月
D.16months16个月
A.Twomonths两个月
B.Sixmonths六个月
C.14months14个月
D.16months16个月
(b) During the inventory count on 31 December, some goods which had cost $80,000 were found to be damaged.
In February 2005 the damaged goods were sold for $85,000 by an agent who received a 10% commission out
of the sale proceeds. (2 marks)
Required:
Advise the directors on the correct treatment of these matters, stating the relevant accounting standard which
justifies your answer in each case.
NOTE: The mark allocation is shown against each of the three matters.
Required:
(a) (i) Discuss the main weaknesses in the current standard on revenue recognition; (11 marks)
(ii) Discuss the reasons why it might be relevant to take into account credit risk and the time value of money in assessing revenue recognition. (5 marks)
Professional marks will be awarded in part (a) for clarity and expression of your discussion. (2 marks)
(b) (i) Venue enters into a contract with a customer to provide computers at a value of $1 million. The terms are that payment is due one month after the sale of the goods. On the basis of experience with other contractors with similar characteristics, Venue considers that there is a 5% risk that the customer will not pay the amount due after the goods have been delivered and the property transferred. Venue subsequently felt that the financial condition of the customer has deteriorated and that the trade receivable is further impaired by $100,000.
(ii) Venue has also sold a computer hardware system to a customer and, because of the current difficulties in the market, Venue has agreed to defer receipt of the selling price of $2 million until two years after the hardware has been transferred to the customer.
Venue has also been offering discounts to customers if products were sold with terms whereby payment was due now but the transfer of the product was made in one year. A sale had been made under these terms and payment of $3 million had been received. A discount rate of 4% should be used in any calculations.
Required: Discuss how both of the above transactions would be treated in subsequent financial statements under IAS 18 and also whether there would be difference in treatment if the collectability of the debt and the time value of money were taken into account. (7 marks)
The medicine is on sale everywhere. You can get it at ________ chemists.
A.each
B.some
C.certain
D.any
(iii) Advice in connection with the sale of the manufacturing premises by Tethys Ltd; (7 marks)
(ii) A proposal which will increase the after tax proceeds from the sale of the Snapper plc loan stock and a
reasoned recommendation of a more appropriate form. of external finance. (3 marks)
Part A
Directions:
Suppose you are going to graduate. You want to hold a yard sale before you leave. Write a poster to advertise your sale, providing the following information:
1) time and place of the sale,
2) items for sale, and
3) ways to contact you.
You should write about 100 words neatly on ANSWER SHEET 2. Do not sign your own name. Use “Li Ming” instead. (10 points)
A.Purchase of equipment with cash
B.Payment of the liability with cash
C.Investment of cash in the business by the owner.
D.Sale of equipment for cash at cost
A.has risen
B.had been rising
C.had risen
D.has been rising
A.A.Flash Deals
B.B.Handled by AliExpress
C.C.Hot sale
D.D.Featured Brand
A.Only accounts receivabl
B.Accounts receivable and inventory.
C.Accounts receivable and cost of goods sol
D.Accounts receivable, cost of goods sold, and inventory.