职上网在线题库 > ACCA英国注册会计师试题 > F2 > Chapter6 > In the yea...

In the year ended 31 August 20X4, Aplus; records show closing inventory of 1,000 units compared to 950 units of opening inventory. Which of the following statements is true assuming that prices have fallen throughout the year?

A

Closing inventory and profit are higher using FIFO rather than AVCO

B

Closing inventory and profit are lower using FIFO rather than AVCO

C

Closing inventory is higher and profit lower using FIFO rather than AVCO

D

Closing inventory is lower and profit higher using FIFO rather than AVCO

扫码查看暗号，即可获得解锁答案！

在此输入暗号

点击获取答案

Chapter6Accountingformaterials

If prices have fallen during the year； AVCO will give a higher value of closing inventory than FIFO, which values goods for resale at the latest prices.Where the value of closing inventory is higher, profits are higher.

多做几道

Which of the following statements about management accounting information is/are true?

(i) They must be stated in purely monetary terms.

(ii) Limited companies must, by law, prepare management accounts.

(iii) They serve as a future planning tool and are not used as an historical record.

A

(i), (ii) and (iii)

B

(i) and (ii)

C

(ii) only

D

None of the statements is true

Which of the following statements is/are correct?

(i) A management control system is a term used to describe the hardware and software used to drive a database system which produces information outputs that are easily assimilated by management.

(ii) An objective is a course of action that an organisation might pursue in order to achieve its strategy.

(iii) Information is data that has been processed into a form meaningful to the recipient.

A

(i), (ii) and (iii)

B

(i) and (iii)

C

(ii) and (iii)

D

(iii) only

Good information should have certain qualities. Which of the following are qualities of good information?(i) Complete(ii) Extensive(iii) Relevant(iv) Accurate

A

(i), (ii) and (iii)

B

(i), (iii) and (iv)

C

(ii) and (iv)

D

All of them

Monthly variance reports are an example of which one of the following types of management information?

A

Tactical

B

Strategic

C

Non-financial

D

Operational

Which of the following statements is/are correct?

(i) Information for decision-making should incorporate uncertainty in some way

(ii) The data used to prepare financial accounts and management accounts are the

A

(i) is true and (ii) is false

B

(ii) is true and (i) is false

C

Both are true

D

Both are false

最新试题

该科目易错题

该题目相似题

The following production and total cost information relates to a single product organisation for the last three months:Month Production Total cost units $ 1 1,200 66,600 2 900 58,200 3 1,400 68,200The variable cost per unit is constant up to a production level of 2,000 units per month but a step up of $6,000 in the monthly total fixed cost occurs when production reaches 1,100 units per month.What is the total cost for a month when 1,000 units are produced?A$54,200B$55,000C$59,000D$60,200
The following information for advertising and sales has been established over the past six months： Month Sales revenue Advertising expenditure $'000 $'000 1 155 3 2 125 2.5 3 200 6 4 175 5.5 5 150 .5 6 225 6.5Using the high-low method which of the following is the correct equation for linking advertising and sales from the above data?ASales revenue = 62,500 + (25 x advertising expenditure)BAdvertising expenditure = - 2,500 + (0.04 x sales revenue)CSales revenue = 95,000 + (20 x advertising expenditure)DAdvertising expenditure = - 4,750 + (0.05 x sales revenue)
A company produces and sells a single product whose variable cost is $6 per unit.Fixed costs have been absorbed over the normal level of activity of 200,000 units and have been calculated as $2 per unit.The current selling price is $10 per unit.How much profit is made under marginal costing if the company sells 250,000 units?A$500,000B$600,000C$900,000D$1,000,000
The following information is available for a hotel company for the latest thirty day period.Number of rooms available per night 40Percentage occupancy achieved 65%Room servicing cost incurred $3,900What was the room servicing cost per occupied room-night last period, to the nearest cent?A$3.25B$5.00C$97.50D$150.00
Which of the following would be considered a service industry?(i) An airline company(ii) A railway company(iii) A firm of accountantsA(i) and (ii) onlyB(i) and (iii) onlyC(i), (ii) and (iii) D(ii) and (iii) only
In calculating the regression equation linking two variables, the standard formulae for the regression coefficients are given in terms of X and Y. Which of the following is true?AX must be the variable which will be forecastBIt does not matter which variable is whichCY must be the dependent variableDY must be the variable shown on the vertical
Unemployment numbers actually recorded in a town for the second quarter of the year 2000 were 4,700. The underlying trend at this point was 4,300 people and the seasonal factor is 0.92. Using the multiplicative model for seasonal adjustment, what is the seasonally-adjusted figure (in whole numbers) for the quarter?A3,932B3,956C5,068D5,109
Which of the following best describes a top-down budget?AA budget which has been set by scaling down individual expenditure items until the total budgeted expenditure can be met from available resourcesBA budget which is set by delegating authority from top management, allowing budget holders to participate in setting their own budgetsCA budget which is set without permitting the ultimate budget holder to participate in the budgeting processDA budget which is set within the framework of strategic plans determined by top management
House prices rise at 2% per calendar month. What is the annual rate of increase correct to one decimal place?A24%B26.8%C12.7%D12.2%
The costs below relate to the month of June. Fixed budget Flexed budget Actual 2,200 units 2,000 units 2,000 unitsTotal direct materials $165,000 $150,000 $140,000What was the total direct material variance?A$10,000 AdverseB$10,000 FavourableC$25,000 AdverseD$25,000 Favourable