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Free BA3 Exam Braindumps (page: 26)

Page 25 of 99
PDF with 393 Questions

Which THREE of the following are improved by the use of accounting standards?

  1. Consistency
  2. Cash flow
  3. Comparability
  4. Performance
  5. Fair presentation
  6. Position

Answer(s): A,C,E



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?

  1. $352,000
  2. $344,000
  3. $389,000
  4. $397,000

Answer(s): A



Select the THREE INCORRECT statements from the following list of statements about memorandum accounts:

  1. A memorandum ledger is an account that is not part of the bookkeeping system as a whole
  2. All transactions in a memorandum account have to be balanced with a corresponding entry in the nominal ledger
  3. A memorandum account is part of the nominal ledger
  4. A memorandum account is a daybook

Answer(s): B,C,D



CORRECT TEXT

Refer to the Exhibit.



You have been asked to prepare the sales ledger control account for the month of May, using the following information:

According to the accounts the opening receivables balance was $ 66,250

What is the closing receivables balance as at the end of May?

  1. See Explanation section for answer.

Answer(s): A

Explanation:

CORRECT TEXT IS: $61867






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