Free BA3 Exam Braindumps (page: 30)

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Which THREE of the following are intrinsic elements of intangible assets?

  1. Without physical substance
  2. A resource controlled by an entity
  3. Is having its cost depreciated
  4. Has future economic benefits
  5. Has been in the entity's possession for at least one year

Answer(s): A,B,D



CORRECT TEXT

Refer to the exhibit.



The bookkeeper of Joshua Ltd has absconded with the petty cash. The following was available:

How much has the bookkeeper stolen during the year?

  1. See Explanation section for answer.

Answer(s): A

Explanation:

CORRECT TEXT IS: $7213



CORRECT TEXT

At 1 January 20X8 JKL has share capital of $500,000 and share premium $270,000. The nominal value of each equity share is 50 cents On 31 July 20X8 JKL made a 1 for 4 bonus issue.

What is the balance on share premium following the bonus issue of shares? Give your answer to the nearest $'000

  1. See Explanation section for answer.

Answer(s): A

Explanation:

CORRECT TEXT IS: $270,000



The IASB's Framework for the Preparation and Presentation of Financial Statements identifies four possible measurement bases for use in financial statements

Which of the following are those bases?

  1. historical cost, resale value, realizable value , present value
  2. historical cost, current cost, realizable value, present value
  3. historical cost, modified historical cost, realizable value, present value
  4. historical cost, modified historical cost, realizable value, current cost

Answer(s): B



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Anonymous User commented on May 05, 2024
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