Free BA3 Exam Braindumps (page: 37)

Page 37 of 99

Refer to the exhibit.



ABC issued 200,000 $0.50 equity shares at a price of $1.80. This amount was received in cash

What is the correct journal to record this issue?

  1. A
  2. B
  3. C
  4. D

Answer(s): D



Which TWO of the following are responsibilities of the IFRS interpretations committee?

  1. Issuing draft interpretations of the standards for public comment
  2. Communicating the views of the wider public on the ongoing projects to the IASB
  3. Taking decisions on finalising an interpretation of the standards
  4. Preparing and publishing the international financial reporting standards

Answer(s): A,C



Refer to the exhibit.



A business has the following capital and long-term liabilities:

It calculates its gearing ratio as the proportion of debt to total capital.

At the end of the current year, its gearing ratio, compared with that of the previous year, is:

  1. Higher, resulting in greater risk for shareholders
  2. Higher, resulting in greater security for shareholders
  3. Lower, resulting in greater security for shareholders
  4. The same as the previous year

Answer(s): A



Which one of the following will not be found in a statement of changes in equity?

  1. General reserve
  2. Ordinary shares
  3. Debentures
  4. Share premium account

Answer(s): C



Page 37 of 99



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Anonymous User commented on May 05, 2024
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