QUESTION: 5

Which of the following defines the calculation of interest cover?

Profit before interest and tax divided by finance costs
Finance costs divided by profit before interest and tax
Profit after tax divided by finance costs
Finance costs divided by profit after tax

Answer(s): A

CORRECT TEXT
In recent years EBITDA has been adopted by large entities as a key measure of performance. The following figures have been extracted from the financial statements of UV for the year ended 30 November 20X9:
What is EBITDA for UV for the year ended 30 November 20X9? Give your answer to the nearest $'000.

61500, 61500000

Answer(s): A

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QUESTION: 7

Which of the following is NOT an example of an unconsolidated structured entity as defined in IFRS12 Disclosure of Interests in Other Entities?

A post-employment benefit plan
A securitisation vehicle
An asset-backed financing scheme
An investment fund

Answer(s): A

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QUESTION: 8

Which THREE of the following statements about preference shares are true?

For an investor, preference shares carry more risk than ordinary shares.
Unlike ordinary shares, preference shares may be cumulative.
The characteristics of preference shares are closer to debt than equity.
Preference shares cannot be issued as redeemable shares.
Preference shareholders receive their dividend entitlement before the equity shareholders.
Preference shareholders rank below the equity shareholders in a winding up.

Answer(s): B,C,E

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QUESTION: 5

QUESTION: 6

QUESTION: 7

QUESTION: 8

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