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Q6-3: A business has the following balances in its financial records: Income tax £30,000; Selling & administration expenses £80,000; Revenue £350,000; Interest expenses £15,000; Cost of Sales £190,000. Which of the following is correct?
Question options:
Gross profit £160,000; Operating profit £80,000; Net profit after tax £35,000
Gross profit £80,000; Operating profit £65,000; Net profit after tax £35,000
Gross profit £80,000; Operating profit £65,000; Net profit after tax £35,000
Q6-6: ABC buys a smaller company XYZ for a negotiated price of £1 million. XYZ’s assets are valued at £750,000. Assuming goodwill is amortized over 5 years, the value of goodwill in ABC’s Statement of Financial Position at the end of the third year after acquisition will be:
Question options:
£100,000
£150,000
£400,000
Q7-1: The difference between ROI and ROCE ratios is due to:
Question options:
Interest, tax and long-term debt
Tax and shareholders’ funds
Long-term debt and shareholders’ funds
Interest and long-term debt
Q7-2: Use the following information extracted from ABC’s Income Statement and Balance sheet and match the item with the correct calculation.
Sales £4,200,000; Gross profit £2,700,000; Receivables £630,000; Payables £275,000; Inventory £300,000. ABC calculates its financial ratios based on being open for business 6 days per week for 50 weeks per year.
____
5
____
55
____
45
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2.
3.
Q7-3: A company has capital employed of €1,000,000 and generates a profit after tax of €300,000. The change in return on investment between a Balance Sheet with 60% debt and one with 40% debt is:
Question options:
From 75% to 50%
From 50% to 75%
Q8-2: In a manufacturing business, the completion of production results in the following flow of costs for inventory:
Question options:
Decrease work in progress and increase cost of sales
Decrease work in progress and increase finished goods
Decrease finished goods and increase cost of sales
Q8-3: A business purchases inventory stock on four separate occasions. Purchased 3,500 units at a total cost of €8,050; Purchased 3,000 units at a total cost of €7,110; Purchased 4,000 units at a total cost of €9,600; and Sold 5,995 units at a total price of €24,760. Each purchase was completed in the order provided within the same period. Match the inventory method with the correct cost of sales and the correct value of inventory.
____
€13,963
____
€4,082
____
€3,896.75
____
€14,148.20
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2.
3.
4.
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