September, 2022 ATS Part II Financial Accounting Past Questions

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September, 2022

TWO examples of intangible asset are _ and _.

September, 2022

The events that occur between the reporting date and the date when the financial statements are authorised for issue is known as _____________.

September, 2022

In a not-for-profit organisation, the excess of expenditure over income is called __________.

September, 2022

TWO Fundamental principles set out in the professional code of ethics are _ and _.

September, 2022

TWO of the threats identified by the International Federation of Accountants (IFAC) that may affect professional accountants from compliance with ethical behaviour are and ___.

September, 2022

The initial trial balance which incorporate details of accounting adjustment made and financial statement summary is referred to as ________________.

September, 2022

The account prepared for partners but not required for sole traders is ________________.

September, 2022

The formula for computing inventory turnover ratio is ____________________.

September, 2022

Interest received should be classified in Statement of Cash Flows as _________ activity.

September, 2022

The formula for calculating dividend yield is known as _______________.

September, 2022

Excess of current assets over current liabilities is called _____________.

September, 2022

A listing of balances of all the accounts in a double entry system divided into debit and credit columns is called _____________.

September, 2022

When a trial balance fails to agree due to the effect of some yet to be identified errors, the difference is recorded in the __________ account.

September, 2022

The two methods of preparing cash flow statements as stipulated by IAS 7 are and _.

September, 2022

The aggregate of ordinary share capital and reserves of a company is also referred to as ___________.

September, 2022

TWOerrors that would not affect the agreement of a trial balance are __ and _.

September, 2022

The type of shares that carried voting rights in a company is called ____________.

September, 2022

The accounting entries for assets taken over by a partner at partnership dissolution are and __.

September, 2022

Credit balance carried down in the subscriptions account of a not-for-profit organisation at the end of an accounting year is ____________.

September, 2022

Assets held for resale in the ordinary course of business are called ____________.

September, 2022 ATS Part II Financial Accounting Past Questions

TWO examples of intangible asset are ___________ and ___________.

The events that occur between the reporting date and the date when the financial statements are authorised for issue is known as _____________.

In a not-for-profit organisation, the excess of expenditure over income is called __________.

TWO Fundamental principles set out in the professional code of ethics are ___________ and ___________.

TWO of the threats identified by the International Federation of Accountants (IFAC) that may affect professional accountants from compliance with ethical behaviour are __________ and _____________.

The initial trial balance which incorporate details of accounting adjustment made and financial statement summary is referred to as ________________.

The account prepared for partners but not required for sole traders is ________________.

The formula for computing inventory turnover ratio is ____________________.

Interest received should be classified in Statement of Cash Flows as _________ activity.

The formula for calculating dividend yield is known as _______________.

Excess of current assets over current liabilities is called _____________.

A listing of balances of all the accounts in a double entry system divided into debit and credit columns is called _____________.

When a trial balance fails to agree due to the effect of some yet to be identified errors, the difference is recorded in the __________ account.

The two methods of preparing cash flow statements as stipulated by IAS 7 are__________ and ___________.

The aggregate of ordinary share capital and reserves of a company is also referred to as ___________.

TWOerrors that would not affect the agreement of a trial balance are ____________ and ___________.

The type of shares that carried voting rights in a company is called ____________.

The accounting entries for assets taken over by a partner at partnership dissolution are ____________ and ______________.

Credit balance carried down in the subscriptions account of a not-for-profit organisation at the end of an accounting year is ____________.

Assets held for resale in the ordinary course of business are called ____________.

TWO examples of intangible asset are _ and _.

TWO Fundamental principles set out in the professional code of ethics are _ and _.

TWO of the threats identified by the International Federation of Accountants (IFAC) that may affect professional accountants from compliance with ethical behaviour are and ___.

The two methods of preparing cash flow statements as stipulated by IAS 7 are and _.

TWOerrors that would not affect the agreement of a trial balance are __ and _.

The accounting entries for assets taken over by a partner at partnership dissolution are and __.