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Basic Accounting Questions

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Basic Accounting Questions

  • This topic has 0 replies, 1 voice, and was last updated 11 years ago by Louise.
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  • April 28, 2014 at 10:49 am #166554
    Louise
    Member
    • Topics: 1
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    • ☆

    1) Which of the following is true in all cases? All UK public companies MUST prepare their accounts using IFRSs or IFRSs once adopted/ratified by the EU will be incorporated in the relevant laws of the member states?

    2) Does it make sense that a large organisation importing exotic items to the UK, would take the legal form of a company limited by shares? Or would it make more sense if it was limited by Guantee?

    3) A company starting with capital of 20,000 – makes 30,000 net profit, and owner makes dawings of 10,000. Capital at end of year – should be capital+profit-drawings? Is this the correct sum?

    4) Which two PEST (Social/Demographic, Economic, Technological, Political/Legal) analysis classify the effects of the following?
    “The introduction of a new tax by the UK Government on exisiting imports of a specific plant essence used extensively by a shampoo manufacturer to make products, for which the essence is essential and for which there is no substitute”.

    Thankyou to anyone who offers any help.

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