[kicek7]

Business model whose objective is achieved by BOTH collecting contractual CF and selling financial assets -> FV through OCI

[kicek7]

New article appeared today about IAS 21. Do you think it can be examined as current issue question or rather to expect in in Q1-Q3?

[kicek7]

@aminb001 said:
What was the answer to the MCQ that involved working out MV of Irredeemable loan using before tax rate?

I remember that i chose 90, but wasn’t sure

[kicek7]

@pinkyjovin123 said:
Mcq there were given weak form,semi strong and strong form.
I chose strong form …something about abnormal returns if we use inside information something like that

Correct answer was that semi-strong reflects all past/historical information. Abnormal results cannot be made using inside information if the market is in strong form of efficiency.

[kicek7]

76% 1st attempt 🙂

[kicek7]

@sharna said:
Hello!
Does anyone remember What was question no. 16(c) about ?
Actually I can’t recall it

16(c) was audit risks and auditor’s responses

Q16
a) factors to consider before accepting…
b) calculate ratios
c) audit risks and responses
d) confidentiality issues

[kicek7]

@kerrimcm1 said:
Re the MCQ on the audit opinion, I put unmodified and other matters paragraph as it didn’t mention anywhere that the issue was large enough to affect the going concern of the business so assumed the material uncertainty re going concern wasn’t correct and as it had been adequately disclosed, thought it was only necessary to draw attention to it using other matter? Anyone else think this?

Other matter paragraph is used for matters other than those in FS and this matter was disclosed in FS, therefore material uncertainty to going concern was the right option.

[kicek7]

I described storing cash is small safe overnight as a deficiency, because it can be stolen. I proposed…built-in wall safe 😀 Do you think I will get any mark for that one? 🙂

[kicek7]

I also remembered, one tricky question asking for two sentences which are INCONSISTENT with the data provided. But i totally forgot what was the answers.

[kicek7]

@kanchandhankar said:
There was one Mcq about revenue’s assertion

Yes, i think i chosen d) cut-off

Or i just mixed up two questions, was there a question with test for cut-off and the correct answer was d? 😉

[kicek7]

Question 18
Part d) What opinion type have you proposed? Qualified with ‘except for’ ?

[kicek7]

One MCQ was about opinion which should be given, I chosed unmodified with material uncertainty

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