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@saajan said:
Dear, i wrote Disclaimer of opinion and the tutor on this site has also given the following comment in Ask the Tutor forum.
“Destruction of records means that audit work is likely to be imposSible on the inventory. Given the importance of inventory, this would lead to a disclaimer of opinion” 🙂Can u give me link ??
Can anyone tell me if question about opinion (in case of inventory) was discussed with ACCA tutor if yes, what was the right answer?
I also remember few MCQ
One was about VAT flat rate scheme and I pick answer 960 I am not sure
It stated that turnover was 10 000 exclusive VAT so I added VAT and then calculated VAT payableSecond was about wealth decrease, transfer of shares I pick 65 000
Third about exempt I pick fountain pen cost 40$
Fourth about taxable income of 120 000 , born before 1938 but i pick 120 000 because of 27 000 limit of income
Fifth NIC 4 I guess I pick 4432 or something like that it was A answer
Next, about tax avoidance and tax evasion I choose D it war NISA tax avoidance and Interest emission tax evasion
Next,about remaining nil rate band I choose 115 000
Next, about self asessment I choose 31 January 2017 but I think It is wrogn
Next, about exemptions also I choose D, It was NISA , NI&S saving certificate and bonds
Next, payment on account I dont remembr why but I choose 17 000
Next, about residence exemtion I choose 69 000 but now I think it was 72 000
Next about quantity of acco. for calculation of upper and lower limits for corporation tax purposes I choose 2 ( but there was tricky moment about purchase shares on 01.03.2015 and answer was in respect of 31.03.2015)
Next about shares market value I calculated 3.11 per share so 3110