[Mel]

Thank you Sir for your help.

I will rewatch the lectures. 🙂

And Ruksar, I know how confusing all this can be. One minute I seem to understand all the variances, the other I am completely lost.

Good luck and thanks again Mr Moffat for the great help.

[Mel]

Sorry for posting in the wrong forum. I pressed on Ask the tutor then I dont know what I did.

But thanks so much for answering, this was bugging me.

You do a great job Sir, it is amazing for us students.

[Mel]

Thanks a lot for the clear explanation.

I love your site and spend hours on it, so helpful, so insightful

[Mel]

Hi , can you please help me with the following:

Which of the following should be recorded as a provision?

A: Legislation which will come into force in the next financial year requires a company to improve its safety equipment. The company wishes to provide for the cost of the improvements in the accounts in the current financial year.

B: The company has caused environmental damage and the law requires that they pay to restore the site.

I answered B but the answer is A.

Can you please help me understand.

Thanks a lot

[Mel]

Thank you very much to both of you.

Keep up the excellent work, it is priceless.

[Mel]

Dear Mr Moffat,

I would like to ask something else on that topic.

What would the answer be to the following question:

Within which heading in the statement of profit and loss would TRADE DISCOUNT ALLOWED be included?

A Cost of Sales
B Sales revenue
C Administration Expenses.

A tutor gave me the answer as Administration Expenses.

I was just wondering if we do have to account the trade discount allowed, wouldn’t it affect the sales revenue, that is decrease it? Help, please, I am confused.

Thanks

[Mel]

Sorry I chose the wrong forum but thanks so much for replying.

I chose tactical but then saw kaplan’s answer and thought I got it wrong.

Once again thanks for your quick help

[Mel]

I would also like to have some explanation concerning answer 1
count the number of invoices issued each week.
Why is it secondary?
Counting the invoices is not the specific purpose? That is primary.

Thanks for any clarification

[Author]

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