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ok i remember now; there was one confusing question related to cut-off
I had chosen d for it which was about recording revenue in correct accounting year.
@tayyabom said:
do you remember its options, i vaguely remember but can’t recall.Options were something like sample of invoice to match with GDNs
Sample of GDNs to match with invoice
???@kicek7 said:
Yes, i think i chosen d) cut-offOr i just mixed up two questions, was there a question with test for cut-off and the correct answer was d? 😉
I think that was different Mcq about year end wages n salaries ???
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.
i chose d too that sales invoice should be matched with GDN and the line below that but can’t the wording – again was something to do with invoices and price list maybe?
@kanchandhankar said:
Options were something like sample of invoice to match with GDNs
Sample of GDNs to match with invoice
???This was for completeness of revenue wasnt it? could be confused…
Yes it was about occurrence
one of course is get sample of invoice to match with GDNs
other option i was not sure.
@kicek7 said:
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.For cut off – i went d? It said something like wages and salaries have been correctly allocated in the right year.
@kicek7 said:
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.i remember one answer i chose for this was that sales revenue had gone up whilst costs stayed the same as 2015 – i thought this was wrong as gross profit margin had dropped
@ash182 said:
For cut off – i went d? It said something like wages and salaries have been correctly allocated in the right year.I did the same. If you passed, I pass 🙂
@kicek7 said:
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.Yes I guess I chose
Slow down Inventory was better than last year
Sales price increased with same maintaining of cost
Both were inconsistent with the data given in q
As gross profit margin was falling
Inventory days were increased
@tayyabom said:
I did the same. If you passed, I pass 🙂i did D also
@kanchandhankar said:
Yes I guess I choseSlow down Inventory was better than last year
Sales price increased with same maintaining of cost
Both were inconsistent with the data given in q
As gross profit margin was falling
Inventory days were increased
Oh is this about Ratio Analysis Section (B) question? One simple guess can be that Gross Profit is increasing but net profit is not because COS is booked under Operating Expenses as they were clearly up.
@tayyabom said:
I did the same. If you passed, I pass 🙂I remember choosing d as well it was about cutoff relating wages
All wages were allocated in year xxxx something …l..?
@kanchandhankar said:
I remember choosing d as well it was about cutoff relating wagesAll wages were allocated in year xxxx something …l..?
thats the one 🙂
@tayyabom said:
Oh is this about Ratio Analysis Section (B) question? One simple guess can be that Gross Profit is increasing but net profit is not because COS is booked under Operating Expenses as they were clearly up.No
It was Mcq about inconsistent@kanchandhankar said:
Yes I guess I choseSlow down Inventory was better than last year
Sales price increased with same maintaining of cost
Both were inconsistent with the data given in q
As gross profit margin was falling
Inventory days were increased
yep had these two aswell as they were both inconsistent 🙂
@tayyabom said:
Oh is this about Ratio Analysis Section (B) question? One simple guess can be that Gross Profit is increasing but net profit is not because COS is booked under Operating Expenses as they were clearly up.This was just state and calculate 6 ratios – not too hard i thought!
@ash182 said:
This was just state and calculate 6 ratios – not too hard i thought!Yes six ratios
Still got one ratio wrong payable days I did payable /revenue :@I found last q of section b hardest about charity organisation insect4u
And spider spiral co one@kanchandhankar said:
Yes six ratios
Still got one ratio wrong payable days I did payable /revenue :@not to worry 🙂
@ash182 said:
not to worry 🙂Thanks 🙂
What was ur answer for q18 last q
About implication on audit report@kanchandhankar said:
Thanks 🙂What was ur answer for q18 last q
About implication on audit reportI did find this hard in approaching the answer. I cant remember the specifics, something around not disclosing the payment after year end?
I discussed various scenarios that would lead to various opinions, qualified, adverse, disclaimer. you?
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