2022年ACCA-CAT考试模拟考试题.pdf

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1、2022年ACCA/CAT考试模拟考试题姓名:年级:学号:题型选择题填空题解答题判断题计算题附加题总分得分评卷入得分1、(i i)Comment on the figures in the statement p rep ared in(a)(i)above.(4 mark s)正确答案：(i i)The statement of p roduct p rofitabi I ity shows that CTC is forecast to achieve a p rofitof$2-185 mi I I ion in 2008 giving ap rof i t:sa Ies rat io

2、of 11,9%.H owever,the forecast p rof i t in 2009 i s on Iy$22,000 which wouldgive a p rofit:saIes ratio:lof just 0,19%!Tota I sales vo I ume in 2008 i s 39 0,000 units which rep resent 9 7 5%ut i I i sat ionof totaI annual cap acity.In stark contrast,the totaI sales volume in 2009 is forecast to be

3、240,000 units which rep resents60%uti Ii sat i on ofItotal annua I cap acity and shows the ex p ected rap id deci i ne in sales volumes of Bruno and Kongp roducts.The rap idi Idee I i ne i n the sa I es of these two p roducts is only offset to a relatively sma I I ex tent by i ncreasedsaIes voIume f

4、rom theLeo p roduct.It is vital that a new p roduct or p roducts with healthy contr ibut ion to saIes ratiosare i ntroduced.Management shouId a I so undertak e cost/benefit ana Iy ses i n order to assess the p otent i a I ofex tend i ng the Ii fe of Brunoand Kong p roducts.2、3 Damian is the f inance

5、 di rector of Linden Limited,a medium siz ed,unquoted,UK trading comp any,with a 31 Ju Iyy ear end.Damian p ersona I Iy owns 10%of the ord i nary i ssued share cap ita I of Linden Limited,for wh i ch he p a i d10,000 in June 19 9 8.H e estimates that the current mark et vaIue of Linden Limited is 9m

6、illion and that thecomp any wi I I mak e tax ab I e p rofits of 1 *4 mi I I ion i n the forthcoming y ear to 31 Ju I y 2007.(a)Dami an be I ieves that Li nden L imi ted shou I d conduct i ts act i vi t i es i n a soc i a I I y resp ons i b I emanner and to th i send has p rop osed that in future al

7、I cars p urchased by the comp any should be low emissionvehicles.The saIesd i rector has stated that severa I of h i s staff,who are the ma i n rec i p i ents of comp any cars,other than the d i rectors,are ex treme I y unhap p y with th i s p rop osa I,p erce i v i ng it as downgrad i ng the i r va

8、 I ue and status.The cars currently p rovided to the sales staff have a list p rice of 19,600,on which LindenLimited receives abu I k p urchase d i scount of 6%from the dea I er,and a C02 emission rate of 168 grams/k i lometre.The comp anyp ay s for up to 400 of accessor ies,of the salesmen,s own ch

9、oice to be fitted to the carsand a I I of the runn i ngcosts,including p r i vate p etroI.The cars are rep laced every three y ears and the old carsare sold at auction,because they are h i gh mi I eage veh i cIes.The Iow emi ss ion cars i t i s p rop osed to p urchase wi I I have the same I i st p r

10、 ice as the currentcars,but the dealeri s on I y p rep ared to offer a bulk d i scount of 5%on these vehicles.Damian does not p rop oseto mak e any otherchanges to Linden Limited s comp any car p olicy or p ractice.Requi red:(i)Ex p lain the tax consequences of the p rop osed move to low emission ve

11、hicles for both theindividualsalesmen and Linden Limited,iI lustrating y our answer by means of relevant calculations ofthe tax andnat i onaI i nsurance(NIC)sav i ngs ar i s i ng.(9 mark s)正确答案：(a)(i)I nd i vidua I saIesmenThe tax ab I e benefit i s determined by the I i st p r i ce of the veh i c I

12、 e p I us the cost of the accessor i es(20,000)and the C02emission rate.The current vehicIes have a C02 emission rate of 168 grams/k i lometre,so thebenefit will be calculatedat the rate of 20%(168-140)/5+15),resulting in a tota I annua I car and car fuel benefitcharge of 6,880(20,000 x 20%+14,400 x

13、 20%).The low emission vehicles will be chargeable at the basic p ercentagerate of 15%resulting i n a tota I annua I car and fue I benefit charge of 5,160(20,000 x 15%+14,400 x 15%).ThesaIesmen wi I I thusmak e an annua I i ncome tax saving at thei r margins I rate of tax,i.e.378(1,720 x 22%)ifthey

14、are bas i c rate tax p ay ersand 688(1,720 x 40%)i f they are h i gher rate tax p ay ers.Linden LimitedThe current vehicles wi I I be cIassed as ex p ensive cars based on the discounted I ist p ricep I us the cost of the accessor i esof 18,824(19,600 x 9 4%+400).The annua I writing down a I Iowances

15、 wi I I thus be restr ictedto 3,000 throughoutOthe p eriod of ownership,but there wi I I be no restr iction of the ba Ianc i ng a I Iowance ava i I ableon disp osaI.The lowemission vehicles will be eligible for a 100%fi rst y ear a I Iowance of 19,020(19,600 x 9 5%+400),but there wi I Ia I so be a b

16、alancing charge on disp osal equivalent to the sales p roceeds.Therefore,the totalof the a I Iowances ava i lab Ieover the I ife of the cars will be effectively the same i n both cases.As a single comp any withtax able p rofits of 1 -4 mi I I ion,L i nden Limited wi I I p ay corp ora!i on tax at the

17、 smaI I comp an i es margins I rateof 32 75%i n the y ear to 31 Ju I y 2007,giving a tax benef i t i n that y ear of 5,247 for each low emi ss i on car p urchased(19,020-3,000)x32 75%).IThe comp any wi I I a I so mak e an annual saving i n terms of the Class 1A nat i onaI i nsurancecontr ibut ions p

18、 ay able on theI|salesmen,s benefits of 220(6,880-5,160)x 12,8%).But,as these Class 1A contributionsare deductible forI Icorp oration tax,the net saving will only be 205(220 x (100-32-75)%).IAS the VAT liability p ay able on the p rovision of p r ivate fuel is based on engine cap acity (notthe C02 e

19、mi ss ion rate)thi swi I I not necessar i Iy be affected.3、(i i)Ex p lain the account i ng treatment under IAS39 of the Ioan to Bromwich i n the fi nanc i a Istatements ofAmbush for the y ear ended 30 November 2005.(4 mark s)正确答案：(i i)There i s ob jactive evidence of imp a i rment because of the fin

20、ancial difficulties andreorganisation of Bromwich.The imp ai rment loss on the loan will be calculated by discounting the estimated future cash flows.The future cash flowswi I I be$100,000 on 30 November 2007.This will be discounted at an effective interest rateof 8%to give a p resent value of$85,73

21、3.The loan will,therefore,be imp ai red by ($200,000-$85,733)i.e.$114,267.(Note:IAS 39 requi res accrua I of i nterest on imp a i red Ioans at the original effecti ve i nterestrate.In the y ear to 30 November 2006 interest of 8%of$85,733 i.e.$6,859 would be accrued.)4、(i i)CaIcuI ate Pau I ,s tax li

22、ability i f he ex erc i ses the share op t i ons i n Memp hi s p lc andsubsequent Iy sells theshares i n Memp h i s p I c immed i ate I y,as p rop osed,and show how he may reduce th i s tax liability.(4 mark s)正确答案：()由Ws income tax liability would thus be as follows：Market value of shares on exercis

23、e date(5,000 x 6 00)30.000Rri8 paid to exercise option 000 x 3 50)(17,500)Taxable income 12,500Income tax at 40%5,000Class 1 employees national insurance at 1%125Total income tax and national insurance payable 5,125On immediate sale of the shares,no capital gains tax would be due as the shares will

24、not have increased in value.However,if%d were to exercise his options after 25 June 2006.then he would be subject to capital gains tax on thesubsequent sale onfy.%uls capital gains tax liability would be as follows：Proceeds 30,000Price paid to exercise option(5.000 x 3-50)(17,500)Gain 12.500Less；ann

25、ual exemption(8.500)Taxable gain 4,000Capital gains tax at 40%1,600Note：taper relief only runs from the dale of exercise of the options,therefore none is available.As a result of deferring the exercise date,%ul will save tax of 3,525(5.125-1.600).5、(c)Ex p lain how absolutist(dogmatic)and relativist

26、(p ragmatic)ethical assump tions wouldaffect the outcomeof Anne s deci s ion.(6 mark s)正确答案：(c)AbsoIut i sm and relativismAbsolutism and relativism rep resent two ex treme p ositions of ethicaI assump tions.DefinitionsAn abso I ut i st assump t ion i s one that be I i eves that there are 4eterna I r

27、ules that shou Id guidea I I eth i caI and moraI dec i s i onmak ing i n a I I situations.Accordingly,i n any given situation,there i s lik ely to be one r ightcourse of action regardless of theoutcome.An absolut i st be I ieves that this should be chosen regardless of the consequences orthe cost.A

28、dogmat i c ap p roachto moraI ity is an ex amp le of an absolutist ap p roach to ethics.A dogmatic assump tion is onethat is accep ted withoutdiscussion or debate.Relativist assump tions are situational in nature.Rather than arguing that there is a singler ight choice,a relativist will tendto adop t

29、 a p ragmatic ap p roach and decide,in the I ight of the situation being considered,whichis the best outcome.This will i nvolve a decision on what outcome i s the most favourabIe and that i s a matter of p ersona Ijudgment.Outcomes I f Anne were to adop t absoIut i st/dogmat ic assump t i ons,she wo

30、uId be lik ely to dec i de that shewouId need to p ursue whatOshe p erce i ves i s the r i ght course of act i on regard I ess of cost to herseIf or the re I at i onsh i pwith the client or her manager.Giventhat she unearthed a susp ect and unaccounted-for p ay ment,and that she received an inadequa

31、teex p Ianat i on from the client,she would p robably recommend ex tension to the audit bey ond the week end.If Ann were to adop t relativist or p ragmatic assump tions,she would have a p otent i a I Iy muchmore comp Ii cated decision tomak e.She would have to decide whether it was more imp ortant,e

32、thicaI ly,to y ield to the p ressurefrom Zachary i n the interests of her short-term career interests or hold out to p rotect the interests of thesharehoIders.Anne could recommend sign off and trust the FD s ex p Ianat i on but she i s more Ii k eIy to seek further ev i dence orassurance from the co

33、mp any beforeI Ishe does so.6、6 The ex p losi ve growth of i nvest ing and raising cap ita I i n the globa I mark ets has p ut new emp has i son the deveIop mentof international accounting,auditing and ethical standards.The International Federationof Accountants(I FAC)hasbeen at the forefront of the

34、 develop ment of the worIdwide accountancy p rofession through itsactivities in ethics,aud it i ng and educat i on.Requ i red:Ex p lain the deve I op ments i n each of the fol lowing areas and i nd i cate how they affect CharteredCert i f i edAccountants:(a)I FAC s lCode of Ethics for Professional A

35、ccountants,;(5 mark s)正确答案：6 DEVELOPMENTS AND CERTIFIED CH ARTERED ACCOUNTANTSTutor ial note:The answer which foI Iows is indicative of the range of p oints which might bemade.Other re Ievant mater i a I wi I Ibe given suitable credit.(a)I FAC s Code of Eth i cs for Profess i onaI AccountantsSince i

36、ts issue in 19 9 6,IFAC,s cCode of Ethics for Professional Accountants,(The Code)has undergone severaI rev i s i ons(19 9 6,19 9 8,2001,2004 and 2005).I FAC holds the view that due to national differences(ofculture,language,legal and social sy stems)the task of p rep ar ing detai led ethical requi r

37、ements is p rimari ly that of themember bod i es i n each countryconcerned(and that they a I so have the resp ons i b i Ii ty to imp Iement and enforce suchrequ i rements).I n recogn i z i ng the resp onsibi I i t i es of the accountancy p rofess i on,I FAC cons i ders i ts own ro I eto be in p rovi

38、ding guidance andp romot i ng harmon i z at i on.I FAC has estab I i shed The Code to p rov i de a bas i s on wh i ch the eth i ca Irequ i rements forp rofessional accountants in each country should be founded.I FAC,s concep tuaI ap p roach i s p r incip les-based.It p rovides a route to convergence

39、 thatemp hasises the p rofession,s integr ity.This ap p roach may be summar i sed as:identify ing and evaluating ci rcumstances and relationship s that create threats(e.g.toi ndep endence);and tak ing ap p rop r iate act ion to:口-eI iminate these threats;or-reduce them to an accep tab I e I eve I by

40、 the ap p I icat ion of safeguards.I f no safeguards are avai I able to reduce a threat to an accep tab I e I eve I an assurance engagementmust be refused or Idiscontinued.Th i s ap p roach was f i rst i ntroduced to Section 8 of The Code,on i ndep endence,and i s ap p I icableto assurance engagemen

41、tsi Iwhen the assurance rep ort i s dated on or after 31 December 2004.IFurther to the cases of Enron,Wor I doom and Parmalat,I FAC i ssued a revised Code in July 2005that ap p Iies to a I I p rofessionalaccountants,whether i n p ub Iic p ract i cer bus i ness,i ndustry or government2.A member body

42、of I FAC may not ap p Iy I ess str i ngent standards than those stated i n the Code.The Code i s effect i ve from 30 June 2006.Practicing accountants and members in business must maintain the high standards of p rofessionaIeth ics that are ex p ectedby thei r p rofessions I bodies(such as ACCA).Thes

43、e develop ments cod i fy current best p racticei n the wak e of theaforementioned recent corp orate scandals.The develop ments i n The Code have wider ap p Iicat ion in that it:ap p I ies to a I I assurance services(not just audit);considers the standp oints of the f i rm and of the assurance team.S

44、ince ACCA i s a member-body of I FAC the eIevat i on of The Code to a standard wiI I affect a I IChartered Cert i f i ed Accountants.7、2 Ty re,a p ub Iic Iimited comp any,op erates i n the vehicle reta i I i ng sector.The comp any i scurrent Iy p rep ar i ng its f i nanc i a Istatements for the y ea

45、r ended 31 May 2006 and has ask ed for advice on how to deaI with thefol lowing iterns:(i)Ty re requi res customers to p ay a dep osit of 20%of the p urchase p r ice when p lacing anorder for a vehicle.If thecustomer cance I s the order,the dep osit i s not refundab I e and Ty re reta i ns it.I f th

46、e ordercannot be fulfi I led byTy re,the comp any rep ay s the fuI I amount of the dep osit to the customer.The balance of thep urchase p r i cebecomes p ay ab I e on the de I i very of the veh icle when the tit Ie to the goods p asses.Ty re p rop osesto recogn i sethe revenue from the dep osits i m

47、med i ate I y and the balance of the p urchase p r ice when the goodsare del iveredto the customer.The cost of sa I es for the veh icle i s recogn i sed when the ba I ance of the p urchasep r i ce i s p a i d.AdditionaI Iy,Ty re had sold a fleet of cars to H ub and gave H ub a discount of 30%of the

48、retai Ip rice on thetransact i on.The d i scount given i s norma I for th i s ty p e of transact i on.Ty re has given H uba buy back op tion whichentitles H ub to requi re Ty re to rep urchase the vehicIes after three y ears for 40%of thep urchase p rice.The norma Ieconomic I ife of the vehicles is

49、five y ears and the buy back op tion is ex p ected to be ex ercised.(8 mark s)Requi red:Adv i se the di rectors of Ty re on how to treat the above items in the financial statements forthe y ear ended31 May 2006.(The mark a I location i s shown aga i nst each of the above items)正确答案：2 Adv i ce on sun

50、dry account i ng i ssues:y ear ended 31 May 2006The fol lowing deta i Is the nature of the advice re Ievant to the account i ng i ssues.Revenue recognition(i)Sale to customers IAS18 Revenue requi res that revenue relating to the sale of goods is recognised when thes i gn i f i cant r i sk s and rewa