November 2014 diet: the questions by course

Management Accounting November 2014 · 2 questions

• Objective extras: Section A (multiple choice): From the previous syllabus. An item asks about a common cost that is shared over cost centres, testing the meaning of ...
• Theory 2: An absorption costing approach question requiring profit to be calculated and compared under marginal and absorption costing.

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Financial Accounting November 2014 · 18 questions

• Objective 1: Asks which item is not part of a complete set of financial statements under IFRS.
• Objective 2: Asks which item is not an attribute of good accounting information.
• Objective 3: From the previous syllabus. Asks which of five groups is not an external user of accounting information.
• Objective 5: From the previous syllabus. Asks for the term for a present obligation arising from past events whose settlement is expected to result in an outflo...
• Objective 6: Asks to which account the bad debts account is closed in preparing the statements.
• Objective 8: From the previous syllabus. Both ask for the effect on profit of the sale of an item of property, plant and equipment, with depreciation to the poi...
• Objective 9: From the previous syllabus. Ask for the source document for the returns inward book and for the document the buyer receives when damaged goods are ...
• Objective 11: From the previous syllabus. Asks the order of the three activity groups, which item may not be classified as investing, and which information a sta...
• Objective 12: From the previous syllabus. Both ask for the journal entries or double entry that record depreciation.
• Objective 15: Asks for the correct bank balance when the cash book shows an overdraft, a standing order was recorded twice and a dishonoured cheque was debited i...
• Objective 16: From the previous syllabus. Asks for the sales from a gross margin of 40%, the profit on a sale at a 20% mark-up, and the gross profit from a profi...
• Objective 19: Asks which record is used to determine the arithmetical accuracy of ledger posting.
• Theory 1: Asks for short notes on five concepts worth 2 marks each: business entity, going concern, matching, consistency, and materiality and aggregation.
• Theory 2: From the previous syllabus. A trial balance difference placed in a suspense account, with eight errors. Asks for the correcting journals (12 marks)...
• Theory 3: From the previous syllabus. Asks for five differences between the cash book and the petty cash book.
• Theory 4: Asks you to state which of thirteen items are capital expenditure for the statement of financial position, including leasehold premises, solicitor’...
• Theory 5: From the previous syllabus. A partnership shares profit in a ratio after salaries to each partner. Asks for the statement of profit or loss and app...
• Theory 6: From the previous syllabus. Asks you to define operating, investing and financing cash flows with two examples each (9 marks), and to prepare the s...

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Corporate and Business Law November 2014 · 7 questions

• Objective extras: Section A: Question 8 asks which of the listed matters is not a test of insolvency. Failure to file annual returns is not a test. Revise the annual...
• Theory 1: Distinctions between civil law and criminal law. Revise the comparison table.
• Theory 2: From the Business Law paper set under the previous syllabus. Part (b) asks for the types of resolution and the matters needing each. Revise the res...
• Theory 3: From the Business Law paper set under the previous syllabus. Part (b) asks for eight documents presented to the CAC for incorporation. Revise the d...
• Theory 4: Suzee issued a cheque for ₦140,000 on a balance of ₦125,000. Explain the legal issues. Revise the dud cheque and worked problem 2.
• Theory 5: Four differences between a private trust and a public trust. Revise the comparison table.
• Theory 6: Two items that a hire purchase memorandum must contain. Revise the memorandum.

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Strategic Financial Management November 2014 · 5 questions

• Theory 1: The compulsory 30-mark question asked for a project NPV for a cement plant at a project-specific cost of capital of 13%. The model answer lists the...
• Theory 2: Chelsy Plc had a profitable Bolts division and a loss-making Nuts division. The board considered closing the company or closing Nuts and selling Bo...
• Theory 3: The 20-mark question gave Syntax Plc a target, Synapse Chemical, with five years of forecast revenue, costs and profit, a sale of assets with a tax...
• Theory 4: The question asked for a comparison of issuing bonds by private placement and by public offer, the advantages of each and advice on which suits a f...
• Theory 7: Question 7 was a foreign exchange question that combined retention money, a money market hedge and forward contracts. Read the section on money mar...

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Case Study November 2014 · 1 questions

• Theory extras: Case: protests over waste disposal: An environmental group protested against the target company’s waste disposal, while the board said no law was b...

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