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http://wps.pearsoned.co.uk/ema_uk_he_atrill_accfinns_5/47/12194/3121...
A B C D
During the financial year, Modbury Ltd had the following increases in reserves:
1. 500,000 from a revaluation of freehold premises 2. 800,000 in share premium 3. 400,000 from trading profit retained
4/21/2012 4:20 PM
http://wps.pearsoned.co.uk/ema_uk_he_atrill_accfinns_5/47/12194/3121...
The following gains may legally be withdrawn from the company by shareholders:
1. gains that arise from the upward revaluation of non-current assets 2. realised gains that arise from the sale of non-current assets What is the validity of each statement?
A B C D
Which one of the following is correct? Accounting Standards are created by:
company law the Department of Trade and Industry the International Accounting Standards Board the Stock Exchange
Which one of the following is correct? Auditors of a company are principally accountable to:
the shareholders the Stock Exchange the Department of Trade and Industry the directors
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4/21/2012 4:20 PM
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The law imposes a legal obligation to maintain appropriate accounting records for a company on:
the Company Secretary the directors the auditor the Finance Director
A B C D
The financial statements of Tamerton plc for the most recent year indicated the following:
1. 2. 3. 4. a bonus issue of shares a transfer of trading profit to reserves an increase in the revaluation reserve for non-current assets a rights issue of shares
3 of 4
4/21/2012 4:20 PM
http://wps.pearsoned.co.uk/ema_uk_he_atrill_accfinns_5/47/12194/3121...
What is the main source of new long-term finance for UK limited companies?
Ordinary share capital Loan capital Preference share capital Retained profit
A B C D
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