A、Payment of Dividend Payable eliminates both the assets and the owners’ equity.
B、Liabilities are debts or obligations that must be discharged in money or services in the future.
C、Owners’ equity is a residual claim to the remaining assets after discharge of debts.
D、Balance sheet of corporations should separate Capital Stock and Retained Earnings
第1题
A、plaintiff
B、director
C、insolvency
D、injuries
第2题
B、Long-term liabilities
C、Stockholders' equity
D、Intangible assets
第3题
第4题
If retained earnings were understated and liabilities were overstated, which of the following errors could have been the cause?
A.Making the adjustment entry for depreciation expenses twice.
B.Failure to record interest accrued on a note payable.
C.Failure to make the adjusting entry to record revenue which had been earned but not yet billed to clients.
D.Failure to record the earned portion of fees received in advance.
第5题
A.exists B.existed C.existing D.existence
第7题
For the year to end of March 2014, CSZ Co had domestic and foreign sales of $40 million, all on credit, while cost of sales was $26 million. Trade payables related to both domestic and foreign suppliers.
For the year to end of March 2015, CSZ Co has forecast that credit sales will remain at $40 million while cost of sales will fall to 60% of sales. The company expects current assets to consist of inventory and trade receivables, and current liabilities to consist of trade payables and the company’s overdraft.
CSZ Co also plans to achieve the following target working capital ratio values for the year to the end of March 2015:
Required:
(a) Calculate the working capital cycle (cash collection cycle) of CSZ Co at the end of March 2014 and discuss whether a working capital cycle should be positive or negative. (6 marks)
(b) Calculate the target quick ratio (acid test ratio) and the target ratio of sales to net working capital of CSZ Co at the end of March 2015. (5 marks)
(c) Analyse and compare the current asset and current liability positions for March 2014 and March 2015, and discuss how the working capital financing policy of CSZ Co would have changed. (8 marks)
(d) Briefly discuss THREE internal methods which could be used by CSZ Co to manage foreign currency transaction risk arising from its continuing business activities. (6 marks)
第8题
A.protested
B.given to the acceptor
C.retained in the files
D.presented to the advising bank
第9题
(a) explain the doctrine of independent legal entity of a company; (4 marks)
(b) state the system of disregard of corporate personality; (3 marks)
(c) state the liabilities of a shareholder for abusing the doctrine of independent legal entity of a company. (3 marks)
第10题
(a) explain the term controlling shareholder under the Company Law of China; (3 marks)
(b) explain how the creditors may take legal action against the shareholder of a company for abusing the independent legal entity, and the doctrine of law for such legal action; (3 marks)
(c) explain the civil liabilities of the controlling shareholder for the damage of the company through affiliate trading. (4 marks)
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