Which one of the following will not be found in a statement of changes in equity?

• A.Share premium account
• B.Debentures
• C.Ordinary shares
• D.General reserve

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Which of the following would be a role of the management accountant?

• A.Reporting historic transactions
• B.Meeting external reporting requirements
• C.Monitoring actual results to expected results
• D.Producing financial statements

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Which ONE of the following organizations issues International Accounting Standards (IFRS's)?

• A.International Financial Reporting Interpretation Committee (IFRIC)
• B.International Accounting Standards Board (IASB)
• C.Standards Advisory Council (SAC)
• D.International Accounting Standards Committee Foundation (IASCF)

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Which of the following is an example of a transaction that affects profit, but does not affect cash?

• A.Cost of electricity consumed in the period
• B.Purchase of raw materials
• C.Interest on bank loans
• D.Profit and loss on disposal of a non-current asset

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A business buys a new production line at a cost of £100,000. After using the line for one year a more advanced version of the line is marketed by the manufacturer. As a result the production line in operation has a market value of £ 50,000. The line is being depreciated straight line over five years.
The charge to the income statement for impairment of the production line will be

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