External auditors report their opinion to the members of the company after their independent examination of the financial statements.
Which THREE of the following should be included in their opinion?

• A.If the income statement gives a true and fair view
• B.If the statement of financial position gives a true and fair view
• C.If the company is successful
• D.If the financial statements have been prepared by a qualified accountant
• E.If the financial statements are free from fraud
• F.If the financial statements have been prepared in accordance with legislation

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Refer to the Exhibit.

The sales day book for the last month, appeared as follows:

The entries which should be made in the ledger accounts are:
The answer is:

• A.Option D
• B.Option C
• C.Option B
• D.Option A

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Refer to the Exhibit.

The Financial Accountant for a company is preparing the monthly bank reconciliation and has extracted the following information:
The correct cash book balance at the month end will be:

• A.$44,610
• B.$29,140
• C.$41,960
• D.$42,870

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Refer to the Exhibit.

Transactions are often categorized between capital and revenue
Which of the following combinations are correct?

• A.D
• B.B
• C.C
• D.A

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A business will maintain a non-current asset register to keep a record of all non-current assets held.
Which THREE of the following are examples of information contained within the register?

• A.Purchase date
• B.Maintenance cost details
• C.Insurance cost details
• D.Useful economic life
• E.Proposed date of sale
• F.Cost of asset

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