What is the balance of the trading account?

• A.The total income
• B.The gross profit
• C.The closing inventories total
• D.The revenue value

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BCD has the following balances for the year ended 31 December 20X8:

What is the trade payables balance of BCD at 31 December 20X8? Give your answer to the nearest $"000.

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Refer to the exhibit.

A company has the following current assets and liabilities at its most recent year end:
When measured against standard acceptable levels for liquidity, the company can be said to have:

• A.An ideal acid test ratio, but a high current ratio
• B.An ideal current ratio, but a low acid test ratio
• C.A high current ratio and a low acid test ratio
• D.Ideal current and acid test ratios

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Before lending to an entity, which TWO of the following pieces of information would a potential lender want to consider?

• A.Past tax payments made by the entity
• B.Social policies of the entity
• C.Long term business plans of the entity
• D.Dividend policy of the entity
• E.Ability of the entity to meet interest payments

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The Finance Director of EFG company has made the following statements regarding the recording of expenditure relating to the entity's property, plant and equipment (PPE) in the nominal ledger.
Which THREE of the following statements are true?

• A.The cost of repainting the office is credited to the repairs expense account
• B.The cost of insurance for the factory is debited to the PPE asset account.
• C.The annual depreciation charge reduces EFG's profit for the year.
• D.The loss on the disposal of PPE reduces EFG's profit for the year
• E.The loss on the disposal of PPE is recorded in a liability account
• F.The annual depreciation charge reduces the carrying value of PPE

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