1) You have recently inherited $50,000 and decide that you would like to put these funds into a term deposit.Your local bank offers various investment options, which are identified below.Which of these options offers you the highest annual interest?

Select one:

a.4.5% compounded monthly

b.4.3% compounded daily

c.4.4% compounded semi-annually

d.4.8% compounded annually

2) Which of the following costs is most likely to be a fixed cost for an airline?

Select one:

a.Salary of CEO

b.Single malt whisky for first-class passengers

c.Aviation fuel

d.In-flight meals

3) Project X will increase the revenue of an organisation from $3,500,000 to $6,000,000.Wages and salaries are always 50% of revenues.Project X will also increaseexistingmaintenance costs by $330,000.Based on these figures, what are the incremental earnings (i.e. changes in revenues minus expenses) that will result from accepting this new project?

Select one:

a.$920,000

b.$1,700,000

c.$2,500,000

d.$880,000

e.$1,250,000

4) A company purchased a new piece of machinery on 30 June 2019 for $96,000.It is estimated that the machine will have a useful life of 6 years.The machine will have no salvage value and will depreciated to a residual value of zero.The company uses the accelerated depreciation method (reducing-balance method) at a rate of 30%.What would be the amount of depreciation expense charged for the year ended 30 June 2021?

Select one:

a.$22,720

b.$28,800

c.$19,200

d.$15,680

e.$20,160

5) You have received the electricity bill for your company on 31st March 2020.The next bill is not due until 31st July.Your financial year ends on the 30th June 2020.How will you recognise the electricity expenses for April, May and June?

Select one:

a.It will be recognised as Cash Expenses

b.It will be recognised as Prepaid Expenses

c.It can be recognised as a Note Payable

d.It will be recognised as Accrued Expenses

6) Which of the following is not an example of cash flow from financing activities?

Select one:

a.Payment of dividends

b.Receipt of dividends

c.Cash paid to repurchase the firm's shares

d.Proceeds from issuing shares

7) You have decided that you want to have $50,000 in 5 years in order to invest in the Australian Securities Exchange (ASX).You have found a local bank that will offer you 6% per annum, compounded monthly.Which of the following formulae represents how much money you must put in a savings account today?

Select one:

a.50,000 / (1 + .06)120

b.50,000 / (1 + .006)120

c.50,000 / (1 + .005)120

d.50,000 / (1 + .06)10

e.50,000 / (1 + .05)10