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Hi, I would really appreciate someone's help with this Accounting test! APPENDIX 1. TESTS Answer the following questions choosing from given answers the correct one.
Hi, I would really appreciate someone's help with this Accounting test!
APPENDIX 1. TESTS Answer the following questions choosing from given answers the correct one. The city "GWARIK was charged with bank loan interests that amounted to $0,000, but it paid only 500The entity should disclose in the financial statement a) IS300 as financial costs, b) JS,000 as gains on disposal of investments, according to the prudence principle, O) 18000 as outlowers from financing activity. d) none of the above. losses and gains 2Accounting Aet extraordinary . According to the a) are connected with the general risk of operating activities, b), are distinct from the enterprise's operating activities, O) are connected only with control over another enterprise, S), one of the above, 3. Financial assets consist of S) equity instruments issued by the entity, O) equity instruments issued by other entities. d) none of the above. 4 of become an outflow during the next financial year (or years) is: . Are example a cost, which can a) reversal of provisions relating to financial transactions, b) accrued interest on bank deposits , O) materials the production cycle that the entity last used in paid for month, d) none of the above, The entity NEVER EVER' met in the previous year the following criteria: the average number of em ployees of the total assets of 2,700,000 EURO and the net sales of goods for resale and finished prod ets of 1500, 200 EURO. This entity B) can prepare abbreviated financial statements, b) doesn't have to be audited, c) is obliged to prepare the cash flow statement, d) one of the above. 6 Books of account should include (according to the Polish Accounting Act: 3) the notes to the financial statements, by the journal, C) the auditor's opinion, d) none of the above. 7, are example of a non balance sheet account is: 3) cost of sales of goods for resale and materials , b) change in inventories, c) "receivables' d) none of the above. 8. Net profit/loss consists of a) net value of a free-of-charge transfer, b) VAT tax, c) share premium, d) none of the above. a goodwillStep by Step Solution
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