Question
To account for depreciation of a computer in a financial forecast, we record a. An increase in costs and a matching decrease in cash b.
To account for depreciation of a computer in a financial forecast, we record
a. An increase in costs and a matching decrease in cash
b. A decrease in fixed assets and a matching decrease in capital
c. An increase in costs and a matching decrease in tax
d. An increase in costs and a matching decrease in fixed assets
e. A decrease in costs and a matching increase in fixed assets
To account for payment of rental of office space in a financial forecast, we record
a. An increase in costs and a matching decrease in cash
b. A decrease in fixed assets and a matching decrease in capital
c. An increase in costs and a matching decrease in tax
d. An increase in costs and a matching decrease in fixed assets
e. A decrease in costs and a matching increase in fixed assets
To record the double entry for corporation tax payable in the following year in a financial forecast, which two accounts are involved?
a. Cash (Assets) and Costs
b. Cash (Assets) and Liabilities
c. Liabilities and Costs
d. Liabilities and Profit &Loss Account
e. Capital and Costs
Which of the following taxes is not included in the in the P&L account
a. Corporation Tax
b. Pay As You Earn
c. Value Added Tax
d. Employer PRSI
e. Universal Service Charge
Which of the following are not allowable against corporation tax?
a. R&D costs
b. Dividends
c. Interest
d. marketing costs
e. Cost of sales
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