2022年ACCA-CAT模拟冲刺试题集（一）

2022年ACCA/CAT模拟冲刺试题集姓名:年级:学号:题型选择题填空题解答题判断题计算题附加题总分得分评卷人得分ヽ18Whichofthefollowingstatementsaboutaccountingratiosandtheirinterpretationarecorrect?AIow-gearedcompanyismoreabIetosurviveadownturninprofitthanahighly-gearedcompany.Ifacompanyhasahighpriceearningsratio,thiswiIIoftenindicatethatthemarketexpectsitsprofitstorise.AlIcompaniesshouIdtrytoachieveacurrentratio(currentassets/currentIiabiIities)of2:1.A2and3onlyB1and3onlyC1and2onlyDAlIthreestatementsarecorrect正确答案:C2、1StuartisaseIf-empIoyedbusinessconsultantaged58.HeismarriedtoRebecca,aged55.TheyhaveonechiId,Sam,whoisaged24andsingle.InNovember2005StuartsoldahouseinPIymouthfor£422,100.Stuarthadinheritedthehouseonthedeathofhismotheron1May1994whenithadaprobatevaIueof£185,000.ThesubsequentpatternofoccupationwasasfoIIows:1May1994to28February1995occupiedbyStuartandRebeccaasmainresidence1March1995to31December1998unoccupied1January1999to31March2001letout(unfurnished)1ApriI2001to30November2001occupiedbyStuartandRebecca1December2001to30November2005usedoccasionaIIyassecondhomeBothStuartandRebeccahadIivedinLondonfromMarch1995onwards.On1March2001StuartandRebeccaboughtahouseinLondonintheirjointnames.On1January2002theyeIectedfortheirLondonhousetobetheirprincipalprivateresidencewitheffectfromthatdate,upuntiIthatpointthePIymouthpropertyhadbeentheirprincipalprivateresidence.NoothercapitaIdisposaIsweremadebyStuartinthetaxyear2005/06.Hehas£29,500ofcapitaIlossesbroughtforwardfrompreviousyears.StuartintendstoinvestthegrosssaIeproceedsfromthesaIeofthePIymouthhouse,andisconsideringtwoinvestmentoptions,bothofwhichhebeIieveswiIIprovideequaIriskandreturns.Theseareasfollows:acquiringsharesinOmikronplc;oracquiringfurthersharesinOmegaplc.Notes:OmikronplcisaIistedUKtradingcompany,with50,250,000sharesinissue.ItssharescurrentIytradeat42ppershare.StuartandRebeccaheIpedstartupthecompany,whichwasthenOmegaLtd.Thecompanywasformedon1June1990,whentheyeachbought24,000sharesfor£1pershare.ThecompanybecameIistedon1May1997.Onthisdatetheirholdingwassubdivided,witheachofthemreceiving100sharesinOmegaplcforeachshareheldinOmegaLtd.TheissuedsharecapitalofOmegapIciscurrently10,000,000shares.Thesharepriceisquotedat208p-216pwithmarkedbargainsat207p,211p,and215p.StuartandRebecca，sassets(foIlowingthesaIeofthePIymouthhousebutbeforeanyinvestmentoftheproceeds)areasfoIIows:AssetsStuartRebecca££FamilyhouseinLondon450,000450,000CashfrompropertysaIe422,100-Cashdeposits165,000165,000Portfolioofquotedinvestments-250,000SharesinOmegaplcseeaboveseeaboveLifeinsurancepolicynote1note1Note:TheIifeinsurancepolicywillpayoutasumof£200,000onthedeathofthefirstspousetodie.StuarthasrecentlybeendiagnosedwithaseriousiIIness.HeisexpectedtoIiveforanothertwoorthreeyearsonIy.HeisconcernedaboutthepossibleinheritancetaxthatwiIIariseonhisdeath.BothheandRebeccahavewillswhosetermstransferaIIassetstothesurvivingspouse.RebeccaisingoodheaIth.

NeitherStuartnorRebeccahasmadeanypreviouschargeabIeIifetimetransfersforthepurposesofinheritancetax.Required:(a)CaIcuIatethetaxabIecapitaIgainonthesaIeofthePIymouthhouseinNovember2005(9marks)正确答案:(a)Salesproceedslesscost：Note ££422.100(185.000)Unindexedgain237.100Indexation(1626-1447)へ,一r,or 0124x£185,0001447(22.940)214.160less.PPRexemption(1)138.665lettingexemption⑵40.000(178.665)35.495Less,capitallossesM(restricted)(27.295)8.200Less,annualexemption(3)(8.200)TaxablegainnilNotes(1)Thepenodsofoccupationareasfollows：Totalmonthsmonthsnotoccupiedoccupied1May1994 -28February1995101March1995 -28February1998361March1998 -31December1998101January1999-31March2001271Apnl2001 -30November2001881December2001-30November200212121December2002-30November20053636□1399049□Notethatthelast36monthscountasdeemedoccupation,asthehousewasStuart*sprincipalprivateresidence(PPR)_Iatsomepointduringhisperiodofownership.□Thefirst36monthsoftheperiodfrom1March1995to31March2001quaIifiesasadeemedoccupationperiodas□StuartandRebeccareturnedtooccupythepropertyon1April2001.TheremainderoftheperiodwiIIbetreatedasa□periodofabsence,althoughIettingreIiefisavaiIableforpartoftheperiod(seebeIow).□TheexemptelementofthegainistheproportionduringwhichthepropertywasoccupiedfreaIordeemed.Thisis£138,665(90/139x£214,160).(2)ThechargeabIegainisrestrictedfortheperiodthatthepropertywasletout.ThisisrestrictedtotheIowestofthe□following:(i)thegainattributabletothelettingperiod(27/139x214,160)=£41,599

(ii)£40,000(iii)thetotaIexemptPPRgain=£138,665i.e.£40,000.(3)ThetaperreIiefiseffectiveIywasted,havingrestrictedlossesb/ftopreservetheannuaIexemption.□、(b)BrieflydescribethefiveextremescoresidentifiedbyBIakeandMouton.(5marks)正确答案:Part(b):□BlakeandMoutonanalysedtheextremescoresas:1,1-ImpoverishedManagementlowconcernforproductionandlowconcernforpeople.□ThismanageronIymakestheminimumeffortineitherareaandwiIImakethesmallestpossibIeeffortrequiredtoget□thejobdone.[11,9-CountryClubManagement11owconcernforproductionandhighconcernforpeopIe.iIThismanageristhoughtfuIandattentivetotheneedofthepeople,whichIeadstoacomfortablefriendIyorganisationlatmospherebutveryIittIe'workisactuaIIyachieved.I9,1-TaskManagementOhighconcernforproductionandlowconcernforpeopIe.IThismanagerisonlyconcernedwithproductionandarrangesworkinsuchawaythatpeopIeinterferenceisminimised.□5,5-MiddleoftheRoadManagementFIreasonabIeconcernforbothdimensions.IThismanagerisabIetobaIancethetaskinhandandmotivatethepeopIetoachievethesetasks.□9,9-TeamManagement□Highconcernforproductionandhighconcernforpeople.□ThismanagerintegratesthetwoareastofosterworkingtogetherandhighproductiontoproducetrueteamIeadership.□(Candidatesmaywishtodrawthegridanddescribethesescores).4、(c)ExcIudingthenumberofcompIaintsbypatients,identifyandbrieflyexplainTHREEquantitativenon-financialperformancemeasuresthatcouIdbeusedtoassessthe'quaIityofservice1providedbytheDentaIHeaIthPartnership.(3marks)正确答案:(c)InordertoassessthequaIityofpatientcareprovidedbytheDentaIHeaIthPartnershipthefollowingperformancemeasures□mightbeused:-Thepercentageof'ontime'treatmentofthosepatientswhoarrivedpriortotheirappointmenttimewouldprovideanIindicationregardingtheeffectivenessofthescheduIingofappointmentsbytheDentaIHealthPartnership.-thepercentageofpatientappointmentswhichwerere-arrangedattherequestoftheDentaIHeaIthPartnership.」RearrangedappointmentsrepresenttheprovisionofaIowerIeveIofserviceprovisiontocIientswhomay,asaresult,switchtoanalternativedentaIpractice.-thepercentageofpatientswhoreturnfortreatmentaftertheirfirstappointmentwouIdprovideanindicationthattheyweresatisfiedwiththeservicetheyreceived.□-thepercentageofpatientswhowereabIetogainanappointmentattheirpreferreddateandtimeisanindicationofthe□availabilityoftheservicetocIients.INote:GandidateswereonIyrequiredtodiscussthreemeasures.5、(c)(i)ComputeGloria'scapitaIgainstaxliabilityfor2006/07ignoringanycIaimsoreIectionsavaiIabletoreducetheliability.(3marks)正确答案:(c)(i)Capiulgainstaxliabilityfor2006/07£Gainonpainting 7,100Less.Capitallossesbrou^itforward(Note) (7,100)Indexedgainbeforetaperrelief 一Gainonshop(£335.000-£267.000) 68,000Less.Remainderofcapitallossesbroughtforward (24.300)43,700BusinessassetownedforoneyearGainaftertaperrelief(£43,700x50%) 21,850less.Annualexemption (8,500)13,350Capitalgainstaxat40% 5.340Note：Thecapitallossesbroughtforwardareoffsetagainstthepaintingmpriorityiotheshop,asthereisnotaperreliefロ availableinrespectofthepainting.o6、(c)AssesstheIikeIycriteriawhichwouIdneedtobesatisfiedforsoftwaretoberegardedas*quaIitysoftware'.(4marks)正确答案:(c)ThefollowingareimportantconsiderationsregardingthequaIityofthebusinesssoftware:□-Thesoftwareiserror-freeasthiswillimproveitsreIiabiIity.Whi1stinpracticethismightnotalwaysbeachievabletheIdirectorsofSSHmustrecognisethedangersinvoIvedinsupplyingbespokesoftwarewhichmayprovedamagingtotheirロclients'businesseswiththeresu11ingIossofcIientgoodwill.ローThesoftwareshouldmeetquaIitycontroIstandardssuchasthosespecifiedbytheISO(InternationaIStandards□Organisation).ローThesoftwaremustbedeIiveredontime.LatedeIiveryofbusinesssoftwarewiIIproveprobIematicsineecIientsmayreIyロonupdatedsoftwaretomeetnewcustomerneedsortofuIfiIrevisedbusinessobjectives.ロ・Thesoftwaremustmeettheinitialspecificationofthecustomer.InmeetingthespecificationSSHwiIIbedemonstrating□thatthesoftwarehasbeenproducedcorrectIywithanappropriatefocusontherequirementsofendusers.□-Thesoftwaremustbeusablei.e.asweIIasbeingabIetodowhatitissupposedtodoitisimportantthatitiseasytoIluse.□-ThesoftwareshouldbecapabIeofbeingupdatedintheIightoffuturechangesthatoccurinthecIients'requirements.7、(c)CaIcuIatethetheoreticaIexrightspricepershareandthenetfundstoberaisedbytherightsissue,anddetermineanddiscusstheIikelyeffectoftheproposedexpansionon:(i)thecurrentsharepriceofMertonplc;(ii)thegearingofthecompany.Assumethattheprice-earningsrati〇ofMertonpIcremainsunchangedat12times.(11marks)正确答案:(c)Rightsissueprice=2-45x0,8=£1•96□Theoreticalexrightsprice=((2x2・45)+(1x1-96))/3=6,86/3=£2-29□Newsharesissued=20mx1/2=10million□Fundsraised=1,96x10m=£19-6million□Afterissuecostsof£300,000fundsraisedwiIIbe£19•3million□AnnuaIafter-taxreturngeneratedbythesefunds=19'3x0,09=£1,737,000□NewearningsofMertonplc=1,737,000+4,500,000=£6,237,000□Newnumberofshares=20m+10m=30million□Newearningspershare=100x6,237,000/30,000,000二20・79pence□Newshareprice=20,79x12=£2-49□Theweaknessesinthisestimatearethatthepredictedreturnoninvestmentof9%mayormaynotbeachieved:thepriceearnings□ratiodependsonthepostinvestmentshareprice,ratherthanthepostinvestmentsharepricedependingonthe□price-earningsratio;thecurrentearningsseemtobedecIiningandthissharepriceestimateassumestheyremainconstant;ninfactcurrentearningsareIikelytodecIinebecausetheoverdraftandannuaIinterestareincreasingbutoperatingprofitis□faIIing.□Expectedgearing=38/(60+19,3)=47•9%comparedtocurrentgearingof63%.□Includingtheoverdraft,expectedgearing=46/(60+19・3)=58%comparedto77%.QThegearingispredictablyIower,butiftheoverdraftisincIudedinthecaIcuIationthegearingofthecompanyisstillhigher□thanthesectoraverage.ThepositiveeffectonfinanciaIriskcouldhaveapositiveeffectonthecompany'ssharepricetbut□thisisbynomeanscertain.8、(b)AnalysehoweffectiveprojectmanagementcouIdhavefurtherimprovedboththeprocessandtheoutcomesofthewebsitere-designproject.(10marks)正确答案:(b)EffectiveprojectmanagementcouIdhaveimprovedtheconductofthewebsitere-designprojectinthefollowingways:IDetailedpIanningIDuringthedeIiveryoftheprojecttheIackofaformaIdetailedplanmeansthatthereisnobaseIineforreviewandcontrol.!ITheabsenceofmonitoringprogressagainstthatpIanisaIsoveryevident.Themeetingsareeventswhere,aIthoughprogresslappearstohavebeenmade,itisuncIearhowmuchprogresshasbeenmadetowardsthedeIiveryofthefinalre-designedIwebsite.EffectiveprojectmanagementwouIdhavemandatedtheproductionofadetaiIedpIan.ThereisnomentionofaIprojectpIan,acriticalpathanalysis,aGanttchartorsupportingprojectmanagementsoftware.IEffectivemonitoringandcontrol□TheboardwerenotkeptuptodateaboutprogressandwereonIyalertedtopotentialissuewhenthefinancedirectorbecame□concernedaboutspirallingcosts.ThisisafaiIureofmonitoringandcontrol,aggravatedbythefactthatthereisnoproject□pIantomonitoragainst.EffectiveprojectmanagementwouldhaverequiredformaIprogresstothesponsor(inthiscasethe□board).SuchmonitoringshouIdIeadtoprojectcontroI,wheresuggestedactionsareconsideredandimpIementedtodeaIwith□projectsIippage.ThepIanning,monitoringandcontroIIingaspectsofprojectmanagementarecompIeteIyabsentfromtheDscenarioandsononeoftheusuaIprojectmanagementmonitoringandreportingstructureswereinpIacetoaIerttheboard.□MandatingofsubstitutesInitialprogressishamperedbytheabsenceofkeypersonneIatmeetings3and4andtheinappropriatesign-offbytheRP0(aIreadydiscussedabove)ofthetechnicaIdesign.TherequirementfortheTDtoproduceatechnicaIreportaIsosIowsHprogress.TheseproblemscouIdhavebeenaddressedbyensuringthatsubstituteswereavaiIableforthesemeetingswhounderstoodtheirroleandthescopeoftheirauthority.EffectiveprojectmanagementwouldhaveensuredthatprogresswouIdnothavebeendeIayedbytheabsenceofkeypersonneIfromtheprogressmeetings.□Standardsforcost-benefitanalysisThecost-benefitanalysisprovidedbytheMMisfIawedintwoways.FirstIy,theassumptionsunderpinningthebenefitsarenotexplained.Thereisnosupportingdocumentationanditappears,atfacevaIue,thatyearfourandfivebenefitshavebeen□greatIyinflatedtojustifytheproject.SecondIy,itwouldbeusuaItodiscountfuturecostsandbenefitsusinganagreeddiscountrate.Thishasnotbeendone,sothetimevalueofmoneyhasnotbeentakenintoaccount.EffectiveprojectmanagementIwouIdhavedefinedstandardsforthecost-benefitanalysisbasedonacceptedpractice.lEstimating,risksandquaIityiIThereactionoftheboardtothecost-benefitanalysisaIsoappearsunreaIistic.TheyappeartohavesuggestedabudgetandlatimescaIewhichdoesnottakeintoaccountthecomplexityoftheremainingworkortheresourcesavaitabletoundertakeIit.TheestimatingpartoftheprojectmanagementframeworkappearstobeIacking.ItiscIearatthefinalmeetingthattheIwebsitewiIInotbereadyforIaunch.However,theMMdecidestotaketheriskandachievetheimposeddeadIineandtakelachanceonthequaIityofthesoftware.ThisdecisionismadeagainsttheadviceofhisTDandwithoutanyinformationabout□thequaIityofthesoftware.EffectiveprojectmanagementwouIdhavemandatedaframeworkforconsideringthebaIancebetweenriskandquaIity.□TheMMdoesnotinform.theboardoftheTD*sadvice.TheMM,Iikemanyprojectmanagers(becausetheMMnowappears□tohaveadoptedthisrole)findsitpoliticaIlymoreacceptabIetodeIiverapoorquaIityproductontimethanabetterquaIity□productIate.UnfortunateIytheproductquaIityissopoorthatthedecisionprovestobethewrongoneandtheremovaIofthesoftware(andtheresignationoftheMM)endstheprojectscenario.□□9、(b)YouaretheauditmanagerofPetrieCo,aprivatecompany,thatretaiIskitchenutensiIs.ThedraftfinanciaIstatementsfortheyearended31March2007showrevenue$42,2miIIion(2006-$41•8miIIion),profitbeforetaxationof$1,8miIIion(2006-$2-2miIIion)andtotalassetsof$30-7miIIion(2006-$23•4miIIion).YouarecurrentIyreviewingtwomattersthathavebeenIeftforyourattentiononPetrie'sauditworkingpaperfiIefortheyearended31March2007:(i)Petrie'smanagementboarddecidedtorevaIuepropertiesfortheyearended31March2007thathadpreviousIyaIIbeenmeasuredatdepreciatedcost.AtthebaIancesheetdatethreepropertieshadbeenrevaIuedbyatotaIof$1-7miIIion.AnotherninepropertieshavesineebeenrevaIuedby$5,4miIIion.TheremainingthreepropertiesareexpectedtoberevaIuedlaterin2007.(5marks)Required:IdentifyandcommentontheimpIicationsofthesetwomattersforyourauditor'sreportonthefinaneiaIstatementsofPetrieCofortheyearended31March2007.NOTE:ThemarkaIlocationisshownagainsteachofthemattersabove.正确答案:(b)ImpIicationsforauditor'sreport□(i)SeIectiverevaIuationofpremisesHTherevaIuationsarecIearIymateriaItothebaIancesheetas$1,7miIIionand$5,4miIIionrepresent5,5%and17-6%ロoftotaIassets,respectiveIy(and23•1%intotal).AstheeffectsoftherevaIuationonIineitemsinthefinanciaIstatementslarecIearIyidentified(e.g.revaIuedamount,depreciation,surpIusinstatementofchangesinequity)thematterisnot□pervasive.OThevaIuationsoftheninepropertiesaftertheyearendprovideadditionaIevidenceofconditionsexistingattheyearend□andarethereforeadjustingeventsperIAS10EventsAftertheBaIanceSheetDate.□TutoriaInote:11is'now'stillIessthanthreemonthsaftertheyearendsothesevaIuationscanreasonabIybeexpected□toreflectyearendvaIues.□However,IAS16Property,PlantandEquipmentdoesnotpermittheselectiverevaIuationofassetsthusthewhoIecIass」ofpremiseswouIdneedtohavebeenrevaIuedfortheyearto31March2007tochangethemeasurementbasisforthis□reportingperiod.□TherevaIuationexerciseisincomplete.UnlesstheremainingthreepropertiesarerevaIuedbeforetheauditor'sreportonHthefinanciaIstatementsfortheyearended31March2007issignedoff:0(1)the$7,1revaIuationmadesofarmustbereversedtoshowaIIpremisesatdepreciatedcostasinpreviousyears;□ORロ(2)theauditor5sreportwouIdbequaIified'exceptfor5disagreementregardingnon-compIiancewithIAS16.-WhenitisappropriatetoadopttherevaIuationmodeI(e.g.nextyear)thechangeinaccountingpoIicy(fromacostmodeItoarevaIuationmodeI)shouIdbeaccountedforinaccordancewithIAS16(i.e.asarevaIuation).□TutoriaInote:IAS8AccountingPolicies,ChangesinAccountingEstimatesandErrorsdoesnotappIytotheinitial□appIicationofapoIicytorevaIueassetsinaccordancewithIAS16.□AssumingtherevaIuationiswrittenback,beforegivinganunmodifiedopinion,theauditorshouIdconsiderwhythethree□propertieswerenotrevaIued.InparticuIarifthereareanyindicatorsofimpairment(e.g.physicaIdilapidation)thereIIshouIdbesufficientevidenceontheworkingpaperfiletoshowthatthecarryingamountofthesepropertiesisnotImateriaIIygreaterthantheirrecoverabIeamount(i.e.thehigherofvalueinuseandfairvaIuelesscoststoseiI).I11fthereisinsufficientevidencetoconfirmthatthethreepropertiesare