Online Access Free BA3 Practice Test

Which ONE of the following is an asset?

• A.Sales tax paid on an item
• B.Sales tax exempt from an item
• C.Sales tax received from the sale of an item

Refer to the Exhibit.

The following information relates to a business at its year end:
The prime cost of goods manufactured during the year is:

• A.£8,150,000
• B.£5,550,000
• C.£8,800,000
• D.£8,350,000

Refer to the Exhibit.

Accounting information is required for a wide range of users both internal and external. Each user has a different need for the information.
Which of the following is the correct combination of user and need?

• A.C
• B.D
• C.B
• D.A

GG has the following statement of profit or loss extract for the year ended 31 December 20X3

What is the interest cover for GG for the year ended 31 December 20X3?

• A.4.0 times.
• B.2.8 times
• C.3.5 times
• D.4.5 times

GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

• A.The difference between the float and total spend of $65
• B.The float total of $250.
• C.The total spend of $185
• D.The total of the float and total spend of $435