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A-level ACCOUNTING 7127/1 Paper 1 Financial Accounting Mark scheme Version: 1.0 Final Mark Scheme

Mock Exam #1 – CMA Part 2 NOTE: Present value tables are provided on the final pages of this exam. Question 1: Which of the following is true concerning the calculation of operating income? a) b) c) d) Operating income is calculated as sales revenue minus cost of goods sold minus selling, general, and administrative expenses, plus earned interest and dividend income. Operating income is calculated as sales revenue minus cost of goods sold minus selling, general, and administrative ex...

sample Part 2 Mock 2 answers

Mock Exam #1 – CMA Part 2 Question 1: Birch Corporation had income available to common shareholders for the year of $101,504 and a simple capital structure. At the beginning of the year, there were 24,000 shares outstanding. On March 1, 5,400 new shares were issued for cash. On July 1, 6,600 new shares were issued for cash. On December 1, the company reacquired 960 Treasury shares. Basic Earnings Per Share, rounded to the nearest cent, were a) $3.20 b) $3.45 c) $3.26 d) $2.90 Question 2:...

Part2 Mock1 Answer

Global Business Environment – INBM 103

INBM 207 International Careers and Culture Summer 2024 Instructor: Final Exam 100 marks Time: 2 hours Student Name: Student ID: 1. Explain the term “melting pot”. (5 marks) 2. What is the meaning of “ethnocentrism”? (5 marks) 3. List any 5 communication barriers. (5 marks) 4. Describe Capitalism, Socialism, and Communism. Talk about the features of each system, countries that currently follow that system, and provide some comparisons between each of the three systems. (...

How are revenues related to current assets? Revenues are related to current assets through the sales process. When inventory is sold, the sale is recorded on account and inventory is reduced. Debit: Accounts Receivable XXX Credit: Sales XXX Debit: Cost of Sales XXX Credit: Inventory XXX The dollar amount of sales minus cost of sales will create gross profit. Assets will increase by the same amount as gross profit. 2 FC.uations.FC002_1709 In regards to exchange rates, what's th...

What is the Breakeven Point in C-V-P analysis? Breakeven is defined as the level of sales and activity volume at which revenues exactly offset total costs, both fixed and variable. 2 FC..FC006_1709 What is the “key activity” for an organization determining its C-V-P analysis? The key activity is what primarily drives costs and revenues and can be defined as almost anything for any organization (items sold for a retail store, feet drilled for an oil driller, billable hours for a la...

Describe the probability risk assessment technique, Expected Loss. Probabilities are assigned to a loss outcome and the weighted-average probability of the amount of loss is Expected Loss. 2 FC..FC003_1709 Regarding risk mitigation, how can a firm reduce (mitigate) the risk? The firm can engage in actions that will reduce the risk associated with a particular action. 3 FC..FC002_1709 What is the inherent problem with estimating the likelihood of an outcome? The estimation process ...