Which one of the following statements about an imprest system of petty cash is c-新东方在线职业题库

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Which one of the following statements about an imprest system of petty cash is correct?

A

An imprest system for petty cash controls small cash expenditures because a fixed amount is

paid into petty cash at the beginning of each period.

B

The imprest system provides a control over petty cash spending because the amount of cash

held in petty cash at any time must be equal to the value of the petty cash vouchers for the

period

C

An imprest system for petty cash can operate without the need for petty cash vouchers or

receipts for spending.

D

An imprest system for petty cash helps with management of small cash expenditures and

reduces the risk of fraud

Chapter5Ledgeraccountsanddoubleentry

An imprest system for petty cash helps with management of small cash expenditures and reduces the risk of fraud. The

amount paid in to replenish petty cash at the beginning of each period should be the amount of petty cash spending in the

previous period, which is the total of expenditures shown by petty cash vouchers for the previous period. The amount of

petty cash at any time is the maximum petty cash balance minus the value of the petty cash vouchers for the period.

多做几道

Which of the following is a ratio which is used to measure how much a business owes in relation to its size?

A

Asset turnover

B

Profit margin

C

Gearing

D

Return on capital employed

A business operates on a gross profit margin of 331/3%. were $680. Gross profit on a sale was $800, and expenses

What is the net profit margin?

A

3.75%

B

5%

C

11.25%

D

22.67%

A company has the following details extracted from its statement of financial position：

$'000

Inventories 1,900

Receivables 1,000

Bank overdraft 100

Payables 1,000

The industry the company operates in has a current ratio norm of 1.8. Companies who manage liquidity well in this industry

have a current ratio lower than the norm.

Which of the following statements accurately describes the company’s liquidity position?

A

Liquidity appears to be well managed as the bank overdraft is relatively low

B

Liquidity appears to be poorly-controlled as shown by the large payables balance

C

Liquidity appears to be poorly-controlled as shown by the company’s relatively high current ratio

D

Liquidity appears to be poorly-controlled as shown by the existence of a bank

Why is analysis of financial statements carried out?

A

So that the analyst can determine a company’s accounting policies

B

So that the significance of financial statements can be better understood through comparisons

with historical performance and with other companies

C

To get back to the ‘real’ underlying figures, without the numbers being skewed by the

requirements of International Financial Reporting Standards

D

To produce a report that can replace the financial statements, so that the financial statements

no longer need to be looked at

Which of the following transactions would result in an increase in capital employed?

A

Selling inventory at a profit

B

Writing off a bad debt

C

Paying a payable in cash

D

Increasing the bank overdraft to purchase a non-current asset

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