Past Paper free essay sample

Knowledge module Financial Accounting (International) Time allowed: 2 hours ALL FIFTY questions are compulsory and MUST be attempted. Do NOT open this paper until instructed by the supervisor. This question paper must not be removed from the examination hall. The Association of Chartered Certified Accountants Paper F3 (INT) ALL 50 questions are compulsory and MUST be attempted Please use the Candidate Registration Sheet provided to indicate your chosen answer to each multiple choice question. Should details of material adjusting or material non-adjusting events after the balance sheet date be disclosed in the notes to financial statements according to IAS 10 Events After the Balance Sheet Date? A B Adjusting events Non-Adjusting events (1 mark) 2 At 30 June 2005 a company’s allowance for receivables was $39,000. At 30 June 2006 trade receivables totalled $517,000. It was decided to write off debts totalling $37,000 and to adjust the allowance for receivables to the equivalent of 5 per cent of the trade receivables based on past events. Attitudinal loyalty is composed of commitment and trust in the brand and/or organisation which will have impacts on sales both in the short and longer term. This type of loyalty is more likely to be an indicator of the potential longer term relationships that will be possible with given customers. Attitudinal loyalty is also likely to have influence on word of mouth and customer advocacy which may lead to indirect impacts on longer term sales or on costs of servicing customers.