Intermediate Accounting Sample Test

Questions: 7 Students must attempt no more than 6 questions Marks per question: 10 Exam weighting: 60%.

Problems like the following will be included on the final exam. Your instructor may indicate

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

* Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

* Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Defined contribution plan - employer agrees to make a defined contribution to a pension plan

The following problem appeared in the February-March supplementary grade 12 examination of 2013 (paper 2). Please take note that this question is subsection of a question which already introduced some information. The original question number in the paper is 4.3.

- Any visual demonstrations will be applied to the paper via jpgs. Any calculations performed will follow a set and defined procedure detailed below.

3. Assume that cost of goods sold for a company consists only of variable costs and gross margin is = (revenue – cost of goods sold)/revenue. Which of the following is true

Ensuring that complete and accurate financial information from a company's capital structure and its operations is made available to both executives and the board of directors (and to other shareholders and relevant governmental entities, etc.) is an essential task of the company's personnel. Relevant accounting officers and managers need to be able to track independent expenditures, sales revenue, and other changes in the company's financial makeup and strength, and in many companies this requires additional accounting staff as well. In a pension organization that deals solely with the transfer and the tracking of money to and from various accounts, investments, and payees, these accounting tasks are especially important. The following paragraphs provide a brief review of the practices at one pension organization, reviewing procedures and results and making recommendations.

ABCO Corporation has a parts division in country A. Its assembly division is in country B, which has a higher tax rate than country A. To minimize the corporation's overall income tax, how should ABCO set its transfer prices between its parts and assembly divisions?