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NEW QUESTION: 1
The financial statements of JK for the year ended 31 August 20X4 were approved on 10 November 20X4.
Within these financial statements which of the following would have been treated as a non-adjusting event in accordance with IAS 10 Events After the Reporting Period?
A. Inventory which was originally valued at its cost of $45,000 being sold for $37,000 in September 20X4.
B. The completion of a court case on 5 November 20X4 in which JK was ordered to pay damages of
$150,000.
C. Notification received on 31 August that one of JK's major customers had gone into liquidation and was unlikely to pay any outstanding invoices.
D. A fire in JK's main warehouse on 3 September 20X4 destroying 60% of the inventory that had been held at the year end.
Answer: D

NEW QUESTION: 2
How is the standard cost of a manufactured configured item calculated?
A. The standard cost of a model item is calculated.
B. The standard cost is calculated for every possible combination of options under a model
C. It is based on the material and resource requirements of a released work order.
D. It is based on the actual cost of the work order after it is completed.
Answer: A

NEW QUESTION: 3
Select the correct statement regarding test planning and control
A. Risk and Test coverage is not a metric for test planning and control.
B. Test planning includes identifying test activities and resources required for the test effort.
C. Test controlling is a one-time activity that will occur at the beginning of the test effort.
D. Complex relationships (many to many, one to many) cannot exist among test conditions, test cases and test procedures.
Answer: B

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