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2021 Accounting End of Term Mock Exam (icas)-1 (1)mmmm.docx...

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UFP Accounting & FinanceMock ExamNameDate of BirthCEG number080SignatureTime allowed:2 hoursOpen the exam paper only when instructed to do so by the invigilatorInstructions:You should answerallquestions.You should answer the questions here in this booklet.Electronic dictionaries maynotbe used.The use of paper dictionaries is permitted.The use of non-graphing calculators is permitted.Total points for this paper 100%For teachers’use onlySectionsPointsavailable1stmarker2ndmarkerA20B42C26D12Total points out of 100PercentageGrade
UFP Accounting and Finance FORMULA TABLERequirementsFormulaePROFITABILITY RATIOSGross profit percentageGross profitx100RevenueNet profit percentageNet Profitx100RevenueReturn on Net assets employedProfit before taxx 100Net assets*Return on capital employedProfit from operationsx100Capital employed**SOLVENCY/LIQUIDITY RATIOsCurrent ratioCurrent assetsCurrent liabilitiesAcid test (liquid) ratioCurrent assets –inventoryCurrent liabilitiesCapital gearing percentageNon-current liabilitiesx 100Capital Employed**ASSET UTILISATION RATIOSTrade Receivables collection period in daysTrade Receivablesx365 daysRevenueTrade Payables payment period in daysTrade Payablesx365 daysCredit Purchases or cost of salesInventory turnover in daysAverage inventoryx 365 daysCost of SalesInventory turnover (times per year)Cost of salesAverage inventoryNet Asset ratioRevenueNet Assets**net assets are calculated (for ratio analysis purposes only) as: Non-current assets + current assets – current liabilities.** capital employed is calculated as: (Issued share capital +Reserves +Non current liabilities)Please note: We advise that students use the formulae above, however students will not be penalised for using analternative formula as long as it is correct.

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Term
Fall
Professor
N/A
Tags
Balance Sheet, Generally Accepted Accounting Principles, Adams Ltd, al Ltd

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