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EXAMPLE_1_2016.docx - EXAM COVER SHEET NOTE This exam paper...

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EXAM COVER SHEET NOTE: This exam paper CANNOT BE RETAINED by the student EXAM DETAILS Course Code: Course Description: Financial Accountability and Reporting Date of exam: Start time of exam: Duration of exam: 2hr 15min Total number of pages (incl. this cover sheet) 8 ALLOWABLE MATERIALS AND INSTRUCTIONS TO CANDIDATES 1. Write your full name and student number on each exam booklet together with the number of exam books used. 2. Students must not write, mark in any way any exam materials, read any other text other than the exam paper or do any calculations during reading time. 3. All mobile phones must be switched off and placed under your desk. You are in breach of exam conditions if it is on your person (ie. pocket). 4. This is a CLOSED BOOK Exam. 5. Commence each question on a new page. Carry out the instructions on the front cover of the exam script book and the front of this exam paper. 6. Non text storing calculators are allowed. The use of other electronic devices (e.g. text storing calculators, computers, electronic dictionaries, phones) is not allowed. 7. Bi-lingual dictionaries are not allowed. 8. This examination contains four (4) questions. Attempt ALL questions and ALL parts of questions. 9. Show all calculations/workings in deriving your answers. 10. This examination paper adds to 60 marks and comprises 60% of the total marks allocated in this course. To obtain a pass in this course, you must achieve at least 50% of the available marks in this course. Page 1 of 7
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QUESTION 1 PART A Zodiac Ltd is a well known manufacturer of rugs in the Australian market. On 1 July 2014 Zodiac acquired a copyright relative to a peculiar technique to weave the rug strings. The company incurred $ 10,000 expense to buy the copyright, which is estimated to have a useful life of 20 years. In consideration of the great success of its name on the market, at the end of the financial year (30 June 2015) Zodiac estimates the value of its brand name to be $
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