12 At 1 July 2004 a company had prepaid insurance of $8,200. On 1 January 2005 the company

r prices,【1】that businesses were still protecting consumers【2】the full brunt(冲击) of higher energy costs.

The Producer Price Index,【3】measures what producers receive for goods and services,【4】1 percent in July, the Labor Department reported yesterday, double【5】economists had been expecting and a sharp turnaround from flat prices in June. Excluding【6】and energy, the core index of producer prices rose 0.4 percent,【7】than the 0.1 percent that economists had【8】. Much of that increase was a result of an【9】increase in car and truck prices.

On Tuesday, the Labor Department said the【10】that consumers paid for goods and services in July were【11】0.5 percent over all, and up 0.1 percent, excluding food and energy.

12 the overall rise in both consumer and producer prices【13】caused by energy costs, which increased 4.4 percent in the month. (Wholesale food prices【14】0.3 percent in July.)【15】July 2004, wholesale prices were up 4.6 percent; the core rate【16】2.8 percent, its fastest pace since 1995.

Typically, increases in the Producer Price Index indicate similar changes in the consumer index【17】businesses recoup(补偿) higher costs from customers.【18】for much of this expansion, which started【19】the end of 2001, that has not been the【20】In fact, many businesses like automakers have been aggressively discounting their products.

(1)

A．indicate

B．to indicate

C．indicating

D．indicated

ed P’s son R as a partner. P

guaranteed that R’s profit share would not be less than $25,000 for the six months to 31 December 2004. The profitsharing

arrangements after R’s admission were P 50%, Q 30%, R 20%. The profit for the year ended 31 December

2004 is $240,000, accruing evenly over the year.

What should P’s final profit share be for the year ended 31 December 2004？

A $140,000

B $139,000

C $114,000

D $139,375

nt date on( ).

A. 5 July 2004 B. 10 July 2004

C. 15 July 2004 D. 31 July 2004-8-18

accounting records:

$

Inventory 1 July 2004 138,600

30 June 2005 149,100

Purchases for year ended 30 June 2005 716,100

Orset makes a standard gross profit of 30 per cent on sales.

Based on these figures, what is Orset’s sales figure for the year ended 30 June 2005？

A $2,352,000

B $1,038,000

C $917,280

D $1,008,000

2 Assume that today’s date is 1 July 2005.

Jan is aged 45 and single. He is of Danish domicile but has been working in the United Kingdom since 1 May 2004

and intends to remain in the UK for the medium to long term. Although Jan worked briefly in the UK in 1986, he

has forgotten how UK taxation works and needs some assistance before preparing his UK income tax return.

Jan’s salary from 1 May 2004 was ￡74,760 per annum. Jan also has a company car – a Jaguar XJ8 with a list price

of ￡42,550 including extras, and CO2 emissions of 242g/km. The car was available to him from 1 July 2004. Free

petrol is provided by the company. Jan has other taxable benefits amounting to ￡3,965.

Jan’s other 2004/05 income comprises:

￡

Dividend income from UK companies (cash received) 3,240

Interest received on an ISA account 230

Interest received on a UK bank account 740

Interest remitted from an offshore account (net of 15% withholding tax) 5,100

Income remitted from a villa in Portugal (net of 45% withholding tax) 4,598

The total interest arising on the offshore account was ￡9,000 (gross). In addition, Jan has not remitted other

Portuguese rental income arising in the year, totalling a further ￡1,500 (gross).

Jan informs you that his employer is thinking of providing him with rented accommodation while he looks for a house

to buy. The accommodation would be a two bedroom flat, valued at ￡155,000 with an annual value of ￡6,000. It

would be made available from 6 August 2005. The company will pay the rent of ￡600 per month for the first six

months. All other bills will be paid by Jan.

Jan also informs you that he has 25,000 ordinary shares in Gilet Ltd (‘Gilet’), an unquoted UK trading company. He

has held these shares since August 1986 when he bought 2,500 shares at ￡4.07 per share. In January 1994, a

bonus issue gave each shareholder nine shares for each ordinary share held. In the last week all Gilet’s shareholders

have received an offer from Jumper plc (‘Jumper’) who wishes to acquire the shares. Jumper has offered the following:

– 3 shares in Jumper (currently trading at ￡3.55 per share) for every 5 shares in Gilet, and

– 25p cash per share

Required:

(a) Calculate Jan’s 2004/05 income tax (IT) payable. (11 marks)

(c) Assuming that she will survive until July 2009, advise on the lifetime inheritance tax (IHT) planning

measures that could be undertaken by Debbie, quantifying the savings that can be made. (7 marks)

For this question you should assume that the rates and allowances for 2004/05 apply throughout.

______ to ______ containing ______ days.

A credit stipulates that the shipment must be made on or about 27 June. Which of the following shipment dates would be acceptable？

A. 20 June

B. 27 June

C. 02 July

D. 03 July

(1)( ) A and B only

(2)( ) A and D only

(3)( ) B and C only

(4)( ) C and D only

ility company. Volcan operates

a national supermarket chain of 23 stores, five of which are in the capital city, Urvina. All the stores are managed in

the same way with purchases being made through Volcan’s central buying department and product pricing, marketing,

advertising and human resources policies being decided centrally. The draft financial statements for the year ended

31 March 2005 show revenue of $303 million (2004 – $282 million), profit before taxation of $9·5 million (2004

– $7·3 million) and total assets of $178 million (2004 – $173 million).

The following issues arising during the final audit have been noted on a schedule of points for your attention:

(a) On 1 May 2005, Volcan announced its intention to downsize one of the stores in Urvina from a supermarket to

a ‘City Metro’ in response to a significant decline in the demand for supermarket-style. shopping in the capital.

The store will be closed throughout June, re-opening on 1 July 2005. Goodwill of $5·5 million was recognised

three years ago when this store, together with two others, was bought from a national competitor. It is Volcan’s

policy to write off goodwill over five years. (7 marks)

Required:

For each of the above issues:

(i) comment on the matters that you should consider; and

(ii) state the audit evidence that you should expect to find,

in undertaking your review of the audit working papers and financial statements of Volcan for the year ended

31 March 2005.

NOTE: The mark allocation is shown against each of the three issues.

新的《中华人民共和国传染病防治法》从何时开始正式施行（)。

A、2004/9/1

B、2004/5/1

C、2004/1/1

D、2004/12/1

A.2004 年 12 月 1 日

B.2003 年 1 月 1 日

C.2009 年 12 月1日

D.2008年1月1日