Accounting for AQA: Part 2: Chapter 6

Question 1 Introduction

A statement of changes in equity shows the changes that have taken place over the year to the shareholders' stake in the company, both realised profits or losses and unrealised profits.

Question 1

The shareholders of a limited company do not take part in the day-to-day running of the company (unless they are also directors).

True

False

Question 2

The accounts department of a limited company is responsible for ensuring that the company keeps accounting records and that financial statements are prepared in accordance with the Companies Act.

True

False

Question 3

IAS 1, Presentation of Financial Statements, requires that the published accounts of limited companies comply with the accounting concepts of going concern, accruals, consistency and materiality.

True

False

Question 4

The published income statement of a limited company must detail every overhead or expense incurred by the company.

True

False

Question 5

A statement of changes in equity shows the changes that have taken place over the year to the shareholders' stake in the company, both realised profits or losses and unrealised profits.

True

False

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Accounting for AQA: Part 2: Chapter 6

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

The shareholders of a limited company do not take part in the day-to-day running of the company (unless they are also directors).

Question 2

The accounts department of a limited company is responsible for ensuring that the company keeps accounting records and that financial statements are prepared in accordance with the Companies Act.

Question 3

IAS 1, Presentation of Financial Statements, requires that the published accounts of limited companies comply with the accounting concepts of going concern, accruals, consistency and materiality.

Question 4

The published income statement of a limited company must detail every overhead or expense incurred by the company.

Question 5

A statement of changes in equity shows the changes that have taken place over the year to the shareholders' stake in the company, both realised profits or losses and unrealised profits.

AAT Q2022 Books

Accounting for AQA: Part 2: Chapter 6

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

The shareholders of a limited company do not take part in the day-to-day running of the company (unless they are also directors).

Question 2

The accounts department of a limited company is responsible for ensuring that the company keeps accounting records and that financial statements are prepared in accordance with the Companies Act.

Question 3

IAS 1, Presentation of Financial Statements, requires that the published accounts of limited companies comply with the accounting concepts of going concern, accruals, consistency and materiality.

Question 4

The published income statement of a limited company must detail every overhead or expense incurred by the company.

Question 5

A statement of changes in equity shows the changes that have taken place over the year to the shareholders' stake in the company, both realised profits or losses and unrealised profits.