da1_2003_jun_q.pdfVIP

A Diploma in Financial Management PAPER DA1, INCORPORATING SUBJECT AREAS e – INTERPRETATION OF FINANCIAL STATEMENTS l – PERFORMANCE MANAGEMENT MONDAY 2 JUNE 2003 u QUESTION PAPER d Time allowed 3 hours This paper is divided into three sections o Section A ALL 20 questions are compulsory and MUST be answered Section B THREE questions in total to be answered. and Candidates MUST answer ONE question from M Section C Section B, ONE question from Section C and ONE further question from either Section B or Section C. Section A – All 20 questions are compulsory and MUST be attempted Each question within this Section is worth 2 marks. Please use the Candidate Registration Sheet provided to indicate your chosen answer to each multiple choice question. 1 The Companies Acts specify that every limited company must prepare annual Financial Statements. Who is specifically charged with this responsibility? A The Financial Director B The Shareholders C The Auditors D The Board of Directors 2 Which one of the following groups is responsible for issuing Financial Reporting Standards (FRSs)? A Financial Reporting Council B Urgent Issues Task Force C Accounting Standards Board D Financial Reporting Review Panel 3 In the current financial year, Natamo Ltd has raised a loan for £3m. The loan is repayable in 10 equal half yearly instalments. The first instalment is due six months after the loan was raised. How will the loan be reported in Natamo’s next financial statements? A as a current liability B