Practice Unit 3 Exam Revision Questions

[greenappletea]

Thanks for posting up the revision questions. Really helped me revise for my exam, lol it's on Tuesday... wish me luck! ^^

[Nima2703]

Hey I'm new to ATARNotes, how do I know your email? can you send me all solutions?

[myshymelody]

FINAL SET OF REVISION QUESTIONS.

REVISION QUESTION 13           KEY TOPICS REVISION

REVISION EXAM QUESTION 14       EXAM STYLE QUESTIONS

REVISION EXAM QUESTION 15      EXAM STYLE QUESTIONS

ANSWER BOOKLET 14 

ANSWER BOOKLET 15 

ALL SOLUTIONS WILL BE GIVEN THROUGH EMAIL.



Thankyou!! Can you please send the solutions to me please

[VCEcupcakes]

Hi can you please send me the solutions as well? thanks.

[sam.utute]

Just putting it out there:
Big thank you to Huss for not only providing so many quality resources, but taking the time during his own exam period to write up solutions (and send them to God knows how many people) so that you guys are prepared for the exam on Tuesday.

Well done mate! I'm sure everyone shares my sentiments.

Sam

[huss48]

thanks sam.


useful extra revision exam questions  for 2012 will be uploaded late on tonight.
Also important things to look for in the exam on tues plus advice.

[abcdqdxD]

thanks sam.


useful extra revision exam questions  for 2012 will be uploaded late on tonight.
Also important things to look for in the exam on tues plus advice.

Thanks for the resources, really appreciated

[abcdqdxD]

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

[Nima2703]

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

I think it's understandability because it removes unnecessary bulk from the general ledger therefore removing bulk from the balance sheet as well. As there isn't multiple debtors in the report, and only the total figure, it is more understandable, and the total figure is relevant to decision making if you say relevance, it could be both, it could also be reliability, as long as you can justify why

[huss48]

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

I think it's understandability because it removes unnecessary bulk from the general ledger therefore removing bulk from the balance sheet as well. As there isn't multiple debtors in the report, and only the total figure, it is more understandable, and the total figure is relevant to decision making if you say relevance, it could be both, it could also be reliability, as long as you can justify why

It's relevance.

the response from liverpoolxD  is a good one to note.

[abcdqdxD]

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

I think it's understandability because it removes unnecessary bulk from the general ledger therefore removing bulk from the balance sheet as well. As there isn't multiple debtors in the report, and only the total figure, it is more understandable, and the total figure is relevant to decision making if you say relevance, it could be both, it could also be reliability, as long as you can justify why

It's relevance.

the response from liverpoolxD  is a good one to note.

Hmm, makes sense. The reliability aspect does not link to reports as closely as relevance does.

[Nima2703]

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

In revision 18, question 3c asks:

Identify the QC bestserved by the Debtors Control account in the reports of a business

It could be Relevance since your only posting a single figure to the Balance Sheet - the omission of extra detail will not impact on the types of decision-making the balance sheet is used for.

It could also be reliability and linking it to the preparation of a Debtors Schedule which then ensures an accurate figure for Debtors Control is posted to the Balance Sheet.

Which one do you guys think it would be?

I think it's understandability because it removes unnecessary bulk from the general ledger therefore removing bulk from the balance sheet as well. As there isn't multiple debtors in the report, and only the total figure, it is more understandable, and the total figure is relevant to decision making if you say relevance, it could be both, it could also be reliability, as long as you can justify why

It's relevance.

the response from liverpoolxD  is a good one to note.

In NEAP I did, it stated understandability as well as relevance, it can be more than one

[link125]

In NEAP I did, it stated understandability as well as relevance, it can be more than one

Yeah I noticed this too

I think relevance would be the best thing to go with. Because you could also mention how the details of each transaction are already recorded in the Debtors subsidiary ledger, therefore it is only relevant to post the summarised totals in the Debtors Control account. You would be doing the same thing twice. But you would have to make sure the business in question actually does complete subsidiary ledgers.

How does that sound?

[abcdqdxD]

In NEAP I did, it stated understandability as well as relevance, it can be more than one

Yeah I noticed this too

I think relevance would be the best thing to go with. Because you could also mention how the details of each transaction are already recorded in the Debtors subsidiary ledger, therefore it is only relevant to post the summarised totals in the Debtors Control account. You would be doing the same thing twice. But you would have to make sure the business in question actually does complete subsidiary ledgers.

How does that sound?

Examiners tend to have a 'dislike' for Relevance. Have to be careful when you choose to use Relevance as a QC.

[link125]

In NEAP I did, it stated understandability as well as relevance, it can be more than one

Yeah I noticed this too

I think relevance would be the best thing to go with. Because you could also mention how the details of each transaction are already recorded in the Debtors subsidiary ledger, therefore it is only relevant to post the summarised totals in the Debtors Control account. You would be doing the same thing twice. But you would have to make sure the business in question actually does complete subsidiary ledgers.

How does that sound?

Examiners tend to have a 'dislike' for Relevance. Have to be careful when you choose to use Relevance as a QC.

If you can relate it well it can be acceptable

But yeah I noticed that too in the assessment reports

Understandability might be the safest bet, but would it be the best served QC by the debtors control account?

"best served" is debatable...