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The legislation in Country S provides for an indexation allowance in the calculation of capital tax. STU operates in Country S where the indexation factor for the period 1 January 20X1 to 31 December 20X6 is 20%

STU purchased a building for $64,000 on 1 January 20X1, incurring legal fees of $4,000. STU sold the building for $86,000 on 31 December 20X6 before selling fees of $3,500

What is the chargeable capital gam arising on STU's disposal of the building?

Options:

S11,600

$5,700

S900

$200

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Question 2

In which of the following concepts is profit an increase in the nominal value of capital over a period?

Options:

Inflationary capital maintenance

financial capital maintenance

Operating capital maintenance

Physical capital maintenance

Question 3

Which of the following is correct?

The primary purpose of a cash budget prepared on a monthly basis is to determine:

Options:

next month's sales volumes.

the amount of inventory to purchase in the following month.

when to pay employees salaries.

whether there will be sufficient cash in the bank to meet requirements.

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