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Entity A entered into a 3 year operating lease on 1 April 20X3. The rentals are £5,000 a year payable in advance with an additional payment of $1,800 payable on 1 April 20X3.

The rental expense to be included in the statement of profit or loss for the year ended 31 December 20X3 will be:

Options:

$4,200

$5,000

$6,800

$5,600

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Question 2

What is meant by the term "a placing of ordinary shares"?

Options:

Selling new ordinary shares to a financial institution on a pre-arranged basis.

Selling new ordinary shares directly to the public.

Selling existing ordinary shares to new investors through a stock exchange.

Selling new ordinary shares to existing shareholders.

Question 3

ST has in issue unquoted 7% debentures which were issued at par and are redeemable in 1 year's time. These debentures cannot be traded. The yield to maturity on these debentures has been calculated at 5%.

Which of the following would explain why the yield to maturity is lower than the coupon?

Options:

ST will benefit from the tax relief on the interest payment.

The debentures will be redeemed at a discount to their par value.

The debentures will be redeemed at their par value.

The market value of the debentures must be higher than their par value.

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F2 Advanced Financial Reporting Questions and Answers

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