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GH issued a 6% debenture for $1,000,000 on 1 January 20X4. A broker fee of $50,000 was payable in respect of this issue. The effective interest rate associated with this debt instrument is 7.2%.

The carrying value of the debenture at 31 December 20X4 is:

Options:

$958,400

$1,065,600

$1,012,000

$961,400

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Question 2

Which of the following is a related party according to the definition of a related party in IAS24 Related Party Disclosures?

Options:

Major customer

Provider of finance

Managing Director

Major supplier

Question 3

LM is preparing its consolidated financial statements for the year ended 30 April 20X5. During the year LM acquired 30% of the equity shares of AB giving it significant influence over AB.

LM conducted ratio analysis comparing the financial performance of the group for 30 April 20X4 and 20X5.

Which of the following ratios would not be comparable as a result of the acquisition of AB?

Options:

Operating profit margin.

Return on capital employed.

Earnings per share.

Interest cover.

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