AY 2019 Sem 1 B215MSA

School: ITE College West - Course: BUSINESS 123 - Subject: Accounting

B215 Financial Accounting AY2019 Semester 1 Mid-Semester Examination (MSA) This segment is to be used by staff grader(s) only. QuestionNumberMarksAwardedMax Marks 11 21 31 41 51 61 71 81 91 105 111 124 134 147 Total30 Instructions to student: 1)Do not turn over this question paper until you are instructed to do so by the invigilator. 2)Write your name, student ID, assessment venue and seat number in the table provided at the top of each page. 3) For this question paper, there are15pages (including this cover page). 4)For this assessment, you are allowed to: Refer to materials stored in your laptop. Have a blank piece of paper for rough working purpose. (Note that the sheet of rough working paper will not be accepted for submission at the end of the assessment.) Refer to paper-based notes (in bound form, and no larger than A4 size) and textbooks. 5) For this assessment, you areNOTallowed to: Share any material, such as calculators, with another student. Communicate with any person other than the invigilator. Use any communication devices such as handphone or smart watches while at the assessment venue. 6)All rules and regulations pertaining to summative assessments and academic integrity stated in the Student Handbook shall also apply. This segment is to be used by the invigilator only and for 'online' and 'online and paper' mode assessment only. Please tick the box below if the student has done part of the assessment online: Invigilator'sName:Invigilator's Signature: Partially done online

Name:__________________Student Number: _________ ©2019 RP/SMC/B215/MSAPage 2 of 15SECTION A (9 MARKS) Kerries Pte Ltd ("Kerries") is a supplier of baby diapers. Q1)Which one of the following data can be obtained from Kerries' Statement of Cash Flow? (a)Amount of cash generated (b)Amount of sales revenue (c)Number of employees (d)Number of ordinary shares outstanding [1 mark] Answer: Q2)Kerries presented its financial statements to its shareholders before the deadline and kept all the supporting documents such as its purchase receipts. Based only on the information given, which of the following qualitative characteristics has Kerries complied with? (i)Comparability (ii)Timeliness (iii)Verifiability (a)Options (i) and (ii) only (b)Options (i) and (iii) only (c)Options (ii) and (iii) only (d)Options (i), (ii) and (iii)