Level 4 Optional Units Test

In what circumstances can the acceptance of an offer be conditional?
Select all options that apply.

The Sale of Goods Act 1979 states that goods must be of satisfactory quality, fit for the purpose, and as described.
If a customer returns a product to a retailer within a week of purchase because it has failed in one of these
respects, what is the retailer obliged to do?

Select all the options that apply.

The ‘fast track’ offered by the County Court relates to which of the following range of amounts due:

In 2014/15, Ellie received dividend income of £10,800 and bank interest of £4,800. What is Ellie’s gross income for 2014/15?

From the following statements, select those that are true. (There may be more than one correct answer)

n 2014/15, Mark, born 1 June 1971, had a gross salary of £60,000, received dividend income of £4,500 and made a net gift aid donation of £2,400. What is Mark’s total tax liability for 2014/15?

Alan, a sole trader, ceased to trade on 31 August 2014, the balances on his capital allowance computation on 5 April 2014 were:
General pool – £12,500
30% private use car with CO2 emissions of 155 g/km – £6,000
Alan sold the pool for £13,000 and kept the car, which had a market value of £4,000.
Calculate the total capital allowances for the period ended 31 August 2014.

A sole trader made the following payments during the year:
£143 – Class 2 National Insurance Contributions
£6,000 to his daughter, who is his genuine receptionist
£24,000 to himself
£7,500 for his tax bill for the previous year.

The expenditure which is allowable is

If a small company has an accounting period ended 31 March 2015, when will the Corporation Tax for the period be due for payment?

Clapham Limited uses an industry wage rate index to forecast future monthly wage costs.
Employees receive a pay increase in January each year, based on the index for that month.
The current monthly wage cost of £94,550 was calculated based on a wage index of 467.
The forecast wage rate index for the next four months is:

If the company uses the forecast wage rate index, what will be the wage cost for January, to the nearest £? (Select the correct option).

Bank rate in the UK is:

A company has the following levels of current assets and liabilities:

Tickett & Run are auditors of Bolington Plc which is a manufacturer of specialised parts for the car industry.
It supplies parts to car manufacturers throughout Europe but also operates a chain of DIY stores where
members of the public can buy parts and accessories for cars and caravans.

The audit manager is briefing the audit team. The manager is likely to ask the audit team to pay special attention to certain accounting systems.
Select which combination of items will require particular audit focus.

Washparts Ltd is a company which sells parts for domestic appliances (washing machines, dishwashers etc).
Retail customers can only buy over the internet; trade customers, such as plumbers, can either buy over the internet
or collect the parts from the Washparts premises. Most trade customers buy on credit and take advantage of bulk discounts
and early payment discounts. Washparts is a subsidiary of a larger company and makes all its inventory purchases from its parent company.

In addition to inventory activities, which one of the following combinations of accounting systems is likely to be subject to detailed external audit?

The following is a description of some of the procedures that are carried out within the accounts payable system of Andersen Ltd.

Select which is a strength in the internal control system.