中三 試卷 (F3 Business Past Paper)
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內容節錄：
Secondary 3
Instructions:
(1) Answer all questions in Sections A - F.
(2) Write all your answers on the answer sheet provided.
Belilios Public School
Half-yearly Examination (2015-2016)
S3 BF HYE (2015-2016)
Business Fundamentals
Time allowed:
Maximum marks: 100 marks
Section D: Double-entry System
Section E: Financial Statements
S3 BF HYE (2015-2016) Answer Sheet
Queenie Ltd
Delivery Vans
S3 BF HYE (2015-2016) Answer Sheet
Business Fundamentals HYE (2015-2016) Answer Sheet
Section F: Application questions
S3 BF HYE (2015-2016) Answer Sheet
S3 BF HYE (2015-2016) Answer Sheet
S3 BF HYE (2015-2016) Answer Sheet
*** END OF PAPER ***
Secondary 3
Instructions:
SUGGESTED ANSWERS AND MARKING SCHEME
(1) Answer all questions in Sections A - F.
(2) Write all your answers on the answer sheet provided.
Belilios Public School
Half-yearly Examination (2015-2016)
Business Fundamentals
S3 BF HYE (2015-2016) Suggested Answers and Marking Scheme
Time allowed: 1 hour
Maximum marks: 100 marks
Section A: Multiple Choice Questions
Section B: Filling in the blanks.
(a) financial
decision-making
(f) Accounting cycle
(h) original
(i) Cost of goods sold
Section C: Short Questions
(k) purchases
(1) Net current assets
1(a) The firm's total assets as at 31 December 2015:
$(61,500 + 35,100+ 56,900) = $153,500
1(b) Assets are the resources owned by a business to generate revenue.
2(a) J Lee's capital:
$(49,000 + 5,790 +56,000 + 6,700) - $(9,000 + 3,240)
2(b) Capital is the total amount of resources supplied by the owner(s).
(o) durable
(p) more than
(q) Closer Economic Partnership Arrangement
13 (t) closing inventory
TWO types of external users of financial statements:
Lenders/ potential investors / suppliers /customers /government bodies.
(1 mark each)
4 Possible problem of the low net profit: too much expenses
The firm should exercise some policies to control expenses.
S3 BF HYE (2015-2016) Suggested Answers and Marking Scheme
(m) financial performance
(n) statement of financial position /
balance sheet
Section D: Double-entry System
Jul 1 Capital
5 Queenie Ltd
Jul 22 Bank
Jul 12 ABC Motors
Jul 22 Bank
Jul 28 Bank
Less Cost of goods sold:
123,000 Jul
Section E: Financial Statements
Queenie Ltd
14,000 Jul 5
Delivery Vans
Queenie Ltd
20,000 Jul 12 Delivery vans
Income Statement for the year ended 31 March 2015
S3 BF HYE (2015-2016) Suggested Answers and Marking Scheme
Add Purchases
Less Closing inventory
Gross profit
Add Other revenues:
Discounts received
Less Expenses:
Rent and rates
Sundry expenses
Carriage outwards
Wages and salaries
Motor expenses
Non-current assets
Office furniture
Delivery van
Current assets
Accounts receivable
Less Current liabilities
Accounts payable
Net current assets
Less Non-current liabilities
Financed by:
Capital as at 1 April 2014
Add Net profit for the year
Less Drawings
Section F: Application questions
Balance Sheet as at 31 March 2015
(Total: 25 marks)
The Hong Kong government does not control capital inflow and outflow. As such, the
IT company can transfer capital freely among different countries.
S3 BF HYE (2015-2016) Suggested Answers and Marking Scheme
The taxation system in Hong Kong is simple and the tax rate is low.
The Hong Kong government has just started the Innovation and Technology Bureau
which may help to promote the business of the company.
The Hong Kong government does not control the flow of information. As such, the IT
company can get transfer of information easily with other places.
[2 marks for each supporting reason, max. 4 marks]
High operating cost: Rent and wage level of Hong Kong is too high that investors are
reluctant to start their business here.
Serious air pollution: Air pollution will harm health and investors may withdraw
their investment plan.
Stagnant technology development: Inclination to service industry of Hong Kong leads to
lacking resources in technological development which may hinder the development of
the company.. Investors would change to other places for their scientific research.
(Total: 8 marks)
Economic factor: Wage level in China is relatively low and lower the production cost of
Social factor: People in Dongguan can speak Cantonese so that they can communicate
with Hong Kong management more easily.
(c) Legal factor: Rules and regulations protecting the rights of workers in China have been
strengthened and the Group needs to strictly comply.
(Total: 6 marks)
*** END OF PAPER ***
S3 BF HYE (2015-2016) Suggested Answers and Marking Scheme
Section A: Multiple Choice Questions
The business sector is important to the Hong Kong economy as it can
provide employment opportunities
raise government revenue
earn foreign exchange to pay for imports
All of the above
2 Wholesale and retail trades are examples of
Choose the BEST answer for each question.
In what way(s) is/are China and Hong Kong closely related?
China helps many Hong Kong firms raise capital in the stock market.
(ii) Many Hong Kong companies have relocated their production bases to the Mainland
to save on costs.
(iii) Hong Kong serves as an entrepôt to facilitate trade between the Mainland and other
knowledge-based
(i) and (ii) only
A (i) and (iii) only
(iii) and (iv) only
(i), (ii) and (iv) only
(i), (ii), (iii) and (iv)
Which of the following events is not a transaction?
Receipt of bank interest
Payment of a telephone bill
Packed goods for delivery
Borrowed money from a bank
(ii) and (iii) only
(i), (ii) and (iii)
Under the 'big market, small government' as described by the HKSAR government,
(i) everyone can start a business regardless of the business nature in Hong Kong.
(ii) the government plays a passive role in facilitating the functioning of the market.
(iii) the government minimizes its intervention in the market.
(iv) the government encourages fair competition.
S3 BF HYE (2015-2016)
production.
Which of the following is/are not (a) financial statement(s)?
(i) Bookkeeping
(ii) An income statement
(iii) A tax return
(iv) A statement of financial position
The correct order of steps in the accounting process for turning transaction data into
useful information for decision-making is
(i), (ii), then (iii)
(iii), (i) then (ii)
(iii), (ii) then (i)
(i), (ii), (iii) then (iv)
Which of the following is a liability of a firm?
The capital of the firm
Premises owned by the firm
Money lent to the firm by a bank
Money lent by the firm to a customer
Which of the following is an asset of a firm?
The capital of the firm
Furniture owned by the firm
Money owed by the firm to a supplier
The profits made by the firm
10 Which of the following statements is correct?
(i) communicating information
(ii) classifying and summarising data
(iii) recording transactions
(iv) controlling
(i) and (iii) only
(ii) and (iv) only
(ii) and (iii) only
Accounting is important because it helps users make decisions by providing them
with profit and loss of a firm.
Without accounting, people would not know a firm's financial objectives.
D The only objective of accounting is to keep financial records.
Many different types of people and organizations need accounting information,
including business owners, management, investors and the government.
S3 BF HYE (2015-2016)
11 When a firm receives a cheque from a debtor, the effects on its assets and liabilities are:
Effect on liabilities
Reduce bank loan
Effect on assets
Decrease bank
Increase bank; decrease debtors
Decrease bank; increase debtors
D Increase bank; increase debtors
12 Making payments to creditors affects the accounting equation in the following way:
A Capital decreases and liabilities decrease.
B Assets increase and liabilities decrease.
Assets decrease and liabilities decrease.
Assets decrease and capital increases.
13 During the year ended 31 December 2009, Larry Company's assets decreased by $4,000
while its liabilities decreased by $8,000. Its capital would have
A decreased by $12,000
decreased by $4,000
increased by $12,000
D increased by $4,000
14 Which of the following accounts are usually recorded in the debit column of a trial
(i) Purchases
(ii) Drawings
(iii) Commission revenue
(iv) Bank loans
(i) and (ii) only
(i) and (iv) only
(ii) and (iii) only
(ii) and (iv) only
The following is a list of the assets and liabilities of a firm as at 30 September 2015.
Cash in hand
S3 BF HYE (2015-2016)
Total assets as at 30 September 2015 were
Section B: Filling in the blanks.
1 Accounting provides
monetary terms, which is useful for
Managers can make use of the latest accounting information to evaluate how well the
(d) are being implemented and take (e) measures if necessary.
Current assets - Current liabilities
(f) refers to a series of standard procedures for the recording and processing of a
firm's accounting data in a certain
Computers bought by a computer dealer for re-sale should be recorded in the
(k) account.
Purchases journal is a book of (h)
In a trading firm, gross profit/loss is calculated by: Sales (i)
After balancing off accounts, when the debit total is greater than the credit total, the
account shows a (1) balance.
information about an economic
An income statement reports the (m)
The full name for CEPA is
12 Rent received is a kind of
(r) while rent paid is a kind of (s)
13 The amount of unsold goods at the end of an accounting period is called
10 Non-current assets refer to assets that are (0) and have a useful life of
one accounting year.
Inventory owned by the firm
Creditors of the firm
Cash at bank
Motor vehicles owned by the firm
Loan borrowed by the firm
entry to record details of credit purchases.
of a business during an accounting period,
(n) reports the financial position of a business.
S3 BF HYE (2015-2016)
(a) Calculate the firm's total assets as at 31 December 2015.
(b) What is the meaning of assets?
Section C: Short Questions
The following is a list of the assets and liabilities of a firm as at 31 December 2015.
D Lee has the following assets and liabilities: Bank $49,000; Inventory $5,790; Creditor:
John Wu $9,000; Loan from O Yeung $3,240; Delivery Van $56,000; Cash $6,700.
Section D: Double-entry System
Write up the ledger accounts in the books of L Kim's business to record the following
transactions:
(a) Calculate J Lee's capital.
(b) What is the meaning of capital?
Give TWO types of external users of financial statements.
An audited income statement shows a high rate of gross profit but a very low rate of net
profit. Suggest ONE possible problem on this situation and give ONE suggestion to
solve the problem.
1 Started business with $123,000 in the bank.
Bought machinery on credit from Queenie Ltd for $34,000.
Bought a delivery van on credit from ABC Motors for $20,000.
L Kim paid the following accounts by cheque: Queenie Ltd $14,000 and ABC
Motors the total amount owing.
Bought goods of $5,000 from Peter Supplies Co by cheque.
Section E: Financial Statements
Rent and rates
Office furniture
Accounts receivable
Accounts payable
Paul Lau started his business as a stationery wholesaler on 1 April 2014. The following trial
balance was extracted from his ledgers on 31 March 2015:
Capital as at 1 April 2014
Delivery van
Discount received
Sundry expenses
Carriage outwards
Wages and salaries
Motor expenses
2-year bank loan
Inventory as at 31 March 2015 was valued at $1,850.
S3 BF HYE (2015-2016)
Draw up an income statement for the year ended 31 March 2015 and a balance sheet as at that
Section F: Application questions
According to the survey conducted by World Bank and international finance company,
business environment of Hong Kong ranked second amongst 189 economies.
Suppose you are the Managing Director of an IT company in the US and planning to set
up an Asian regional office in Hong Kong. Based on the result of the survey, assess the
pros and cons of your plan. Explain any two for each of them.
Tao Heung Group is a local Chinese restaurant. Branches of restaurants widely cover
Hong Kong and Southern China region. The Group has already set up centralized food
processing centres in Hong Kong and Tao Heung Group now decides to speed up
development and plan to set up a centralized food processing centre in Dongguan [*]
List ONE example of each of the following factors, and explain briefly, which might
affect Tao Heung Group to make the business decision of setting up centralised food
processing centres in China.
(a) Economic factor
(b) Social factor
(c) Legal factor
S3 BF HYE (2015-2016)
*** END OF PAPER ***
Secondary 3
Instructions:
(1) Answer all questions in Sections A - F.
(2) Write all your answers on the answer sheet provided.
Belilios Public School
Half-yearly Examination (2015-2016)
S3 BF HYE (2015-2016) Answer Sheet
Business Fundamentals
ANSWER SHEET
Time allowed:
Maximum marks: 100 marks
Section A: Multiple Choice Questions
Section B: Filling in the blanks.
Section C: Short Questions
S3 BF HYE (2015-2016) Answer Sheet