So how was it? I thought it was very fair. The only question i was unsure about was that MC Question 10.. Apart from that pretty fair paper.
Thoughts on September 2009 I agree. I thought multiple choice was the hardest part. There were 3 questions there which stumped me, the one about the LLP where the partner agrees to take losses for the company, the selling of put options and Q10 like you said. I thought the short questions were realtively straight forward and standard bookworky answers. I would have liked a trial balance queston but the ratios were relatively easy. The 'risk' ratios got me thinking though. I lookied at gearing, liquidity and asset/income coverage. I felt efficiency was irrelevant to the question. Also, it never said what our 'friend' was looking to do with the company (lend debt/buy equity) so I left it a bit open ended. The last question was relatively straight forward. Glad its all over now for another 6 months. Good luck for results all! J
I think so too. I thought the selling the put thingy question (Q3 i think) The answer was 4500 i thought, but this was a bit dodey because if the share price was 0 how could the option be exercised? I agree efficency ratios were irrelevant for last Q, i just looked at liquidity (which was good when u ignore the tax liability), i just did Gearing, and Liquidity for this one, i didnt feel income/asset cover was appropriate since were looking at it from the shareholders point of view, i think they only apply to loan capital security. I also felt a bit short changed learning how to prepare all these statments perfectly and they didnt even put it on there.
