A business entity raised N$250 000 from a share issue in August 2024, part of which was used to repay borrowings of N$150 000.

The net cash flow from financing activities for the year ended 31 October 2024 is?

(Choose one correct option only)

In the financial year ended 31 December 2024, a business entity paid N$200 000 to acquire new long term investments and sold plant and equipment for N$20 000. At the time of sale, the plant and equipment sold had a carrying amount of N$15 000 and there was a profit on disposal of N$5 000.

The net cash flow from investing activities for the year ended 31 December 2024 is?

(Select one correct option only)

A change from using the straight-line method to the reducing balance method when calculating depreciation on property, plant and equipment is considered to be: 

(Choose one correct option only)

The opening balance on inventory is N$200,000 and the closing balance is N$220,000. Cost of sales for the period is N$700,000.

The opening balance on accounts payable is N$40,000 and the closing balance is N$20,000.

The cash paid to suppliers on a direct method statement of cash flows is

(Choose one correct option only)

A change from using the weighted average method to the first-in-first-out method of measuring inventory movements is considered to be: 

(Choose one correct option only)

The opening balance on accounts receivable is N$100,000 and the closing balance is N$120,000. Sales for the period are N$200,000 and there was a bad debts expense of N$10,000 during the year.

The cash received from customers on a direct method statement of cash flows amounts to:

(Choose one correct option only)

When preparing a statement of cash flows using the indirect method, and calculating the cash flow from operating activities, which of the following are deducted from profit?

1. Loss on disposal of non-current assets

2. Profit on disposal of non-current assets

3. Depreciation of non-current assets

4. Increase in accounts receivable

(Select one correct option only)

An omission or misstatement is considered to be material if it, individually, could affect the economic decisions made by the users of the financial statements. 

(Indicate whether the above statement is true or false)

A change in a measurement basis is accounted for as a change in estimate.  

(Indicate whether the above statement is true or false)

Entities are entitled to change any accounting policy, on condition the change is either required by an IFRS or is a voluntary change that results in information that is relevant and more reliable.  

(Indicate whether the above statement is true or false)