1.0  If output VAT exceed input VAT, the difference can be reclaimed from Custom and Excise. True or false?

2.0  What are the two rates of VAT which may be applicable to taxable outputs?

3.0  Give two examples of expenditure on which input VAT is not recoverable

4.0  A business purchased goods valued at $400. VAT is charged at 15%. What is the double entry to record the purchase? 

1.0    List three factors which might help to create goodwill in a business

2.0    Why is it unusual to record goodwill as an asset in the accounts?

3.0    What is purchased goodwill?

4.0    What two methods of accounting for purchased goodwill are permitted by Accounting Standards

5.0    What is the required accounting treatment for expenditure on research

6.0    In what circumstances may development expenditure be capitalized?