Azonost

jel:

RETTSGI VIZSGA 2017. mjus 17.

KZGAZDASG
ISMERETEK
ANGOL NYELVEN

EMELT SZINT
RSBELI VIZSGA
2017. mjus 17. 8:00

Idtartam: 180 perc

Ptlapok szma
Tisztzati
Piszkozati

EMBERI ERFORRSOK MINISZTRIUMA

Kzgazdasg ismeretek angol nyelven emelt szint rsbeli vizsga 1711

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Important Information

Dear Examinee,

Before starting your examination, we suggest you look through all the questions.

Make sure you read and interpret the questions carefully and accurately.

When solving test and multiple choice questions, consider your answer well. If you mark all
available answers for test questions, no points will be awarded. If you mark more answers than
requested, the number of points awarded overall will be reduced by the number of surplus
answers provided. (The total number of points awarded will not be negative.)

You may correct incorrect answers, however, only clearly marked corrections will be accepted.
In the case of business documents, modifications and corrections will only be accepted if have
made corrections according to applicable rules.

When solving accounting questions, use the attached chart of accounts as needed.

Apply the tax and contribution rates specified.

Make sure you write in a legible manner and provide an easy-to-follow layout for your answers.
Elaborate your solutions in the space provided for this purpose. Make sure your auxiliary
calculations are clear and easy to follow.

Good luck with your examination!

1711 rsbeli vizsga 2 / 20 2017. mjus 17.

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TEST QUESTIONS

A) Multiple-choice or test questions

For Test Questions 1-9, we have provided four possible answers, but only one of these is
correct. The other answers are either partially correct or completely wrong. Select the
letter corresponding to the correct answer and write it into the table found below the
questions.
Attention! Only one answer will be accepted for each question. Unclear markings cannot
be awarded any points. In the case of corrections, only clear and unambiguous answers
may be accepted.

Question 1 (2 points)
If looking at the market of two goods it can be established that when a 5% change in the price
of one of the products occurs, the consumption of the other product also changes by 5% only
in the opposite direction, then the following is true for the two products:
a) the income elasticity of the two products is one unit.
b) the cross-price elasticity of the two products is one and is negative.
c) the two products are each other's substitute products.
d) the price elasticity of the two products is negative.

Letter of the correct

answer:

Question 2 (2 points)
A consumer's total utility is maximal,
a) when the number of consumed products is the highest.
b) when marginal utility equals zero.
c) when marginal utility decreases.
d) Solutions a) and b) are both true.

Letter of the correct

answer:

Question 3 (2 points)
The section of the market supply curve above the point of equilibrium represents excess
producer's supply, which means that
a) additional producers would be able to produce more and sell more products.
b) the quantity in demand exceeds the quantity in supply.
c) there will be oversupply in the market.
d) customers are competing with each other for access to the products.

Letter of the correct

answer:

1711 rsbeli vizsga 3 / 20 2017. mjus 17.

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Question 4 (2 points)
A perfectly competitive company only produces profit in the short-term, if
a) it realises economic profit.
b) its fixed costs are recovered.
c) its variable costs are recovered.
d) it realises ordinary profit.

Letter of the correct

answer:

Question 5 (2 points)
On a perfectly competitive market,
a) there are legal obstacles to market entry.
b) companies determine prices.
c) market players have an effect on the market.
d) market players accept prices.

Letter of the correct

answer:

Question 6 (2 points)
The name of the registered capital of a limited liability company is
a) equity capital.
b) equity contribution.
c) share.
d) shareholders capital.

Letter of the correct

answer:

Question 7 (2 points)
The counter-value payable after an insurance companys assumption of risk is the
a) insurance premium.
b) deductible amount.
c) compulsory insurance.
d) reinsurance.

Letter of the correct

answer:

1711 rsbeli vizsga 4 / 20 2017. mjus 17.

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Question 8 (2 points)
The number that is used to substitute the individual values in an average with the sum thereof
remaining the same is the
a) geometric mean.
b) arithmetic mean.
c) harmonic mean.
d) chronological mean.

Letter of the correct

answer:

Question 9 (2 points)
The root mean square of variance is
a) spread.
b) deviation.
c) relative deviation.
d) mode.

Letter of the correct

answer:

Question 10 (2 points)
From the list below, select the two characteristics that characterise bonds. Mark the
selected items with an X in the empty column provided after the given characteristic.
Unclear markings cannot be awarded any points. In the case of corrections, only clear and
unambiguous answers may be accepted.

Characteristic Selection (X)

The purpose of the issuance of the security is to collect

equity capital
No maturity date is specified
Yields dividends
The buyer of the security obtains ownership rights
The buyer of the security provides credit to the issuer
Typically, it is a security with a fixed yield

1711 rsbeli vizsga 5 / 20 2017. mjus 17.

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B) Short-answer questions

Question 1 (4 points)
Decide whether the below listed statements related to financial concepts are true or false.
Write the appropriate word (true or false) on the dotted line below the statements. In the
case of corrections, only clear and unambiguous answers may be accepted.

1. A direct debit order is used, when the obligor owes amounts to several beneficiaries
under the same legal title.
The statement is: ...............................

2. Deposit money is an at sight receivable of the bank payable by the economic

organisations.
The statement is: ...............................

3. The petty cash limit is the upper limit of the cash amount available in petty cash after
the cash desk is closed for the day until it is opened on the next day.
The statement is: ...............................

4. If the price of a bond is above face value, then simple yield is higher than nominal
yield.
The statement is: ...............................

5. The beneficiary and the contracting party to an insurance policy can be the same
person.
The statement is: ...............................

6. In a two-tier banking system, the central bank is in a direct relationship with economic
organisations.
The statement is: ...............................

7. One of the characteristics of a preference share is that its holder may receive
guaranteed, fixed dividend at the time of dividend payment.
The statement is: ...............................

8. If a bank pays the deposit amount to the holder of the deposit (the person presenting
the deposit) without checking, then the deposit is an at sight deposit.
The statement is: ...............................

1711 rsbeli vizsga 6 / 20 2017. mjus 17.

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Question 2 (4 points)
Determine what type of consequences changes in currency and foreign currency exchange
rates have (assuming other factors remain the same).
Pair up the events marked with numbers with the correct consequences. Write the letter
of the correct consequence in the column next to the given event. Enter only one letter into
a given field. There is one more consequence listed than is required. In the case of
corrections, only clear and unambiguous answers may be accepted.

Events:
1. The national currency of the country depreciates.
2. The price of the foreign currency expressed in the domestic currency increases.
3. The national currency of the country appreciates.
4. The domestic rate of inflation will be lower than the external rate of inflation.

Consequences:
A. Has a decelerating effect on commodities exports, and encourages commodities
imports.
B. The domestic currency appreciates.
C. Encourages commodities exports, and decelerates commodities imports.
D. The domestic currency depreciates.
E. The money market may rate the currency higher than its true value.

1. 2. 3. 4.

1711 rsbeli vizsga 7 / 20 2017. mjus 17.

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Question 3 (3 points)
Change in the number of employees at a company
in the 1st quarter of 2017 (people)

Month Headcount
(people)*
January 110
February 120
March 115
April 122

*Note: headcount data refer to the first day of the month

a) Name the type and origin of the statistical series in the table.

Statistical series: ......................................................................

b) Indicate the method of calculation of the average headcount employed by the company
in the first quarter of 2017 (you do not need to perform the calculation), and provide
the name of the indicator used.

Calculation: ............................................................................

Name of indicator: ..................................................................

Question 4 (3 points)
A company (Kft) decided to purchase a machine to be used for the manufacturing of one of
their new finished products.
The company purchased the machine from its manufacturer on 1 April. The invoiced purchase
price of the machine was HUF 6 000 000 + 27% VAT. The machine was put into operation by
the experts of the selling company, and the total amount on the invoice issued on the
commissioning of the machine was HUF 254 000 inclusive of 27% VAT. The value of the spare
parts received together with the machine was HUF 500 000 + 27% VAT. The insurance
premium payable on the investment is HUF 10 000/month, which the company has been
transferring to the insurance company since the date of purchase. The interest payable on the
loan taken out for the investment is HUF 50 000 in the current year, of which HUF 15 000 can
be offset until the capitalisation of the machine. In the interest of continuous and uninterrupted
operation, regular maintenance cost is HUF 30 000/month.
The company (Kft) financed the purchasing of the machine partly from profit earned in the
previous year and partly from credit.
The machine was put into operation on 1 June. The planned useful life of the machine is 8 years,
residual value: HUF 500 000, and the write-off equals the cost ratio every year.
According to the accounting policy of the company, tangible assets present on the first day of
the quarter are depreciated on the last day of the quarter.

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a) Characterise the investment according to the following aspects. Write the solution on
the dotted line.
According to the contractor: investment ............................................................
According to financing: investment ...................................................................
According to the type of investment: ................................................................. investment
Depreciation plan: .................................................

b) From the possible answers below, indicate which one would be used to calculate the
historical value of the machine, and write the corresponding letter on the dotted line.
Possible answers:
A. HUF 6 000 000 + HUF 254 000 + HUF 500 000 + 2 x HUF 10 000 + HUF 15 000
B. HUF 6 000 000 + HUF 254 000 / 1.27 + 3 x HUF 10 000 + HUF 15 000
C. HUF 6 000 000 + HUF 254 000 / 1.27 + 2 x HUF 10 000 + HUF 15 000
D. HUF 6 000 000 + HUF 254 000 / 1.27 + 2 x HUF 10 000 + HUF 15 000 + 2 x HUF
30 000
E. HUF 6 000 000 + HUF 254 000 / 1.27 + HUF 500 000 + 2 x HUF 10 000 + HUF
15 000

Method of calculating the historical cost of the production machine:

Question 5 (3 points)
Complete the following table. Put the name of the appropriate taxation-related concept
on the dotted line next to the definition provided.

Term Definition
The totality of tax types applied at the same time, and the
... institutional system engaged in tax administration.
Can be a percentage value or a specific tax.

May extend up to the tax amount. The waiving of certain parts of

the tax.

1711 rsbeli vizsga 9 / 20 2017. mjus 17.

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Question 6 (3 points)
Make the following statements on income categories correct by placing the phrases
INCREASES, DECREASES or REMAINS UNCHANGED in the various sentences.
Write the solution corresponding to the given change on the dotted line. Apart from the
changes, all other conditions are assumed unchanged.

a) If gross investment in a country increases, then the countrys GDP:

.........................
b) If factor income inflow in a country increases, then the countrys GDP:
.........................
c) If a country increases the amount of outgoing foreign aid, the gross national disposable
income of the country:
.........................

1711 rsbeli vizsga 10 / 20 2017. mjus 17.

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QUESTIONS INVOLVING BUSINESS CALCULATIONS AND THE EDITING OF

ACCOUNTING ITEMS

Question 1 (13 points)

The table below contains the different costs associated with the different production scales
of a perfectly competitive company.

Production
TC VC FC AC AVC MC
quantity
(HUF (HUF (HUF (HUF (HUF (HUF
(thousand
thousand) thousand) thousand) thousand) thousand) thousand)
pieces)
5 35 7
10 120
20 540
25 675
30 1060
40 1680 100
50 2700

a) Complete the empty fields of the table. Calculate the missing amounts. Calculate the
values to two decimal places.
Show the following formulas.
AC = ..............................................
AVC = ..............................................
MC = ..............................................

b) Using the completed table, answer the following questions.

1. At what quantity does the company reach the break-even point?

2. Determine the price with which the company would be loss-making in the short
term. Explain your answer.

3. Lets assume that market price is HUF 47 000. In this case, what is the profit of the
profit maximising company?

1711 rsbeli vizsga 11 / 20 2017. mjus 17.

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Question 2 (12 points)

The table below shows the changes of the production value and headcount data of a
company in the 1st and 2nd quarters of 2016:
Name 1st quarter 2nd quarter Change (%)
Production value (HUF thousand) 472 500
Average headcount of manual workers (people) 90 ....
Average headcount of non-manual workers
(people) ....
Average headcount of workers in total (people) 130 ....
Production value per 1 manual worker (HUF
5 250
thousand/person) ....
Production value per 1 employee (HUF
4 070.8
thousand/person) ....
Ratio of manual workers at the company (%) 75

Supplementary information:
The production value of the company increased by 12% from the 1st to the 2nd
quarter.
Production value per 1 manual worker increased by HUF 42 thousand/person in the
period under review.
The headcount of non-manual workers did not change in the period examined.

a) Complete the above table. Complete the appropriate dotted cells in the table with the
missing values. Show auxiliary calculations. Calculate the values to one decimal place.
Auxiliary calculations:

b) Name the statistical indicators you calculated in the last column of the table.
Name of indicator: ...................................................................

c) Name the type of statistical indicator the production value per manual worker is.
Name of indicator: ..................................................................

1711 rsbeli vizsga 12 / 20 2017. mjus 17.

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Question 3 (10 points)

A private individual has taken out a personal loan to purchase goods in an amount of HUF
600 000 from their account holding credit institution. The loan was disbursed in a lump
sum. The debt will have to be repaid over 3 years, in equally sized principal repayments.
The interest rate applied by the bank is 12%/year, which will not change during the term
of the loan. Based on the loan agreement, the first repayment becomes due 1 year after
the loan was granted. The bank charged the customer a 1% handling fee, which is based
on the loan amount.

a) Prepare the repayment schedule of the loan. Mark auxiliary calculations. Use the
following table to prepare the loan repayment schedule.

Outstanding debt
Principal
Year Interest due Debt service at the end of the
repayment
period
1.
2.
3.
Total

Auxiliary calculations:

b) Calculate the loan cost. Show auxiliary calculations.

Loan cost: HUF ................................

Auxiliary calculations:

1711 rsbeli vizsga 13 / 20 2017. mjus 17.

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Question 4 (13 points)

Our company, DI KFT (address: 1016 Budapest, Difa utca 12; payment account number:
11720245-06765054; tax number: 42410125-2-41; Managing Director: Ivn Dis;
Salesperson: Grta Kis; Warehouse Clerk: Jnos Nagy) is engaged in production activities.
The following is known of the economic events in April 2017:

1. On 3 April, the company purchased 500 kg of raw material from Gesztenye Kft (address:
8808 Nagykanizsa, Gesztenys utca 10; tax number: 213540135-2-41; payment account
number: 11604254-211056002-10080016) at a gross purchase unit price of HUF 5 080/kg
(VAT rate: 27%). Serial number of the invoice received: AF 02456. Payment method: bank
transfer; payment deadline: 21 April.
2. In the interest of the modernisation of production, the company purchased a production
machine on 11 April from Gpest Kft (address: 1173 Budapest, Kiss utca 4; tax number:
32622451-2-41; payment account number: 11502345-03624125). Amount indicated on the
invoice received: HUF 3 000 000 + 27% VAT. Invoice serial number CC 5689; payment
deadline: 30 April.
3. The machine was delivered to the company's business site by Fuvaros Kft (address: 1213
Budapest, z utca 4; tax number: 61756389-2-41; payment account number: 11707038-
04567899) on 11 April; serial number of the cash invoice received: PT 12345, total invoiced
amount: HUF 152 400 (VAT content: 21.26%).
4. The machine was put into operation (based on commissioning records) on 12 April.
5. On 24 April, 2 000 units of the finished product DD were sold to ALMA Nyrt (address:
1214 Budapest, Almafa utca 3; tax number: 22521856-2-41; payment account number:
11603462-02734625-03890082). The amount of the invoiced trade receivables: HUF 12
700 000 (VAT rate: 27%). Cost price of the finished product DD: HUF 3 800/unit. Invoice
serial number: 63541; payment method: bank transfer; payment deadline: 17 May.
6. On 28 April, ALMA Nyrt requested a 10% discount, due to the sales quality issues
experienced on 24 April. Our company decided that the quality complaint was justified and
gave the customer a 10% discount. A corrective invoice was prepared on the changes.

Please read the above information carefully and answer the questions below.

a) In light of the above economic events, answer the following questions. Show the
necessary auxiliary calculations.
1. External business documents received at the time of the purchasing of the raw
material:

Name of business document: ........................................................

Serial number: ...................................................
Name of the issuer of the business document: .............................
Total amount as featured on the business document: ....................
VAT amount as featured on the business document: ....................
Date of issue of the business document: .......................................

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Auxiliary calculations:

2. Warehouse document on the reduction in inventory:

Name of business document: ........................................................

Amount on the business document: .............................................

Auxiliary calculations:

b) Prepare the simplified value added tax accounting of DI Kft for the month of April.
Underline the term that refers to the type of tax to be settled.

VAT RETURN
Payable tax .......................................
Deductible tax .......................................
Accountable tax ....................................... (payable/refundable)

Auxiliary calculations:
(In the course the calculations, round up the value of the VAT to HUF 100, if necessary.)

1711 rsbeli vizsga 15 / 20 2017. mjus 17.

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Question 5 (12 points)

Book the economic events of DI Kft in the month of April described in Question 4
repeated below chronologically. Specify the accounting entries using the account
numbers included the attached chart of accounts.
In the course of the booking of the economic events, please take into consideration the
amounts already calculated for Question 4 including the amounts in the auxiliary
calculations. In this exercise, only include the auxiliary calculations that you have not
provided in your answer to Question 4.

1. On 3 April, the company purchased 500 kg of raw material from Gesztenye Kft at a gross
purchase unit price of HUF 5 080/kg (VAT rate: 27%).
2. In the interest of the modernisation of production, the company purchased a production
machine on 11 April from Gpest Kft. Amount indicated on the invoice received: HUF 3
000 000 + 27% VAT.
3. The machine was delivered to the company's business site by Fuvaros Kft on 11 April; total
invoiced amount: HUF 152 400 (VAT content: 21.26%).
4. The machine was put into operation (based on commissioning records) on 12 April.
5. On 24 April, 2 000 units of the finished product DD were sold to ALMA Nyrt. Amount of
invoiced trade receivables: HUF 12 700 000 (VAT rate: 27%). Cost price of the finished
product DD: HUF 3 800/unit.
6. On 28 April, ALMA Nyrt requested a 10% discount, due to the sales quality issues
experienced on 24 April. Our company decided that the quality complaint was justified and
gave the customer a 10% discount. A corrective invoice was prepared on the changes.

Auxiliary calculations:

1711 rsbeli vizsga 16 / 20 2017. mjus 17.

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Mixed journal April 2017

Dated Number and Number and Text Total Total
name of name of amount amount
accounts accounts payable receivable
payable receivable

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Chart of Accounts

1. Fixed assets
11. Intangible assets
12. Real properties
123. Buildings
129. Ordinary depreciation of real properties
13. Technical machinery, equipment, vehicles
131. Production machines, machinery
139. Ordinary depreciation of technical machinery, equipment, vehicles
14. Other machinery, equipment, vehicles
149. Ordinary depreciation of other machinery, equipment, vehicles
16. Investments, renovations
161. Capital investments in progress
17. Investments in the equity securities (shares)
18. Debt securities
19. Long-term loans
2. Stocks
21. Materials
211. Raw materials
22. Other materials
23. Work-in-process and finished goods
25. Finished goods
3. Receivables, financial and liquid assets, prepayments and accrued income
31. Receivables from goods and service rendered to customers
32. Receivables from affiliated companies and companies linked by virtue of major
participating interest
33. Receivables from companies linked by virtue of other participating interest
34. Claims arising from bills of exchange
361. Receivables from employees
37. Securities
38. Liquid assets
381. Cash on hand
384. Deposit account for settling of accounts
385. Special deposit accounts
389. Transit account
4. Liabilities
41. Equity
411. Registered capital
412. Capital reserve
413. Accumulated profit reserve
419. Profit after taxes
42. Provisions
43. Deferred liabilities
44. Long-term liabilities
444. Investment and development loans
45-47. Short-term liabilities
451. Short term credits
452. Short term loans and credits

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454. Trade creditors

455. Investment contractors
461. Settlement of corporate tax
462. Settlement of personal income tax
463. Budgetary payment liabilities
464. Fulfilment of budgetary payment liabilities
466. Pre-charged value-added tax
467. Value-added tax payable
468. Financial settlement of value-added tax
469. Offset account of local taxes
471. Income settlement account
472. Non-drawn emoluments
473. Social security liabilities
49. Settlement accounts
491. Opening balance-sheet account
492. Closing balance-sheet account
493. Account for the accounting of after-tax profit
5. Cost types
51. Material costs
52. Cost of services used
53. Cost of other services used
54. Payroll costs
55. Other personnel costs
56. Withholding taxes and contributions
57. Depreciation
571. Ordinary depreciation
581. Change in self-manufactured stocks
582. Own work capitalised
8. Recognised original cost of sales, and expenditures
81. Material-type costs
82. Personnel costs
83. Depreciation
86. Other expenditures
87. Expenses of financial transactions
9. Sales revenue and revenues
91-92. Domestic sales revenues
96. Other revenues
97. Income from financial transactions

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Question Points
number Maximum Scored Maximum Scored
1. 2
2. 2
3. 2
A)
4. 2
Multiple-
5. 2
choice or
6. 2
test
7. 2
questions
Test 8. 2
40
Questions 9. 2
10. 2
1. 4
B) 2. 4
Short- 3. 3
answer 4. 3
questions 5. 3
6. 3
Questions involving 1. 13
business calculations and 2. 12
the editing of accounting 3. 10 60
items 4. 13
5. 12
Points scored in written examination 100

Date Correcting teacher

__________________________________________________________________________

pontszma egsz
szmra kerektve
programba
elrt
bert
Vlasztst, rvid, egyszer vlaszt ignyl feladatok
zleti szmts, knyvviteli ttel-szerkesztst ignyl feladatok

dtum dtum

javt tanr jegyz

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