Hi,
Can anybody help me to create a xslt for the following xml matter.
<orderedlist numeration="arabic">
<listitem>
<para>An insurance policy paid 12 months in advance is treated as an
asset because</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>it is a cost incurred by the business.</para>
</listitem>
<listitem>
<para>the business has a debt to the insurance company.</para>
</listitem>
<listitem>
<para>the policy has a future economic benefit to the business.</para>
</listitem>
<listitem>
<para>the policy is an item of value owned by the business.</para>
</listitem>
<listitem>
<para>it must be reported in the statement of financial
position.</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>Which of the following is a correct application of the accounting
equation?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>A = L - OE + R - E</para>
</listitem>
<listitem>
<para>OE = L - A + R - E</para>
</listitem>
<listitem>
<para>A = L + OE + E - R</para>
</listitem>
<listitem>
<para>OE = A - L + R - E</para>
</listitem>
<listitem>
<para>A = OE - L + R - E</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>Accounting records should be able to be checked against business
documents to
satisfy which qualitative characteristic of accounting?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>comparability</para>
</listitem>
<listitem>
<para>materiality</para>
</listitem>
<listitem>
<para>relevance</para>
</listitem>
<listitem>
<para>reliability</para>
</listitem>
<listitem>
<para>understandability</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>Accounting principles support the qualitative characteristics of
accounting. From
the following list, select the pair that support one another.</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>relevance and historical cost</para>
</listitem>
<listitem>
<para>materiality and entity</para>
</listitem>
<listitem>
<para>reliability and conservatism</para>
</listitem>
<listitem>
<para>reliability and historical cost</para>
</listitem>
<listitem>
<para>materiality and reporting period</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>Historical cost means:</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>the history of a business can be checked with reports from a
number of periods.</para>
</listitem>
<listitem>
<para>the current value of assets can be verified with business
documents.</para>
</listitem>
<listitem>
<para>using the original accounting methods from one period to the
next.</para>
</listitem>
<listitem>
<para>assets are recorded at the price at which they were originally
purchased.</para>
</listitem>
<listitem>
<para>being on the safe side when recording cost prices of
items.</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>A business owes $100 on balance day for advertising completed
during the
period but no adjustment has been made for advertising owing. What
affect does
this have on the firm's accounting equation?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>assets overstated, no effect on liabilities, owner's equity
overstated</para>
</listitem>
<listitem>
<para>assets understated, no effect on liabilities, owner's equity
understated</para>
</listitem>
<listitem>
<para>no effect on assets, liabilities overstated, owner's equity
understated</para>
</listitem>
<listitem>
<para>no effect on assets, liabilities understated, owner's equity
overstated</para>
</listitem>
<listitem>
<para>assets understated, liabilities understated, no effect on
owner's equity</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>A business owner has a debtor who owes him $200. Last weekend the
two of them
met by accident at a weekend football match. The business owner
reminded the
debtor about the debt and he promptly paid the owner the $200, using
cash from
his wallet. The owner kept the cash for himself and did not bank it
into the business
account. What is the affect of this event on the accounting equation of
this business?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>increase assets, no effect on liabilities, increase owner's
equity</para>
</listitem>
<listitem>
<para>increase assets, increase liabilities, no effect on owner's
equity</para>
</listitem>
<listitem>
<para>decrease assets, decrease liabilities, no effect on owner's
equity</para>
</listitem>
<listitem>
<para>decrease assets, no effect on liabilities, decrease owner's
equity</para>
</listitem>
<listitem>
<para>no effect on assets, increase liabilities, decrease owner's
equity</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>A business owner made the following statement: 'Everything must
be recorded
for my business, but not everything has to be reported.' Which
qualitative
characteristic or accounting principle might the owner be thinking of
when
making the above statement?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>understandability</para>
</listitem>
<listitem>
<para>conservatism</para>
</listitem>
<listitem>
<para>reliability</para>
</listitem>
<listitem>
<para>historical cost</para>
</listitem>
<listitem>
<para>materiality</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>A proprietor used the straight-line method of depreciation for
her vehicles in the
first year (Year 1) of business operations. A friend told her that
reducing balance
is the preferred method for vehicles so she changed to this method in
Year 2. This
method was quite confusing for the owner and so she reverted to
straight line in
Year 3. Which qualitative characteristic of accounting may have been
breached
by this business owner?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>comparability</para>
</listitem>
<listitem>
<para>materiality</para>
</listitem>
<listitem>
<para>relevance</para>
</listitem>
<listitem>
<para>reliability</para>
</listitem>
<listitem>
<para>understandability</para>
</listitem>
</orderedlist>
</listitem>
<listitem>
<para>The premises of a business were originally purchased for $200 000
a number of years
ago. However, the property was recently valued at about $300 000. What
qualitative
characteristic demands that the premises be revalued for reporting
purposes?</para>
<orderedlist numeration="upperalpha">
<listitem>
<para>comparability</para>
</listitem>
<listitem>
<para>materiality</para>
</listitem>
<listitem>
<para>relevance</para>
</listitem>
<listitem>
<para>reliability</para>
</listitem>
<listitem>
<para>understandability</para>
</listitem>
</orderedlist>
</listitem>
</orderedlist>
thanks in advance
