A decision has been made to change the value of a major non-current asset, upon which depreciation is based, from original cost to a revalued amount. This results in a change in
A. accounting estimate and must be disclosed.
B. measurement basis and must be disclosed.
C. accounting estimate and does not need to be disclosed.
D. measurement basis and does not need to be disclosed.
正解:B
質問 2:
A company purchased a machine 10 years ago for $143 890. It is expected that the machine will generate future revenues of $108 495. The machine could be scrapped for $81 232. An equivalent machine in the same condition would cost $94 950 to buy now. What is the deprival value of the asset?
A. $81 232
B. $94 950
C. $108 495
D. $35 395
正解:B
質問 3:
Which one of these concepts suggests that stock prices react to new information almost instantly?
A. incentive substitution
B. bargaining power
C. market power
D. efficient market
正解:D
質問 4:
Which one of the following statements is correct in relation to presenting the financial position of an entity?
A. Solvency is the availability of cash over the long-term, while liquidity is the availability of funds over the short-term to meet financial commitments as they fall due.
B. Solvency is the availability of total assets over a long-term, while liquidity is the availability of total assets over the short-term to meet financial commitments as they fall due.
.
C. Liquidity represents cash holdings, while solvency is long-term profitability.
D. Liquidity is the ability to repay long-term financial commitments, whereas solvency is the ability to repay short-term commitments.
正解:A
質問 5:
Which one of the following practices is not considered creative accounting?
A. aggressive earnings management
B. profit smoothing
C. window dressing
D. trading in derivatives
正解:D
質問 6:
The use of the principle of substance over form is found in which one of the following accounting treatments?
A. accounting for non-current assets
B. accounting for property, plant and equipment
C. accounting for inventories
D. accounting for finance leases
正解:D
質問 7:
To be relevant, financial information has to
I)be provided in a timely manner.
II)comply with the going concern assumption.
III)have predictive and/or confirmatory value.
IV)exclude computations that are difficult to understand.
A. II and III only
B. I and III only
C. I and II only
D. III and IV only
正解:B
質問 8:
Which one of these is a disadvantage of a conceptual framework?
A. A single framework is not suitable for all users of financial statements.
B. It increases the chances of political interference in the development of accounting standards.
C. It mandates the formats of various financial statements.
D. It replaces the established principles.
正解:A
藤原** -
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