A company prepares its financial statements in acc...

第1题

When a company receives customers’ checks by mail:

A．the mailroom sends all customer checks to the treasurer, who has the cashier deposit the checks in the bank．

B．the treasurer prepares the journal entries．

C．the mailroom employee prepares the journal entries．

D．the cashier in the treasury department prepares the journal entries．

第2题

Please choose the best answer for each incomplete sentence. The hostess always prepares corned beef and sometimes an ____________ vegetable.

A.accompanying

B.company

C.accompanied

D.companion

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第3题

A company which prepares its financial statements using IFRS wrote down its inventory

value by €20,000 in 2009.In 2010, prices increased and the same inventory was worth €30,000 more than its value at the end of 2009.Which of the following statements is most accurate？ In 2010, the company’s cost of sales:

A.was unaffected.

B.decreased by €20,000.

C.decreased by €30,000.

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第4题

A company, which prepares its financial statements in accordance with IFRS is in the

process of developing a more efficient production process for one of its primary products.The most appropriate accounting treatment for those costs incurred in the project is to:

A.expense them as incurred.

B.capitalize costs directly related to the development.

C.expense costs until technical feasibility has been established.

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第5题

A company prepares its financial statements in accordance with U.S. GAAP （generally a

A company prepares its financial statements in accordance with U.S. GAAP (generally accepted accounting principles). It expected to be the sole supplier for a state-wide school milk program and had production facilities valued at $28.4 million. Recently several other companies were also granted milk-supply contracts throughout the state and the company now estimates that it will only be able to generate cash flows of $3 million per year for the next 7 years with its facilities. The firm has a cost of capital of 10%.

The impairment loss (in $-millions) on the production facilities will most likely be reported in the company’s financial statements as a:

A. 13.8 reduction in operating cash flows. .

B. 13.8 impairment loss in the income statement

C. 7.4 reduction in the balance sheet carrying amount.

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第6题

When analyzing a company that prepares its financial statements according to U.S. GAA

P, calculating the price/tangible book value ratio instead of the price/book value ratio is mostappropriate if it:

A. grows primarily through acquisitions.

B. develops its patents and processes internally.

C. invests a substantial amount in new capital assets.

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第7题

The reporting currency is

A．the currency in which the parent company prepares its financial statements．

B．any currency other than the parent currency．

C．the currency of the primary economic environment in which the firm operates．

D．the currency in the country where the foreign subsidiary is operating．

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第8题

From the standpoint of the parent company, a foreign currency is

A．the currency in which the foreign subsidiary prepares its financial statements．

B．any currency other than the parent country currency．

C．the currency of the primary economic environment in which the firm operates．

D．the currency in the country where the foreign firm is operating．

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第9题

Due to global oversupply in the micro-chip industry a company wrote down its 2012 inv

entory by €4.0 million from €12.0 million. The following year, due to a change in competitive forces in the industry the market price of these chips rose sharply to 10% above their original 2012 value. If the company prepares its financial statements in accordance with International Financial Reporting Standards (IFRS), its 2013 inventory (in €-millions) will most likely be reported as:

A. 8.0.

B. 12.0.

C. 13.2.

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第10题

Theta prepares its financial statements for the year to 30 April each year. The company pa

ys rent for its premises quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was $84,000 per year until 30 June 20X5. It was increased from that date to $96,000 per year. What rent expense and end of year prepayment should be included in the financial statements for the year ended 30 April 20X6？

A、Expense Prepayment $93,000 $8,000

B、Expense Prepayment $93,000 $16,000

C、Expense Prepayment $94,000 $8,000

D、Expense Prepayment $94,000 $16,000

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第11题

A business prepares its accounts to 31 December 20X7. The trial balance includes $9,000 pa

id for electricity used from I January to 30 September 20X7. Assuming the electricity charge is unchanged in the following period, how much needs to be in the accrual account for the year ended 31 December 20X7？

A、$9,000

B、$3,000

C、$6,000

D、$12,000

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