第1題WhoissuesChineseaccountingstandards?AMinistryofFinanceB

IASBCFASBDSEC第2題Accountingstandardsarethebasicprinciplesthataccountantsmustfollowwhentheyareengagedinaccountingwork.第3題Onceaccountingstandardsareformulated,theywillnotbechanged.第4題Accountingstandardsshouldbeformulatedbygovernment.第5題Ifthecapitalallocationismainlyindirectfinance,financialinstitutionscanobtainmoreinformationthanotherpeople.第6題Whatfactorswillaffecttheformulationofaccountingstandards?ALawB

PoliticsCCultureDEconomy正確答案：ABCD第1題In1990,theMinistryofFinanceissuedNo.1AccountingStandardsforBusinessEnterprises.第2題TheprocessofChinaaccountingstandardsfromexplorationtoconvergenceisalsoaprocessofcontinuousreformandopenoftheChina’seconomy.第3題Thereare4assumptionsinIFRS,includingbusinessentity,going-concern,timeperiodandmonetaryunit.第4題Theaccountingentitycanbeeitheronecompanyorbusinessgrouporganizedbyseveralcompanies.第5題

Thefundamentalqualitativecharacteristicsofaccountinginformationarefaithfulrepresentationandunderstandability.Unit3Test第1題

TheaccountingtreatmentofinventoriesarequitesimilarunderCAS1andIAS2.Bothstandardsaccountforinventoryacquisitionsathistoricalcostandevaluateinventoryforfairvaluesubsequenttoacquisition.Trueorfalse?第2題Theterm‘netrealizablevalue’(NRV)referstothenetamountthatacompanyexpectstorealizefromthesaleofinventory.Trueorfalse?第3題UnderCAS1,acompanyshouldabandonthehistoricalcostprinciplewhenthefutureutilityoftheinventoryitemfallsbelowitsoriginalcost.Trueorfalse?第4題UnderCAS1,ifinventoryiswrittendownunderthelower-of-cost-or-NRVvaluation,thenewbasisisnowconsidereditscost.Asaresult,theinventorymaynotbewrittenbackuptoitsoriginalcostinasubsequentperiod.Trueorfalse?第5題Bothmerchandisingandmanufacturingcompaniesnormallyhavemultipleinventoryaccounts.Trueorfalse?第6題Whichofthefollowingisaproductcostasitrelatestoinventory?ASellingcosts.BInterestcosts.CRawmaterials.DAbnormalspoilage.第7題Allthefollowingcostswhichwouldnotbeincludedincostofinventories,exceptforAabnormalwasteofdirectmaterialsBabnormalwasteofdirectmaterialsCsellingcostsDproductcosts第8題Whichofthefollowinginventoriescarriedbyamanufacturerissimilartothemerchandiseinventoryofaretailer?ARawmaterials.BWork-in-process.CFinishedgoods.DSupplies.第9題CAS1excludescertaininventoriesfromitsscopesuchas:AWork-in-processheldbyamanufacturerBWorkinprocessarisingunderconstructioncontractsCGoodsthathavebeensegregatedforshipmenttoacustomerDUnsoldunitsleftonhandinamerchandisingcompany第10題UnderCSA1,allofthefollowingcostflowassumptionscouldbeappliedexceptforAmoving-average.Bweighted-average.CFIFO.DLIFO.第11題

Investmentpropertiesmaygeneratecashflowslargelyindependentlyofotherassetswhichtheentityholds.Trueorfalse?第12題UnderCAS3,investmentpropertyrefertoland-userightthathavebeenleasedorland-userightheldforsaleratherthanland.Trueorfalse?第13題

CAS3allowstheentitytoselectcostmodelorfairvaluemodelforsubsequentmeasurementfreely.Trueorfalse?第14題

Ifthereisconclusiveevidencethatthefairvalueofaninvestmentpropertycanbeobtainedcontinuouslyandreliably,afairvaluemodelcouldbechosen.Trueorfalse?第15題Ifthefairvaluemodelisadopted,investmentpropertyshallnotbedepreciatedoramortized.Trueorfalse?第16題Investmentpropertyshouldberecognizedasanassetwhenitisprobablethatthefutureeconomicbenefitsthatareassociatedwiththepropertywillflowtotheentity,andthecostofthepropertycanbereliablymeasured.第17題Investmentpropertyisinitiallymeasuredatcost.Suchcostshouldnotincludestart-upcosts,abnormalwaste,orinitialoperatinglossesincurredbeforetheinvestmentpropertyachievestheplannedlevelofoccupancy.第18題Whereapropertyhaspreviouslybeenmeasuredatfairvalue,itshouldcontinuetobemeasuredatfairvalueuntildisposal.第19題Whichofthefollowingcouldbeclassifiedasaninvestmentproperty?AAbuildingheldforself-useBAbuildingconstructedonbehalfofthirdpartiesCAbuildinghavealreadybeenrentedDAbuildingheldasinventory第20題Thereportingentityshould,inthenotes,disclosethefollowinginformationrelatedtoinvestmentproperty:AthedepreciationoramortizationofinvestmentpropertyundercostmodelBtheeffectonprofitandlossfromthechangeinfairvalueunderfairvaluemodelCtheclassificationsofinvestmentpropertyDAllofabove第21題UnderbothCASandIFRS,companiesshouldreviewfixedassetsforindicatorsofimpairmentsonanannualbasis.Trueorfalse?第22題UnderCAS4,companiescanuseeitherthehistoricalcostmodelortherevaluationmodel.Trueorfalse?第23題Depreciationisthesystematicallocationofthedepreciableamountofanassetovertheasset'susefullife.Trueorfalse?第24題Assetsclassifiedasproperty,plant,andequipmentcanbeeitheracquiredforuseinoperations,oracquiredforresale.Trueorfalse?第25題Costssubsequenttoacquisitionofproperty,plant,andequipmentshouldbecapitalizedwhentheyincurredtoachievegreaterfuturebenefits.第26題Foramanufacturer,fixedassetsmayinclude:AbuildingstructuresusedasofficesandfactoriesBequipmentsCmachineryDsupplies正確答案：ABC第27題Forincomestatementpurposes,whichcoulddepreciationmethodbeusedunderCAS4?Aunits-of-production.Bstraight-line.Csum-of-the-years'-digits.Ddeclining-balance.正確答案：ABCD第28題Whichofthefollowingisnotamajorcharacteristicofaplantasset?APossessesphysicalsubstanceBAcquiredforresaleCAcquiredforuseDYieldsservicesoveranumberofyears第29題Historicalcostisthebasisadvocatedforrecordingtheacquisitionofproperty,plant,andequipmentforallofthefollowingreasonsexceptAatthedateofacquisition,costreflectsfairvalue.Bproperty,plant,andequipmentitemsarealwaysacquiredattheiroriginalhistoricalcost.Chistoricalcostinvolvesactualtransactionsand,assuch,isthemostreliablebasis.Dgainsandlossesshouldnotbeanticipatedbutshouldberecognizedwhentheassetissold.第30題WhichofthefollowingisNOToneofthebasicquestionsthatmustbeansweredbeforetheamountofdepreciationchargecanbecomputed?AWhatisthedepreciationbasetousefortheasset?BWhatistheasset'susefullife?CWhatmethodofcostapportionmentisbestforthisasset?DWhatproductorserviceistheassetrelatedto?Unit4Test第1題Short-termbenefitsincludeallofthefollowingexcept:AterminationbenefitsBwages,salariesandsocialsecuritycontributionsCprofit-sharingandbonusesDpaidannualleaveandpaidsickleave第2題QP'staxcomputationshowstaxdueof$290,000ontaxableprofitsfortheyearended30June20X4.Thetaxdueispayableinfourequalinstalments,twobeforetheyearendof30June20X4andtwoaftertheyearend.Asat30June20X4,QPhaspaidthefirsttwoinstalments.WhatshouldQPrecogniseinitsstatementoffinancialpositionasat30June20X4inrelationtocurrenttax?AAcurrenttaxassetof$290,000

BAcurrenttaxliabilityof$290,000CAcurrenttaxassetof$145,000

DAcurrenttaxliabilityof$145,000

第3題?At31December20X0,FBrecognisedacurrenttaxliabilityof50,000.Thiswassettledinfullon1October20X1for59,000.WhatistheaccountingentryrequiredbyFBon1October20X1?

ADrCurrenttaxexpense59,000;CrCash59,000B

DrCash59,000;CrCurrenttaxliability50,000,CrProfitorloss$9,000CDrCash59,000;CrCurrenttaxexpense59,000

D

DrCurrenttaxliability50,000,DrProfitorloss9,000;CrCash$59,000

第4題WhichoneofthefollowingisNOTanadvantageofhistoricalcostaccounting?AItavoidstheoverstatementofprofitwhichcanariseduringperiodsofinflation.BAmountsoftransactionsarereliableandcanbeverified.CAmountsinthestatementoffinancialpositioncanbematchedtoamountsinthestatementofcashflows.DItprovidesfeweropportunitiesforcreativeaccountingthansystemsofcurrentvalueaccounting.第5題Thepricethatwouldbereceivedtosellanassetorpaidtotransferaliability,inanorderlytransactionbetweenmarketparticipantsatthemeasurementdate.'Thisisadefinitionofwhichmeasurementbasis?AFairvalueB

ValueinuseCCurrentcostDHistoricalcost第6題?Whichofthefollowingarethecategoriesofemployeebenefits?ATerminationbenefitsBOtherlong-termemployeebenefitsCShorttermbenefitsDPost-employmentbenefits正確答案：ABCD第7題?CAS14specifiestherequirementfortherecognitionandmeasurementofrevenueanddisclosureofrelatedinformation.第8題Aweaknessofthehistoricalcostmodelisthatitdoesnotaccountforchangesinthepurchasingpowerofthecurrencythatisusedinthefinancialstatements.第9題Taxationpayablesorreceivablesinthefuturebasedon(

____)existedatreportingdate.正確答案：:temporarydifferences第10題Post-employmentbenefitscanbeoftwotypes:definedcontributionplanand(

____

).正確答案：:definedbenefitplanUnit5Test第1題Onwhichofthefollowingdates,thebusinessusuallymakenoaccountingtreatment?AexercisedateBgrantdateCeachofreportingdateduringthevestingperiodDvestingdate第2題BCNgrants1,000shareoptionstoitsstaffprovidedtheycontinuetoworkforBCNfortwoyearsfromthegrantdate.Theoptionsmaybeexercisedintwoyears'timeatanoptionpriceof6.10.Thecurrentfairvalueoftheoptionis1.40andtheexpectedfairvalueintwoyears'timeis$2.40(adjustedforthepossibilityofforfeitureinbothcases).??UnderCAS11Share-basedPayment,howmuchexpensewouldberecognisedinprofitorlossatthedatetheoptionsaregrantedtoemployees?A$1,200BNoneC$1,400D$700第3題WhichoneisnotatypeofbiologicalassetaccordingtoCAS5?ABearerbiologicalassetsBDisposalbiologicalassetsCCommonwealbiologicalassetsDConsumablebiologicalassets第4題CompanyAmadeadecisionthatitisveryhardtocollecttheaccountsreceivableof2,400,000owedbycompanyBbecausecompanyBfallintofinancialdistress.Afternegotiation,companyBdecidedtosettlethedebtbypayingcashof1,800,000.CompanyAhascharged$1,000,000ofallowanceforbaddebtonthisaccountsreceivable.WhatistheamountoflossrecognizedbycompanyAonthisdebtrestructuring?A400,000B600,000C-400,000D0第5題?Ifthedebtrestructuringistobecarriedoutwithacombinationofpayingcash,transferringnon-cashassetsandrevisingthetermsofdebt,whatissequencefortreatments?APayingcash,revisingtermsofdebt,transferringnon-cashassetsBPayingcash,transferringnon-cashassets,revisingtermsofdebtCRevisingtermsofdebts,payingcash,transferringnon-cashassetsDTransferringnon-cashassets,payingcash,revisingtermsofdebt第6題?whichtwoofthefollowingaccountingtreatmentsregardingdebtrestructuringiscorrect?Afordebtor,thedifferencebetweenthecarryingvalueofdebtandsumofrecordedamountofequityinstrumentsandrestructurednewdebtshouldberecordedintoprofitorlossBifthedebtistobesettledbyplantassets,thedebtorshouldrecognizegainondebtrestructuringandgainorlossonassetsdisposalaswellCifthedebtistobesettledbythedeliveringinventories,thedebtorshouldrecordsalesrevenueandcostofgoodssoldDifthedebtistobeconvertedintoequityinstruments,thedebtorshouldrecognizetheequityinstrumentatfairvalue正確答案：AD第7題?Whichtwoapproachesapplyforthesubsequentmeasurementofbiologicalassets?AFairvaluemodelBNRVmodelCCostmodelDEquitymethod正確答案：AC第8題Onceanassetimpairmentlossisrecognized,itcannotbereversedinasubsequentaccountingperiod.第9題Theconceptionofsharebasedpaymentisbroaderthanemployeeshareoptions.第10題?Assetimpairmentreferstotheasset’srecoverablevalueis(

____

)thanitsbookvalue.正確答案：:lower第11題?Thereare_______(2/3)possiblemeasurementofexchangesofnon-monetaryassets--fairvalueorcarryingvalue

underCAS7.正確答案：:2Unit6Test第1題Whichoneofthefollowingstatementsaboutthepresentationcurrencyaretrue?AItisalwaysthesameastheentity’sfunctionalcurrencyBItisthecurrencyoftheentity’sprimaryeconomicenvironmentCItisthecurrencyoftheentity’syear-endfinancialstatementsDItisthecurrencythatmainlyinfluencestheentity’ssalesprices第2題?ThefunctionalcurrencyofNMistheA.On1November20X2,NMsoldgoodstoanoverseascustomerforB110,000whentheexchangeratewasA:B10.Attheyearendof31December20X2,thefullbalancewasstilloutstandingandtheexchangeratehadmovedtoA:B11.??WhichofthefollowingiscorrectinrespectoftheexchangedifferenceonthetradereceivableinthefinancialstatementsofNMfortheyearended31December20X2?ARecognizeanexchangelossofA$1,000inothercomprehensiveincome.BRecognizeanexchangegainofA$1,000inothercomprehensiveincomeCRecognizeanexchangelossofA$1,000inprofitorlossDRecognizeanexchangegainofA$1,000inprofitorloss第3題?ThefunctionalcurrencyofcompanyAisRMB.OnDecember12,20x9,companyAacquired500,000ofordinarysharesofcompanyBoperatedintheUSAfor7,500,000astradingsecurities.ThespotrateonDec.12,20X9is1toRMB6.8.OnDec.31,20X9,themarketpriceofcompanyB’sshareis18andtheexchangerateis1toRMB6.6.??WhatistheeffectonprofitorlossforDecember20X9?ARMB8,400,000BRMB1,800,000CRMB1,500,000DRMB0第4題?Governmentsubsidieshavethefollowingcharacteristics:AEconomicresourcesformthecustomerBNeedtodeliverconsiderationforgoodsorservicestothegovernment.CGratuitous,noneedtodeliverconsiderationforgoodsorservicestothegovernment.DEconomicresourcesformthegovernment正確答案：CD第5題WhichTHREEofthefollowingforeigncurrencybalanceswouldberetranslatedattheclosingrateattheyearend?ACashBNotespayableCProperty,plantandequipment(heldunderthecostmodel)DTradepayable正確答案：ABD第6題?Enterpriseshouldrecognizecontingentliabilitiesandcontingentassets.第7題?Onlyborrowingcoststhataredirectlyattributableto(theacquisition,constructionorproduction)ofaqualifyingassetcanbecapitalizedaspartofthecostofthatasset.第8題Governmentsubsidiesaredividedintoasset-relatedandcash-related.第9題?Theleasetermreferstotheperiodduringwhichtheleasehastherighttousetheleasedassetsandisirrevocable.第10題Thelessorshoulddividetheleaseintofinancingleaseand(

____

)leaseontheleasestartdate.正確答案：:operatingUnit7Test第1題

PZGpurchaseda2%holdinginequitysharesinalistedcompany,FJK.PZG’sintentionistoholdthisinvestmentforthelongterm.??HowshouldthisfinancialassetbeinitiallyclassifiedandsubsequentlymeasuredinaccordancewithIAS39Financialinstruments:recognitionandmeasurement?

AAvailableforsale;fairvaluewithgainsorlossesinothercomprehensiveincomeBHeldtomaturity,amortisedcostCHeldfortrading;fairvaluethroughprofitorlossDAvailableforsale;fairvaluethroughprofitorloss第2題GZPpurchasedasmallholdinginsharesinalistedcompany,ANG.GZP’sintentionistorealizethisinvestmentwithinafewmonthswhenseasonalfluctuationsinitsbusinessmakeacashshortfallprobable.?HowshouldthisfinancialassetbeinitiallyclassifiedandsubsequentlymeasuredinaccordancewithIAS39Financialinstruments:recognitionandmeasurement?

AHeldfortrading;fairvaluethroughprofitorlossBHeldfortrading;fairvaluewithgainsorlossesinothercomprehensiveincomeCAvailableforsale;fairvaluethroughprofitorlossDAvailableforsale;fairvaluewithgainsorlossesinothercomprehensiveincome第3題Describetheappropriateaccountingtreatment,asrequiredbyCAS22Financialinstruments:recognitionandmeasurement,forgainsandlossesonfinancialassetsclassifiedas‘heldfortrading’.

ATheseassetsareheldatamortisedcostandtheeffectiveinterestontheassetswillberecognisedinprofitorlossoverthetermoftheasset.BTheseassetsareheldatcostandgainsandlosseswillonlyberecognisedondisposaloftheassetsCTheseassetsarerestatedtofairvalueandgainsandlossesarerecognisedinothercomprehensiveincome.DTheseassetsarerestatedtofairvalueandgainsandlossesarerecognisedinprofitorloss.第4題WhichONEofthefollowingstatementsiscorrect?AEPS=(Netincome-commondividends)/weightedaveragenumberofpreferredsharesoutstandingBEPS=Netincome/weightedaveragenumberofcommonsharesoutstandingCEPS=(Netincome-Preferreddividends)/endingnumberofcommonsharesDEPS=(Netincome-Preferreddividends)/weightedaveragenumberofcommonsharesoutstanding第5題?WhichONEofthefollowingstatementsabouttheearningspershareratioiscorrect?AEarningspersharerepresentsthereturnontheinvestmentforallcapitalprovidersBEarningspershareiscalculatedasprofitaftertaxdividedbythetotalnumberofordinarysharesattheyearendCThedenominatoroftheearningspershareratioistheweightedaveragenumberofordinarysharesoutstandingduringtheperiodDAllentitiesmustdiscloseearningspershareintheirfinancialstatements第6題?Afinancialassetisanyassetthatis:AacontractualrighttoexchangefinancialinstrumentswithanotherentityunderconditionsthatarepotentiallyfavourableBacontractualrighttoreceivecashoranotherfinancialassetfromanotherentityCanequityinstrumentofanotherentityDcash正確答案：ABCD第7題?Whichofthefollowingareelementsofhedge?ATypesofhedgeBHedginginstrumentsCHedgeditemDHedgedrisk正確答案：BCD第8題?Hedginginstrumentsincludewhichofthefollowing:AFuturesBOptionsCForwardcontractDSwap正確答案：ABCD第9題Afinancialinstrumentisanycontractthatgivesrisetobothafinancialassetofoneenterpriseandafinancialliabilityorequityinstrumentofanotherenterprise第10題?Thefourcategoriesoffinancialinstrumentsare(a)Financialassetsorliabilitiesatfairvaluesthroughprofitorloss,(b)Held-to-maturityinvestments,(c)Loansandreceivables,and(d)Available-for-salefinancialassets.

Unit8Test第1題Goodwillarisingonacquisitionisaccountedfor.Whichstatementiscorrectconcerningtheaccountingtreatmentofpositivegoodwillarisingonacquisition?

AAmortisedoveritsusefullifeBRevaluedtofairvalueateachyearendCCarriedatcost,withanannualimpairmentreviewDWrittenoffagainstreservesonacquisition第2題?Wherethepurchasepriceofanacquisitionislessthantheaggregatefairvalueofthenetassetsacquired,whichoneofthefollowingaccountingtreatmentsofthedifferenceisrequired?

AImmediaterecognitionasagaininthestatementofprofitorlossBRecognitioninthestatementofprofitorlossoveritsestimatedusefullifeCImmediaterecognitionasagaininthestatementofchangesinequityDDeductionfromgoodwillintheconsolidatedstatementoffinancialposition第3題Eachofthefollowingeventsoccurredafterthereportingdateof31March2015,butbeforethefinancialstatementswereauthorisedforissue.WhichwouldbetreatedasaNON-adjustingeventunderCAS29EventsAftertheReportingPeriod?AAsaleofgoodsinApril2015whichhadbeenheldininventoryat31March2015.Thesalewasmadeatapricebelowitscarryingamountat31March2015BEvidencethat$20,000ofgoodswhichwerelistedaspartoftheinventoryinthestatementoff