2020 财务会计（FIA)-FFA(广西财经学院) 最新满分章节测试答案

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本课程起止时间为:2020-03-02到2020-07-31
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Chapter8-inventory Inventory

1、 问题:The inventory value for the financial statements of Global Inc for the year ended 30 June 20X3 was based on a inventory count on 7 July 20X3, which gave a total inventory value of $950,000.Between 30 June and 7 July 20X6, the following transactions took place. $Purchase of goods 11,750Sale of goods (mark up on cost at 15%) 14,950Goods returned by Global Inc to supplier 1,500What figure should be included in the financial statements for inventories at 30 June 20X3?
选项：
A:$952,750
B:$949,750
C:$926,750
D:$958,950
答案: 【$952,750】

2、 问题:The closing inventory at cost of a company at 31 January 20X3 amounted to $284,700.The following items were included at cost in the total:1 400 coats, which had cost $80 each and normally sold for $150 each. Owing to a defect in manufacture, they were all sold after the reporting date at 50% of their normal price. Selling expenses amounted to 5% of the proceeds.2 800 skirts, which had cost $20 each. These too were found to be defective. Remedial work in February 20X3 cost $5 per skirt, and selling expenses for the batch totalled $800. They were sold for $28 each.What should the inventory value be according to IAS 2 Inventories after considering the above items?
选项：
A:$281,200
B:$282,800
C:$329,200
D:None of these
答案: 【$281,200】

3、 问题:A company values its inventory using the first in, first out (FIFO) method. At 1 May 20X2 the company had 700 engines in inventory, valued at $190 each.During the year ended 30 April 20X3 the following transactions took place:20X21 July Purchased 500 engines at $220 each1 November Sold 400 engines for $160,00020X31 February Purchased 300 engines at $230 each15 April Sold 250 engines for $125,000What is the value of the company’s closing inventory of engines at 30 April 20X3?
选项：
A:$188,500
B:$195,500
C:$166,000
D:None of these figures
答案: 【$188,500】

4、 问题:In preparing its financial statements for the current year, a company’s closing inventory was understated by $300,000.What will be the effect of this error if it remains uncorrected?
选项：
A:The current year’s profit will be overstated and next year’s profit will be understated.
B:The current year’s profit will be understated but there will be no effect on next year’s profit.
C:The current year’s profit will be understated and next year’s profit will be overstated.
D:The current year’s profit will be overstated but there will be no effect on next year’s profit.
答案: 【The current year’s profit will be understated and next year’s profit will be overstated.】

5、 问题:A company has decided to switch from using the FIFO method of inventory valuation to using the average cost method (AVCO).In the first accounting period where the change is made, opening inventory valued by the FIFO method was $53,200. Closing inventory valued by the AVCO method was $59,800.Total purchases during the period were $136,500. Using the AVCO method, opening inventory would have been valued at $56,200.What is the cost of materials that should be included in the statement of profit or loss for the period?
选项：
A:$129,900
B:$132,900
C:$135,900
D:$140,100
答案: 【$132,900】

6、 问题:Which one of the following statements about the use of a continuous inventory system is INCORRECT?
选项：
A:In a retail organisation, a continuous inventory system can be used to keep track of the quantity of each stock item available in its distribution centers.
B:Under continuous inventory, the cost of each receipt of inventory and the cost of each issue from inventory is recorded individually.
C:A continuous inventory system removes the need for periodic physical inventory counts.
D:Both the FIFO and average cost (AVCO) methods of pricing inventory may be used within a continuous inventory system.
答案: 【A continuous inventory system removes the need for periodic physical inventory counts.】

7、 问题:Which of the following statements about IAS 2 Inventories is correct?
选项：
A:Production overheads should be included in cost on the basis of a company’s normal level of activity in the period.
B:In arriving at the net realisable value of inventories, trade discounts and settlement discounts must be deducted.
C:In arriving at the cost of inventories, FIFO, LIFO and weighted average cost formulas are acceptable.
D:It is permitted to value finished goods inventories at materials plus labour cost only, without adding production overheads.
答案: 【Production overheads should be included in cost on the basis of a company’s normal level of activity in the period.】

Chapter9-tangible non-current assets Tangible non-current assets

1、 问题:What is the purpose of charging depreciation in accounts?
选项：
A:To allocate the cost of a non-current asset over the accounting periods expected to benefit from its use
B:To ensure that funds are available for the eventual replacement of the asset
C:To reduce the cost of the asset in the statement of financial position to its estimated market value
D:To account for the ‘wearing-out’ of the asset over its life
答案: 【To allocate the cost of a non-current asset over the accounting periods expected to benefit from its use】

2、 问题:An asset register showed a carrying value of $67,460. A non-current asset costing $15,000 had been sold for $4,000, making a loss on disposal of $1,250. No entries had been made in the asset register for this disposal.What is the correct balance on the asset register?
选项：
A:$42,710
B:$51,210
C:$53,710
D:$62,210
答案: 【$62,210】

3、 问题:Which one of the following would occur if the purchase of computer stationary was debited to the computer equipment at cost account?
选项：
A:An overstatement of profit and an overstatement of non-current assets
B:An understatement of profit and an overstatement of non-current assets
C:An overstatement of profit and an understatement of non-current assets
D:An understatement of profit and an understatement of non-current assets
答案: 【An overstatement of profit and an overstatement of non-current assets】

4、 问题:A company’s policy is to charge depreciation on plant and machinery at 20% per year on cost, with proportional depreciation for items purchased or sold during a year.The company’s plant and machinery at cost account for the year ended 30 September 20X3 is shown below. PLANT AND MACHINERY – COST $ $20X2 20X31 Oct Balance 200,000 30 Jun Transfer disposal account 40,000 30 Sep Balance 210,00020X31 Apr Cash-purchase of plant 50,000 _ 250,000 250,000What should be the depreciation charge for plant and machinery (excluding any profit or loss on the disposal) for the year ended 30 September 20X3?
选项：
A:$43,000
B:$51,000
C:$42,000
D:$45,000
答案: 【$43,000】

5、 问题:A manufacturing company receives an invoice on 29 February 20X2 for work done on one of its machines. $25,500 of the cost is actually for a machine upgrade, which will improve efficiency. The accounts department do not notice and charge the whole amount to maintenance costs. Machinery is depreciated at 25% per annum on a straight-line basis, with a proportional charge in the years of acquisition and disposal. By what amount will the profit for the year to 30 June 20X2 be understated?
选项：
A:$19,125
B:$25,500
C:$23,375
D:$21,250
答案: 【$23,375】

6、 问题:What are the correct ledger entries to record an acquisition of a non-current asset on credit?
选项：
A:Debit CreditNon-current assets – cost Receivables
B:Debit CreditPayables Non-current assets – cost
C:Debit CreditNon-current assets – cost Payables
D:Debit CreditNon-current assets – cost Revaluation surplus
答案: 【Debit CreditNon-current assets – cost Payables】

7、 问题:Which of the following statements are correct?1 IAS 16 Property, plant and equipment requires entities to disclose the purchase date of each asset.2 The carrying amount of a non-current asset is the cost or valuation of that asset less accumulated depreciation.3 IAS 16 Property, plan and equipment permits entities to make a transfer from the revaluation surplus to retained earnings for excess depreciation on revalued assets.4 Once decided, the useful life of a non-current asset should not be changed.
选项：
A:1, 2 and 3
B:2 and 3 only
C:2 and 4 only
D:1,2 and 4 only
答案: 【2 and 3 only】

8、 问题:B acquired a lorry on 1 May 20X0 at a cost of $30,000. The lorry has an estimated useful life of four years, and an estimated resale value at the end of that time of $6,000. B charges depreciation on the straight line basis, with a proportionate charge in the period of acquisition.What will the depreciation charge for the lorry be in B’s accounting period to 30 September 20X0?
选项：
A:$3,000
B:$2,500
C:$2,000
D:$5,000
答案: 【$2,500】

9、 问题:At 31 December 20X3 Q, a limited liability company, owned a building that had cost $800,000 on 1 January 20W4.It was being depreciated at 2% per year.On 31 December 20X3 a revaluation to $1,000,000 was recognised. At this date the building had a remaining useful life of 40 years.What is the balance on the revaluation surplus at 31 December 20X3 and the depreciation charge in the statement of profit or loss for the year ended 31 December 20X4? Depreciation charge for Revaluation surplus year ended 31 December 20X4 as at 31 December 20X3 (statement of profit or loss) (statement of financial position) $ $
选项：
A: 25,000 200,000
B: 25,000 360,000
C: 20,000 200,000
D: 20,000 360,000
答案: 【 25,000 360,000】

10、 问题:Which one of the following costs would be classified as revenue expenditure on the invoice for a new company car?
选项：
A:Road tax
B:Number plates
C:Fitted stereo radio
D:Delivery costs
答案: 【Road tax】

11、 问题:A company purchased an asset on 1 January 20X3 at a cost of $1,000,000. It is depreciated over 50 years by the straight line method (nil residual value), with a proportionate charge for depreciation in the year of acquisition and the year of disposal. At 31 December 20X4 the asset was re-valued to $1,200,000. There was no change in the expected useful life of the asset.The asset was sold on 30 June 20X5 for $1,195,000.What profit or loss on disposal of the asset will be reported in the statement of profit or loss of the company for the year ended 31 December 20X5?
选项：
A:Profit of $7,500
B:Profit of $235,000
C:Profit of $247,500
D:Loss of $5,000
答案: 【Profit of $7,500】

12、 问题:Which of the following items should be included in current assets?(i) Assets which are not intended to be converted into cash (ii) Assets which will be converted into cash in the long term (iii) Assets which will be converted into cash in the near future
选项：
A:(i) only
B:(ii) only
C:(iii) only
D:(ii) and (iii)
答案: 【(iii) only】

13、 问题:Gamma purchases a motor vehicle on 30 September 20X1 for $15,000 on credit. Gamma has a policy of depreciating motor vehicles using the reducing balance method at 15% per annum, pro rata in the years of purchase and sale.What are the correct ledger entries to record the purchase of the vehicle at 30 September 20X1 and what is the depreciation charge for the year ended 30 November 20X1? Purchase of motor Depreciation charge vehicle on 30.9.X1 for year ended 30.11.X1
选项：
A:Dr Non-current assets – cost $15,000 $2,250 Cr Payables $15,000
B:Dr Payables $15,000 $2,250 Cr Non-current assets – cost $15,000
C:Dr Non-current assets – cost $15,000 $375 Cr Payables $15,000
D:Dr Payables $15,000 $375 Cr Non-current assets – cost $15,000
答案: 【Dr Non-current assets – cost $15,000 $375 Cr Payables $15,000 】

Chapter10-intangible non-current assets Intangible non-current assets

1、 问题:According to IAS 38 Intangible assets, which of the following statements about research and development expenditure are correct?1 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as incurred.2 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether there will be adequate finance available to complete the project.3 Development expenditure recognised as an asset must be amortised over a period not exceeding five years.
选项：
A:1, 2 and 3
B:1 and 2 only
C:1 and 3 only
D:2 and 3 only
答案: 【1 and 2 only】

2、 问题:According to IAS 38 Intangible assets, which of the following are intangible non-current assets in the accounts of lota Co?1 A patent for a new glue purchased for $20,000 by lota Co2 Development costs capitalised in accordance with IAS 383 A licence to broadcast a television series, purchased by lota Co for $150,0004 A state of the art factory purchased by lota Co for $1.5million
选项：
A:1 and 3 only
B:1, 2 and 3 only
C:2 and 4 only
D:2, 3 and 4 only
答案: 【1, 2 and 3 only】

3、 问题:The following information is relevant for questions 3 and 4.The following balances existed in the accounting records of Koppa Co, at 31 December 20X7. $’000Development costs capitalised, 1 January 20X7 180Research and development expenditure for the year 162In preparing the company’s statement of profit or loss and other comprehensive income and statement of financial position at 31 December 20X7 the following further information is relevant.(a) The $180,000 total for development costs as at 1 January 20X7 relates to two projects: $’000 Project 836: completed project 82 (balance being amortised over the period expected to benefit from it. Amount to be amortised in 20X7: $20,000) Project 910: in progress 98 180 (b) The research and development expenditure for the year is made up of: $’000 Research expenditure 103 Development costs on Project 910 which continues to satisfy the requirements in IAS 38 for capitalisation 59 162According to IAS 38 Intangible assets, what amount should be charged in the statement of profit or loss and other comprehensive income for research and development costs for the year ended 31 December 20X7?
选项：

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