2021 中级财务会计(暨南大学) 最新满分章节测试答案

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本课程起止时间为:2021-08-30到2021-12-31

Week 1 Liability I Week 1 Liability I Module Test

小提示:本节包含奇怪的同名章节内容

1、 问题:Which of the following is a financial liability? ( )
选项：
A:A magazine publisher’s obligation to provide the magazine monthly for an agreed-upon period.
B:Warranties.
C:Accounts payable.
D:Income taxes payable.
答案: 【Accounts payable.】

2、 问题:Which is an example of a liability? ( )
选项：
A:The decision to borrow $150,000 from the ABC Bank on January 15, 2013.
B:Withdrawing $10,000 from the operating line of credit on January 15, 2013.
C:Selecting the supplier to provide the raw materials for the manufacturing process.
D:Choosing the site for a future plant expansion from a list of several possible choices.
答案: 【Withdrawing $10,000 from the operating line of credit on January 15, 2013.】

3、 问题:Which of the following is correct about a "liability" under IFRS Framework? ( )
选项：
A:A future obligation arising from past events, the settlement of which is expected to result in an inflow of resources.
B:A present obligation arising from past events, the settlement of which is expected to result in an inflow of resources.
C:A past obligation arising from past events, the settlement of which is expected to result in an outflow of resources.
D:A present obligation arising from past events, the settlement of which is expected to result in an outflow of resources.
答案: 【A present obligation arising from past events, the settlement of which is expected to result in an outflow of resources.】

4、 问题:Which statement is correct under the IFRS definition for a "liability"? ( )
选项：
A:The obligating event must be probable before the liability can be recognized.
B:The obligating event must be virtually certain before the liability can be recognized.
C:A reliable measure of the obligation must exist before the liability can be recognized.
D:A precise measure of the obligation must exist before the liability can be recognized.
答案: 【A reliable measure of the obligation must exist before the liability can be recognized.】

5、 问题:Which is not an example of a financial liability? ( )
选项：
A:Payment to supplier for raw material received.
B:Obligation to repay a US dollar bank loan.
C:Obligation under a finance lease.
D:Obligation under a customer loyalty program.
答案: 【Obligation under a customer loyalty program.】

6、 问题:For a $200,000 trade payable with terms of 2/15, net 50, how much would be reported as "purchase discount lost" under the net method if a payment was made after 60 days? ( )
选项：
A:$0
B:$4,000
C:$5,000
D:$30,000
答案: 【$4,000】

7、 问题:Which statement is correct? ( )
选项：
A:Supplier discounts can only be accounted for by using the net method.
B:When the net method is used, the payable is recorded at the invoiced amount.
C: When the gross method is used, the payable is recorded at the invoiced amount less the discount
D:From a theoretical perspective, the net method should be used as forgone discounts are a financing cost
答案: 【From a theoretical perspective, the net method should be used as forgone discounts are a financing cost】

8、 问题:On March 1, 20X0, G company issued a $20,000, non-interest bearing note, due on March 1, 20X1, in exchange for a machine. The fair value of the machine is not easily determinable. The market rate of interest for similar transactions is 4%. G’s year-end is December 31. Which statement is correct? ( )
选项：
A: At the issuance date, the company should Debit Note Payable 19,231
B:At the issuance date, the company should Credit Note Payable 19,231.
C:At the issuance date, the company should Debit Note Payable 20,000.
D:At the issuance date, the company should Credit Note Payable 20,000.
答案: 【At the issuance date, the company should Credit Note Payable 19,231.】

9、 问题:On March, 20X0, G company issued a $20,000, non-interest bearing note, due on March 1, 20X1, in exchange for a machine. The fair value of the machine is not easily determinable. The market rate of interest for similar transactions is 4%. G’s year-end is December 31.Which statement is correct? ( )
选项：
A:To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 769 and Credit Note payable 769.
B:To record the accrual of interest at December 31, 20X0, the company should Debit Note payable 769 and Credit interest expense 769.
C:To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 641 and Credit Note payable 641.
D:To record the accrual of interest at December 31, 20X0, the company should Debit Note payable 641 and Credit interest expense 641.
答案: 【To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 641 and Credit Note payable 641.】

10、 问题:In December 20X0, a shoe store offered its customers a discount voucher that entitles them to a 30% discount on their purchases the following January. The store’s sales for December 20X0, were of $2 million and 15,000 vouchers were awarded to customers. The store estimates that the sale proceeds in January 2018 will be of $1.5 million and approximately 20% of the sale will be related by vouchers. Which statement is correct? ( )
选项：
A:The journal entry at 20X0: Debit Revenue 1,880,000
B:The journal entry at 20X0: Credit Revenue 1,880,000
C:The journal entry at 20X0: Debit Revenue 1,910,000
D:The journal entry at 20X0: Credit Revenue 1,910,000
答案: 【The journal entry at 20X0: Credit Revenue 1,910,000】

11、 问题:Which of the following is correct about a “liability” under IFRS Framework? ( )
选项：
A:A future obligation arising from past events, the settlement of which is expected to result in an inflow of resources.
B:A present obligation arising from past events, the settlement of which is expected to result in an inflow of resources.
C:A past obligation arising from past events, the settlement of which is expected to result in an outflow of resources.
D:A present obligation arising from past events, the settlement of which is expected to result in an outflow of resources.
答案: 【A present obligation arising from past events, the settlement of which is expected to result in an outflow of resources.】

12、 问题:Which statement is correct under the IFRS definition for a “liability”? ( )
选项：
A:The obligating event must be probable before the liability can be recognized.
B:The obligating event must be virtually certain before the liability can be recognized.
C:A reliable measure of the obligation must exist before the liability can be recognized.
D:A precise measure of the obligation must exist before the liability can be recognized.
答案: 【A reliable measure of the obligation must exist before the liability can be recognized.】

13、 问题:For a $200,000 trade payable with terms of 2/15, net 50, how much would be reported as “purchase discount lost” under the net method if a payment was made after 60 days? ( )
选项：
A:$0
B:$4,000
C:$5,000
D:$30,000
答案: 【$4,000】

14、 问题:On March, 20X0, G company issued a $20,000, non-interest bearing note, due on March 1, 20X1, in exchange for a machine. The fair value of the machine is not easily determinable. The market rate of interest for similar transactions is 4%. G’s year-end is December 31.Which statement is correct? ( )
选项：
A:To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 769 and Credit Note payable 769.
B:To record the accrual of interest at December 31, 20X0, the company should Debit Note payable 769 and Credit interest expense 769.

C:To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 641 and Credit Note payable 641.
D:To record the accrual of interest at December 31, 20X0, the company should Debit Note payable 641 and Credit interest expense 641.

答案: 【To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 641 and Credit Note payable 641.】

Week 2 Liability II Week 2 Liability II Module Test

1、 问题:Sales made in fiscal 20X0 for $50,000,000 include a 5 year warranty coverage. The estimated cost for warranty is expected to be 2% for the first 4 years and 5% for the last year. Determine how much warranty expense will be recorded in fiscal 20X0. (  )
选项：
A:1,000,000
B:4,000,000
C:5,000,000
D:6,500,000
答案: 【6,500,000】

2、 问题:Which statement about warranties is correct?  (  )
选项：
A:Warranties are provisions.
B:Warranties included with the product sold are accounted for under IFSR15.
C:Warranties are financial liabilities.
D:Companies only use cash basis method to account for warranty costs.
答案: 【Warranties are provisions.】

3、 问题:Which statement about contingent liabilities is correct?  ( )
选项：
A:It is a possible obligation that arises from past transactions and events.
B:It is an obligation that arises from past transactions and events.
C:It involves uncertainty about either the timing or the amount of payment.
D:It is a condition that depends upon the outcome of an anticipated event.
答案: 【It is a possible obligation that arises from past transactions and events.】

4、 问题:Which statement is correct about provisions, contingent assets and contingent liabilities? ( )
选项：
A:Provisions are recorded in the financial statements whereas contingent assets are not recorded.
B:Provisions are recorded in the financial statements whereas contingent liabilities are not recorded.
C:Probable contingent liabilities are recorded at management’s best estimates.
D:Probable contingent assets are recorded at management’s best estimates.
答案: 【Provisions are recorded in the financial statements whereas contingent assets are not recorded.】

5、 问题: What are "non-current liabilities"?  (  )
选项：
A:Obligations that are expected to be settled in the next operating cycle of the company.
B:Obligations that are expected to be settled within the next 12 months.
C:Obligations that are expected to be settled more than 12 months after the company’s year-end.
D:Obligations that are expected to be settled more than 24 months after the company’s year-end.
答案: 【Obligations that are expected to be settled more than 12 months after the company’s year-end.】

6、 问题:Which statement is correct about financial leverage?  (  )
选项：
A:It reduces the risk of bankruptcy to the company.
B:It reduces the level of risk exposure of the shareholders.
C:It quantifies the relationship between the relative level of a firm’s debt and its equity base.
D:It has nothing to do with the relationship between the relative level of a firm’s debt and its equity base.
答案: 【It quantifies the relationship between the relative level of a firm’s debt and its equity base.】

7、 问题:Which statement is correct about the financial leverage of a company with an equity base of $400,000?  (  )
选项：
A:A company that borrows $150,000 is more leveraged than a company that borrows $250,000.
B:A company that borrows $250,000 is more leveraged than a company that borrows $150,000.
C:The return on equity of the company is unaffected by the financial leverage.
D:The return on equity of the company will be higher if it has a lower leverage.
答案: 【A company that borrows $250,000 is more leveraged than a company that borrows $150,000.】

8、 问题:What is the "best efforts" approach? ( )
选项：
A:Broker’s guarantee of the price to the borrower.
B:Broker sells as much of the debt issue as possible.
C:Debt that is backed by specific collateral.
D:Feature that permits the issuer to redeem before maturity.
答案: 【Broker sells as much of the debt issue as possible.】

9、 问题:What is "firm commitment" underwriting? ( )
选项：
A:Broker’s guarantee of the price to the borrower.