财务习题——习题答案一起

财务习题—— 习题答案 工程经济学课后答案小学生必背古诗文7综合教程3课后答案高中数学必修2答案高等数学同济课后答案 一起Reading22.FinancialStatementAnalysis:AnIntroduction 试题 中考模拟试题doc幼小衔接 数学试题 下载云南高中历年会考数学试题下载N4真题下载党史题库下载 整理PRACTICEPROBLEMS1.Providinginformationabouttheperformanceandfinancialpositionofcompaniessothatuserscanmakeeconomicdecisionsbestdescribestheroleof:A.auditing.B.financialreporting.C.financialstatementanalysis.2.Acompany'scurrentfinancialpositionwouldbestbeevaluatedusingthe:A.balancesheet.B.incomestatement.C.statementofcashflows.3.Acompany'sprofitabilityforaperiodwouldbestbeevaluatedusingthe:A.balancesheet.B.incomestatement.C.statementofcashflows.4.Accountingpolicies,methods,andestimatesusedinpreparingfinancialstatementsaremostlikelyfoundinthe:A.auditor'sreport.B.managementcommentary.C.notestothefinancialstatements.5.Informationaboutmanagementanddirectorcompensationwouldleastlikelybefoundinthe:A.auditor'sreport.B.proxystatement.C.notestothefinancialstatements.6.Informationaboutacompany'sobjectives,strategies,andsignificantriskswouldmostlikelybefoundinthe:A.auditor'sreport.B.managementcommentary.C.notestothefinancialstatements.7.Whattypeofauditopinionispreferredwhenanalyzingfinancialstatements?A.Qualified.B.Adverse.C.Unqualified.8.Ratiosareaninputintowhichstepinthefinancialstatementanalysisframework?A.Processdata.B.Collectinputdata.C.Analyze/interprettheprocesseddata.Reading22.FinancialStatementAnalysis:AnIntroduction试题 答案 八年级地理上册填图题岩土工程勘察试题省略号的作用及举例应急救援安全知识车间5s试题及答案 整理SolutionsSOLUTIONS1.Biscorrect.Thisistheroleoffinancialreporting.Theroleoffinancialstatementanalysisistoevaluatethefinancialreports.2.Aiscorrect.Thebalancesheetportraysthecurrentfinancialposition.Theincomestatementandstatementofcashflowspresentdifferentaspectsofperformance.3.Biscorrect.Profitabilityistheperformanceaspectmeasuredbytheincomestatement.Thebalancesheetportraysthecurrentfinancialposition.Thestatementofcashflowspresentsadifferentaspectofperformance.4.Ciscorrect.Thenotesdisclosechoicesinaccountingpolicies,methods,andestimates.5.Aiscorrect.Informationaboutmanagementanddirectorcompensationisnotfoundintheauditor'sreport.Disclosureofmanagementcompensationisrequiredintheproxystatement,andsomeaspectsofmanagementcompensationaredisclosedinthenotestothefinancialstatements.6.Biscorrect.Thesearecomponentsofmanagementcommentary.7.Ciscorrect.Anunqualifiedopinionisa"clean"opinionandindicatesthattheFinancialstatementspresentthecompany'sperformanceandfinancialpositionfairlyinaccordancewithaspecifiedsetofaccountingstandards.8.Ciscorrect.Ratiosareanoutputoftheprocessdatastepbutareaninputintotheanalyze/interpretdatastep.Reading23.FinancialReportingMechanics试题整理1.Whichofthefollowingitemswouldmostlikelybeclassifiedasanoperatingactivity?A.Issuanceofdebt.B.Acquisitionofacompetitor.C.Saleofautomobilesbyanautomobiledealer.2.Whichofthefollowingitemswouldmostlikelybeclassifiedasfinancingactivity?A.Issuanceofdebt.B.Paymentofincometaxes.C.Investmentsinthestockof'asupplier.3.Whichofthefollowingelementsrepresentsaneconomicresource?A.Asset.B.Liability.C.Owners'equity.4.Whichofthefollowingelementsrepresentsaresidualclaim?A.Asset.B.Liability.C.Owners'equity.5.Ananalysthasprojectedthatacompanywillhaveassetsof€2,000atyear-endandliabilitiesof€1,200.Theanalyst'sprojectionoftotalowners'equityshouldbeclosestto:A.€800.B.€2,000.C.€3,200.6.Ananalysthascollectedthefollowinginformationregardingacompanyinadvanceofitsyear-endearningsannouncement(inmillions):Estimatednetincome$200Beginningretainedearnings$1,400Estimateddistributionstoowners$100Theanalyst'sestimateofendingretainedearnings{inmillions}shouldbeclosestto:A.$1,300.B.$1,500.C.$1,700.7.AnanalysthascompiledthefollowinginformationregardingRubsam,Inc.Liabilitiesatyear-end€1,000Contributedcapitalatyear-end€500Beginningretainedearnings€600RevenueduringtheyearRevenueduringtheyear€5,000Expensesduringtheyear€4,300Therehavebeennodistributionstoowners.Theanalyst'smostlikelyestimateoftotalassetsatyear-endshouldbeclosestto:A€2,100.B€2.300.C€2,800.8.Agroupofindividualsformedanewcompanywithaninvestmentof$500,000.themostlikelyeffectofthistransactiononthecompany'saccountingequationatthetimeoft:heformationisanincreaseincashand:A.anincreaseinrevenue.B.anincreaseinliabilities.C.anincreaseinContributedcapital.9.HVG,LLCpaid$12,000ofcashtoarealestatecompanyuponsigningaleaseon31December2005.Thepaymentrepresentsa$4,000securitydepositand$4,000ofrentforeachofJanuary2006andFebruary2006.AssumingthatthecorrectaccountingistoreflectbothJanuaryandFebruaryrentasprepaid.ThemostlikelyeffectonHVG'saccountingequationinDecember2005is:A.nonetchangeinassets.B.adecreaseinassetsof$8,000.C.adecreaseinassetsof$12,000.10.TRREnterprisessoldproductstocustomerson30June2006foratotalpriceof€10,000.Thetermsofthesalearethatpaymentisduein30days.Thecostoftheproductswas€8,000.ThemostlikelynetchangeinTRR'stotalassetson30June2006relatedtothistransactionis:A.€O.B.€2,000.C.€10,000.11.On30April2006,PintoProductsreceivedacashpaymentof$30,000asadepositonproductionofacustommachinetobedeliveredinAugust2006thistransactionwouldmostlikelyresultinwhichofthefollowingon30April2006?A.Noeffectonliabilities.B.Adecreaseinassetsof$30,000.C.Anincreaseinliabilitiesof$30,000.12.Squires&Johnson,Ltd.,recorded€250,000ofdepreciationexpenseinDecember2005.Themostlikelyeffectonthecompany'saccountingequationis:A.noeffectonassets.B.adecreaseinassetsof€250,000.C.anincreaseinliabilitiesof€250,000.13.Ananalystwhoisinterestedinassessingacompany'sfinancialpositionismostlikelytofocusonwhichfinancialstatement?A.Balancesheet.B.Incomestatement.C.Statementofcashflows.14.Thestatementofcashflowspresentstheflowsintowhichthreegroupsofbusinessactivities?A.Operating,Nonoperating,andFinancing.B.Operating,Investing,andFinancing.C.Operating.Nonoperating,andInvesting.15.Whichofthefollowingstatementsaboutcashreceivedpriortotherecognitionofrevenueinthefinancialstatementsismostaccurate?Thecashisrecordedas;A.deferredrevenue,anasset.B.accruedrevenue,aliability.C.deferredrevenue,aliability.16.When,attheendofanaccountingperiod,arevenuehasbeenrecognizedinthefinancialstatementsbutnobillinghasoccurredandnocashhasbeenreceived,theaccrualisto:A.unbilled(accrued)revenue,anasset.B.deferredrevenue,anasset.C.unbilled(accrued)revenue,aliability17.Whenattheendofanaccountingperiod.cashhasbeenpaidwithrespecttoanexpense,thebusinessshouldthenrecord:A.anaccruedexpense,anasset.B.aprepaidexpense,anasset.C.anaccruedexpense,aliability18.When,attheendofanaccountingperiod,cashhasnotbeenpaidwithrespecttoanexpensethathasbeenincurred,thebusinessshouldthenrecord:A.anaccruedexpense,anasset.B.aprepaidexpense,anasset.C.anaccruedexpense.aliabilitv.19.Thecollectionofallbusinesstransactionssortedbyaccountinanaccountingsystemisreferredtoas:A.atrialbalance.B.ageneralledger.C.ageneraljournal.20.Ifacompanyreportedfictitiousrevenue,itcouldtrytocoverupitsfraudby:A.decreasingassets.B.increasingliabilities.C.creatingafictitiousasset.Reading23.FinancialReportingMechanics试题答案整理1.Ciscorrect.Salesofproducts,aprimarybusinessactivity,areclassifiedasanoperatingactivity.Issuanceofdebtwouldbeafinancingactivity.Acquisitionofacompetitorandthesaleofsurplusequipmentwouldbothbeclassifiedasinvestingactivities.2.Aiscorrect.Issuanceofdebtwouldbeclassifiedasafinancingactivity.Bisincorrectbecausepaymentofincometaxeswouldbeclassifiedasanoperatingactivity.Cisincorrectbecauseinvestmentsincommonstockwouldbegenerallyclassifiedasinvestingactivities.3.Aiscorrect.Anassetisaneconomicresourceofanentitythatwilleitherbeconvertedintocashorconsumed.4.Ciscorrect.Owners'equityisaresidualclaimontheresourcesofabusiness.5.Aiscorrect.Assetsmustequalliabilitiesplusowners'equityand,therefore,€2,000=€1,200+Owners'equity.Owners'equitymustbe€800.6.Biscorrect.Beginningretainedearnings$l，400+Netincome200-Distributionstoowners(100)=Endingretainedearnings$l,5007.Ciscorrect.Assets=Liabilities+Contributedcapital+Beginningretainedearnings-Distributionstoowners+Revenues-ExpensesLiabilities$l,000+Contributedcapital500+Beginningretainedearnings600-Distributionstoowners(0)+Revenues5,000-Expenses(4,300)=Assets$2,8008.Ciscorrect.Thisisacontributionofcapitalbytheowners.AssetswouldIincreaseby$500,000andcontributedcapitalwouldincreaseby$500,000,maintainingthebalanceoftheaccountingequation.9.Aiscorrect.ThepaymentofJanuaryrentrepresentsprepaidrent(anasset)whichwillbeadjustedattheendofJanuarytorecordrentexpense.Cash(anasset)decreasesby$12,000.Deposits(anasset)increaseby$4.000.Prepaidrent(anasset)increasesby$8,000.Thereisnonetchangeinassets.10.Biscorrect.Thesaleofproductswithoutreceiptofcashresultsinanincreaseinaccountsreceivable(anasset)of€10,000.Thebalanceininventory(anasset)decreasesby€8,000.Thenetincreaseinassetsis€2,000.Thiswouldbebalancedbyanincreaseinrevenueof€10,000andanincreaseinexpenses(costsofgoodssold)of€8,000.11.Ciscorrect.Thereceiptofcashinadvanceofdeliveringgoodsorservicesresultsinunearnedrevenue,whichisaliability.Thecompanyhasanobligationtodeliver$30,000ingoodsinthefuture.Thisbalancestheincreaseincash(anasset)of$30,000.12.Biscorrect.Depreciationisanexpenseandincreasesaccumulateddepreciation.Accumulateddepreciationisacontraaccountwhichreducespropertyplant.andequipment(anasset)by€250,000.Assetsdecreaseby€250.000andexpensesincreaseby€250,000.13.Aiscorrect.Thebalancesheetshowsthefinancialpositionofacompanyataparticularpointintime.Thebalancesheetisalsoknownasa"statementoffinancialposition."14.Biscorrect.Thethreesectionsofthestatementofcashflowsareoperating,investing,andfinancingactivities.15.Ciscorrect.Cashreceivedpriortorevenuerecognitionincreasescashanddeferredorunearnedrevenue.Thisisaliabilityuntilthecompanyprovidesthepromisedgoodsorservices.16.Aiscorrect.Whencashistobereceivedafterrevenuehasbeenrecognizedbutnobillinghasactuallyoccurred,anunbilled(accrued)revenueisrecorded.Suchaccrualswouldusuallyoccurwhenanaccountingperiodendspriortoacompanybillingitscustomer.Thistypeofaccrualcanbecontrastedwithasimplecreditsale,whichisreflectedasanincreaseinrevenueandanincreaseinaccountsreceivable.Noaccrualisnecessary.17.Biscorrect.Paymentofexpensesinadvanceiscalledaprepaidexpensewhichisclassifiedasanasset.18.Cjscorrect.Whenanexpenseisincurredandnocashhasbeenpaid,expensesareincreasedandaliability("accruedexpense")isestablishedforthesameamount.19.Biscorrect.Thegeneralledgeristhecollectionofallbusinesstransactionssortedbyaccountinanaccountingsystem.Thegeneraljournalisthecollectionofallbusinessactivitiessortedbydate.20.Ciscorrect.Inordertobalancetheaccountingequationthecompanywouldeitherneedtoincreaseassetsordecreaseliabilities.Creatingafictitiousasseswouldbeonewayofattemptingtocoverupthefraud.Reading24.FinancialReportingStandards试题整理1.Whichofthefollowingismostlikelynotanobjectiveoffinancialstatements?A.Toprovideinformationabouttheperformanceofanentity.B.Toprovideinformationaboutthefinancialpositionofanentity.C.Toprovideinformationabouttheusersofanentity'sfinancialstatements.2.Internationalfinancialreportingstandardsarecurrentlydevelopedbywhichentity?A.TheIFRSFoundation.B.TheInternationalAccountingStandardsBoard.C.TheInternationalOrganizationofSecuritiesCommissions.3.U.S.generallyacceptedaccountingprinciplesarecurrentlydevelopedbywhichentity?A.TheSecuritiesandExchangeCommission.B.TheFinancialAccountingStandardsBoard.C.ThePublicCompanyAccountingOversightBoard.4.Whichofthefollowingstatementsaboutdesirableattributesofaccountingstandardsboardsismostaccurate?Accountingstandardsboardsshould:A.concedetopoliticalpressures.B.beguidedbyawellarticulatedframework.C.beadequatelyfundedbycompaniestowhichthestandardsapply.5.AcoreobjectiveoftheInternationalOrganizationofSecuritiesCommissionsisto:A.eliminatesystematicrisk.B.protectusersoffinancialstatements.C.ensurethatmarketsarefair,efficientandtransparent.6.AccordingtotheConceptualFrameworkforFinancialReporting(2010),whichofthefollowingisnotanenhancingqualitativecharacteristicofinformationifinancialstatements?A.Accuracy.BTimeliness.C.Comparability.7.WhichofthefollowingisnotaconstraintonthefinancialstatementsaccordingtotheConceptualFramework(2010)?A.Understandability.B.Benefitversuscost.C.Balancingof'qualitativecharacteristics.8.Theassumptionthatanentitywillcontinuetooperatefortheforeseeablefutureiscalled:A.accrualbasis.B.comparability.C.goingconcern.9.Theassumptionthattheeffectsoftransactionsandothereventsarerecognizedwhentheyoccur,notwhenthecashflowsoccur.iscalled:A.relevance.B.accrualbasis.C.goingconcern.10.Neutralityofinformationinthefinancialstatementsmostcloselycontributestowhichqualitativecharacteristic?A.Relevance.B.Understandability.C.Faithfulrepresentation.11.Valuingassetsattheamountofcashorequivalentspaidorthefairvalueoftheconsiderationgiventoacquirethematthetimeofacquisitionmostcloselydescribeswhichmeasurementoffinancialstatementelements?A.Currentcost.B.Historicalcost.C.Realizablevalue.12.Thevaluationtechniqueunderwhichassetsarerecordedattheamountthatwouldbereceivedinanorderlydisposalis:A.currentcost.B.presentvalue.C.realizablevalue.13.WhichofthefollowingisnotarequiredfinancialstatementaccordingtoIASNo.1?A.Statementoffinancialposition.B.Statementofchangesinincome.C.Statementofcomprehensiveincome.14.Whichofthefollowingelementsoffinancialstatementsismostcloselyrelatedtomeasurementofperformance?A.Assets.B.Expenses.C.Liabilities.15.Whichofthefollowingelementsoffinancialstatementsismostcloselyrelatedtomeasurementoffinancialposition?A.Equity.B.Income.C.Expenses.16.Whichofthefollowingisnotacharacteristicofacoherentfinancialreportingframework?A.Timeliness.B.Consistency.C.Transparency.17.Whichofthefollowingisnotarecognizedapproachtostandard-setting?A.Arules-basedapproach.B.Anasset/liabilityapproach.C.Aprinciples-basedapproach.18.Whichofthefollowingdisclosuresregardingnewaccountingstandardsprovidesthemostmeaningfulinformationtoananalyst?A.Theimpactofadoptionisdiscussed.B.Thestandardwillhavenomaterialimpact.C.Managementisstillevaluatingtheimpact.Reading24.FinancialReportingStandards试题答案整理SolutionsCiscorrect.Financialstatementsprovideinformation,includinginformationabouttheentity'sfinancialposition,performance,andchangesinfinancialposition,tousers.Theydonottypicallyprovideinformationaboutusers.2.Biscorrect.TheIASBiscurrentlychargedwithdevelopingInternationalFinancialReportingStandards.3.Biscorrect.TheFASBisresponsiblefortheAccountingStandardsCodificationthesinglesourceofnongovernmentalauthoritativeU.S.generallyacceptedaccountingprinciples.4.Biscorrect.Accountingstandardsboardsshouldbeguidedbyawellarticulatedframework.Theyshouldbeindependent;andwhiletheyconsiderinputfromstakeholders,theprocessshouldnotbecompromisedbypressurefromexternalforces,includingpoliticalpressure.Accountingstandardsboardsshouldhaveadequateresources.5.Ciscorrect.AcoreobjectiveofIOSCOistoensurethatmarketsarefair,efficient,andtransparent.Theothercoreobjectivesaretoreduce,noteliminate,systematicriskandtoprotectinvestors,notallusersoffinancialstatements.6.Aiscorrect.Accuracyisnotanenhancingqualitativecharacteristic.Faithfulrepresentation,notaccuracyisafundamentalqualitativecharacteristic.7.Aiscorrect.Understandabilityisanenhancingqualitativecharacteristicoffinancialinformation-notaconstraint.8.Ciscorrect.TheConceptualFramework(2010)identifiestwoimportantunderlyingassumptionsoffinancialstatements:accrualbasisandgoingconcern.Goingconcernistheassumptionthattheentitywillcontinuetooperatefortheforeseeablefuture.Enterpriseswiththeintenttoliquidateormateriallycurtailoperationswouldrequiredifferentinformationforafairpresentation.9.Biscorrect.Accrualbasisreflectstheeffectsoftransactionsandothereventsbeingrecognizedwhentheyoccur,notwhenthecashflows.Theseeffectsarerecordedandreportedinthefinancialstatementsoftheperiodstowhichtheyrelate.10.Ciscorrect.Thefundamentalqualitativecharacteristicoffaithfulrepresentationiscontributedtobycompleteness,neutrality,andfreedomfromerror.11.Biscorrect.Historicalcostismeconsiderationpaidtoacquireanasset.12.Ciscorrect.Theamountthatwouldbereceivedinanorderlydisposalisrealizablevalue.13.Biscorrect.Thereisnostatementofchangesinincome.UnderIASNo.1,acompletesetoffinancialstatementsincludesastatementoffinancialposition,astatementofcomprehensiveincome,astatementofchangesinequity,astatementofcashflows,andnotescomprisingasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.14.Biscorrect.Theelementsoffinancialstatementsrelatedtothemeasureofperformanceareincomeandexpenses.15.Aiscorrect.Theelementsoffinancialstatementsrelatedtothemeasurementoffinancialpositionareassets,liabilities,andequity.16.Aiscorrect.Timelinessisnotacharacteristicofacoherentfinancialreportingframework.Consistency.transparency,andcomprehensivenessarecharacteristicsofacoherentfinancialreportingframework.17.Biscorrect.Rules-based,principles-based,andobjectives-orientedapproachesarerecognizedapproachestostandard-setting.iscorrect.Adiscussionoftheimpactwouldbethemostmeaningful,althoughBwouldalsobeuseful.StudySession8FinancialReportingandAnalysisReading25.UnderstandingIncomeStatements试题整理PRACTICEPROBLEMS1.Expensesontheincomestatementmaybegroupedby:A.nature,butnotbyfunction.B.function,butnotbynature.C.eitherfunctionornature.2.Anexampleofanexpenseclassificationbyfunctionis:A.taxexpense.B.interestexpense.C.costofgoodssold.3.DenaliLimited,amanufacturingcompany,hadthefollowingincomestatementinformation:Revenue$4,000,000Costofgoodssold$3.000,000Otheroperatingexpenses$500,000Interestexpense$100,000Taxexpense$120,000Denali'sgrossprofitisequaltoA.$280,000.B.$500,000.C.$l,000,000.4.UnderIFRS,incomeincludesincreasesineconomicbenefitsfrom:A.increasesinliabilitiesnotrelatedtoowners'contributions.B.enhancementsofassetsnotrelatedtoowners'contributions.C.increasesinowners'equityrelatedtoowners'contributions.5.Fairplayhadthefollowinginformationrelatedtothesaleofitsproductsduring2009,whichwasitsfirstyearofbusiness:Revenue$1,000,000Returnsofgoodssold$100,000Cashcollected$800,000Costofgoodssold$700,000Undertheaccrualbasisofaccounting,howmuchnetrevenuewouldbereportedonFairplay's2009incomestatement?A.$200,000.B.$900,000.C.$1,000,000.6.Iftheoutcomeofalong-termcontractcanbemeasuredreliably.thepreferredaccountingmethodunderbothIFRSandU.S.GAAPis:A.thecostrecoverymethod.B.thecompletedcontractmethod.C.thepercentage-of-completionmethod.7.Atthebeginningof2009,FloridaRoadConstructionenteredintoacontracttobuildaroadforthegovernment.Constructionwilltakefouryears.Thefollowinginformationasof31December2009isavailableforthecontract:Totalrevenueaccordingtocontract$10,000,000Totalexpectedcost$8,000,000Costincurredduring2009$1,200,000Assumethatthecompanyestimatespercentagecompletebasedoncostsincurredasapercentageoftotalestimatedcosts.Underthecompletedcontractmethod,howmuchrevenuewillbereportedin2009?A.None.B.$300,000.C.$1.500,000.8.During2009,ArgoCompanysold10acresofprimecommercialzonedlandtoabuilderfor$5,000,000.ThebuildergaveArgoa$l,000,000downpaymentandwillpaytheremainingbalanceof$4000,000toArgoin2010.Argopurchasedthelandin2002for$2,000,000.Usingtheinstallmentmethod,howmuchprofitwillArgoreportfor2009?A.$600,000.B.$l,000,000.C.$3,000,000.9.UsingthesameinformationasinQuestion8,howmuchprofitwillArgoreportfor2009usingthecostrecoverymethod?A.None.B.$600,000.C.$1,000,000.10.UnderIFRS.revenuefrombartertransactionsshouldbemeasuredbasedonthefairvalueofrevenuefrom:A.similarbartertransactionswithunrelatedparties.B.similarnon-bartertransactionswithrelatedparties.C.similarnon-bartertransactionswithunrelatedparties.11.ApexConsignmentsellsitemsovertheinternetforindividualsonaconsignmentbasis.Apexreceivestheitemsfromtheowner,liststhemforsaleontheinternet,andreceivesa25percentcommissionforanyitemssold.Apexcollectsthefullamountfromthebuyerandpaysthenetamountaftercommissiontotheowner.Unsolditemsarereturnedtotheownerafter90days.During2009,Apexhadthefollowinginformation;●Totalsalespriceofitemssoldduring2009onconsignmentwas€2,000,000.●TotalcommissionsretainedbyApexduring2009fortheseitemswas€500,000.HowmuchrevenueshouldApexreportonits2009incomestatement?A.€500,000.B.€2,000,000.C.€1,500,000.12.During2009,AccentToysPlc.,whichbeganbusinessinOctoberofthatyear,purchased10,000unitsofatoyatacostof£10perunitinOctober.ThetoysoldwellinOctober.InanticipationofheavyDecembersales,Accentpurchased5,000additionalunitsinNovemberatacostof£11perunit.During2009,Accentsold12,000unitsatapriceof£15perunit.Underthefirstin.F