Financial statements represent transactions in words and numbers. To be useful, financial information must represent faithfully these transactions in terms of how they are reported.
Which of the following accounting treatments would be an example of faithful representation？
A、Charging the rental payments for an item of plant to the statement of profit or loss where the rental agreement meets the criteria for a lease
B、Including a convertible loan note in equity on the basis that the holders are likely to choose the equity option on conversion
C、Treating redeemable preference shares as part of equity in the statement of financial position
D、Derecognising factored trade receivables sold without recourse to the seller
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更多“Financial statements rep…”相关的问题

第1题

Consolidated financial statements are presented on the basis that the companies within the group are treated as if they are a single economic entity.
Which of the following are requirements of preparing consolidated financial statements？
(1)All subsidiaries must adopt the accounting policies of the parent in their individual financial statements
(2)Subsidiaries with activities which are substantially different to the activities of other members of the group should not be consolidated
(3)All entity financial statements within a group should normally be prepared to the same accounting year end prior to consolidation
(4)Unrealised profits within the group must be eliminated from the consolidated financial statements
A、(1)and (3)
B、(2)and (4)
C、(3)and (4)
D、(1)and (2)

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第2题

An unqualified opinion would entail that the company's financial statements have some deviation from Generally Accepted Accounting Principles （GAAPs).（)

是

否

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第3题

Which of the following statements is true of nominal damages？（)

A、They are also known as compensatory damages

B、Only damages above $1,000 can qualify as nominal damages

C、Most courts favor nominal damages lawsuits

D、They are awarded even when a breach did not result in financial loss

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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、They are difficult to verify because transactions could have happened many years ago
B、They contain mixed values; some items are at current values and some are at out of date values
C、They understate assets and overstate profit
D、They overstate gearing in the statement of financial position

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第6题

Which of the following is NOT a responsibility of the auditor？A.To provide an opinion on t
Which of the following is NOT a responsibility of the auditor？
A.To provide an opinion on the truth and fairness of the financial statements
B.To conduct an audit in accordance with International Standards on Auditing
C.To express an opinion on the company’s going concern status

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第7题

An annual report of a company provides information about its business performance for certain people. These people include the investors, potential investors and other stakeholders. From the report, people can understand the company’s business scope, recent situation and future development. The main parts of an annual report usually include chairman’s letter, financial statements and operation analysis.

● Chairman’s Letter

Usually, an annual report should contain a letter from the chairman. The letter should provide details about the successes and the challenges of the past year. It should also include the future outlook for the company.

● Operation Analysis

The operation analysis is an overview of the business in the past year. It usually includes new hires and new product introductions. At the same time, it will introduce business acquisitions and other important issues.

● Financial Statements

The financial statements are very important for an annual report. People can know the company’s performance in the past from the statements. It usually consists of the following three aspects. The first one is the profit and loss statement. The second one is the balance sheet. And the third one is the cash flow statement.

1. An annual report of a company provides some information about its business performance for certain people. ()

2. People can know everything of the company from the annual report. ()

3. An annual report usually includes chairman’s letter, financial statements and operation analysis. ()

4. A chairman’s letter should include the strategic direction moving forward. ()

5. This passage is mainly about the main parts of an annual report. ()

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第8题

Which of the following statements regarding the financial statement reporting of leases is most accurate？
A.Under an operating lease, the lease treats the entire lease payment as a cash outflow from operations.
B.The lessee’s current ratio is the same whether a lease is treated as an operating or finance lease.
C.At the inception of a direct financing lease, the lessor recognizes gross profit.

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第9题

Patula Co acquired 80% of Sanka Co on 1 October 20X5. At this date, some of Sanka Co’s inventory had a carrying amount of $600,000 but a fair value of $800,000. By 31 December 20X5, 70% of this inventory had been sold by Sanka Co.
The individual statements of financial position at 31 December 20X5 for both companies show the following:
Patula Co acquired 80% of Sanka Co on 1 October 20

What will be the total inventories figure in the consolidated statement of financial position of Patula Co as at 31 December 20X5？
A.$5,250,000
B.$5,330,000
C.$5,130,000
D.$5,238,000

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第10题

When a parent is evaluating the assets of a potential subsidiary, certain intangible assets can be recognised separately from goodwill, even though they have not been recognised in the subsidiary’s own statement of financial position.
Which of the following is an example of an intangible asset of the subsidiary which may be recognised separately from goodwill when preparing consolidated financial statements？
A、A new research project which the subsidiary has correctly expensed to profit or loss but the directors of the parent have reliably assessed to have a substantial fair value
B、A global advertising campaign which was concluded in the previous financial year and from which benefits are expected to flow in the future
C、A contingent asset of the subsidiary from which the parent believes a flow of future economic benefits is possible
D、A customer list which the directors are unable to value reliably

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