【MOOC】F3：財(cái)務(wù)會(huì)計(jì)-西安交通大學(xué) 中國(guó)大學(xué)慕課MOOC答案

【MOOC】F3：財(cái)務(wù)會(huì)計(jì)-西安交通大學(xué)中國(guó)大學(xué)慕課MOOC答案Theregulatoryframework1、【單選題】WhatistheroleoftheIASB？本題答案：【Formulateinternationalfinancialreportingstandards】Thequalitativecharacteristicsoffinancialinformation1、【單選題】Whichaccountingconceptshouldbeconsiderediftheownerofabusinesstakesgoodsfrominventoryforhisownpersonaluse?本題答案：【Thebusinessentityconcept】2、【單選題】Salesrevenueshouldberecognisedwhengoodsandserviceshavebeensupplied;costsareincurredwhengoodsandserviceshavebeenreceived.Whichaccountingconceptgovernstheabove?本題答案：【Theaccrualsconcept】3、【單選題】AccordingtothelASB'sConceptualFrameworkforFinancialReporting,whichTWOofthefollowingarepartoffaithfulrepresentation?1Itisneutral2Itisrelevant3Itispresentedfairly4Itisfreefrommaterialerror本題答案：【1and4】4、【單選題】Listedbelowaresomecommentsonaccountingconcepts.1Inachievingabalancebetweenconcepts,themostimportantconsiderationissatisfyingasfaraspossibletheeconomicdecision-makingneedsofusers.2Materialitymeansthatonlyitemshavingaphysicalexistencemayberecognisedasassets.3Thesubstanceoverformconventionmeansthatthelegalformofatransactionmustalwaysbeshowninfinancialstatements,evenifthisdiffersfromthecommercialeffect.Which,ifany,ofthesecommentsiscorrect,accordingtothelASB'sConceptualFrameworkforFinancialReporting?本題答案：【1only】5、【單選題】Which,ifany,ofthefollowingstatementsaboutaccountingconceptsandthecharacteristicsoffinancialinformationarecorrect?1Theconceptofsubstanceoverformmeansthatthelegalformofatransactionmustbereflectedinfinancialstatements,regardlessoftheeconomicsubstance.2Informationisnotmaterialifitsomissionormisstatementcouldinfluencetheeconomicdecisionsofuserstakenonthebasisofthefinancialstatements.3Itmaysometimesbenecessarytoexcludeinformationthatisrelevantandreliablefromfinancialstatementsbecauseitistoodifficultforsomeuserstounderstand.本題答案：【Noneofthesestatementsarecorrect】6、【單選題】WhichoneofthefollowingisnotaqualitativecharacteristicoffinancialinformationaccordingtotheConceptualFrameworkforFinancialReporting?本題答案：【Accruals】DoubleentrybookkeepingI1、【單選題】Theprofitearnedbyabusinessin20X7was$72,500.Theproprietorinjectednewcapitalof$8,000duringtheyearandwithdrewgoodsforhisprivateusewhichhadcost$2,200.Ifnetassetsatthebeginningof20X7were$101,700,whatweretheclosingnetassets?本題答案：【$180,000】2、【單選題】Asoletradertooksomegoodscosting$800fromInventoryforhisownuse.Thenormalsellingpriceofthegoodsis$1,600.Whichofthefollowingjournalentrieswouldcorrectlyrecordthis?本題答案：【DrCr$$Drawingsaccount800Purchasesaccount800】3、【單選題】Whichofthefollowingarebooksofprimeentry?1Salesdaybook2Cashbook3Journal4Purchaseledger本題答案：【1,2and3only】4、【單選題】TTallonhadthefollowingtransactions：1Saleofgoodsoncreditfor$150toFRogit2ReturnofgoodsfromBBlendiggoriginallysoldfor$300incashtoBBlendiggWhatarethecorrectledgerentriestorecordthesetransactions?本題答案：【DrReceivables$150DrSalesReturns$300CrSales$150CrCash$300】5、【單選題】Howisthetotalofthepurchasesdaybookpostedtothenominalledger?本題答案：【Debitpurchases,Creditpayablescontrol】DoubleentrybookkeepingII1、【單選題】ThefollowingtotalsappearinthedaybooksforMarch20X8.$Salesdaybook40,000Purchasesdaybook20,000Returnsinwardsdaybook2,000Returnsoutwarddaybook4,000Openingandclosinginventoriesareboth$3,000.WhatisthegrossprofitforMarch20X8?本題答案：【$22,000】2、【單選題】Thefollowinginformationisrelevantforquestions2and3.On1May20X9Marshall'scashbookshowedacashbalanceof$224andanoverdraftof$336.Duringtheweekended6Maythefollowingtransactionstookplace.May1Sold$160ofgoodstoPDixononcredit.May1Withdrew$50ofcashfromthebankforbusinessuse.May2PurchasedgoodsfromAClarkeoncreditfor$380less15%tradediscount.May2Repaidadebtof$120owingtoRHill,takingadvantageofa10%cashdiscount.Thepaymentwasbycheque.May3Sold$45ofgoodsforcash.May4Sold$80ofgoodstoMMaguireoncredit,offeringa12.5%discountifpaymentmadewithin7days.May4Paidatelephonebillof$210bycheque.May4Purchased$400ofgoodsoncreditfromDDaley.May5ReceivedachequefromHLarkinfor$180.Larkinhastakenadvantageofa$20cashdiscountofferedtohim.May5Sold$304ofgoodstoMDonaldoncredit.May5Purchased$135ofgoodsfromHonourCobycheque.May6ReceivedachequefromDRandlefor$482.May6Purchased$100ofgoodsoncreditfromGPerkins.Whatisthetotalofthesalesdaybook?本題答案：【$544】3、【單選題】Thefollowinginformationisrelevantforquestions2and3.On1May20X9Marshall'scashbookshowedacashbalanceof$224andanoverdraftof$336.Duringtheweekended6Maythefollowingtransactionstookplace.May1Sold$160ofgoodstoPDixononcredit.May1Withdrew$50ofcashfromthebankforbusinessuse.May2PurchasedgoodsfromAClarkeoncreditfor$380less15%tradediscount.May2Repaidadebtof$120owingtoRHill,takingadvantageofa10%cashdiscount.Thepaymentwasbycheque.May3Sold$45ofgoodsforcash.May4Sold$80ofgoodstoMMaguireoncredit,offeringa12.5%discountifpaymentmadewithin7days.May4Paidatelephonebillof$210bycheque.May4Purchased$400ofgoodsoncreditfromDDaley.May5ReceivedachequefromHLarkinfor$180.Larkinhastakenadvantageofa$20cashdiscountofferedtohim.May5Sold$304ofgoodstoMDonaldoncredit.May5Purchased$135ofgoodsfromHonourCobycheque.May6ReceivedachequefromDRandlefor$482.May6Purchased$100ofgoodsoncreditfromGPerkins.Whatisthetotalofthepurchasesdaybook?本題答案：【$823】4、【單選題】Arethefollowingstatementsaboutdebitentriestrueorfalse?1Adebitentryinthecashbookwillincreaseanoverdraftintheaccounts.2Adebitentryinthecashbookwillincreaseabankbalanceintheaccounts.本題答案：【1falseand2true】5、【單選題】Atrialbalanceismadeupofalistofdebitbalancesandcreditbalances.Whichofthefollowingstatementsiscorrect?本題答案：【Assetsarerepresentedbydebitbalances.】6、【單選題】Berthasextractedthefollowinglistofbalancesfromhisgeneralledgerat31October20X5：$Sales258,542Openinginventory9,649Purchases142,958Expenses34,835Non-currentassets(carryingamount)63,960Receivables31,746Payables13,864Cashatbank1,783Capital12,525WhatisthetotalofthedebitbalancesinBert'strialbalanceat31October20X5?本題答案：【$284,931】Salestax1、【單選題】Wisregisteredforsalestax.Themanagingdirectorhasaskedfourstaffintheaccountsdepartmentwhytheoutputtaxforthelastquarterdoesnotequal20%ofsales(20%istherateoftax).Whichoneofthefollowingfourrepliesshereceivedwasnotcorrect?本題答案：【Thecompanysoldsomeproductstobusinessesnotregisteredforsalestax.】2、【單選題】Alanaisnotregisteredforsalestaxpurposes.Shehasrecentlyreceivedaninvoiceforgoodsforresalewhichcost$500beforesalestax,whichisleviedat15%.Thetotalvaluewastherefore$575.WhatisthecorrectentrytobemadeinAlana'sgeneralledgerinrespectoftheinvoice?本題答案：【DrPurchases$575,CrPayables$575】3、【單選題】Abusinesscommencedwithcapitalincashof$1,000.Inventorycosting$800plussalestaxispurchasedoncredit,andhalfissoldfor$1,000plussalestax,thecustomerpayingincashatonce.Thesalestaxrateis20%.Whatwouldtheaccountingequationafterthesetransactionsshow?本題答案：【Assets$2,600lessLiabilities$1,000equalsCapital$1,600】4、【單選題】ThefollowinginformationrelatestoEvaCo'ssalestaxforthemonthofMarch20X3：$Sales(includingsalestax)109,250Purchases(netofsalestax)64,000Salestaxischargedataflatrateof15%.EvaCo'ssalestaxaccountshowedanopeningcreditbalanceof$4,540atthebeginningofthemonthandaclosingdebitbalanceof$2,720attheendofthemonth.WhatwasthetotalsalestaxpaidtoregulatoryauthoritiesduringthemonthofMarch20X3?本題答案：【$11,910.00】Inventory1、【單選題】TheinventoryvalueforthefinancialstatementsofGlobalIncfortheyearended30June20X3wasbasedonainventorycounton7July20X3,whichgaveatotalinventoryvalueof$950,000.Between30Juneand7July20X6,thefollowingtransactionstookplace.$Purchaseofgoods11,750Saleofgoods(markuponcostat15%)14,950GoodsreturnedbyGlobalInctosupplier1,500Whatfigureshouldbeincludedinthefinancialstatementsforinventoriesat30June20X3?本題答案：【$952,750】2、【單選題】Theclosinginventoryatcostofacompanyat31January20X3amountedto$284,700.Thefollowingitemswereincludedatcostinthetotal:1400coats,whichhadcost$80eachandnormallysoldfor$150each.Owingtoadefectinmanufacture,theywereallsoldafterthereportingdateat50%oftheirnormalprice.Sellingexpensesamountedto5%oftheproceeds.2800skirts,whichhadcost$20each.Thesetoowerefoundtobedefective.RemedialworkinFebruary20X3cost$5perskirt,andsellingexpensesforthebatchtotalled$800.Theyweresoldfor$28each.WhatshouldtheinventoryvaluebeaccordingtoIAS2Inventoriesafterconsideringtheaboveitems?本題答案：【$281,200】3、【單選題】Acompanyvaluesitsinventoryusingthefirstin,firstout(FIFO)method.At1May20X2thecompanyhad700enginesininventory,valuedat$190each.Duringtheyearended30April20X3thefollowingtransactionstookplace:20X21JulyPurchased500enginesat$220each1NovemberSold400enginesfor$160,00020X31FebruaryPurchased300enginesat$230each15AprilSold250enginesfor$125,000Whatisthevalueofthecompany'sclosinginventoryofenginesat30April20X3?本題答案：【$188,500】4、【單選題】Inpreparingitsfinancialstatementsforthecurrentyear,acompany'sclosinginventorywasunderstatedby$300,000.Whatwillbetheeffectofthiserrorifitremainsuncorrected?本題答案：【Thecurrentyear'sprofitwillbeunderstatedandnextyear'sprofitwillbeoverstated.】5、【單選題】AcompanyhasdecidedtoswitchfromusingtheFIFOmethodofinventoryvaluationtousingtheaveragecostmethod(AVCO).Inthefirstaccountingperiodwherethechangeismade,openinginventoryvaluedbytheFIFOmethodwas$53,200.ClosinginventoryvaluedbytheAVCOmethodwas$59,800.Totalpurchasesduringtheperiodwere$136,500.UsingtheAVCOmethod,openinginventorywouldhavebeenvaluedat$56,200.Whatisthecostofmaterialsthatshouldbeincludedinthestatementofprofitorlossfortheperiod?本題答案：【$132,900】6、【單選題】WhichoneofthefollowingstatementsabouttheuseofacontinuousinventorysystemisINCORRECT?本題答案：【Acontinuousinventorysystemremovestheneedforperiodicphysicalinventorycounts.】7、【單選題】WhichofthefollowingstatementsaboutIAS2Inventoriesiscorrect?本題答案：【Productionoverheadsshouldbeincludedincostonthebasisofacompany'snormallevelofactivityintheperiod.】Tangiblenon-currentassets1、【單選題】Whatisthepurposeofchargingdepreciationinaccounts?本題答案：【Toallocatethecostofanon-currentassetovertheaccountingperiodsexpectedtobenefitfromitsuse】2、【單選題】Anassetregistershowedacarryingvalueof$67,460.Anon-currentassetcosting$15,000hadbeensoldfor$4,000,makingalossondisposalof$1,250.Noentrieshadbeenmadeintheassetregisterforthisdisposal.Whatisthecorrectbalanceontheassetregister?本題答案：【$62,210】3、【單選題】Whichoneofthefollowingwouldoccurifthepurchaseofcomputerstationarywasdebitedtothecomputerequipmentatcostaccount?本題答案：【Anoverstatementofprofitandanoverstatementofnon-currentassets】4、【單選題】Acompany'spolicyistochargedepreciationonplantandmachineryat20%peryearoncost,withproportionaldepreciationforitemspurchasedorsoldduringayear.Thecompany'splantandmachineryatcostaccountfortheyearended30September20X3isshownbelow.PLANTANDMACHINERY-COST$$20X220X31OctBalance200,00030JunTransferdisposalaccount40,00030SepBalance210,00020X31AprCash-purchaseofplant50,000_______250,000250,000Whatshouldbethedepreciationchargeforplantandmachinery(excludinganyprofitorlossonthedisposal)fortheyearended30September20X3?本題答案：【$43,000】5、【單選題】Amanufacturingcompanyreceivesaninvoiceon29February20X2forworkdoneononeofitsmachines.$25,500ofthecostisactuallyforamachineupgrade,whichwillimproveefficiency.Theaccountsdepartmentdonotnoticeandchargethewholeamounttomaintenancecosts.Machineryisdepreciatedat25%perannumonastraight-linebasis,withaproportionalchargeintheyearsofacquisitionanddisposal.Bywhatamountwilltheprofitfortheyearto30June20X2beunderstated?本題答案：【$23,375】6、【單選題】Whatarethecorrectledgerentriestorecordanacquisitionofanon-currentassetoncredit?本題答案：【DebitCreditNon-currentassets-costPayables】7、【單選題】Whichofthefollowingstatementsarecorrect?1IAS16Property,plantandequipmentrequiresentitiestodisclosethepurchasedateofeachasset.2Thecarryingamountofanon-currentassetisthecostorvaluationofthatassetlessaccumulateddepreciation.3IAS16Property,planandequipmentpermitsentitiestomakeatransferfromtherevaluationsurplustoretainedearningsforexcessdepreciationonrevaluedassets.4Oncedecided,theusefullifeofanon-currentassetshouldnotbechanged.本題答案：【2and3only】8、【單選題】Bacquiredalorryon1May20X0atacostof$30,000.Thelorryhasanestimatedusefullifeoffouryears,andanestimatedresalevalueattheendofthattimeof$6,000.Bchargesdepreciationonthestraightlinebasis,withaproportionatechargeintheperiodofacquisition.WhatwillthedepreciationchargeforthelorrybeinB'saccountingperiodto30September20X0?本題答案：【$2,500】9、【單選題】At31December20X3Q,alimitedliabilitycompany,ownedabuildingthathadcost$800,000on1January20W4.Itwasbeingdepreciatedat2%peryear.On31December20X3arevaluationto$1,000,000wasrecognised.Atthisdatethebuildinghadaremainingusefullifeof40years.Whatisthebalanceontherevaluationsurplusat31December20X3andthedepreciationchargeinthestatementofprofitorlossfortheyearended31December20X4?DepreciationchargeforRevaluationsurplusyearended31December20X4asat31December20X3(statementofprofitorloss)(statementoffinancialposition)$$本題答案：【25,000360,000】10、【單選題】Whichoneofthefollowingcostswouldbeclassifiedasrevenueexpenditureontheinvoiceforanewcompanycar?本題答案：【Roadtax】11、【單選題】Acompanypurchasedanasseton1January20X3atacostof$1,000,000.Itisdepreciatedover50yearsbythestraightlinemethod(nilresidualvalue),withaproportionatechargefordepreciationintheyearofacquisitionandtheyearofdisposal.At31December20X4theassetwasre-valuedto$1,200,000.Therewasnochangeintheexpectedusefullifeoftheasset.Theassetwassoldon30June20X5for$1,195,000.Whatprofitorlossondisposaloftheassetwillbereportedinthestatementofprofitorlossofthecompanyfortheyearended31December20X5?本題答案：【Profitof$7,500】12、【單選題】Whichofthefollowingitemsshouldbeincludedincurrentassets?(i)Assetswhicharenotintendedtobeconvertedintocash(ii)Assetswhichwillbeconvertedintocashinthelongterm(iii)Assetswhichwillbeconvertedintocashinthenearfuture本題答案：【(iii)only】13、【單選題】Gammapurchasesamotorvehicleon30September20X1for$15,000oncredit.Gammahasapolicyofdepreciatingmotorvehiclesusingthereducingbalancemethodat15%perannum,prorataintheyearsofpurchaseandsale.Whatarethecorrectledgerentriestorecordthepurchaseofthevehicleat30September20X1andwhatisthedepreciationchargefortheyearended30November20X1?PurchaseofmotorDepreciationchargevehicleon30.9.X1foryearended30.11.X1本題答案：【DrNon-currentassets-cost$15,000$375CrPayables$15,000】Intangiblenon-currentassets1、【單選題】AccordingtoIAS38Intangibleassets,whichofthefollowingstatementsaboutresearchanddevelopmentexpenditurearecorrect?1Researchexpenditure,otherthancapitalexpenditureonresearchfacilities,shouldberecognisedasanexpenseasincurred.2Indecidingwhetherdevelopmentexpenditurequalifiestoberecognisedasanasset,itisnecessarytoconsiderwhethertherewillbeadequatefinanceavailabletocompletetheproject.3Developmentexpenditurerecognisedasanassetmustbeamortisedoveraperiodnotexceedingfiveyears.本題答案：【1and2only】2、【單選題】AccordingtoIAS38Intangibleassets,whichofthefollowingareintangiblenon-currentassetsintheaccountsoflotaCo?1Apatentforanewgluepurchasedfor$20,000bylotaCo2DevelopmentcostscapitalisedinaccordancewithIAS383Alicencetobroadcastatelevisionseries,purchasedbylotaCofor$150,0004AstateoftheartfactorypurchasedbylotaCofor$1.5million本題答案：【1,2and3only】3、【單選題】Thefollowinginformationisrelevantforquestions3and4.ThefollowingbalancesexistedintheaccountingrecordsofKoppaCo,at31December20X7.$'000Developmentcostscapitalised,1January20X7180Researchanddevelopmentexpenditurefortheyear162Inpreparingthecompany'sstatementofprofitorlossandothercomprehensiveincomeandstatementoffinancialpositionat31December20X7thefollowingfurtherinformationisrelevant.(a)The$180,000totalfordevelopmentcostsasat1January20X7relatestotwoprojects:$'000Project836:completedproject82(balancebeingamortisedovertheperiodexpectedtobenefitfromit.Amounttobeamortisedin20X7:$20,000)Project910:inprogress98180(b)Theresearchanddevelopmentexpenditurefortheyearismadeupof:$'000Researchexpenditure103DevelopmentcostsonProject910whichcontinuestosatisfytherequirementsinIAS38forcapitalisation59162AccordingtoIAS38Intangibleassets,whatamountshouldbechargedinthestatementofprofitorlossandothercomprehensiveincomeforresearchanddevelopmentcostsfortheyearended31December20X7?本題答案：【$123,000】4、【單選題】Thefollowinginformationisrelevantforquestions3and4.ThefollowingbalancesexistedintheaccountingrecordsofKoppaCo,at31December20X7.$'000Developmentcostscapitalised,1January20X7180Researchanddevelopmentexpenditurefortheyear162Inpreparingthecompany'sstatementofprofitorlossandothercomprehensiveincomeandstatementoffinancialpositionat31December20X7thefollowingfurtherinformationisrelevant.(a)The$180,000totalfordevelopmentcostsasatIJanuary20X7relatestotwoprojects:$'000Project836:completedproject82(balancebeingamortisedovertheperiodexpectedtobenefitfromit.Amounttobeamortisedin20X7:$20,000)Project910:inprogress98180(b)Theresearchanddevelopmentexpenditurefortheyearismadeupof:$'000Researchexpenditure103DevelopmentcostsonProject910whichcontinuestosatisfytherequirementsinIAS38forcapitalisation59162AccordingtoIAS38Intangibleassets,whatamountshouldbedisclosedasanintangibleassetinthestatementoffinancialpositionfortheyearended31December20X7?本題答案：【$219,000】Accrualsandprepayments1、【單選題】Buster'sdraftaccountsfortheyearto31October20X5reportalossof$1,486.Whenhepreparedtheaccounts,Busterdidnotincludeanaccrualof$1,625andaprepaymentof$834.WhatisBuster'sprofitorlossfortheyearto31October20X5followingtheinclusionoftheaccrualandprepayment?本題答案：【Alossof$2,277】2、【單選題】Acompanyreceivesrentforsublettingpartofitsofficeblock.Rent,receivablequarterlyinadvance,isreceivedasfollows：DateofreceiptPeriodcovered$1October20X13monthsto31December20X17,50030December20X13monthsto31March20X27,5004April20X23monthsto30June20X29,0001July20X23monthsto30September20X29,0001October20X23monthsto31December20X29,000Whatfigures,basedonthesereceipts,shouldappearinthecompany'sfinancialstatementsfortheyearended30November20X2?本題答案：【StatementofprofitorlossStatementoffinancialposition$34,000CreditRentreceivedinadvance(Cr)$3,000】3、【單選題】TheyearendofMIncis30November20X0.Thecompanypaysforitsgasbyastandingorderof$600permonth.On1December20W9,thestatementfromthegassuppliershowedthatMInchadoverpaidby$200.MIncreceivedgasbillsforthefourquarterscommencingon1December20W9andendingon30November20X0for$1,300,$1,400,$2,100and$2,000respectively.WhichofthefollowingisthecorrectchargeforgasinMInc'sstatementofprofitorlossfortheyearended30November20X0?本題答案：【$6,800】4、【單選題】Abusinesscompilingitsaccountsfortheyearto31Januaryeachyearpaysrentquarterlyinadvanceon1January,1April,1Julyand1Octobereachyear.Afterremainingunchangedforsomeyears,therentwasincreasedfrom$24,000peryearto$30,000peryearasfrom1July20X0.Whichofthefollowingfiguresistherentexpensewhichshouldappearinthestatementofprofitorlossforyearended31January20X1?本題答案：【$27,500】5、【單選題】B,alimitedliabilitycompany,receivesrentforsublettingpartofitsofficepremisestoanumberoftenants.Intheyearended31December20X4Breceivedcashof$318,600fromitstenants.Detailsofrentinadvanceandinarrearsatthebeginningandendof20X4areasfollows：31December20X420X3$$Rentreceivedinadvance28,40024,600Rentowingbytenants18,30016,900AllrentowingwassubsequentlyreceivedWhatfigureforrentalincomeshouldbeincludedinthestatementofprofitorlossofBfor20X4?本題答案：【$316,200】6、【單選題】Whatarethecorrectledgerentriestorecordanaccrualintheaccounts?本題答案：【DrExpensesCrLiability】Receivablesandpayables1、【單選題】At31December20X2acompany'sreceivablestotalled$400,000andanallowanceforreceivablesof$50,000hadbeenbroughtforwardfromtheyearended31December20X1.Itwasdecidedtowriteoffdebtstotalling$38,000andtoadjusttheallowanceforreceivablesto10%ofthereceivables.Whatchargeforreceivablesexpenseshouldappearinthecompany'sstatementofprofitorlossfortheyearended31December20X2?本題答案：【$24,200】2、【單選題】At30September20X2acompany'sallowanceforreceivablesamountedto$38,000,whichwasfivepercentofthereceivablesatthatdate.At30September20X3receivablestotalled$868,500.Itwasdecidedtowriteoff$28,500ofdebtsasirrecoverableandtokeeptheallowanceforreceivablesatfivepercentofreceivables.Whatshouldbethechargeinthestatementofprofitorlossfortheyearended30September20X3forreceivablesexpense?本題答案：【$32,500】3、【單選題】Acompanyhasreceivedcashforadebtthatwaspreviouslywrittenoff.Whichofthefollowingisthecorrectdoubleentrytorecordthecashreceived?本題答案：【DebitCreditCashIrrecoverabledebtsexpense】4、【單選題】Atthebeginningoftheyear,theallowanceforreceivableswas$850.Attheyear-end,theallowancerequiredwas$1,000.Duringtheyear$500ofdebtswerewrittenoff,whichincludes$100previouslyincludedintheallowanceforreceivables.Whatisthechargetostatementofprofitorlossforreceivablesexpensefortheyear?本題答案：【$650】5、【單選題】Whichofthefollowingstatementsarecorrect?1Anagedreceivablesanalysisshowshowlonginvoicesforeachcustomerhavebeenoutstanding.2Acreditlimitisatoolappliedbythecreditcontroldepartmenttomakesuppliersprovidegoodsontime.3Receivablesareincludedinthestatementoffinancialpositionnetofthereceivablesallowance.4Creditlimitsareappliedtocustomerswhopurchasegoodsusingcashonly.本題答案：【1and3】6、【單選題】At1November20X5,SanjayMotorsisowed$20,000byJacksonforservicingandrepairworkcarriedoutonJackson'sfleetofmotorvehicles.Ofthe$20,000outstanding,$3,500relatestoworkthatJacksonfeelswassub-standard.Despitediscussionsandnegotiation,andalthoughJacksonisgenerallya'goodcustomer',SanjayisdoubtfulthatJacksonwilleverpaythis$3,500.WhatallowanceforreceivablesshouldSanjayMotorsmaketoaccountforthisdoubtfuldebt?本題答案：【Aspecificallowanceof$3,500】7、【單選題】Attheendofitsfirsttradingperiodaftercommencingbusiness,KhanCohasareceivablesbalanceof$500,000.Itwishestoprovideaspecificallowanceonadebtof$10,000.(Thecustomerthatowesthis$10,000isinseverefinancialdifficulty,itisunlikelyanyofthis$10,000willberecovered).KhanCoalsowishestosetupageneralallowanceof2%.Whatisthechargetothestatementofprofitorloss?本題答案：【$19,800】Provisionsandcontingencies1、【單選題】Whichofthefollowingstatementsaboutcontingentassetsandcontingentliabilitiesarecorrect?1Acontingentassetshouldbedisclosedbynoteifaninflowofeconomicbenefitsisprobable.2Acontingentliabilityshouldbedisclosedbynoteifitisprobablethatatransferofeconomicbenefitstosettleitwillberequired,withnoprovisionbeingmade.3Nodisclosureisrequiredforacontingentliabilityifitisnotprobablethatatransferofeconomicbenefitstosettleitwillberequired.4Nodisclosureisrequiredforeitheracontingentliabilityoracontingentassetifthelikelihoodofapaymentorreceiptisremote.本題答案：【1and4only】2、【單選題】WandaCoallowscustomerstoreturnfaultygoodswithin14daysofpurchase.At30November20X5aprovisionof$6,548wasmadeforsalesreturns.At30November20X6,theprovisionwasre-calculatedandshouldnowbe$7,634.WhatshouldbereportedinWandaCo'sstatementofprofitorlossfortheyearto31October20X6inrespectoftheprovision?本題答案：【Achargeof$1,086】3、【單選題】WhichofthefollowingbestdescribesaprovisionaccordingtoIAS37Provisions,contingentliabilitiesandcontingentassets?本題答案：【Aprovisionisaliabilityofuncertaintimingoramount.】4、【單選題】Montague’spaintshophassufferedsomebadpublicityasaresultofacustomerclaimingtobesufferingfromskinrashesasaresultofusinganewbrandofpaintsoldbyMontague'sshop.ThecustomerlaunchedacourtactionagainstMontagueinNovember20X3,claimingdamagesof$5,000.Montague'slawyerhasadvisedhimthatthemostprobableoutcomeisthathewillhavetopaythecustomer$3,000.WhatamountshouldMontagueincludeasaprovisioninhisaccountsfortheyearended31December20X3?本題答案：【$3,000】5、【單選題】Whichoft