17 Which of the following statements are correct?(1) All non-current assets must be depreciated.(2) If goodwill is revalued, the revaluation surplus appears in the statement of changes in equity.(3) If a tangible non-current asset is revalued, all tangibl
题目
17 Which of the following statements are correct?
(1) All non-current assets must be depreciated.
(2) If goodwill is revalued, the revaluation surplus appears in the statement of changes in equity.
(3) If a tangible non-current asset is revalued, all tangible assets of the same class should be revalued.
(4) In a company’s published balance sheet, tangible assets and intangible assets must be shown separately.
A 1 and 2
B 2 and 3
C 3 and 4
D 1 and 4
相似考题
更多“17 Which of the following statements are correct?(1) All non-current assets must be depreciated.(2) If goodwill is revalued, the revaluation surplus appears in the statement of changes in equity.(3) If a tangible non-current asset is revalued, all tangibl”相关问题
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第1题：
16 Which of the following events between the balance sheet date and the date the financial statements are
authorised for issue must be adjusted in the financial statements?
1 Declaration of equity dividends.
2 Decline in market value of investments.
3 The announcement of changes in tax rates.
4 The announcement of a major restructuring.
A 1
A 1 only
B 2 and 4
C 3 only
D None of them
正确答案：D
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第2题：
20 IAS 2 Inventories defines the extent to which overheads are included in the cost of inventories of finished goods.
Which of the following statements about the IAS 2 requirements in this area are correct?
1 Finished goods inventories may be valued on the basis of labour and materials cost only, without including overheads.
2 Carriage inwards, but not carriage outwards, should be included in overheads when valuing inventories of finished goods.
3 Factory management costs should be included in fixed overheads allocated to inventories of finished goods.
A All three statements are correct
B 1 and 2 only
C 1 and 3 only
D 2 and 3 only
正确答案：D
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第3题：
(b) (i) Discuss the main factors that should be taken into account when determining how to treat gains and
losses arising on tangible non-current assets in a single statement of financial performance. (8 marks)
正确答案：
(b) (i) Currently there are many rules on how gains and losses on tangible non current assets should be reported and these
have traditionally varied from country to country. The main issues revolve around the reporting of depreciation,
disposal/revaluation gains and losses, and impairment losses. The reporting of such elements should take into account
whether the tangible non current assets have been revalued or held at historical cost. The problem facing standard
setters is where to report such gains and losses.The question is whether they should be reported as part of operating
activities or as ‘other gains and losses’.
Holding gains arising on the sale of tangible non current assets could be reported separately from operating results so
that the latter is not obscured by an asset realisation that reflects more a change in market prices than any increase in
the operating activity of the entity. Other changes in the carrying amounts of tangible non current assets will be reported
as part of the operating results. For example, the depreciation charge tries to reflect the consumption of the asset by the
entity and as such is not a holding loss. There may be cases where the depreciation charge does not reflect the
consumption of economic benefits. For example, the pattern and rate of depreciation could have been misjudged
because the asset’s useful life has been assessed incorrectly. In this case, when an asset is sold any excess or shortfall
of depreciation may need to be dealt with in the operating result.
Impairment is another factor to consider in reporting gains and losses on tangible non current assets. Impairment is
effectively accelerated depreciation. Impairment arises when the carrying amount of the asset is above its recoverable
amount. It follows therefore that any impairment loss should be reported as part of the operating result. Any losses on
disposal, to the extent that they represent impairment, could therefore be reported as part of the operating results. Any
losses which represent holding losses could be reported in ‘other gains and losses’. The difficulty will be differentiating
between holding losses and impairment losses. There will have to be clear and concise definitions of these terms or it
could lead to abuse by companies in their quest to maximise operating profits.
A distinction should be made between gains and losses arising on tangible non current assets as a result of revaluations
and those arising on disposal. The nature of the gain or loss is essentially the same although the timing and certainty
of the gain/loss is different. Therefore revaluation gains/losses may be reported in the ‘other gains and losses’ section.
Where an asset has been revalued, any loss on disposal that represents an impairment would be charged to operating
results and any remaining loss reported in ‘other gains and losses’.
Essentially, gains and losses should be reported on the basis of the characteristics of the gains and losses themselves.
Gains and losses with similar characteristics should be reported together thus helping the comparability of financial
performance nationally and internationally. -
第4题：
9 Which of the following items must be disclosed in a company’s published financial statements (including notes)
if material, according to IAS1 Presentation of financial statements?
1 Finance costs.
2 Staff costs.
3 Depreciation and amortisation expense.
4 Movements on share capital.
A 1 and 3 only
B 1, 2 and 4 only
C 2, 3 and 4 only
D All four items
正确答案：D
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第5题：
19 Which of the following statements about intangible assets in company financial statements are correct according
to international accounting standards?
1 Internally generated goodwill should not be capitalised.
2 Purchased goodwill should normally be amortised through the income statement.
3 Development expenditure must be capitalised if certain conditions are met.
A 1 and 3 only
B 1 and 2 only
C 2 and 3 only
D All three statements are correct
正确答案：A
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第6题：
22 Which of the following statements about limited liability companies’ accounting is/are correct?
1 A revaluation reserve arises when a non-current asset is sold at a profit.
2 The authorised share capital of a company is the maximum nominal value of shares and loan notes the company
may issue.
3 The notes to the financial statements must contain details of all adjusting events as defined in IAS10 Events after
the balance sheet date.
A All three statements
B 1 and 2 only
C 2 and 3 only
D None of the statements
正确答案：D
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第7题：
12 Which of the following statements are correct?
(1) Contingent assets are included as assets in financial statements if it is probable that they will arise.
(2) Contingent liabilities must be provided for in financial statements if it is probable that they will arise.
(3) Details of all adjusting events after the balance sheet date must be given in notes to the financial statements.
(4) Material non-adjusting events are disclosed by note in the financial statements.
A 1 and 2
B 2 and 4
C 3 and 4
D 1 and 3
正确答案：B
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第8题：
(b) Historically, all owned premises have been measured at cost depreciated over 10 to 50 years. The management
board has decided to revalue these premises for the year ended 30 September 2005. At the balance sheet date
two properties had been revalued by a total of $1·7 million. Another 15 properties have since been revalued by
$5·4 million and there remain a further three properties which are expected to be revalued during 2006. A
revaluation surplus of $7·1 million has been credited to equity. (7 marks)
Required:
For each of the above issues:
(i) comment on the matters that you should consider; and
(ii) state the audit evidence that you should expect to find,
in undertaking your review of the audit working papers and financial statements of Albreda Co for the year ended
30 September 2005.
NOTE: The mark allocation is shown against each of the three issues.
正确答案：
(b) Revaluation of owned premises
(i) Matters
■ The revaluations are clearly material as $1·7 million, $5·4 million and $7·1 million represent 5·5% , 17·6% and
23·1% of total assets, respectively.
■ The change in accounting policy, from a cost model to a revaluation model, should be accounted for in accordance
with IAS 16 ‘Property, Plant and Equipment’ (i.e. as a revaluation).
Tutorial note: IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ does not apply to the initial
application of a policy to revalue assets in accordance with IAS 16.
■ The basis on which the valuations have been carried out, for example, market-based fair value (IAS 16).
■ Independence, qualifications and expertise of valuer(s).
■ IAS 16 does not permit the selective revaluation of assets thus the whole class of premises should have been
revalued.
■ The valuations of properties after the year end are adjusting events (i.e. providing additional evidence of conditions
existing at the year end) per IAS 10 ‘Events After the Balance Sheet Date’.
Tutorial note: It is ‘now’ still less than three months after the year end so these valuations can reasonably be
expected to reflect year-end values.
■ If $5·4 million is a net amount of surpluses and deficits it should be grossed up so that the credit to equity reflects
the sum of the surpluses with any deficits being expensed through profit and loss (IAS 36 ‘Impairment of Assets’).
■ The revaluation exercise is incomplete. If the revaluations on the remaining three properties are expected to be
material and cannot be reasonably estimated for inclusion in the financial statements for the year ended
30 September 2005 perhaps the change in policy should be deferred for a year.
■ Depreciation for the year should have been calculated on cost as usual to establish carrying amount before
revaluation.
■ Any premises held under finance leases should be similarly revalued.
(ii) Audit evidence
■ A schedule of depreciated cost of owned premises extracted from the non-current asset register.
■ Calculation of difference between valuation and depreciated cost by property. Separate summation of surpluses
and deficits.
■ Copy of valuation certificate for each property.
■ Physical inspection of properties with largest surpluses (including the two valued before the year end) to confirm
condition.
■ Extracts from local property guides/magazines indicating a range of values of similarly styled/sized properties.
■ Separate presentation of the revaluation surpluses (gross) in:
– the statement of changes in equity; and
– reconciliation of carrying amount at the beginning and end of the period.
■ IAS 16 disclosures in the notes to the financial statements including:
– the effective date of revaluation;
– whether an independent valuer was involved;
– the methods and significant assumptions applied in estimating fair values; and
– the carrying amount that would have been recognised under the cost model. -
第9题：
Which statements concerning the switch construct are true？（）
- A、All switch statements must have a default label.
- B、There must be exactly one label for each code segment in a switch statement.
- C、The keyword continue can never occur within the body of a switch statement.
- D、No case label may follow a default label within a single switch statement.
- E、A character literal can be used as a value for a case label.
正确答案:E -
第10题：
You executed the following command to drop a user: DROP USER scott CASCADE; Which two statements regarding the above command are correct?（）
- A、All the objects of scott are moved to the Recycle Bin.
- B、Any objects in the Recycle Bin belonging to scott are purged.
- C、All the objects owned by scott are permanently dropped from the database.
- D、All the objects of scott in the Recycle Bin must be purged before executing the DROP command.
- E、Any objects in the Recycle Bin belonging to scott will not be affected by the above DROP command.
正确答案:B,C -
第11题：
多选题Concerning the figure below, if a =b, which of the following statements must be true? (Indicate all such statements.)Ac=d
Bl and k are parallel
Cm and l are perpendicular
正确答案： C,B解析：
根据题目中的已知信息无法推断出各直线的关系，因此B、C均不正确；而由图示可知，c和d分别是a和b的补角，由于a=b，所以c=d，A项正确。 -
第12题：
单选题Which of the following statements about pump operations is NOT a correct statement?（）AIn order for a fluid to be pumped, a fluid must be made to flow
BA substance must be cold in order for it to be pumped
CThe kinetic energy imparted by the pump can be used to force a liquid through a hydraulic system
DA pump must receive its energy from an external source
正确答案： C解析： 暂无解析 -
第13题：
18 Which of the following statements about accounting ratios and their interpretation are correct?
1 A low-geared company is more able to survive a downturn in profit than a highly-geared company.
2 If a company has a high price earnings ratio, this will often indicate that the market expects its profits to rise.
3 All companies should try to achieve a current ratio (current assets/current liabilities) of 2:1.
A 2 and 3 only
B 1 and 3 only
C 1 and 2 only
D All three statements are correct
正确答案：C
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第14题：
22 Which of the following items may appear in a company’s statement of changes in equity, according to IAS 1 Presentation of financial statements?
1 Unrealised revaluation gains.
2 Dividends paid.
3 Proceeds of equity share issue.
4 Profit for the period.
A 2, 3 and 4 only
B 1, 3 and 4 only
C All four items
D 1, 2 and 4 only
正确答案：C
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第15题：
5 An enterprise has made a material change to an accounting policy in preparing its current financial statements.
Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimates
and errors in these financial statements?
1 The reasons for the change.
2 The amount of the consequent adjustment in the current period and in comparative information for prior periods.
3 An estimate of the effect of the change on future periods, where possible.
A 1 and 2 only
B 1 and 3 only
C 2 and 3 only
D All three items
正确答案：A
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第16题：
16 Which of the following statements about accounting concepts and conventions are correct?
(1) The entity concept requires that a business is treated as being separate from its owners.
(2) The use of historical cost accounting tends to understate assets and profit when prices are rising.
(3) The prudence concept means that the lowest possible values should be applied to income and assets and the
highest possible values to expenses and liabilities.
(4) The money measurement concept means that only assets capable of being reliably measured in monetary terms
can be included in the balance sheet of a business.
A 1 and 2
B 2 and 3
C 3 and 4
D 1 and 4
正确答案：D
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第17题：
21 Which of the following statements about contingent assets and contingent liabilities are correct?
1 A contingent asset should be disclosed by note if an inflow of economic benefits is probable.
2 A contingent liability should be disclosed by note if it is probable that a transfer of economic benefits to settle it
will be required, with no provision being made.
3 No disclosure is required for a contingent liability if it is not probable that a transfer of economic benefits to settle
it will be required.
4 No disclosure is required for either a contingent liability or a contingent asset if the likelihood of a payment or
receipt is remote.
A 1 and 4 only
B 2 and 3 only
C 2, 3 and 4
D 1, 2 and 4
正确答案：A
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第18题：
8 Which of the following statements about accounting concepts and conventions are correct?
(1) The money measurement concept requires all assets and liabilities to be accounted for at historical cost.
(2) The substance over form. convention means that the economic substance of a transaction should be reflected in
the financial statements, not necessarily its legal form.
(3) The realisation concept means that profits or gains cannot normally be recognised in the income statement until
realised.
(4) The application of the prudence concept means that assets must be understated and liabilities must be overstated
in preparing financial statements.
A 1 and 3
B 2 and 3
C 2 and 4
D 1 and 4.
正确答案：B
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第19题：
21 Which of the following items must be disclosed in a company’s published financial statements?
1 Authorised share capital
2 Movements in reserves
3 Finance costs
4 Movements in non-current assets
A 1, 2 and 3 only
B 1, 2 and 4 only
C 2, 3 and 4 only
D All four items
正确答案：D
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第20题：
(a) The following information relates to Crosswire a publicly listed company.
Summarised statements of financial position as at:
The following information is available:
(i) During the year to 30 September 2009, Crosswire embarked on a replacement and expansion programme for its non-current assets. The details of this programme are:
On 1 October 2008 Crosswire acquired a platinum mine at a cost of $5 million. A condition of mining the
platinum is a requirement to landscape the mining site at the end of its estimated life of ten years. The
present value of this cost at the date of the purchase was calculated at $3 million (in addition to the
purchase price of the mine of $5 million).
Also on 1 October 2008 Crosswire revalued its freehold land for the first time. The credit in the revaluation
reserve is the net amount of the revaluation after a transfer to deferred tax on the gain. The tax rate applicable to Crosswire for deferred tax is 20% per annum.
On 1 April 2009 Crosswire took out a finance lease for some new plant. The fair value of the plant was
$10 million. The lease agreement provided for an initial payment on 1 April 2009 of $2·4 million followed
by eight six-monthly payments of $1·2 million commencing 30 September 2009.
Plant disposed of during the year had a carrying amount of $500,000 and was sold for $1·2 million. The
remaining movement on the property, plant and equipment, after charging depreciation of $3 million, was
the cost of replacing plant.
(ii) From 1 October 2008 to 31 March 2009 a further $500,000 was spent completing the development
project at which date marketing and production started. The sales of the new product proved disappointing
and on 30 September 2009 the development costs were written down to $1 million via an impairment
charge.
(iii) During the year ended 30 September 2009, $4 million of the 10% convertible loan notes matured. The
loan note holders had the option of redemption at par in cash or to exchange them for equity shares on the
basis of 20 new shares for each $100 of loan notes. 75% of the loan-note holders chose the equity option.
Ignore any effect of this on the other equity reserve.
All the above items have been treated correctly according to International Financial Reporting Standards.
(iv) The finance costs are made up of:
Required:
(i) Prepare a statement of the movements in the carrying amount of Crosswire’s non-current assets for the
year ended 30 September 2009; (9 marks)
(ii) Calculate the amounts that would appear under the headings of ‘cash flows from investing activities’
and ‘cash flows from financing activities’ in the statement of cash flows for Crosswire for the year ended
30 September 2009.
Note: Crosswire includes finance costs paid as a financing activity. (8 marks)
(b) A substantial shareholder has written to the directors of Crosswire expressing particular concern over the
deterioration of the company’s return on capital employed (ROCE)
Required:
Calculate Crosswire’s ROCE for the two years ended 30 September 2008 and 2009 and comment on the
apparent cause of its deterioration.
Note: ROCE should be taken as profit before interest on long-term borrowings and tax as a percentage of equity plus loan notes and finance lease obligations (at the year end). (8 marks)
正确答案：
(i)Thecashelementsoftheincreaseinproperty,plantandequipmentare$5millionforthemine(thecapitalisedenvironmentalprovisionisnotacashflow)and$2·4millionforthereplacementplantmakingatotalof$7·4million.(ii)Ofthe$4millionconvertibleloannotes(5,000–1,000)thatwereredeemedduringtheyear,75%($3million)ofthesewereexchangedforequitysharesonthebasisof20newsharesforeach$100inloannotes.Thiswouldcreate600,000(3,000/100x20)newsharesof$1eachandsharepremiumof$2·4million(3,000–600).As1million(5,000–4,000)newshareswereissuedintotal,400,000musthavebeenforcash.Theremainingincrease(aftertheeffectoftheconversion)inthesharepremiumof$1·6million(6,000–2,000b/f–2,400conversion)mustrelatetothecashissueofshares,thuscashproceedsfromtheissueofsharesis$2million(400nominalvalue+1,600premium).(iii)Theinitialleaseobligationis$10million(thefairvalueoftheplant).At30September2009totalleaseobligationsare$6·8million(5,040+1,760),thusrepaymentsintheyearwere$3·2million(10,000–6,800).(b)TakingthedefinitionofROCEfromthequestion:Fromtheaboveitcanbeclearlyseenthatthe2009operatingmarginhasimprovedbynearly1%point,despitethe$2millionimpairmentchargeonthewritedownofthedevelopmentproject.ThismeansthedeteriorationintheROCEisduetopoorerassetturnover.Thisimpliestherehasbeenadecreaseintheefficiencyintheuseofthecompany’sassetsthisyearcomparedtolastyear.Lookingatthemovementinthenon-currentassetsduringtheyearrevealssomemitigatingpoints:Thelandrevaluationhasincreasedthecarryingamountofproperty,plantandequipmentwithoutanyphysicalincreaseincapacity.Thisunfavourablydistortsthecurrentyear’sassetturnoverandROCEfigures.TheacquisitionoftheplatinummineappearstobeanewareaofoperationforCrosswirewhichmayhaveadifferent(perhapslower)ROCEtootherpreviousactivitiesoritmaybethatitwilltakesometimefortheminetocometofullproductioncapacity.Thesubstantialacquisitionoftheleasedplantwashalf-waythroughtheyearandcanonlyhavecontributedtotheyear’sresultsforsixmonthsatbest.Infutureperiodsafullyear’scontributioncanbeexpectedfromthisnewinvestmentinplantandthisshouldimprovebothassetturnoverandROCE.Insummary,thefallintheROCEmaybeduelargelytotheabovefactors(effectivelythereplacementandexpansionprogramme),ratherthantopooroperatingperformance,andinfutureperiodsthismaybereversed.ItshouldalsobenotedthathadtheROCEbeencalculatedontheaveragecapitalemployedduringtheyear(ratherthantheyearendcapitalemployed),whichisarguablymorecorrect,thenthedeteriorationintheROCEwouldnothavebeenaspronounced. -
第21题：
Which statement is true regarding the INTERSECT operator?（）
- A、It ignores NULL values
- B、Reversing the order of the intersected tables alters the result
- C、The names of columns in all SELECT statements must be identical
- D、The number of columns and data types must be identical for all SELECT statements in the query
正确答案:D -
第22题：
多选题If p and q are primes greater than 2, which of the following statements must be true? (Indicate all such statements.)Ap + q is even
Bpq is odd
Cp2-q2 is even
正确答案： A,B解析：
由于所有大于2的质数都是奇数，因此p和q均是奇数，两奇数相加为偶数，所以A项正确；两奇数的乘积还是奇数，所以B项正确；两奇数的平方还各自是奇数，而两奇数的平方之差是偶数，因此C项也正确；所以选择A、B、C三项。 -
第23题：
单选题Which statement is true regarding the INTERSECT operator?（）AIt ignores NULL values
BReversing the order of the intersected tables alters the result
CThe names of columns in all SELECT statements must be identical
DThe number of columns and data types must be identical for all SELECT statements in the query
正确答案： D解析： 暂无解析