题目内容（请给出正确答案）

[主观题]

Financial statements represent transactions in words and numbers. To be useful, financ

ial 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 represent…”相关的问题

第1题

On 1 October 20X4, Flash Co acquired an item of plant under a five－year lease agreemen

On 1 October 20X4, Flash Co acquired an item of plant under a five-year lease agreement. The plant had a cash purchase cost of $25m. The agreement had an implicit finance cost of 10% per annum and required an immediate deposit of $2m and annual rentals of $6m paid on 30 September each year for five years.

What is the current liability for the leased plant in Flash Co’s statement of financial position as at 30 September 20X5?

A、$19,300,000

B、$4,070,000

C、$5,000,000

D、$3,850,000

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第2题

When a single entity makes purchases or sales in a foreign currency, it will be necess

ary to translate the transactions into its functional currency before the transactions can be included in its financial records.

In accordance with IAS 21 The Effect of Changes in Foreign Currency Exchange Rates, which of the following foreign currency exchange rates may be used to translate the foreign currency purchases and sales?

(1)The rate which existed on the day that the purchase or sale took place

(2)The rate which existed at the beginning of the accounting period

(3)An average rate for the year, provided there have been no significant fluctuations throughout the year

(4)The rate which existed at the end of the accounting period

A、(2)and (4)

B、(1)only

C、(3)only

D、(1)and (3)

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第3题

Which of the following criticisms does NOT apply to historical cost financial statements during a period of rising prices?

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4题

Caddy Co acquired 240,000 of Ambel Co’s 800,000 equity shares for $6 per share on 1 O

ctober 20X4. Ambel Co’s profit after tax for the year ended 30 September 20X5 was $400,000 and it paid an equity dividend on 20 September 20X5 of $150,000.

On the assumption that Ambel Co is an associate of Caddy Co, what would be the carrying amount of the investment in Ambel Co in the consolidated statement of financial position of Caddy Co as at 30 September 20X5?

A、$1,560,000

B、$1,395,000

C、$1,515,000

D、$1,690,000

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第5题

On 1 October 20X4, Pyramid Co acquired 80% of Square Co’s 9 million equity shares. At

the date of acquisition,Square Co had an item of plant which had a fair value of $3m in excess of its carrying amount. At the date of acquisition it had a useful life of five years. Pyramid Co’s policy is to value non-controlling interests at fair value at the date of acquisition. For this purpose, Square Co’s shares had a value of $3·50 each at that date. In the year ended 30 September 20X5, Square Co reported a profit of $8m.

At what amount should the non-controlling interests in Square Co be valued in the consolidated statement of financial position of the Pyramid group as at 30 September 20X5?

A、$26,680,000

B、$7,900,000

C、$7,780,000

D、$12,220,000

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第6题

On 1 October 20X4, Kalatra Co commenced drilling for oil from an undersea oilfield. Ka

latra Co is required to dismantle the drilling equipment at the end of its five-year licence. This has an estimated cost of $30m on 30 September 20X9. Kalatra Co’s cost of capital is 8% per annum and $1 in five years’ time has a present value of 68 cents.

What is the provision which Kalatra Co would report in its statement of financial position as at 30 September 20X5 in respect of its oil operations?

A、$32,400,000

B、$22,032,000

C、$20,400,000

D、$1,632,000

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第7题

Quartile Co is in the jewellery retail business which can be assumed to be highly sea

sonal. For the year ended 30 September 20X5, Quartile Co assessed its operating performance by comparing selected accounting ratios with those of its business sector average as provided by an agency. Assume that the business sector used by the agency is a meaningful representation of Quartile Co’s business.

Which of the following circumstances may invalidate the comparison of Quartile Co’s ratios with those of the sector average?

(1)In the current year, Quartile Co has experienced significant rising costs for its purchases

(2)The sector average figures are compiled from companies whose year ends are between 1 July 20X5 and 30 September 20X5

(3)Quartile Co does not revalue its properties, but is aware that other entities in this sector do

(4)During the year, Quartile Co discovered an error relating to the inventory count at 30 September 20X4. This error was correctly accounted for in the financial statements for the current year ended 30 September 20X5

A、(1)and (3)

B、(2)and (4)

C、(2)and (3)

D、(1)and (4)

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第8题

Which of the following should be capitalised in the initial carrying amount of an item

of plant?

(1)Cost of transporting the plant to the factory

(2)Cost of installing a new power supply required to operate the plant

(3)Cost of a three-year plant maintenance agreement

(4)Cost of a three-week training course for staff to operate the plant

A、(1)and (3)

B、(1)and (2)

C、(2)and (4)

D、(3)and (4)

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第9题

On 1 October 20X4, Hoy Co had $2·5 million of equity share capital (shares of 50 cents

each)in issue. No new shares were issued during the year ended 30 September 20X5, but on that date there were outstanding share options which had a dilutive effect equivalent to issuing 1·2 million shares for no consideration. Hoy’s profit after tax for the year ended 30 September 20X5 was $1,550,000.

In accordance with IAS 33 Earnings Per Share, what is Hoy’s diluted earnings per share for the year ended 30 September 20X5?

A、$0·25

B、$0·41

C、$0·31

D、$0·42

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第10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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