题目内容（请给出正确答案）

[主观题]

A company uses the LIFO inventory method, but most of the other companies in the same

industry use FIFO. Which of the following best describes one of the adjustments that would be made to the company’s financial statements to compare it with other companies in the industry？ The amount reported for the company’s ending inventory should be:

A. increased by the ending balance in its LIFO reserve.

B. decreased by the ending balance in its LIFO reserve.

C. increased by the change in its LIFO reserve for that period.

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更多“A company uses the LIFO invent…”相关的问题

第1题

Is the reversal of an inventory write-down permitted under U.S. GAAP (generally accep

ted accounting principles) and International Financial Reporting Standards (IFRS)?

A. No, under both

B. Yes, under both

C. Yes under IFRS but not under U.S. GAAP

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第2题

Which of the following would be the most useful ratio from a financial analysis persp

ective, rather than from an accounting perspective, assuming a rising price environment?

A. Calculating the current ratio by using the current assets determined with LIFO.

B. Determining the inventory turnover by using cost of goods sold prepared on a FIFO basis and average inventory prepared on a LIFO basis.

C. Determining the return on assets by using net income prepared on a LIFO basis and average total assets prepared on a FIFO basis.

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第3题

Greene Corporation uses the LIFO inventory method, but most of other companies in Gre

ene’s industry use FIFO. Which of the following best describe one of the adjustments that would be made to Greene’s financial statements to compare that company with other companies in the industry? To adjust Greene’s inventory to the FIFO method, the amount reported for Greene’s ending inventory should be:

A. increase by the ending balance in Greene’s LIFO reserve.

B. decrease by the ending balance in Greene’s LIFO reserve.

C. increase by the change in Greene’s LIFO reserve for that period.

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第4题

Due to global oversupply in the micro-chip industry a company wrote down its 2012 inv

entory by €4.0 million from €12.0 million. The following year, due to a change in competitive forces in the industry the market price of these chips rose sharply to 10% above their original 2012 value. If the company prepares its financial statements in accordance with International Financial Reporting Standards (IFRS), its 2013 inventory (in €-millions) will most likely be reported as:

A. 8.0.

B. 12.0.

C. 13.2.

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第5题

On 1 January 2009, a company that prepares its financial statements according to IFRS issued bonds with the following features:

10. On 1 January 2009, a company that prepares its financial statements according to IFRS issued bonds with the following features:

·Face value ￡20,000,000

·Term 5 years

·Coupon rate 6% paid annually on December 31

·Market rate at issue 4%

The company did not elect to carry the bonds at fair value. In December 2011 the market rate on similar bonds had increased to 5% and the company decided to buy back (retire) the bonds after the coupon payment on December 31. As a result, the gain on retirement reported on the 2011 statement of income is closest to:

A. ￡340,410.

B. ￡371,882.

C. ￡382,556.

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第6题

An analyst makes the appropriate adjustments to the financial statements of retail co

mpanies that are lessees using a substantial number of operating leases.Compared to ratios computed from the unadjusted statements, the ones computed from the adjusted statements wouldmost likely be higher for:

A.the debt-equity ratio but not the interest coverage ratio.

B.the interest coverage ratio but not the debt-equity ratio.

C.both the debt-equity ratio and the interest coverage ratio.

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第7题

A company issued $2,000,000 of bonds with a 20 year maturity at 96.Seven years later,

the company called the bonds at 103 when the unamortized discount was $39,000.The company would most likely report a loss of:

A.$60,000.

B.$99,000.

C.$138,000.

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第8题

A company, which prepares its financial statements in accordance with IFRS issues ￡5,

000,000 face value ten year bonds on January 1, 2010 when interest rates are 5.50%.The bonds carry a coupon of 6.50%, with interest paid annually on December 31.The carrying value of the bonds as of December 31, 2011 will be closest to:

A.￡4,695,562.

B.￡5,301,000.

C.￡5,316,000.

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第9题

Compared to classifying a lease as a financing lease, if a lessee reports the lease a

s an operating lease it will most likely result in a:

A.lower return on assets.

B.higher debt-to-equity ratio.

C.lower cash from operations.

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第10题