IAS 18 Revenue prescribes the accounting treatment for the following revenues:(1) Royalty income(2) Dividend income(3) Revenue from the sale of goods(4) Revenue from the rendering of servicesWhich of these revenues can be recognised on an accrual basis in accordance with IFRS?

1 .A company receives income from:(1) the sale of non-current assets;(2) the provision of services to clients;(3) surplus cash funds placed on deposit;(4) property rentals. From which of these sources must revenue be recognised under IAS 18 “Revenue”?

A 1, 2 and 3 only B 1, 2 and 4 only C 1, 3 and 4 only D 2, 3 and 4 only

题型: 单选题 提问时间: 2021-08-24

查看答案

---

2 .Bara sold 10 items of merchandise with a list price of USD100 each to a customer on normal credit terms of 30 days interest-free credit. Bara offers a 20% trade discount on all such sales. 10 days after the sale the customer paid Bara USD750, which was accepted in full and final settlement of the amount due. USD40 of the amount received is in respect of sales tax collected by Bara on behalf of the tax authority.At what amount should Bara measure revenue from the sale of these items?

A USD710 B USD750 C USD760 D USD800

题型: 单选题 提问时间: 2021-08-24

查看答案

---

4 .IAS 16 “Property, Plant and Equipment” defines a number of terms with the meaning specified. For example, “the amount at which an asset is recognised after deducting any accumulated depreciation ...”.Which term does this define?

A Carrying amount B Depreciable amount C Recoverable amount D Residual value

题型: 单选题 提问时间: 2021-08-24

查看答案

---

5 .On 1 January 2015 Amco acquired a building for USD1,000,000. At 31 December 2015 management made the following assessments about the building as at that date:its useful life is 40 years from the date of acquisition;its residual value is expected to be USD200,000;its fair value is USD1,300,000. What is the carrying amount of the building at 31 December 2015 under the cost model?

A USD1,000,000 B USD980,000 C USD975,000 D USD780,000

题型: 单选题 提问时间: 2021-08-24

查看答案

---

6 .On 1 January 2015 Amco acquired a building for USD1,000,000. At 31 December 2015 management made the following assessments about the building as at that date:its useful life is 40 years from the date of acquisition;its residual value is expected to be USD200,000;its fair value is USD1,300,000. What is the carrying amount of the building at 31 December 2015 and the depreciation charge for the year to 31 December under the revaluation model?

A Carrying amount: USD1,300,000 Depreciation charge USDNil B Carrying amount: USD1,300,000 Depreciation charge USD20,000 C Carrying amount: USD1,272,500 Depreciation charge USD27,500 D Carrying amount: USD1,267,500 Depreciation charge USD32,500

题型: 单选题 提问时间: 2021-08-24

查看答案

---

7 .A company has incurred the following costs in operating a pilot plant for the manufacture of a new product:(1) amortisation of a licence granted to manufacture the product(2) expenditure on material consumed in the operation of the plant(3) costs incurred in training staff to operate equipment in the plant;(4) depreciation of equipment in the pilot plant.Which of these examples are development activities?

A 1, 2 and 3 only B 1, 2 and 4 only C 1, 3 and 4 only D 2, 3 and 4 only

题型: 单选题 提问时间: 2021-08-24

查看答案

---

8 .Agar commenced a research and development project in 2012. USD20,000 was expensed in 2012 and a further USD30,000 in 2013. In December 2014 the project was completed after incurring further expenditure of USD40,000. The intangible asset created is a formula for a medical cure which was patented on 31 December 2014 for 10 years at an additional cost of USD10,000. Management is of the opinion that the useful life of the formula is five years and that the patent could be sold now for an amount in excess of USD100,000.What is the maximum amount at which the intangible asset can be carried in Agar’s statement of financial position for the year ended 31 December 2015?

A USD40,000 B USD45,000 C USD80,000 D USD100,000

题型: 单选题 提问时间: 2021-08-24

查看答案

---