Which of the following events occurring after the reporting period are classified as adjusting, if material? (1)　　　The sale of inventories valued at cost at the end of the reporting period for a figure in excess of 　cost.(2)　　　A valuation of land and buildings providing evidence of an impairment in value at the year end.(3)　　　The issue of shares and loan notes.(4)　　　The insolvency of a customer with a balance outstanding at the year end.

1 .Which of the following statements about provisions, contingencies and events after the reporting period is correct?

A A company expecting future operating losses should make provision for those losses as soon as it becomes probable that they will be incurred. B Details of all adjusting events after the reporting period must be disclosed by note in a company’s financial statements. C A contingent asset must be r...

题型: 单选题 提问时间: 2021-08-22

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2 .Which of the following statements about contingent assets and contingent liabilities is true? (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 less than probable that a transfer of economic benefits to settle it will be required.

A 1 only B 2 only C 3 only D None of these statements

题型: 单选题 提问时间: 2021-08-22

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3 .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 reporting period 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 (1) and (3) C (2) and (4) D (3) and (4)

题型: 单选题 提问时间: 2021-08-22

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4 .The draft financial statements of a limited liability company are under consideration.　The accounting treatment of the following material events after the reporting period needs to be determined:(1)　　　The bankruptcy of a major customer, with a substantial debt outstanding at the end of the reporting period.(2)　　　A fire destroying some of the company’s inventory (the company’s going concern status is not affected).(3)　　　An issue of shares to finance expansion.(4)　　　Sale for less than cost of some inventory held at the end of the reporting period.According to IAS 10 “Events After the Reporting Period”, which of the above events require an adjustment to the figures in the draft financial statements?　

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

题型: 单选题 提问时间: 2021-08-22

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5 .In finalising the financial statements of a company for the year ended 30 June 2011, which of the following material matters should be adjusted for? (1)　　　A customer who owed USD180,000 at the 30 June 2011 went bankrupt in July 2011.(2)　　　The sale in August 2011 for USD400,000 of some inventory items carried in the statement of financial position at USD500,000.(3)　　　A factory with a value of USD3,000,000 was seriously damaged by a fire in July 2011.　The factory was back in production by August 2011 but its value was reduced to USD2,000,000.(4)　　　The company issued 1,000,000 ordinary shares in August 2011.

A (1) and (2) only B (1) and (4) only C (2) and (3) only D (3) and (4) only

题型: 单选题 提问时间: 2021-08-22

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7 .Which of the following events between the end of the reporting period 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) only B (2) and (4) C (3) only D None of them

题型: 单选题 提问时间: 2021-08-22

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8 .Which two of the following events after the reporting period would normally qualify as adjusting events according to IAS 10 “Events After the Reporting Period Date”? (1)　　　The bankruptcy of a credit customer with a balance outstanding at the end of the reporting period.(2)　　　A decline in the market value of investments.(3)　　　The declaration of an ordinary dividend.(4)　　　The determination of the cost of assets purchased before the end of the reporting period.

A (1) and (2) B (1) and (4) C (2) and (3) D (3) and (4)

题型: 单选题 提问时间: 2021-08-22

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9 .Which of the following items could appear in a company’s statement of cash flows? (1)　　　Proposed dividends(2)　　　Rights issue of shares(3)　　　Bonus issue of shares(4)　　　Repayment of loan

A (1) and (3) B (1) and (4) C (2) and (3) D (2) and (4)

题型: 单选题 提问时间: 2021-08-22

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