Which of the following statements concerning consolidated financial statements prepared in accordance with International Financial Reporting Standards is correct? (1)Only the acquisition method can be applied to a business combination(2)There are no grounds on which a subsidiary can be excluded from consolidation(3)Owning 50% of voting rights is sufficient to establish control(4)A parent company preparing consolidated financial statements is not required to present separate financial statements.

1 .Which of the following costs should be included in the valuation of inventory of finished goods held by a manufacturing company, in accordance with IAS 2 Inventories?(1) Import duties on raw materials(2) Materials wasted in the production process that exceed normal losses(3) Finance department costs relating to the payroll for production employees.

A All three items B 1 and 2 only C 1 and 3 only D 2 and 3 only

题型: 单选题 提问时间: 2021-08-22

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2 .Exco sells washing machines with a mark-up of 20%. It also sells with each machine a three-year extended warranty for USD100. Exco offers a 5% discount if the customer pays in cash.If the cost of a washing machine is $1,000 how much revenue should be recognised initially for a cash sale in accordance with IAS 18 “Revenue” (to the nearest $)?

A USD1,140 B USD1,188 C USD1,200 D USD1,235

题型: 单选题 提问时间: 2021-08-22

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3 .Alberta has the following research and development activities in the year to 31 December 2011:(1) Carried out detailed investigative work for a new manufacturing process incurring costs of USD150,000. Tests were still in progress at the end of the year. (2) Bought a patented design for a product costing USD200,000. (3) Training staff to operate new machinery USD100,000. (4) Development of a new brand costing USD240,000. How much should Alberta recognise in its statement of financial position at 31 December 2011 in accordance with IAS 38 “Intangible Assets”?

A USD200,000 B USD300,000 C USD390,000 D USD440,000

题型: 单选题 提问时间: 2021-08-22

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4 .Which of the following events after the reporting period would NOT normally qualify as adjusting events according to IAS 10 “Events After the Reporting Period”?(1) The liquidation of a customer with a debt outstanding at the end of the reporting period.(2) A decline in the market value of investments.(3) The declaration of a final dividend on ordinary shares.(4) The determination of the production cost of inventory manufactured before the end of the reporting period.

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

题型: 单选题 提问时间: 2021-08-22

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6 .At 1 January 2011 Barley acquired 100% of the share capital of Corn for USD1,400,000.　At that date the share capital of Corn consisted of 600,000 ordinary shares of 50c each and its reserves were USD50,000.On acquisition Corn had some assets whose carrying value was USD230,000 but the fair value was USD250,000.　What was goodwill on acquisition?

A USD730,000 B USD750,000 C USD1,030,000 D USD1,050,000

题型: 单选题 提问时间: 2021-08-22

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7 .Gonzo acquired 80% of the share capital of Bamboo a number of years ago.　Bamboo has issued 200,000 USD1 shares which had a market price of USD3.10 on acquisition.　The carrying value of Bamboo’s net assets today is USD650,000, this is USD50,000 higher than it was on acquisition.What amount should be shown for non-controlling interest in Gonzo’s consolidated statement of financial position today?

A USD120,000 B USD124,000 C USD130,000 D USD134,000

题型: 单选题 提问时间: 2021-08-22

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