During the year Subway invoiced $200,000 to its parent company for transfers of goods ininventory. Transfers were made at a 25% mark-up. At the end of the year the parent still held60% of the goods in inventory.What adjustment should be made for unrealised profit in the consolidated financialstatements for the year?

1 .Salt owns 100% of Pepper. During the year Salt sold goods to Pepper for a sales price of$1,044,000, generating a margin of 25%. 40% of these goods had been sold on by Pepper toexternal parties at the end of the reporting period.What adjustment for unrealised profit should be made in Salt’s consolidated financialstatements?

A $83,520 B $104,400 C $125,280 D $156,600

题型: 单选题 提问时间: 2021-08-23

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2 .A non-controlling interest must be presented in a consolidated statement of financial positionas a separate line item within equity.Is this statement true or false according to IAS 1 “Presentation of FinancialStatements”?

A True B False

题型: 单选题 提问时间: 2021-08-23

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3 .What amount of goodwill should be included in the consolidated statement of financialposition of Jarndyce as at 31 December 2012?

A $144,000 B $230,400 C $345,600 D $428,000

题型: 单选题 提问时间: 2021-08-23

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4 .What is the non-controlling interest in the consolidated statement of financial position ofJarndyce as at 31 December 2012?

A $86,400 B $140,000 C $168,800 D $201,600

题型: 单选题 提问时间: 2021-08-23

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5 .On 1 April 2008, Woolwich paid $816,000 for 80% of Malta’s $408,000 share capital.Malta’s retained earnings at that date were $476,000. At 31 March 2013 the retained earningsof the companies are: $000Woolwich 1,224Malta 680Woolwich’s inventory includes goods purchased from Malta for $18,000. Malta makes aprofit at 20% on the cost of all goods sold to Woolwich.What are the retained earnings in the consolidated statement of financial position ofWoolwich as at 31 March 2013?

A $1,384,320 B $1,384,800 C $1,387,200 D $1,439,200

题型: 单选题 提问时间: 2021-08-23

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7 .Which of the following statements regarding the equity method of accounting is true?(1) An investment in an associate is always carried at cost.(2) An investor recognises its share of the associate’s profit or loss in profit or loss.

A Neither statement B Statement 1 only C Statement 2 only D Both statements

题型: 单选题 提问时间: 2021-08-23

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8 .Which of the following could provide evidence of “significant influence”?(1) 51% of the voting power of the investee(2) interchange of management personnel(3) participation in decisions about dividends(4) provision of essential technical information

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: 2021-08-23

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9 .Which of the following statements regarding accounting for associates is true?(1) Any goodwill relating to an associate is included in the carrying amount of theinvestment.(2) An investment in an associate is accounted for using the equity method from the endof the reporting period in which the associate is acquired.

A Neither statement B Statement 1 only C Statement 2 only D Both statements

题型: 单选题 提问时间: 2021-08-23

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10 .Which of the following statements apply when producing a consolidated statement offinancial position?(1) All inter-company balances should be eliminated.(2) Inter-company profit in year-end inventory should be eliminated.(3) Closing inventory held by subsidiaries needs to be included at fair value.

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

题型: 单选题 提问时间: 2021-08-23

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