Conceptually, interim financial statements can be described as emphasizing which of the following enhancing qualitative characteristics?
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1 .一般情况下，速动比率越大，长期偿债能力越强。（ ）
Y 对 N 错
2 .Dean Co. acquired 100% of Morey Corp. prior to Year 3. During Year 3, the individual companies included in their financial statements the following:DeanMoreyOfficers' salariesUSD75,000USD50,000Officers' expenses20,00010,000Loans to officers125,00050,000Intercompany Sales150,000--What amount should be reported as related party disclosures in the notes to Dean's Year 3 consolidated financial statements?
A USD150,000 B USD155,000 C USD175,000 D USD330,000
3 .John Co. acquired 100% of George Corp. prior to Year 3. During Year 3, the individual companies included in their financial statements the following:JohnGeorgeOfficers' salariesUSD75,000USD50,000Officers' expenses20,00010,000Loans to officers125,00050,000What amount should be reported as related party disclosures in the notes to John's Year 3 consolidated financial statements under IFRS?
A USD155,000 B USD125,000 C USD175,000 D USD300,000
5 .Interim financial reporting should be viewed primarily in which of the following ways?
A As useful only if activity is spread evenly throughout the year. B As reporting for an integral part of an annual period. C As if the interim period were an annual accounting period. D As reporting under a comprehensive basis of accounting other than GAAP/IFRS.
6 .For interim financial reporting, a company's income tax provision for the second quarter should be determined using the:
A Effective tax rate expected to be applicable for the second quarter. B Effective tax rate expected to be applicable for the full year as estimated at the end of the second quarter. C Statutory tax rate. D Effective tax rate expected to be applicable for the full year as estimated at the end of the...
7 .During the first quarter of Year 2, Tech Co. had income before taxes of USD200,000, and its effective income tax rate was 15%. Tech's Year 1 effective annual income tax rate was 30%, but Tech expects its Year 2 effective annual income tax rate to be 25%. In its first quarter interim income statement, what amount of income tax expense should Tech report?
A USD60,000 B USD0 C USD50,000 D USD30,000
8 .Due to a decline in market price in the second quarter, Petal Co. incurred an inventory loss. The market price is expected to return to previous levels by the end of the year. At the end of the year the decline had not reversed. When should the loss be reported in Petal's interim income statements?
A Ratably over the third and fourth quarters. B In the second quarter only. C Ratably over the second, third, and forth [sic] quarters. D In the fourth quarter only.
9 .In general, an enterprise preparing interim financial statements should:
A Defer recognition of seasonal revenue. B Allocate revenues and expenses evenly over the quarters, regardless of when they actually occurred. C Disregard permanent decreases in the market value of its inventory. D Use the same accounting principles followed in preparing its latest annual financial ...
