Account Week 2 Lecture Quiz

A company received an additional investment of 2 million yuan from shareholders for equipment procurement, what is the impact of the transaction on the accounting identity? A. Increase in assets and decrease in liabilities Assets and owners' equity increased at the same timeC. Intra-asset increase and decreaseD. Liabilities and owners' equity increase at the same timeAnswer :B analysis: Shareholders' investment belongs to the increase of owners' equity, and at the same time the increase of assets such as cash or equipment, which is in line with the identity relationship of "assets = liabilities + owners' equity". Which of the following is a direct application of the going concern assumption in the basic accounting assumptions? A. Provision for depreciation of fixed assetsB. Inclusion of cash deposits as current assets C. Impairment testing of inventoriesD. Preparation of Cash Flow Statement Answer: A Analysis: The going concern assumption provides a theoretical basis for the depreciation of assets over the life of the asset, assuming that the business will continue to operate. When the customer has received payment in advance but the goods have not been delivered, the correct accounting treatment is: A. Debit accounts receivable and credit main business income B. Debit bank deposits and credit accounts receivable C. Debit accounts receivable and credit goods in stock D. Debit bank deposits and credit accounts payable Answer: B Analysis: Accounts receivable in advance are liabilities and an increase in liabilities should be recognized when the advance payment is received. The most likely reason for the difference of $3,600 between the borrowers and borrowers of an enterprise's trial balance at the end of the period is that: A. Missing a $3,600 sale B. Misrecording $4,500 as $5,400C. Repeatedly recording a $1,800 purchaseD. Recording $6,300 in the reverse direction of the loanAnswer :B Analysis: The number is reversed incorrectly (e.g., 45?54) will result in a multiple of 900, 3,600 = 900 ×4. Conform to this characteristic. When the first-in-first-out method is used to account for inventories, in an inflationary environment, it can lead to: A. overvaluation of inventory at the end of the period B. close to the current cost of sales C. Income statement is more robustD. Increase in cash flow Answer: A Analysis: Under the first-in-first-out method, the low-priced inventory purchased first is carried forward first, and the high-priced inventory retained at the end of the period is the recent highpriced inventory, resulting in an overvaluation of the inventory value. The original value of a piece of equipment is 1.2 million yuan, the estimated net residual value is 200,000 yuan, the service life is 5 years, and the depreciation is calculated by the double declining balance method, and the depreciation amount in the second year is: A. 288,000 yuan B. 320,000 yuan C. 240,000 yuan D. 192,000 yuan Answer: A analysis: The depreciation rate in the first year is 40% (2/5), the depreciation is 120×40% = 480,000, and the book value is 720,000; Depreciation in the second year is 72×40% = 288,000 The correct entries for an enterprise to recognize a bad debt loss are: A. Debit: Credit impairment loss Credit: Accounts receivable B. Debit: Bad debt provision Credit: Accounts receivable C. Debit: Credit impairment loss Credit: Bad debt provision D. Debit: Asset impairment loss Credit: Accounts receivable Answer: C Analysis: Credit impairment loss should be debited and bad debt provision should be credited when bad debts are accrued; Accounts receivable are written off only when bad debts are actually incurred. Which of the following expenses should be capitalized as a cost of fixed assets? A. Routine maintenance costs of equipmentB. Installation and Commissioning Professionals Salary C. Operator Training Fee D. The daily power consumption of the production workshop Answer: B analysis: The necessary expenditure before reaching the predetermined usable state should be capitalized, and the installation and commissioning expenses are necessary costs. When a company purchases trading financial assets, it pays a price of 1.05 million yuan (including 50,000 yuan of declared unpaid dividends), and the initial investment cost that should be recognized is: A. 1.05 million yuan B. 1 million yuan C. 950,000 yuan D. 1.1 million yuan Answer: B Analysis: The recorded value of trading financial assets should deduct the cash dividends that have been declared but not yet paid, 105-5 = 1 million yuan The issuance of stock dividends by a company will result in: A. an increase in total shareholders' equity B. an increase in earnings per share C. a decrease in retained earnings D. cash outflow answer: C Analysis: Stock dividends are retained earnings converted into equity capital, and the total equity remains unchanged, but the retained earnings decrease and the equity capital increases. Which of the following does not fall under the category of "Investment Activities" in the Statement of Cash Flows? A. Disposal of cash received by subsidiaries Cash paid for the purchase of patented technology C. Recovery of the principal amount invested in the bond D. Payment of construction in progress Answer: D Analysis: Construction in progress belongs to the category of fixed assets, and its payment belongs to investment activities. This question is a trap option, and you need to pay attention to the review questions. A company's accounts receivable turnover days are 45 days, inventory turnover days are 60 days, accounts payable turnover days are 30 days, and its cash turnover period is: A. 75 days B. 105 days C. 135 days D. 15 days Answer: A analysis: cash turnover period = inventory turnover period + accounts receivable turnover period - accounts payable turnover period = 60 + 45-30 = 75 days A general VAT taxpayer purchases raw materials at a tax-inclusive price of 1.13 million yuan (tax rate of 13%), a shortage of 10% when inspecting the warehouse, and a reasonable loss rate of 5%, and the amount that should be included in the inventory cost is: A. 1 million yuan B. 1.035 million yuan C. 900,000 yuan D. 945,000 yuan Answer: D Analysis: Reasonable loss is included in the cost, and unreasonable loss shall not be included: total cost = 113 / (1 + 13%) × (100%-5%) = 100×0.95 = 950,000? Careful review of the question found that the problem is set with a reasonable loss rate of 5%, 5% of the 10% shortage is reasonable, and the other 5% is abnormal loss? (Note: This question needs to be set more rigorously, and it is recommended to modify it as: 10% is found to be short when checking the receipt, of which 5% is a reasonable loss, and 5% is to be checked, then the storage cost = 100×95% = 950,000, but there is no option in it, indicating that the question is set incorrectly, and it is recommended to change the question) Substitution: 13. Which of the following makes a permanent difference? A. Accelerated depreciation is allowed by tax law and straight-line method of accountingB. Interest income from government bondsC. Product Quality Assurance Fee D. Changes in the fair value of trading financial assetsAnswer :B Analysis: The income recognized in the accounting of interest income from treasury bonds but exempt from tax under the tax law is a permanent difference, and other options produce temporary differences. A company has a share capital of 10 million yuan (par value of 1 yuan per share), a capital reserve of 3 million yuan, and a surplus reserve of 2 million yuan. Announcing a stock dividend of 10 shares for 2 shares, the stock price of the day is 5 yuan, and the correct treatment is: A. Debit profit distribution of 2 million B. Credited with share capital of 2,000,000 C. Debit capital reserve 4,000,000 D. Credit capital reserve of 8 million Answer: B Analysis: Stock dividends are treated at par value: 10 million × 20% = 2 million shares, 2 million shares are credited, and 2 million profit distributions are debited. The initial cash outflow of an investment project is 2 million yuan, the annual net cash inflow is 800,000 yuan during the operation period, the project period is 5 years, and the payback period is: A. 2.5 years B. 2.8 years C. 3 years D. 3.2 years Answer: A analysis: 200/80 = 2.5 years, just in 2.5 years to recover the investment, belongs to the static payback period calculation. When an enterprise uses the equity method to account for long-term equity investment, and the investee declares the payment of cash dividends, the entries that the investor should make are: A. Borrow: Dividends receivable Credit: Investment income B. Borrow: Dividends receivable Credit: Long-term equity investment C. Borrow: Bank Deposits Credit: Investment income D. Borrow: Long-term equity investment Credit: Investment income Answer: B Analysis: Under the equity method, the dividends declared by the investee are regarded as investment returns. The book value of long-term equity investments should be reduced. Which of the following is a balance sheet post-balance sheet adjustment? Significant changes in foreign exchange rates Major Litigation Case ClosedC. Fraud in financial statements was discovered. Damage to assets due to natural disasters Answer: C Analysis: Adjustment events refer to events that provide new evidence of existing conditions at the balance sheet date, and financial fraud falls into this category. The depreciation of the sum of the years of a piece of equipment, the original value is 500,000, the residual value is 50,000, and it is used for 5 years, and the depreciation amount in the third year is: A. 90,000 B. 120,000 C. 108,000 D. 86,400 Answer: C Analysis: Sum of years = 15, depreciation rate = 3/15 in the third year, depreciation base 450,000, 45×3/15 = 90,000? (Note: The calculation of the question is incorrect, the correct calculation should be: the depreciation rate of the third year = (5-2)/15=3/15=20%, the depreciation amount = 45×3/15=90,000, option A is correct.) Title needs to be corrected). Replacement Question: 18. A bond with a face value of 1 million, a coupon rate of 5%, an effective interest rate of 6%, issued at a premium, amortized by the effective interest rate method, and the initial interest expense: A. Equal to the coupon rate B. Higher than the coupon rate C. Lower than the coupon rate D. Irrelevant to the coupon rate Answer: C Analysis: When the premium is issued, the effective interest rate is lower than the coupon rate, and the interest expense = the amortized cost at the beginning of the period × the effective interest rate, which is lower than the coupon interest. Which of the following should be included in other comprehensive income? A. Changes in the fair value of trading financial assetsB. Translation Differences in Foreign Currency StatementsC. Inventory decline loss D. Debt restructuring income Answer: B Analysis: The difference in translation of foreign currency statements belongs to other comprehensive income items, and other options are included in the current profit or loss. If a company issues convertible bonds, the conversion rights should be recognized as: A. Liability component B. Equity component C. Hybrid financial instruments D. Derivative financial liabilities Answer: B Analysis: According to IFRS, the conversion right in convertible bonds should be recognized separately as an equity component. Of the following inventory valuation methods, the ending inventory cost is closest to the current replacement cost: A. FIFO method B. LIFO method C. Weighted average method D. Individual valuation method Answer: A Analysis: When prices rise, the ending inventory under the first-in, first-out method is the most recently purchased highpriced inventory. Deferred tax assets arise from: A. Accounting profit greater than taxable income B. Deductible temporary difference C. Taxable temporary difference D. Permanent difference Answer: B Analysis: Deferred tax assets arise from deductible temporary differences and are expected to be tax deductible in the future. If a company's ROE is 18%, the equity multiplier is 2, and the total asset turnover ratio is 1.5, then the net profit margin of sales is: A. 6% B. 8% C. 10% D. 12% Answer: A Analysis: ROE = net profit margin from sales× total asset turnover ratio × equity multiplier ? 18% = PM×1.5×2 ? PM=6%. Which of the following is a change in accounting policy? A. Adjustment of depreciation life of fixed assetsB. The inventory valuation method has been changed from first-in-first-out to weighted average C. Change in the provision ratio for bad debtsD. Changes in the capitalization conditions of R&D expenses Answer: B Analysis: Changes in inventory valuation methods are changes in accounting policies, and others are changes in accounting estimates. The goodwill arising from the business combination shall: A. be amortized over 10 years B. be tested for impairment annually C. be included in profit or loss for the current period D. Presented as intangible assets Answer: B Analysis: According to accounting standards, goodwill shall not be amortized and should be tested for impairment on an annual basis. If a company uses activity costing, which of the following is most likely to be identified as a batch-level activity? A. Depreciation of machinery Product DesignC. Quality Inspection D. Factory Security Answer: C Analysis: Quality inspection is usually carried out on a batch-by-batch basis, which is a batch-level cost driver. When preparing the consolidated financial statements, the excess losses of subsidiaries are reflected in the following ways: A. Write-off of the capital reserve of the parent company B. Recognition of deferred tax assets C. Contribution according to the proportion of shareholdings D. Write-down of long-term equity investment is limited to zeroAnswer: D Analysis: The parent company's assumption of the loss of the subsidiary is limited to the write-down of the book value of the investment to zero, and the excess loss is generally not recognized. Which of the following is required to be disclosed in the Supplementary Information to the Cash Flow Statement? A. Cash payments to staff Information on reconciling net profit to operating cash flow C. Cash payments for the acquisition of fixed assetsD. The impact of exchange rate changes on cash Answer: B Analysis: The cash flow statement prepared by the indirect method must disclose the process of adjusting net profit to operating cash flow. If a lease contract meets the conditions of a financial lease, the lessee should confirm: A. right-of-use assets and lease liabilities B. fixed assets and long-term payables C. prepaid rent and accounts payable D. long-term amortized expenses and financial expensesAnswer :A Analysis: Under the new lease standard, financial leases are recorded as right-of-use assets and lease liabilities. The government subsidy received by the enterprise to compensate for the expenses incurred should be included in: A. Deferred income B. Other comprehensive income C. Profit or loss for the current period D. Capital reserve Answer: C Analysis: Government subsidies to compensate for incurred expenses should be directly included in the current profit and loss (other income). Which of the following assets must be measured at fair value through profit or loss under IFRS? A. Held-to-maturity investment B. Debt instruments at fair value through other comprehensive incomeC. Equity instruments designated as measured at fair value through profit or lossD. Accounts receivable answer: C Analysis: IFRS allows non-trading equity instruments to be designated as "FVPL" (irrevocable), but they need to be directly credited to profit or loss, and other options have different measurement methods. The foreign currency accounts payable of a company have exchange losses due to exchange rate changes, which should be included in: A. Financial expenses B. Other comprehensive income C. Non-operating expenses D. Deferred exchange gains and losses Answer: A Analysis: The exchange differences of monetary items are directly included in the current profit or loss (financial expenses). The lower of cost and net realizable value method is applicable to: A. trading financial assets B. inventories C. investment real estate D. goodwill answer: B Analysis: Inventory at the end of the period is measured at the lower of cost and net realizable value, and other assets have different measurement rules. Which of the following is cash flow from financing activities? A. Payment of interest on bondsB. Disposal of cash received by subsidiaries C. Receipt of equity investment income D. Cash paid for the repurchase of treasury shares Answer: D Analysis: The repurchase of shares is a change in equity and is included in financing activities. Note: IFRS stipulates that interest payments can be classified as operating or fundraising, but this question is treated as usual. A company has a deferred income tax liability balance of 100,000 yuan at the beginning of the year, and a new taxable temporary difference of 500,000 yuan (tax rate of 25%) this year, which should be recognized at the end of the year: A. Deferred income tax liability 125,000 B. Deferred income tax expense credit 25,000C. Deferred income tax liability increased by 125,000 D. Taxes payable decreased by 125,000Answer :C Analysis: New difference of 50×25% = 125,000, The balance of deferred tax liabilities increased to 225,000, an increase of 125,000 in the current period. Which of the following should be derecognized as a financial asset? A. Entering into a repurchase agreement to sell bondsB. Securities Lending TransactionsC . Non-recourse accounts receivable factoringD. Pledged depositAnswer :C Analysis: Non-recourse factoring realizes the transfer of risk and reward, which can be derecognized, and retains control in other circumstances. If the actual working hours of a production workshop this month are 8,000 hours, the estimated working hours are 10,000 hours, and the fixed manufacturing cost is budgeted at 2 million, the fixed manufacturing cost will be under-allocated as: A. 400,000 B. 500,000 C. 600,000 D. 1.6 million Answer: A analysis: fixed manufacturing cost distribution rate = 2 million/10,000h = 200 yuan/h, less distribution = 200× (10,0008,000) = 400,000 When an enterprise converts real estate for self-use into investment real estate, and the fair value is higher than the book value, the difference should be included in: A. Fair value change gain or lossB. Other comprehensive incomeC. Capital reserveD. Non-operating incomeAnswer :B Analysis: The part of the fair value higher than the book value at the time of conversion is included in other comprehensive income (IFRS regulations). The criteria for determining the segments in the segment report do not include: A. segment revenue accounting for more than 10% of consolidated revenueB. segment profit (loss) absolute value accounting for 10% of consolidated profitC. segment assets accounting for 15% of consolidated total assetsD. Important segment decisions determined by management Answer :C Analysis: The judgment criterion is one of three three parts: 10% of revenue, 10% profit, and 10% of assets, and 15% is a distractor. If a company issues a 5-year bond with interest paid once a year, if the market interest rate rises, the book value of the bond will: A. increase B. decrease C. remain unchanged D. depends on the coupon rate Answer: B Analysis: The market interest rate moves inversely with the value of the bond, and the rise in interest rate leads to a decrease in the present value of the bond. Which of the following is a change in accounting estimates? A. Change of the valuation method of issued inventories from first-in, first-out to weighted averageB. The depreciation period of fixed assets has been adjusted from 10 years to 8 yearsC. Change in the scope of the consolidated statementsD. The time point of revenue recognition is changed from receipt to acceptanceAnswer :B Analysis: The adjustment of depreciation period is a change in accounting estimate, and the others are a change in policy or a change in the reporting entity. A company's net profit for the year is 2 million, the dividend of preferred shares is 200,000, 800,000 ordinary shares are outstanding, 200,000 dilutive potential ordinary shares, and the basic earnings per share are: A. 2.25 yuan B. 2.5 yuan C. 2.0 yuan D. 2.75 yuan Answer: A analysis: basic EPS = (200-20)/80 = 180/80 = 2.25 yuan, diluted EPS needs to consider potential shares. Which of the following should be included in the cost of the product? A. Office expenses of the sales department Workshop Management Salary C. Annual salary of the chairman of the board of directors D. R&D material cost answer: B analysis: The salary of workshop management personnel belongs to manufacturing expenses, which should be included in the cost of products, and other period expenses. When an enterprise receives an asset-related government subsidy, it should be recognized as: A. Amortization of deferred income B. Other income for the current period C. Capital reserve D. Non-operating income Answer: A Analysis: The government subsidy related to assets should be recognized in installments according to the useful life of the asset. Which of the following is a condition for the recognition of "assets held for sale" on the balance sheet? A. Management is willing to sell B. An irrevocable sale agreement has been entered into for the assetsC. The sale is expected to be completed within six months. The fair value of assets can be reliably measuredAnswer: B Analysis: Classified as holding for sale, it is necessary to meet both "immediately sold" and "sale is very likely", and an irrevocable agreement is usually required. A company adopts the standard cost method, the direct material price difference is an unfavorable difference of 50,000 yuan, the amount difference is a favorable difference of 30,000 yuan, and the actual cost is higher than the standard cost: A. an increase of 20,000 yuan B. a decrease of 20,000 yuan C. an increase of 80,000 yuan D. a decrease of 80,000 yuan Answer: A analysis: total difference = price difference + dosage difference = -5 + 3 = -20,000 yuan, and the actual cost is 20,000 yuan higher than the standard cost Which of the following is an adjustment to "operating activities" in the cash flow statement? A. Loss on disposal of fixed assetsB. Increase in inventoriesC. Payment of dividends D. Cash received from bond issuanceAnswer: B Analysis: The increase in inventory is a change in working capital, which is regarded as an adjustment item for operating activities under the indirect method The possible reasons for the increase in the turnover rate of accounts receivable in a company from 6 to 8 times are: A. Relaxation of credit policy B. Strengthening of accounts receivable collection C. Significant increase in sales revenue D. Increase in provision for bad debts Answer: B Analysis: The increase in turnover rate indicates that the recovery of accounts receivable has accelerated, and it is most likely that the collection management has been strengthened In a business combination, the difference between the fair value of the acquiree's identifiable net assets and the cost of the merger shall: A. be recognized as negative goodwill B. be included in profit or loss for the current period C. Adjust capital reserve D. As a deferred income answer: B Analysis: The difference between the purchase consideration and the fair value of the identifiable net assets is directly recognized in the current profit or loss Which of the following should be included in the other equity instruments? A. Convertible Corporate BondsB. Preferred Stock C. Treasury stock D. Warrant Answer: B Analysis: Preferred shares are other equity instruments, and convertible bonds and warrants are hybrid instruments If a company's operating income for the year is 10 million yuan, the operating cost is 6 million yuan, the period expenses are 2 million yuan, and the income tax rate is 25%, the net profit is: A. 1.5 million yuan B. 2 million yuan C. 2.5 million yuan D. 3 million yuan Answer: A analysis: total profit = 1000-600-200 = 2 million, income tax = 200×25% = 500,000, net profit = 200-50 = 1.5 million Which of the following is an accounting policy disclosure? Methodology for significant accounting estimatesB. Effect of changes in accounting policiesC. Statement of contingencies Pricing Policy for Related Party Transactions Answer: B Analysis: Accounting policy disclosures should include policy changes and their impacts, and other options are other disclosures If a company issues convertible bonds, the fair value of the conversion right is 200,000 yuan, and the fair value of the bond part is 800,000 yuan, then the initial recognition amount of the liability component is: A. 800,000 yuan B. 1 million yuan C. 200,000 yuan D. 600,000 yuan Answer: A analysis: The liability component is recognized at the fair value of 800,000 yuan, and the equity component is recognized separately at 200,000 yuan Which of the following is a non-adjusting event after the balance sheet date? A. Significant litigation after the balance sheet date Discovery of asset impairments that already exist at the balance sheet dateC. Major asset restructuring after the balance sheet dateD. Significant accounting errors occurred after the balance sheet dateAnswer :C Analysis: The material asset restructuring occurred in the future period, which has nothing to do with the balance sheet date and is a non-adjusting event A company uses the effective interest rate method to amortize the bond premium, and the interest expense of each period will: A. increase period-by-period B. decrease period-by-period C. remain unchangedD. increase first and then decrease Answer: B Analysis: When the premium is issued, the interest expense decreases period-by-period as the book value of the bond decreases Which of the following is a change in accounting estimates? A. Inventory valuation method changed from first-in, first-out to weighted averageB. The depreciation period of fixed assets has been adjusted from 10 years to 8 yearsC. Change in the scope of the consolidated statementsD. The time point of revenue recognition is changed from receipt to acceptanceAnswer :B Analysis: The adjustment of depreciation period is a change in accounting estimate, and the others are a change in policy or a change in the reporting entity A company's net profit for the year is 2 million, the dividend of preferred shares is 200,000, 800,000 ordinary shares are outstanding, and 200,000 dilutive potential ordinary shares are: A. 2.0 yuan B. 2.25 yuan C. 1.8 yuan D. 2.5 yuan Answer: C analysis: diluted EPS = (200-20) / (80 + 20) = 180 / 100 = 1.8 yuan Which of the following should be included in the cost of the product? A. Office expenses of the sales department Workshop Management Salary C. Annual salary of the chairman of the board of directors D. R&D material cost answer: B analysis: The salary of workshop management personnel belongs to manufacturing expenses, which should be included in the cost of products, and other period expenses When an enterprise receives an asset-related government subsidy, it should be recognized as: A. Amortization of deferred income B. Other income for the current period C. Capital reserve D. Non-operating income Answer: A Analysis: The government subsidy related to assets should be recognized in installments according to the useful life of the asset Which of the following is a condition for the recognition of "assets held for sale" on the balance sheet? A. Management is willing to sell B. An irrevocable sale agreement has been entered into for the assetsC. The sale is expected to be completed within six months. The fair value of assets can be reliably measuredAnswer: B Analysis: Classified as holding for sale, it is necessary to meet both "immediately sold" and "sale is very likely", and an irrevocable agreement is usually required If a company uses activity costing, which of the following is most likely to be identified as a product-level activity? A. Depreciation of machinery Product DesignC. Quality Inspection D. Factory Security Answer: B Analysis: Product design costs are usually related to specific products and belong to product-level operations When preparing the consolidated financial statements, the excess losses of subsidiaries are reflected in the following ways: A. Write-off of the capital reserve of the parent company B. Recognition of deferred tax assets C. Contribution according to the proportion of shareholdings D. Write-down of long-term equity investment is limited to zeroAnswer :D Analysis: The parent company's assumption of the loss of the subsidiary is limited to the write-down of the book value of the investment to zero, and the excess loss is generally not recognized Which of the following is required to be disclosed in the Supplementary Information to the Cash Flow Statement? A. Cash payments to staff Information on reconciling net profit to operating cash flow C. Cash payments for the acquisition of fixed assetsD. The impact of exchange rate changes on cash Answer: B Analysis: The cash flow statement prepared by the indirect method must disclose the process of adjusting net profit to operating cash flow If a lease contract meets the conditions of a financial lease, the lessee should confirm: A. right-of-use assets and lease liabilities B. fixed assets and long-term payables C. prepaid rent and accounts payable D. long-term amortized expenses and financial expensesAnswer :A Analysis: Under the new lease standard, financial leases are recorded as right-of-use assets and lease liabilities The government subsidy received by the enterprise to compensate for the expenses incurred should be included in: A. Deferred income B. Other comprehensive income C. Profit or loss for the current period D. Capital reserve Answer: C Analysis: The government subsidy to compensate for the incurred expenses should be directly included in the current profit or loss (other income). Which of the following assets must be measured at fair value through profit or loss under IFRS? A. Held-to-maturity investment B. Debt instruments at fair value through other comprehensive incomeC. Equity instruments designated as measured at fair value through profit or lossD. Accounts receivable answer: C Analysis: IFRS allows non-trading equity instruments to be designated as "FVPL" (irrevocable), but they need to be directly recorded in profit or loss The foreign currency accounts payable of a company have exchange losses due to exchange rate changes, which should be included in: A. financial expenses B. other comprehensive income C. non-operating expenses D. Deferred exchange gains and losses Answer: A Analysis: The exchange differences of monetary items are directly included in the current profit or loss (financial expenses). The lower of cost and net realizable value method is applicable to: A. trading financial assets B. inventories C. investment real estate D. goodwill answer: B Analysis: Inventory at the end of the period is measured at the lower of cost and net realizable value, and other assets have different measurement rules Which of the following is cash flow from financing activities? A. Payment of interest on bondsB. Disposal of cash received by subsidiaries C. Receipt of equity investment income D. Cash paid for the repurchase of treasury shares Answer: D Analysis: The repurchase of shares is a change in equity and is included in financing activities A company has a deferred income tax liability balance of 100,000 yuan at the beginning of the year, and a new taxable temporary difference of 500,000 yuan (tax rate of 25%) this year, which should be recognized at the end of the year: A. Deferred income tax liability 125,000 B. Deferred income tax expense credit 25,000C. Deferred income tax liability increased by 125,000 D. Taxes payable decreased by 125,000Answer :C Analysis: New difference of 50×25% = 125,000, The balance of deferred tax liabilities increased to 225,000, an increase of 125,000 in the current period Which of the following should be derecognized as a financial asset? A. Entering into a repurchase agreement to sell bondsB. Securities Lending Transaction C. Non-recourse accounts receivable factoringD. Pledge deposit answer: C Analysis: Non-recourse factoring realizes the transfer of risk and reward, which can be terminated, and control is retained in other circumstances If the actual working hours of a production workshop this month are 8,000 hours, the estimated working hours are 10,000 hours, and the fixed manufacturing cost is budgeted at 2 million, the fixed manufacturing cost will be under-allocated as: A. 400,000 B. 500,000 C. 600,000 D. 1.6 million Answer: A analysis: fixed manufacturing cost distribution rate = 2 million/10,000h = 200 yuan/h, less distribution = 200× (10,0008,000) = 400,000 When an enterprise converts its self-occupied real estate into investment real estate, and the fair value is higher than the book value, the difference should be included in: A. Fair value change gain or lossB. Other comprehensive incomeC. Capital reserveD. Non-operating incomeAnswer :B Analysis: The part of the fair value higher than the book value at the time of conversion is included in other comprehensive income (IFRS regulations). The criteria for determining the segments in the segment report do not include: A. segment revenue accounting for more than 10% of consolidated revenueB. segment profit (loss) absolute value accounting for 10% of consolidated profitC. segment assets accounting for 15% of consolidated total assetsD . Important segment decisions determined by management Answer :C Analysis: The judgment criterion is one of three three parts: 10% of revenue, 10% profit, and 10% of assets, and 15% is a distractor If a company issues a 5-year bond with interest paid once a year, if the market interest rate rises, the book value of the bond will: A. increase B. decrease C. remain unchanged D. depends on the coupon rate Answer: B Analysis: The market interest rate moves inversely with the value of the bond, and the rise in interest rate leads to a decrease in the present value of the bond