QUALI (3)

49問 • 6ヶ月前

問題一覧

Parties are related if one party has the ability to affect the financial and operating decisions of the other party through?

d. both b and c

Are those persons having authority and responsibility for planning, directing, and controlling the activities of the entity

key management personnel

The one who may be expected to imfluemce or be influenced by, the person in his/her dealings with reporting entity

close family member

A parent subsidiaries relationship is disclosed even if there have been no transaction between them during the period

true

It is a transfer of resources, services or obligation between a reporting entity and a related party

related party transaction

Which of the following best indicates that two parties are related for purposes of PAS 24? .

a.)One party has the ability to affect the financial and operating decisions of the other party through control, significant influence or joint control

Which of the following are not related parties?

a Two co-venturers of a common joint venture business

Which of the following is not a required disclosure under PAS 24?

d. Related party transactions (in the consolidated financial statements)

These are all applies to PAS 26 except one

PAS 26 views a retirement benefit plan as a reporting entity not separate from the employers of the participants in the plan

According to PAS 27, investments in subsidiaries, associates or joint ventures are accounted for in the separate financial statements .

d, any of these, as a matter of accounting policy choice.

According to PAS 27, which of the following is required to present separate financial statements?

d. None of these

PAS 27 does not mandate which entities should produce separate financial statement

true

An entity over which the investor has significant influence

associate

It is the power to participate in the financial and operating policy decisions of the invested but is not control or joint control of those policies

significant influence

When an investors starts using the equity method?

from the date when it obtains significant influence or joint control over an investee

In equity method in PAS 28, if cost is greater than the fair value of the interest acquired, the excess is

goodwill

An entity stops using the equity method as from the date when it loses significant influence or joint control

true

It is one whose ordinary shares or potential ordinary shares are traded in public market

publicly listed entity

Nom publicly listed entity are not required to present EPS information. However, if they choose to do so, they will need to apply PAS 33

true

It is a computation made for ordinary shares. It is a form of profitability ratio which provides a measure of how much profit or loss the ordinary share earned or incurred

earnings per share

What does pas 34 prescribe for an interim financial report

minimum

Which entities are encouraged to provide at least a financial report for the first half of the year according to the reference text?

publicly listed entities

What is the timeframe within which SEC and PSE require certain entities to provide quarterly financial report in interim financial report?

45 days

What does PAS 34 encourage regarding the disclosure of financial information for highly seasonal businesses?

disclosure for the latest 12months

In PAS 34, What is the timeframe within which SEC requires entities covered under the Rules of Commercial Papers and Financing Act to file quarterly financial reports?

quarterly

In PAS 34, messurement in the interim period are made on

year to date basis

Are incremental cost directly attributable to the disposal of an asset or cash generating unit

costs of disposal

It is the present value of thr future cash flow expected to be derived from an asset or cash generating unit

value in use

The following assets are required to be tested for impairment at least annually even if there are no indications for impairment except one

d. decrease in market interest rates

PAS 36 is applied to the accounting for impairment of which of the following assets?

d. Property, plant and equipment measured under the revaluation model

According to PAS 36, an asset is impaired if the asset's

a) carrying amount exceeds its recoverable amount.

Recoverable amount is the asset's

d. higher of a and b

It is a liability of uncertain timing or amount

provision

How a provision presented in the statement of financial position under PAS 37?

separate

A provision is recognized when all of the following conditions are met except one

theres an executory contract

A past event that creates a present obligation is called

obligating event

In PAS 37, the only liabilities recognized in an entity’s statements of financial position are those that exist at

the end of the reporting period

It is a business document or written authorization that supports every disburseme made by an entity

voucher

It is a report that is prepared for purpose of bringing the balance of cash per records and per bank statement

bank reconciliation

Are additions made by the bank to the depositors bank account but not yet recorded by the depositor

credit memo

Are deductions made by the bank to the depositors bank account but not yet recorded by the depositor

debit memo

Are checks drawn and released to payees but are not yet encashed with the bank

outstanding check

Are delosit made but not yet credited by the bank to the depositors bank account

deposit in transit

Receivables are intially recognized at

fair value plus transaction costs

Ownership over this goods is transferred to the buyer upon shipment

FOB Shipping point

Ownership is transferred only when the buyer receives the goods

FOB Destination

Are given to encourage orders in large quantities or to avoid frequent changes

trade discount

Are given to encourage prompt payment

cash discount

An investment property is initially measured at

cost

Cfas (overview of accounting)

ユーザ名非公開 · 75問 · 11ヶ月前

Cfas (overview of accounting)