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MIDTERM

IA
19問 • 1年前MIDTERM
  • ユーザ名非公開
    • 通報

    問題一覧

  • 1

    PAS 2 requires inventory to be stated at the lower of cost and

    net realizable value

  • 2

    Why is inventory included in the computation of net income?

    To determine cost of goods sold

  • 3

    Which of the following is a characteristic of a perpetual inventory system?

    Cost of goods sold is recorded with each sale

  • 4

    Which of the following is incorrect about the perpetual inventory method?

    Purchase retums are recorded by debiting accounts payable and crediting purchase returns and allowances

  • 5

    An entry debiting inventory and crediting cost of goods sold would be made when

    Merchandise is returned and the perpetual inventory method is used.

  • 6

    Which of the following should not be taken into account when determining the cost of inventory?

    Recoverable purchase taxes

  • 7

    The cost of inventory does not include

    Salaries of factory staff

  • 8

    Which of the following costs of conversion cannot be included in cost of inventory?

    Salaries of sales staff

  • 9

    Which of the following should be taken into account when determining the cost of inventory?

    Storage cost of part-finished goods

  • 10

    Costs incurred in bringing the inventory to the present location and condition include

    Cost of designing product for specific customers

  • 11

    Inventories encompass all of the following, except

    Land and other property not held for sale

  • 12

    A property developer must classify properties that it holds for sale in the ordinary course of business as

    Inventory

  • 13

    Which of the following should not be reported as inventory?

    Machinery acquired by a manufacturing entity

  • 14

    When determining the cost of an inventory, which of the following should not be included?

    Interest on loan obtained to purchase inventory

  • 15

    Financial asset is measured at FVOCI if it meets?

    Both A and B

  • 16

    In the case of debt Instrument classified as FVOCI, foreign exchange gain or loss is recognized in?

    Profit or loss

  • 17

    When do investments in the instrument be classified as FVOCI?

    when the investments in debt instruments held for collect contractual cash flows and sell if beneficial and solely payment of principal and interest on specified dates

  • 18

    Factory supplies to be consumed in the production process are reported as

    inventory

  • 19

    Which statement is true when a debt investment at amortized cost Is reclassified to FVOCI

    All of the above

    • IA

    IA

    ユーザ名非公開 · 75問 · 1年前

    IA

    IA

    75問 • 1年前
    ユーザ名非公開

    問題一覧

  • 1

    PAS 2 requires inventory to be stated at the lower of cost and

    net realizable value

  • 2

    Why is inventory included in the computation of net income?

    To determine cost of goods sold

  • 3

    Which of the following is a characteristic of a perpetual inventory system?

    Cost of goods sold is recorded with each sale

  • 4

    Which of the following is incorrect about the perpetual inventory method?

    Purchase retums are recorded by debiting accounts payable and crediting purchase returns and allowances

  • 5

    An entry debiting inventory and crediting cost of goods sold would be made when

    Merchandise is returned and the perpetual inventory method is used.

  • 6

    Which of the following should not be taken into account when determining the cost of inventory?

    Recoverable purchase taxes

  • 7

    The cost of inventory does not include

    Salaries of factory staff

  • 8

    Which of the following costs of conversion cannot be included in cost of inventory?

    Salaries of sales staff

  • 9

    Which of the following should be taken into account when determining the cost of inventory?

    Storage cost of part-finished goods

  • 10

    Costs incurred in bringing the inventory to the present location and condition include

    Cost of designing product for specific customers

  • 11

    Inventories encompass all of the following, except

    Land and other property not held for sale

  • 12

    A property developer must classify properties that it holds for sale in the ordinary course of business as

    Inventory

  • 13

    Which of the following should not be reported as inventory?

    Machinery acquired by a manufacturing entity

  • 14

    When determining the cost of an inventory, which of the following should not be included?

    Interest on loan obtained to purchase inventory

  • 15

    Financial asset is measured at FVOCI if it meets?

    Both A and B

  • 16

    In the case of debt Instrument classified as FVOCI, foreign exchange gain or loss is recognized in?

    Profit or loss

  • 17

    When do investments in the instrument be classified as FVOCI?

    when the investments in debt instruments held for collect contractual cash flows and sell if beneficial and solely payment of principal and interest on specified dates

  • 18

    Factory supplies to be consumed in the production process are reported as

    inventory

  • 19

    Which statement is true when a debt investment at amortized cost Is reclassified to FVOCI

    All of the above