Admission Test Certified Public Accountant (Financial Accounting & Reporting) 認定 Financial-Accounting-Reporting 試験問題:
1. According to the FASB conceptual framework, the process of reporting an item in the financial statements of an entity is:
A) Matching.
B) Recognition.
C) Realization.
D) Allocation.
2. On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with Quo's president and outside accountants, made changes in accounting policies, corrected several errors dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List A represents possible clarifications of these transactions as: a change in accounting principle, a change in accounting estimate, a correction of an error in previously presented financial statements, or neither an accounting change nor an accounting error.
During 1993, Quo increased its investment in Worth, Inc. from a 10% interest, purchased in 1992, to 30%, and acquired a seat on Worth's board of directors. As a result of its increased investment, Quo changed its method of accounting for investment in Worth, Inc. from the cost method to the equity method.
List A
A) Change in accounting principle.
B) Neither an accounting change nor an accounting error.
C) Change in accounting estimate.
D) Correction of an error in previously presented financial statements.
3. In 1990, Brighton Co. changed from the individual item approach to the aggregate approach in applying the lower of FIFO cost or market to inventories. The cumulative effect of this change should be reported in Brighton's financial statements as a:
A) Component of income from continuing operations, without separate disclosure.
B) Component of income from continuing operations, with separate disclosure.
C) Component of income after continuing operations, with separate disclosure.
D) Retrospective adjustment on the retained earnings statement, with separate disclosure.
4. Which of the following assumptions means that money is the common denominator of economic activity and provides an appropriate basis for accounting measurement and analysis?
A) Periodicity.
B) Going concern.
C) Monetary unit.
D) Economic entity.
5. There are multiple active markets for a financial asset with different observable market prices:
There is no principal market for the financial asset. What is the fair value of the asset?
A) $71
B) $74
C) $76
D) $72
質問と回答：
| 質問 # 1 正解： B | 質問 # 2 正解： B | 質問 # 3 正解： D | 質問 # 4 正解： C | 質問 # 5 正解： B |
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