최신 Certified Public Accountant FR 무료샘플문제:

1. The net book value of land and buildings at 31 December 2012 of Ruth Ltd was $56,000. Ruth Ltd revalues its land and building at the end of each accounting year. At 31 December 2012 the land and buildings is revalued to $52,600 into the financial statements. The building's remaining life at 1 January 2012 was 8 years. Ruth Ltd does not make an annual transfer from the revaluation reserve to retained earnings in respect of therealizationof the revaluation surplus.
What is the gain / loss on revaluation of land and buildings as at 31 December 2012? Ignore deferred tax on the revaluation surplus.

A) Revaluation gain $3,600
B) Revaluation loss $3,400
C) Revaluation gain $3,400
D) Revaluation loss $3,600

2. Worcester Ltd had a balance of $2 million as its total equity at 1 January 2012. During the year ended 31 December 2012 the company:
Revalued property with a cost of $2 million and accumulated depreciation of $1,600,000 to $1.5 million
Issued shares with a nominal value of $500,000 at a premium of $100,000
Made a profit for the year of $750,000
In accordance with IAS 1 Presentation of Financial Statements, what is the closing balance on total equity in Worcester Ltd's statement of changes in equity for the year ended 31 December 2012?

A) $4,350,000
B) $4,200,000
C) $4,450,000
D) $3,850,000

3. Harriet Ltd has proposed the following changes to its current accounting practices to be used in its next financial statements.
(i)Motor vehicles have always been depreciated on a straight-line basis. The company has now decided to change to the reducing balance basis as it now believes that this better reflects the consumption of economic benefits.
(ii)In preparing its statement of comprehensive income, Harriet Ltd has previously classified depreciation on motor vehicles as administrative expenses. These depreciation charges are now to be classified under cost of sales as the company now believes that this gives a more reliable and relevant presentation.
According to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors which, if any, of these changes represent a change in accounting policy?

A) Neither of the above
B) (i) only
C) (ii) only
D) Both of the above

4. Which of the following are roles of the IFRS Foundation? (1)To issue IFRS (2)To examine any identified or alleged departures from IFRS (3)To guide the International Accounting Standards Board (IASB) (4)To secure finance

A) (1) and (2)
B) (2) and (4)
C) (1) and (3)
D) (3) and (4)

5. Richard Ltd and McMagoo Inc. trades in shares and securities and are close rivals for many years. Richard Ltd accuses McMagoo Inc. of providing false information related to a particular PH plc's share; though Richard Ltd knows it is not true. McMagoo Inc. sues Richard Ltd. for defamation. Richard's and McMagoo Inc's lawyers agree that it is likely that McMagoo Inc. will win the case and receive damages of an amount of $1.5m. There is no possibility of the case being resolved before the financial statements are finished.
How the above litigation will be represented in the financial statements of both Richard Ltd and McMagoo Inc.?

A) Richard Ltd should ignore as this is too remote. McMagoo Inc. has a contingent asset and should disclose in the financial statements.
B) Richard Ltd should provide for $1.5m. McMagoo Inc. should ignore as this is too remote.
C) Richard Ltd should have a contingent asset and should disclose in the financial statements. McMagoo Inc. should provide for $1.5m.
D) Richard Ltd should provide for $1.5m. McMagoo Inc. has a contingent asset and should disclose in the financial statements.

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