UEH Trắc nghiệm kế toán quốc tế 1

CONCEPTUAL FRAMEWORK
Câu Hỏi

1

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In relation to measurement of the elements of financial statements
Select one:
a.
The Framework adopts a mixed attribute accounting model
b.
The Framework includes detailed concepts and principles for selecting which measurement
basis should be used for particular elements of financial statements
c.
Net realisable value is the preferred basis for measurement of assets
d.
The Framework acknowledges that a variety of measurement bases are used to different
degrees and in varying combinations in financial statements

Phản hồi
The correct answer is: The Framework acknowledges that a variety of measurement bases
are used to different degrees and in varying combinations in financial statements

Câu Hỏi

2

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If management intends to liquidate the entity’s operations, financial statements are
prepared on the basis of
Select one:
a.


Financial statements do not have to be prepared
b.
Historical cost with a note that the entity is about to liquidate
c.
Expected liquidation values

d.
Historical cost
Phản hồi
The correct answer is: Expected liquidation values

Câu Hỏi

3

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The going concern assumption underlying the preparation of financial statements is
also know as:
Select one:
a.
the prudence principle
b.
the continuity assumption

c.
the historical cost measurement basis
d.
the matching principle
Phản hồi
The correct answer is: the continuity assumption


Câu Hỏi

4

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The accountant is aware that some members of the Board of Lee have little
understanding of accounting and he is worried about his presentation of the
financial statements at the Board meeting. How should he deal with this situation?
Select one:
a.
He should classify, characterise and present the information clearly and precisely.
b.
He should deliver his presentation just to those who are financially qualified.
c.
In doing his presentation he should omit any complex issues, so that everybody can
understand what he is saying.

d.
He should open his presentation with the advice that some of them may not understand all
of it.
Phản hồi
The correct answer is: He should classify, characterise and present the information clearly
and precisely.

Câu Hỏi

5

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The company's statement of profit or loss prepared using historical costs showed a

loss from operating its shops, but the company is aware that the increase in the
value of its properties during the period far outweighed the operating loss. Because
loss on operating the shops, the accountant is considering the issue of going
concern. If it were decided that this company was no longer a going concern at the


reporting date, which of the following would apply in accordance with the
Conceptual Framework?
Select one:
a.
The financial statements should be prepared on a different basis.

b.
All the assets should be liquidated.
c.
The financial statements should be prepared as normal and the going concern status
disclosed in the notes.
d.
Financial statements do not need to be prepared.
Phản hồi
The correct answer is: The financial statements should be prepared on a different basis.

Câu Hỏi

6

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Recognition is the process of including within the financial statements items which
meet the definition of an element according to the IASB’s Conceptual Framework for
Financial Reporting. Which of the following items should be recognised as an asset
in the statement of financial position of a company?
Select one:
a.
A highly lucrative contract signed during the year which is due to commence shortly after
the year end
b.
A government grant relating to the purchase of an item of plant several years ago which has
a remaining life of four years
c.


A skilled and efficient workforce which has been very expensive to train. Some of these staff
are still in the employment of the company
d.
A receivable from a customer which has been sold (factored) to a finance company. The
finance company has full recourse to the company for any losses

Phản hồi
The correct answer is: A receivable from a customer which has been sold (factored) to a
finance company. The finance company has full recourse to the company for any losses

Câu Hỏi

7

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The company's statement of profit or loss prepared using historical costs showed a
loss from operating its shops, but the company is aware that the increase in the
value of its properties during the period far outweighed the operating loss. The
accountant decides that the properties should be revalued. Which concept or
qualitative characteristic has been applied in making this decision?
Select one:
a.
Materiality
b.
Timeliness
c.
Going concern
d.
Relevance

Phản hồi
The correct answer is: Relevance


Câu Hỏi

8

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Which of the following is NOT a duty of the IFRS Interpretations Committee?
Select one:
a.
To publish draft interpretations for public comment
b.
To work directly with national standard setters to bring about convergence with IFRS

c.
To provide guidance on financial reporting issues not specifically addressed in IFRSs
d.
To interpret the application of International Financial Reporting Standards
Phản hồi
The correct answer is: To work directly with national standard setters to bring about
convergence with IFRS

Câu Hỏi

9

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The measurement method most commonly used in the preparation of financial
statements is:
Select one:
a.
realisable value
b.
present value


c.
historical cost

d.
current cost
Phản hồi
The correct answer is: historical cost

Câu Hỏi

10

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Which of the following statements is INCORRECT in relation to the recognition
criteria for elements of the financial statements?
Select one:

a.
Assets are recognised when it is probable that future economic benefits will flow to the
entity and the asset has a cost or value that can be measured reliably
b.
Income is recognised when an increase in future economic benefits related to a decrease in
an asset or an increase in a liability that has arisen can be measured reliably
c.
Liabilities are recognised when it is probable that an outflow of resources embodying
economic benefits will result from the settlement of a present obligation and the amount at
which settlement will take place can be measured reliably
d.
Because equity is the arithmetic difference between assets and liabilities, a separate
recognition criteria for equity is not needed in The Framework

Phản hồi
The correct answer is: Income is recognised when an increase in future economic benefits
related to a decrease in an asset or an increase in a liability that has arisen can be
measured reliably


Câu Hỏi

11

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An asset is defined in the conceptual framework as:
Select one:
a.
a resource controlled by the entity as a result of future events and from which possible
future economic benefits may flow to the entity
b.
a resource controlled by the entity from which future economic benefits are expected to flow
to the entity

c.
a resource controlled by the entity as a result of past events
d.
a resource controlled by the entity as a result of past events and from which future
economic benefits are expected to flow to the entity
Phản hồi
The correct answer is: a resource controlled by the entity as a result of past events and from
which future economic benefits are expected to flow to the entity

Câu Hỏi

12

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In relation to the concept of recognition of an item in the financial statements:
Select one:

a.
Items of equity must satisfy both the probability and measurement criteria before they can
be recognised


b.
For items to qualify for recognition in the financial statements as liabilities or income they
must first satisfy the definition of an element, and then meet both the probability and
measurement requirements in relation to recognition
c.
Assets can only be recognised where there is a high probability of future economic benefits
flowing to the entity

d.
Expenses are recognised when a decrease in a future economic benefit related to an
increase in an asset or a decrease in a liability has arisen that can be measured reliably
Phản hồi
The correct answer is: For items to qualify for recognition in the financial statements as
liabilities or income they must first satisfy the definition of an element, and then meet both
the probability and measurement requirements in relation to recognition

Câu Hỏi

13

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The Framework focuses on:
Select one:
a.
privately owned business entities only
b.
business entities, although the concepts may be applied to other types of entities, such as
not-for profit entities
c.
all types of entities, including business entities, government and not-for profit entities

d.
business entities only, including private and state owned business entities


Phản hồi
The correct answer is: business entities only, including private and state owned business
entities

Câu Hỏi

14

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General Purpose Financial Statements:

Select one:
a.
are only necessary for users who do not have the power to obtain information in addition to
that contained within the General Purpose Financial Statement
b.
focus on disclosing information relevant to assessing the ability of an entity to generate
future cash flows
c.
meet the information needs that are common to all users
d.
provide all the information that users may need to make economic decisions

Phản hồi
The correct answer is: meet the information needs that are common to all users

Câu Hỏi

15

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Which of the following statements is INCORRECT?
Select one:
a.
The Framework defines the objective of financial statements.

b.
The Framework defines the basic elements of financial statements and the concepts for
recognizing and measuring them in financial statements.
c.
The Framework defines principles for accounting recognition, measurement and disclosure.
d.
The Framework identifies the qualitative characteristics that make information in financial
statements useful.
Phản hồi
The correct answer is: The Framework defines principles for accounting recognition,
measurement and disclosure.

Câu Hỏi

16

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Sold an asset to a finance company and leased it back for the remainder of its
useful life. The accountant has decided that this should be treated as a secured
loan. Which concept or qualitative characteristic has influenced the decision above?
Select one:
a.
Comparability
b.

Faithful representation

c.
Accruals
d.
Verifiability
Phản hồi
The correct answer is: Faithful representation


Câu Hỏi

17

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The Conceptual Framework identifies an underlying assumption in preparing
financial statements. This is:
Select one:
a.
Going concern

b.
Materiality
c.
Accruals

d.
Substance over form
Phản hồi
The correct answer is: Going concern

Câu Hỏi

18

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Which of the following bodies report to the IFRS Foundation?
Select one:
a.
The IASB and the FASB
b.
The IASB and the IFRS Advisory Council


c.
The IASB, AASB and the IFRS Advisory Council
d.
The IASB and AASB
Phản hồi
The correct answer is: The IASB and the IFRS Advisory Council

Câu Hỏi

19

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A liability is defined in conceptual framework as:
Select one:
a.
a present obligation of the entity arising from past events, the settlement of which is
expected to result in an outflow from the entity of resources embodying economic benefits.

b.
a possible obligation of the entity expected to arise from future events, the settlement of
which is expected to result in an outflow from the entity of resources embodying economic
benefits.
c.
a present obligation of the entity arising from past events, the settlement of which is
expected to result in an inflow to the entity of resources embodying economic benefits.
d.
possible obligation of the entity, the settlement of which is expected to result in an outflow
from the entity of resources embodying economic benefits.
Phản hồi
The correct answer is: a present obligation of the entity arising from past events, the
settlement of which is expected to result in an outflow from the entity of resources
embodying economic benefits.

Câu Hỏi

20

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Information that is able to confirm or correct past evaluations that have been made
by users of financial information is an example of information that satisfies which of
the following characteristics of financial information identified in The Framework?
Select one:
a.
Comparability
b.
Relevance

c.
Understandability
d.
Verifiability
Phản hồi
The correct answer is: Relevance

IMPAIRMENT
Câu Hỏi

1

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Technique Co. has equipment with a carrying amount of €800,000. The equipment’s
fair value less costs to sell is €780,000, and its value-in-use is €815,000. The
equipment is expected to be used in operations in the future. What amount (if any)
should Technique report as an impairment to its equipment?
Select one:
a.


€20,000
b.
€35,000
c.
No impairment should be reported.

d.
All are incorrect
e.
€15,000
Phản hồi
The correct answer is: No impairment should be reported.

Câu Hỏi

2

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Orton Corporation, which has a calendar year accounting period, purchased a new
machine for €40,000 on April 1, 20x4. At that time Orton expected to use the
machine for nine years and then sell it for €4,000. The machine was sold for
€22,000 on Sept. 30, 20x9. Assuming straight-line depreciation, no depreciation in
the year of acquisition, and a full year of depreciation in the year of retirement, the
gain to be recognized at the time of sale would be:
Select one:
a.
€2,000

b.
€3,000
c.
€4,000
d.


All are incorrect
e.
€0

Phản hồi
The correct answer is: €2,000

Câu Hỏi

3

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When an asset is measured using the revaluation model, any impairment loss is
treated as:
Select one:
a.
an addition to depreciation expense
b.
a revaluation decrement

c.
a set-off against depreciation expense
d.
a revaluation increment
Phản hồi
The correct answer is: a revaluation decrement

Câu Hỏi

4

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At reporting date, the carrying amount of a cash-generating unit was considered to
be have been impaired by $900. The unit included the following assets: Land $4000;
Plant $3000; Goodwill $500. The amount of impairment allocated to land is:


Select one:
a.
$229

b.
$200
c.
$514
d.
$300
Phản hồi
The correct answer is: $229

Câu Hỏi

5

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When assessing the recoverable of assets that have previously been subject to an
impairment loss, which of the following indicators assist in providing external
evidence that an impairment loss has reversed:
Select one:
a.
the asset’s market value has decreased significantly during the period
b.
internal reporting sources indicate that the economic performance of the asset will not be as
good as expected.
c.
significant changes with an adverse effect on the entity have taken place
d.
market interest rates have decreased during the period


Phản hồi
The correct answer is: market interest rates have decreased during the period

Câu Hỏi

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An appropriate journal entry to recognise an impairment loss under the cost model
is:
Select one:
a.
DR Impairment loss and CR Accumulated depreciation and impairment losses

b.
DR Accumulated impairment losses and CR Asset revaluation (Equity)
c.
DR Accumulated impairment losses and CR Impairment loss
d.
DR Revenue and CR Impairment loss
Phản hồi
The correct answer is: DR Impairment loss and CR Accumulated depreciation and
impairment losses

Câu Hỏi

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Jam Pty Ltd has two cash generating units. CGU A had a carrying amount of €700
and value in use of €750. CGU B has a carrying amount of €900 and a value in use
of €800. The carrying amount of the head office assets is €400. CGUs A and B utilise
the head office services equally. The impairment loss for CGU A is:
Select one:


a.
€150

b.
€0
c.
€350
d.
€50
Phản hồi
The correct answer is: €150

Câu Hỏi

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On January 1, 2018, Fredrichs Inc. purchased equipment with a cost of €3,060,000,

a useful life of 12 years and no salvage value. The company uses straight-line
depreciation. At December 31, 2018, the company determines that impairment
indicators are present. The fair value less cost to sell the asset is estimated to be
€2,600,000. The asset’s value-in-use is estimated to be €2,365,000. There is no
change in the asset’s useful life or salvage value. The 2018 income statement will
report Loss on Impairment of:
Select one:
a.
€205,000

b.
€0
c.
€460,000
d.


€440,000
e.
All are incorrect
Phản hồi
The correct answer is: €205,000

Câu Hỏi

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IAS 36 Impairment of Assets suggests how indications of impairment might be recognised.
Which TWO of the following would be external indicators that one or more of an entity's assets
may be impaired?
Select one or more:
a.
An unusually significant fall in the market value of one or more assets

b.
Evidence of obsolescence of one or more assets
c.
A decline in the economic performance of one or more assets
d.
An increase in market interest rates used to calculate value in use of the assets

Phản hồi
Câu trả lời của bạn đúng
The correct answers are: An unusually significant fall in the market value of one or more
assets, An increase in market interest rates used to calculate value in use of the assets

Câu Hỏi

10

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