中級(jí)財(cái)務(wù)會(huì)計(jì)單元測(cè)試題1及答案

一、單選題1、?Whichofthefollowingisafinancialliability?()A.Accountspayable.B.Incometaxespayable.C.Warranties.D.Amagazinepublisher'sobligationtoprovidethemagazinemonthlyforanagreed-uponperiod.正確答案：A2、?Whichisanexampleofaliability?()A.Selectingthesuppliertoprovidetherawmaterialsforthemanufacturingprocess.B.Thedecisiontoborrow$150,000fromtheABCBankonJanuary15,2013.C.Choosingthesiteforafutureplantexpansionfromalistofseveralpossiblechoices.D.Withdrawing$10,000fromtheoperatinglineofcreditonJanuary15,2013.正確答案：D3、?Whichofthefollowingiscorrectabouta"liability"underIFRSFramework?()A.Apresentobligationarisingfrompastevents,thesettlementofwhichisexpectedtoresultinaninflowofresources.B.Apresentobligationarisingfrompastevents,thesettlementofwhichisexpectedtoresultinanoutflowofresources.C.Apastobligationarisingfrompastevents,thesettlementofwhichisexpectedtoresultinanoutflowofresources.D.Afutureobligationarisingfrompastevents,thesettlementofwhichisexpectedtoresultinaninflowofresources.正確答案：B4、?WhichstatementiscorrectundertheIFRSdefinitionfora"liability"?()A.Theobligatingeventmustbeprobablebeforetheliabilitycanberecognized.B.Aprecisemeasureoftheobligationmustexistbeforetheliabilitycanberecognized.C.Areliablemeasureoftheobligationmustexistbeforetheliabilitycanberecognized.D.Theobligatingeventmustbevirtuallycertainbeforetheliabilitycanberecognized.正確答案：C5、?Whichisnotanexampleofafinancialliability?()A.Obligationunderacustomerloyaltyprogram.B.Paymenttosupplierforrawmaterialreceived.C.Obligationunderafinancelease.D.ObligationtorepayaUSdollarbankloan.正確答案：A6、Fora$200,000tradepayablewithtermsof2/15,net50,howmuchwouldbereportedas"purchasediscountlost"underthenetmethodifapaymentwasmadeafter60days?()A.$4,000B.$30,000C.$5,000D.$0正確答案：A解析：A、Explanation:(200,000×2%)7、?Whichstatementiscorrect?()A.Whenthenetmethodisused,thepayableisrecordedattheinvoicedamount.B.Supplierdiscountscanonlybeaccountedforbyusingthenetmethod.C.Fromatheoreticalperspective,thenetmethodshouldbeusedasforgonediscountsareafinancingcostD.Whenthegrossmethodisused,thepayableisrecordedattheinvoicedamountlessthediscount正確答案：C8、OnMarch1,20X0,Gcompanyissueda$20,000,non-interestbearingnote,dueonMarch1,20X1,inexchangeforamachine.Thefairvalueofthemachineisnoteasilydeterminable.Themarketrateofinterestforsimilartransactionsis4%.G’syear-endisDecember31.Whichstatementiscorrect?()A.Attheissuancedate,thecompanyshouldCreditNotePayable19,231.B.Attheissuancedate,thecompanyshouldDebitNotePayable19,231C.Attheissuancedate,thecompanyshouldCreditNotePayable20,000.D.Attheissuancedate,thecompanyshouldDebitNotePayable20,000.正確答案：A9、OnMarch,20X0,Gcompanyissueda$20,000,non-interestbearingnote,dueonMarch1,20X1,inexchangeforamachine.Thefairvalueofthemachineisnoteasilydeterminable.Themarketrateofinterestforsimilartransactionsis4%.G’syear-endisDecember31.Whichstatementiscorrect?()A.TorecordtheaccrualofinterestatDecember31,20X0,thecompanyshouldDebitNotepayable769andCreditinterestexpense769.B.TorecordtheaccrualofinterestatDecember31,20X0,thecompanyshouldDebitinterestexpense641andCreditNotepayable641.C.TorecordtheaccrualofinterestatDecember31,20X0,thecompanyshouldDebitinterestexpense769andCreditNotepayable769.D.TorecordtheaccrualofinterestatDecember31,20X0,thecompanyshouldDebitNotepayable641andCreditinterestexpense641.正確答案：B10、InDecember20X0,ashoestoreoffereditscustomersadiscountvoucherthatentitlesthemtoa30%discountontheirpurchasesthefollowingJanuary.Thestore'ssalesforDecember20X0,wereof$2millionand15,000voucherswereawardedtocustomers.ThestoreestimatesthatthesaleproceedsinJanuary2018willbeof$1.5millionandapproximately20%ofthesalewillberelatedbyvouchers.Whichstatementiscorrect?()A.Thejournalentryat20X0:DebitRevenue1,880,000B.Thejournalentryat20X0:CreditRevenue1,910,000C.Thejournalentryat20X0:DebitRevenue1,910,000D.Thejournalentryat20X0:CreditRevenue1,880,000正確答案：B11、?Salesmadeinfiscal20X0for$50,000,000includea5yearwarrantycoverage.Theestimatedcostforwarrantyisexpectedtobe2%forthefirst4yearsand5%forthelastyear.Determinehowmuchwarrantyexpensewillberecordedinfiscal20X0.()A.4,000,000B.1,000,000C.6,500,000D.5,000,000正確答案：C解析：C、(50million×[(2%×4)+5%])12、?Whichstatementaboutwarrantiesiscorrect?()?A.WarrantiesincludedwiththeproductsoldareaccountedforunderIFSR15.B.Warrantiesarefinancialliabilities.C.Warrantiesareprovisions.D.Companiesonlyusecashbasismethodtoaccountforwarrantycosts.正確答案：C13、?Whichstatementaboutcontingentliabilitiesiscorrect?()?A.Itisaconditionthatdependsupontheoutcomeofananticipatedevent.B.Itisapossibleobligationthatarisesfrompasttransactionsandevents.C.Itisanobligationthatarisesfrompasttransactionsandevents.D.Itinvolvesuncertaintyabouteitherthetimingortheamountofpayment.正確答案：B14、?Whichstatementiscorrectaboutprovisions,contingentassetsandcontingentliabilities?()A.Provisionsarerecordedinthefinancialstatementswhereascontingentassetsarenotrecorded.B.Provisionsarerecordedinthefinancialstatementswhereascontingentliabilitiesarenotrecorded.C.Probablecontingentassetsarerecordedatmanagement'sbestestimates.D.Probablecontingentliabilitiesarerecordedatmanagement'sbestestimates.正確答案：A15、?Whatare"non-currentliabilities"?()A.Obligationsthatareexpectedtobesettledmorethan24monthsafterthecompany'syear-end.B.Obligationsthatareexpectedtobesettledwithinthenext12months.C.Obligationsthatareexpectedtobesettledinthenextoperatingcycleofthecompany.D.Obligationsthatareexpectedtobesettledmorethan12monthsafterthecompany'syear-end.正確答案：D16、?Whichstatementiscorrectaboutfinancialleverage?()A.Ithasnothingtodowiththerelationshipbetweentherelativelevelofafirm'sdebtanditsequitybase.B.Itreducesthelevelofriskexposureoftheshareholders.C.Itquantifiestherelationshipbetweentherelativelevelofafirm'sdebtanditsequitybase.D.Itreducestheriskofbankruptcytothecompany.正確答案：C17、?Whichstatementiscorrectaboutthefinancialleverageofacompanywithanequitybaseof$400,000?()A.Thereturnonequityofthecompanywillbehigherifithasalowerleverage.B.Acompanythatborrows$150,000ismoreleveragedthanacompanythatborrows$250,000.C.Acompanythatborrows$250,000ismoreleveragedthanacompanythatborrows$150,000.D.Thereturnonequityofthecompanyisunaffectedbythefinancialleverage.正確答案：C18、?Whatisthe"bestefforts"approach?()A.Featurethatpermitstheissuertoredeembeforematurity.B.Broker'sguaranteeofthepricetotheborrower.C.Debtthatisbackedbyspecificcollateral.D.Brokersellsasmuchofthedebtissueaspossible.正確答案：D19、?Whatis"firmcommitment"underwriting?()A.Featurethatpermitstheborrowertoredeembeforematurity.B.Broker'sguaranteeofthepricetotheborrower.C.Brokersellsasmuchofthedebtissueaspossible.D.Debtthatisbackedbyspecificcollateral.正確答案：B20、?Whatisa"covenant"?()A.Promisefromtheborrowertorestrictcertainactivities.B.Featurethatpermitstheissuertoredeembeforematurity.C.Contractthatoutlinesthetermsoftheborrowingagreement.D.Guaranteeofthepricetotheborrower.正確答案：A21、?Whatistheeffectiveinterestrate?()A.Amounttoberepaidatmaturity.B.Priceofbondonissuedate.C.Interestratespecifiedinthebondindenture.D.Yieldontheissuedate.正確答案：D22、?A$100,0005-year6%bondisissuedonJanuary1,2017.Thebondpaysinterestannually.Themarketrateis8%.Whatisthesellingpriceofthebonds,roundedtonearestdollar?()A.$100,000B.$108,425C.$92,014D.$7,986正確答案：C解析：PVofcouponpayments:6,000PVAV(8%,5)=6,000×3.99271=23,956PVofprincipalrepayment:100,000PV(8%,5)=100,000×