Admission Test Certified Public Accountant (Financial Accounting & Reporting) 認定 Financial-Accounting-Reporting 試験問題:
1. Mellow Co. depreciated a $12,000 asset over five years, using the straight-line method with no salvage value. At the beginning of the fifth year, it was determined that the asset will last another four years. What amount should Mellow report as depreciation expense for year 5?
A) $2,400
B) $1,500
C) $900
D) $600
2. Conn Co. reported a retained earnings balance of $400,000 at December 31, 1991. In August 1992, Conn determined that insurance premiums of $60,000 for the three-year period beginning January 1, 1991, had been paid and fully expensed in 1991. Conn has a 30% income tax rate. What amount should Conn report as adjusted beginning retained earnings in its 1992 statement of retained earnings?
A) $420,000
B) $440,000
C) $442,000
D) $428,000
3. 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.
Item to Be Answered
Quo changed from FIFO to average cost to account for its raw materials and work in process inventories.
List A (Select one)
A) Neither an accounting change nor an accounting error.
B) Change in accounting estimate.
C) Change in accounting principal.
D) Correction of an error in previously presented financial statements.
4. During a period when an enterprise is under the direction of a particular management, its financial statements will directly provide information about:
A) Management performance but not directly provide information about enterprise performance.
B) Both enterprise performance and management performance.
C) Enterprise performance but not directly provide information about management performance.
D) Neither enterprise performance nor management performance.
5. According to the FASB conceptual framework, the objectives of financial reporting for business enterprises are based on:
A) The needs of the users of the information.
B) The need for conservatism.
C) Generally accepted accounting principles.
D) Reporting on management's stewardship.
質問と回答：
| 質問 # 1 正解： D | 質問 # 2 正解： D | 質問 # 3 正解： C | 質問 # 4 正解： C | 質問 # 5 正解： A |
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