0CHAPTER 1: INTRODUCTION TO ACCOUNTING,

Câu 1: Which of the following statements best defines a statement of financial position?
[<$>] It is a summary of income and expenditure for an accounting period
[<$>] It is a summary of cash receipts and payments made during an accounting period
[<$>] It is a summary of assets, liabilities and equity at a specified date
[<$>] It is a summary of assets and expenses at a specified date
Câu 1: Câu nào sau đây xác định đúng nhất báo cáo tình hình tài chính?
[<$>] Đây là bản tóm tắt thu nhập và chi tiêu cho một kỳ kế toán
[<$>] Đây là bảng tổng hợp các khoản thu và chi tiền mặt được thực hiện trong một kỳ kế toán
[<$>] Đây là bản tóm tắt về tài sản, nợ phải trả và vốn chủ sở hữu tại một ngày cụ thể
[<$>] Đây là bản tóm tắt tài sản và chi phí tại một ngày cụ thể
Câu 2: Which one of the following user groups is likely to require the most detailed financial
information?
[<$>] The management
[<$>] Investors and potential investors
[<$>] Government agencies
[<$>] Employees
Câu 2: Nhóm người dùng nào sau đây có khả năng yêu cầu tài chính chi tiết nhất
thông tin?
[<$>] Ban quản lý
[<$>] Các nhà đầu tư và các nhà đầu tư tiềm năng
[<$>] Cơ quan chính phủ
[<$>] Nhân viên
Câu 3: Which of the following statements are true?
(1) Accounting can be described as the recording and summarising of transactions.
(2) Financial accounting describes the production of a statement of financial position and
statement of profit or loss for internal use.
[<$>] (1) only
[<$>] (2) only
[<$>] Both (1) and (2)
[<$>] None
Câu 3: Phát biểu nào sau đây là đúng?
(1) Kế toán có thể được mô tả là việc ghi chép và tổng hợp các giao dịch.
(2) Kế toán tài chính mô tả việc lập một báo cáo tình hình tài chính và
báo cáo lãi hoặc lỗ sử dụng nội bộ.
[<$>] (1) chỉ
[<$>] (2) chỉ
[<$>] Cả (1) và (2)
[<$>] Không có
Câu 4: What is the main purpose of financial accounting?
[<$>] To record all transactions in the books of account
[<$>] To provide management with detailed analyses of costs
[<$>] To enable preparation of financial statements that provides information about an entity’s
financial performance and position
[<$>] To calculate profit or loss for an accounting period
Câu 4: Mục đích chính của kế toán tài chính là gì?
[<$>] Để ghi lại tất cả các giao dịch trong sổ tài khoản
[<$>] Để cung cấp cho ban quản lý các phân tích chi tiết về chi phí
[<$>] Để cho phép lập báo cáo tài chính cung cấp thông tin về một đơn vị hiệu quả tài chính và
vị thế
[<$>] Để tính toán lãi hoặc lỗ cho một kỳ kế toán
Câu 5: Which of the following is not a step in the accounting process?
[<$>] Analyzing
[<$>] Verification
[<$>] Recording
[<$>] Summarizing
Câu 5: Bước nào sau đây không phải là một bước trong quy trình kế toán?
[<$>] Đang phân tích
[<$>] Xác minh
[<$>] Đang ghi
[<$>] Tóm tắt
Câu 6: Which of the following statements about users of accounting information is
INCORRECT?
[<$>] Management is an internal user
[<$>] Taxing authorities are external users.
[<$>] Present creditors are external users
[<$>] Regulatory authorities are internal users
Câu 6: Phát biểu nào sau đây về người sử dụng thông tin kế toán là SAI?
[<$>] Ban quản lý là người dùng nội bộ
[<$>] Cơ quan thuế là người dùng bên ngoài.
[<$>] Chủ nợ hiện tại là người dùng bên ngoài
[<$>] Cơ quan quản lý là người dùng nội bộ
Câu 7: Which of the following events is not recorded in the accounting records?
[<$>] Equipment is purchased on account
[<$>] An employee is terminated
[<$>] A cash investment is made into the business
[<$>] The owner withdraws cash for personal use
Câu 7: Sự kiện nào sau đây không được ghi vào sổ sách kế toán?
[<$>] Thiết bị được mua trên tài khoản
[<$>] Một nhân viên bị chấm dứt hợp đồng
[<$>] Đầu tư tiền mặt vào doanh nghiệp
[<$>] Chủ sở hữu rút tiền mặt để sử dụng cá nhân
Câu 8: Which of the following statements is FALSE?
[<$>] A statement of cash flows summarizes information about the cash inflows (receipts) and
outflows (payments) for a specific period of time
[<$>] A statement of financial position reports the assets, liabilities, and owner’s equity at a
specific date.
[<$>] An income statement presents the revenues, expenses,changes in owner’s equity, and
resulting net income or net loss for a specific period of time.
[<$>] An statement of changes in equity summarizes the changes in owner’s equity for a specific
period of time.
Câu 8: Phát biểu nào sau đây là SAI?
[<$>] Báo cáo lưu chuyển tiền tệ tóm tắt thông tin về các dòng tiền vào (biên lai) và
dòng ra (thanh toán) trong một khoảng thời gian cụ thể
[<$>] Báo cáo tình hình tài chính báo cáo tài sản, nợ phải trả và vốn chủ sở hữu tại một
ngày cụ thể.
[<$>] Báo cáo thu nhập trình bày các khoản doanh thu, chi phí, những thay đổi trong vốn chủ sở
hữu và dẫn đến thu nhập ròng hoặc lỗ ròng trong một khoảng thời gian cụ thể.
[<$>] Một báo cáo về những thay đổi trong vốn chủ sở hữu tóm tắt những thay đổi trong vốn chủ
sở hữu cho một khoảng thời gian.
Câu 9: The financial statement that reports assets, liabilities, and owner’s equity is the
[<$>] Income statement
[<$>] Statement of changes in equity
[<$>] Statement of financial position
[<$>] Statement of cash flows.
Câu 9: Báo cáo tài chính báo cáo tài sản, nợ phải trả và vốn chủ sở hữu là
[<$>] Báo cáo thu nhập
[<$>] Tuyên bố về những thay đổi trong vốn chủ sở hữu
[<$>] Báo cáo tình hình tài chính
[<$>] Báo cáo lưu chuyển tiền tệ
Câu 10: Which accounting concept should be considered if the owner of a business takes goods
from inventory for his own personal use?
[<$>] The fair presentation concept
[<$>] The accruals concept
[<$>] The going concern concept
[<$>] The business entity concept
Câu 10: Nên xem xét khái niệm kế toán nào nếu chủ doanh nghiệp lấy hàng từ hàng tồn kho để
sử dụng cá nhân của riêng mình?
[<$>] Khái niệm trình bày công bằng
[<$>] Khái niệm cộng dồn
[<$>] Khái niệm về mối quan tâm liên tục
[<$>] Khái niệm pháp nhân kinh doanh

Câu 11: Sales revenue should be recognised when goods and services have been supplied; costs
are incurred when goods and services have been received.
Which accounting concept governs the above?
[<$>] The business entity concept
[<$>] The materiality concept
[<$>] The accruals concept
[<$>] The duality concept
Câu 11: Doanh thu bán hàng phải được ghi nhận khi hàng hóa và dịch vụ đã được cung cấp; chi
phíđược phát sinh khi hàng hóa và dịch vụ đã được nhận.
Khái niệm kế toán nào chi phối các điều trên?
[ < $ > ] Khái niệm thực thể kinh doanh
[ < $ > ] Khái niệm trọng yếu
[ < $ > ] Nguyên tắc kế toán khi phát sinh
[ < $ > ] Khái niệm tính hai mặt
Câu 12: Which accounting concept states that omitting or misstating this information could
influence users of the financial statements?
[<$>] The consistency concept
[<$>] The accruals concept
[<$>] The materiality concept
[<$>] The going concern concept
Câu 12: Khái niệm kế toán nào nói rằng việc bỏ sót hoặc khai báo sai thông tin này có thể
ảnh hưởng đến người sử dụng báo cáo tài chính?
[<$>] Khái niệm nhất quán
[<$>] Khái niệm cộng dồn
[<$>] Khái niệm trọng yếu
[<$>] Khái niệm về mối quan tâm liên tục
Câu 13: Which of the following accounting concepts means that similar items should receive a
similar accounting treatment?
[<$>] Going concern
[<$>] Accruals
[<$>] Matching
[<$>] Consistency
Câu 13: Khái niệm kế toán nào sau đây có nghĩa là các khoản mục tương tự sẽ nhận được
xử lý kế toán tương tự?
[<$>] hoạt động liên tục
[<$>] cơ sở dồn tích
[<$>] Phù hợp
[<$>] Nhất quán
Câu 14: Which ONE of the following statements describes faithful representation, a qualitative
characteristic of faithful representation?
[<$>] Revenue earned must be matched against the expenditure incurred in earning it.
[<$>] Revenue earned must be matched against the expenditure incurred in earning it.
[<$>] The presentation and classification of items in the financial statements should stay thesame
from one period to the next.
[<$>] Financial information should be complete, neutral and free from error

Câu 14: Câu nào trong số các câu sau đây mô tả sự đại diện trung thực, một định tính
đặc điểm của đại diện trung thành?
[<$>] Doanh thu kiếm được phải phù hợp với chi phí phát sinh khi kiếm được.
[<$>] Doanh thu kiếm được phải phù hợp với chi phí phát sinh khi kiếm được.
[<$>] Việc trình bày và phân loại các khoản mục trong báo cáo tài chính phải được giữ nguyên
từ kỳ này sang kỳ sau.
[<$>] Thông tin tài chính phải đầy đủ, trung lập và không có sai sót
Câu 15: Which one of the following statements best defines a liability?
[<$>] A liability is an obligation arising from a past transaction or event.
[<$>] A liability is a legally binding amount owed to a third party.
[<$>] A liability is an obligation arising from a past transaction or event which is expected
to be settled by an outflow of economic benefits.
[<$>] A liability is anything which results in an outflow of economic benefits from an entity.
Câu 15: Câu nào sau đây xác định rõ nhất một khoản nợ phải trả?
[<$>] Trách nhiệm pháp lý là nghĩa vụ phát sinh từ một giao dịch hoặc sự kiện trong quá khứ.
[<$>] Trách nhiệm pháp lý là số tiền ràng buộc về mặt pháp lý đối với bên thứ ba.
[<$>] Trách nhiệm pháp lý là nghĩa vụ phát sinh từ một giao dịch hoặc sự kiện trong quá khứ
được mong đợi
được giải quyết bằng một luồng lợi ích kinh tế.
[<$>] Nợ phải trả là bất kỳ thứ gì dẫn đến việc một thực thể thu được lợi ích kinh tế.
Câu 16: Which one of the following statements best defines an expense?
[<$>] An expense is any outflow of economic benefits in an accounting period
[<$>] An expense is an outflow of economic benefits resulting from the purchase of
resources in an accounting period.
[<$>] An expense is an outflow of economic benefits resulting from a claim by a third party.
[<$>] An expense is an outflow of economic benefits in an accounting period as a result of
the using up of resources or a fall in the value of an asset.
Câu 16: Câu nào sau đây xác định đúng nhất một khoản chi phí?
[<$>] Chi phí là bất kỳ luồng lợi ích kinh tế nào trong kỳ kế toán
[<$>] Một khoản chi phí là dòng lợi ích kinh tế xuất phát từ việc mua
nguồn lực trong một kỳ kế toán.
[<$>] Một khoản chi phí là dòng lợi ích kinh tế xuất phát từ khiếu nại của bên thứ ba.
[<$>] Một khoản chi phí là một luồng lợi ích kinh tế trong kỳ kế toán do kết quả của
sử dụng hết tài nguyên hoặc giảm giá trị của tài sản.
Câu 17: Which one of the following statements best defines an asset?
[<$>] An asset is a resource owned by the entity with a financial value.
[<$>] An asset is a resource controlled by an entity from which future economic benefits
are expected to be generated.
[<$>] An asset is a resource controlled by an entity as a result of past events.
[<$>] An asset is a resource controlled by an entity as a result of past events from which
future economic benefits are expected to be generated.
Câu 17: Câu nào sau đây xác định đúng nhất một tài sản?
[<$>] Nội dung là tài nguyên thuộc sở hữu của tổ chức có giá trị tài chính.
[<$>] Tài sản là tài nguyên do một tổ chức kiểm soát mà từ đó mang lại lợi ích kinh tế trong
tương lai
dự kiến sẽ được tạo ra.
[<$>] Nội dung là tài nguyên do một thực thể kiểm soát do kết quả của các sự kiện trong quá
khứ.
[<$>] Nội dung là tài nguyên do một thực thể kiểm soát do kết quả của các sự kiện trong quá khứ
mà từ đó
lợi ích kinh tế trong tương lai dự kiến sẽ được tạo ra.
Câu 18: Which of the following is an example of a liability?
[<$>] Inventory
[<$>] Receivables
[<$>] Plant and equipment
[<$>] Loan
Câu 18: Điều nào sau đây là một ví dụ về trách nhiệm pháp lý?
[<$>] hàng tồn kho
[<$>] Các khoản phải thu
[<$>] Nhà máy và thiết bị
[<$>] Khoản vay
Câu 19: Which of the following statements defines the business entity concept?
[<$>] The business will continue to operate for the foreseeable future.
[<$>] A business is always a separate legal entity, distinct from those who own or manage that
business.
[<$>] A business is never a separate legal entity from those who own or manage that business.
[<$>] Financial transactions are recorded and presented from the perspective of the
business, rather than from the perspective of the owners or managers of that business.
Câu 19: Câu nào sau đây xác định khái niệm doanh nghiệp?
[<$>] Doanh nghiệp sẽ tiếp tục hoạt động trong tương lai gần.
[<$>] Doanh nghiệp luôn là một pháp nhân riêng biệt, khác với những người sở hữu hoặc quản
lý doanh nghiệp đó kinh doanh.
[<$>] Doanh nghiệp không bao giờ là một pháp nhân riêng biệt với những người sở hữu hoặc
quản lý doanh nghiệp đó.
[<$>] Các giao dịch tài chính được ghi lại và trình bày theo quan điểm của
doanh nghiệp, thay vì từ quan điểm của chủ sở hữu hoặc người quản lý của doanh nghiệp đó.
Câu 20: Which accounting concept or principle which, in times of rising prices, tends to
understate asset values and overstate profit?
[<$>] The historical cost principle
[<$>] The going concern
[<$>] The prudence concept
[<$>] The materiality concept
Câu 20: Khái niệm hoặc nguyên tắc kế toán nào, trong thời kỳ giá cả tăng cao, có xu hướng
giá trị tài sản thấp hơn và lợi nhuận quá cao?
[<$>] Nguyên tắc giá gốc
[<$>] HĐ liên tục
[<$>] Khái niệm thận trọng
[<$>] Khái niệm trọng yếu
Câu 21: Performing services on account will have the following effects on the components of
the basic accounting equation:
[<$>] Increase assets and decrease owner’s equity
.[<$>] Increase assets and increase owner’s equity.
[<$>] Increase assets and increase liabilities.
[<$>] Increase liabilities and increase owner’s equity.
Câu 21: Thực hiện các dịch vụ trên tài khoản sẽ có những ảnh hưởng sau đây đối với các thành
phần của phương trình kế toán cơ bản:
[<$>] Tăng tài sản và giảm vốn chủ sở hữu
. [<$>] Tăng tài sản và tăng vốn chủ sở hữu.
[<$>] Tăng tài sản và tăng nợ phải trả.
[<$>] Tăng nợ phải trả và tăng vốn chủ sở hữ
Câu 22: As of December 31, 2012, Stone Company has assets of $3,500 and owner’s equity of
$2,000.
What are the liabilities for Stone Company as of December 31, 2012?
[<$>] $1,500.
[<$>] $1,000
[<$>] $2,500.
[<$>] $2,000.
Câu 22: Tính đến ngày 31 tháng 12 năm 2012, Stone Company có tài sản là 3.500 đô la và vốn
chủ sở hữu là 2.000 đô la.
Các khoản nợ phải trả của Công ty Đá tại ngày 31 tháng 12 năm 2012 là bao nhiêu?
[<$>] 1.500 đô la.
[<$>] 1.000 đô la
[<$>] 2.500 đô la.
[<$>] 2.000 đô la.
Câu 23: During 2012, H Company’s assets decreased $50,000 and its liabilities decreased
$90,000. Its owner’s equity therefore:
[<$>] Increased $40,000
[<$>] Decreased $140,000.
[<$>] Decreased $40,000
[<$>] Increased $140,000.
Câu 23: Trong năm 2012, tài sản của Công ty H giảm 50.000 đô la và nợ phải trả của nó giảm
$ 90,000. Do đó, vốn chủ sở hữu của nó:
[<$>] Đã tăng $ 40.000
[<$>] Đã giảm 140.000 đô la.
[<$>] Đã giảm 40.000 đô la
[<$>] Đã tăng $ 140,000
Câu 24: On the last day of the period, ABC Company buys a $900 machine on credit. This
transaction will affect the:
[<$>] Income statement only.
[<$>] Statement of financial position only.
[<$>] Income statement and statement of changes in equity only.
[<$>] Income statement, statement of changes in equity, and statement of financial position.
Câu 24: Vào ngày cuối cùng của kỳ, Công ty ABC mua một chiếc máy trị giá 900 đô la. Điều
này giao dịch sẽ ảnh hưởng đến:
[<$>] Chỉ báo cáo thu nhập.
[<$>] Chỉ báo cáo tình hình tài chính.
[<$>] Chỉ báo cáo thu nhập và báo cáo thay đổi vốn chủ sở hữu.
[<$>] Báo cáo thu nhập, báo cáo thay đổi vốn chủ sở hữu và báo cáo tình hình tài chính.
Câu 25: Summarized operations for ABC Co. for the month of July, 2012 are as follows:
- Revenues earned: for cash $20,000; on account $70,000.
- Expenses incurred: for cash $26,000; on account $40,000.
Indicate for ABC Co the total revenues?
[<$>] $20,000
[<$>] $70,000
[<$>] $90,000
[<$>] $50,000
Câu 25: Tổng kết các hoạt động của Công ty ABC trong tháng 7 năm 2012 như sau:
- Doanh thu thu được: 20.000 USD tiền mặt; trên tài khoản $ 70.000.
- Chi phí phát sinh: tiền mặt $ 26,000; trên tài khoản $ 40.000.
Cho biết tổng doanh thu của Công ty ABC?
[<$>] 20.000 đô la
[<$>] 70.000 đô la
[<$>] 90.000 đô la
[<$>] 50.000 đô la
Câu 26: Presented below is selected information related to Lance Company at December 31,
2012. Lance reports financial information monthly.
Accounts Payable $ 3,000
Salaries and Wages Expense $16,500
Cash 4,500
Notes Payable 25,000
Advertising Expense 6,000
Rent Expense 10,500
Service Revenue 51,500
Accounts Receivable 13,500
Equipment 29,000
Owner’s Drawings 7,500
Determine the total assets of Lance Company at December 31, 2012?
[<$>] $47,000
[<$>] $33,500
[<$>] $4,500
[<$>] $29,000

Câu 26: Trình bày dưới đây là thông tin được chọn lọc liên quan đến Công ty Lance vào ngày 31
tháng 12,
2012. Lance báo cáo thông tin tài chính hàng tháng.
Tài khoản phải trả $ 3,000
Tiền lương và chi phí tiền lương $ 16,500
Tiền mặt 4.500
Ghi chú Phải trả 25.000
Chi phí quảng cáo 6.000
Chi phí thuê 10.500
Doanh thu dịch vụ 51.500
Các khoản phải thu 13.500
Thiết bị 29.000
Bản vẽ của chủ sở hữu 7.500
Xác định tổng tài sản của Công ty Lance tại thời điểm 31/12/2012?
[<$>] $ 47,000
[<$>] $ 33,500
[<$>] 4.500 đô la
[<$>] 29.000 đô la
Câu 27: Which of the following items are liabilities of Minh Stores?
(a) Cash. (d) Accounts receivable.
(b) Accounts payable. (e) Supplies.
(c) Owner’s drawings. (f) Equipment.
(g) Salaries and wages payable. (i) Rent expense.
(h) Service revenue.
[<$>] a, b, g, h
[<$>] b, g
[<$>] d, e
[<$>] i, h
Câu 27: Các khoản mục nào sau đây là công nợ của Cửa hàng Minh?
(a) Tiền mặt. (d) Các khoản phải thu.
(b) Các khoản phải trả. (e) Vật tư.
(c) Bản vẽ của chủ sở hữu. (f) Thiết bị.
(g) Tiền lương, tiền công phải trả. (i) Chi phí thuê.
(h) Doanh thu dịch vụ.
[<$>] a, b, g, h
[<$>] b, g
[<$>] d, e
[<$>] i,h
Câu 28: Which of the following items are assets of Minh Stores?
(a) Cash. (d) Accounts receivable.
(b) Accounts payable. (e) Supplies.
(c) Owner’s drawings. (f) Equipment.
(g) Salaries and wages payable. (i) Rent expense.
(h) Service revenue.
[<$>] a, b, d
[<$>] b, g
[<$>] a, d, e, f
[<$>] g, h
Câu 28: Những mặt hàng nào sau đây là tài sản của Minh Store?
(a) Tiền mặt. (d) Các khoản phải thu.
(b) Các khoản phải trả. (e) Vật tư.
(c) Bản vẽ của chủ sở hữu. (f) Thiết bị.
(g) Tiền lương, tiền công phải trả. (i) Chi phí thuê.
(h) Doanh thu dịch vụ.
[<$>] a, b, d
[<$>] b, g
[<$>] a, d, e, f
[<$>] g, h
Câu 29: Indicate the effects INCREASE in the accounting equation from the following
transactions:
a. Owner invested cash in the business.
b. Performed services for cash.
c. Purchased equipment by signing a note payable.
[<$>] (a)
[<$>] (a), (b)
[<$>] (b), (c)
[<$>] (a), (b), (c)

Câu 29: Chỉ ra các tác động TĂNG trong phương trình kế toán từ những điều sau
giao dịch:
a. Chủ đầu tư tiền mặt vào doanh nghiệp.
b. Các dịch vụ đã thực hiện đối với tiền mặt.
c. Đã mua thiết bị bằng cách ký vào giấy thanh toán.
[<$>] (a)
[<$>] (a), (b)
[<$>] (b), (c)
[<$>] (a), (b), (c)
Câu 30: During 2013, H Company’s assets increased $70,000 and its liabilities decreased
$40,000. Its owner’s equity therefore:
[<$>] Increased $30,000
[<$>] Decreased $110,000.
[<$>] Decreased $30,000
[<$>] Increased $110,000.

Câu 30: Trong năm 2013, tài sản của Công ty H tăng 70.000 đô la và nợ phải trả của nó giảm
$ 40.000. Do đó, vốn chủ sở hữu của nó:
[<$>] Đã tăng 30.000 đô la
[<$>] Đã giảm 110.000 đô la.
[<$>] Đã giảm 30.000 đô la
[<$>] Đã tăng $ 110,000.
CHAPTER 2: THE RECORDING PROCESS
Câu 1: Which of the following are books of prime entry?
[<$>]Sales day book and trial balance
[<$>]Petty cash book and accounts receivables ledger
[<$>]Petty cash book and journal
[<$>]Purchase day book and accounts payable ledger
Câu 1: Sách nào sau đây là sách nhập nguyên tố?
[<$>] Sổ sách trong ngày bán hàng và số dư dùng thử
[<$>] Sổ tiền mặt nhỏ và sổ cái các khoản phải thu
[<$>] Sổ và nhật ký tiền mặt nhỏ
[<$>] Sổ ngày mua hàng và sổ cái các khoản phải trả
Câu 2: In which book of prime entry would a business record the part-exchange value received
for a vehicle traded in when purchasing a new vehicle?
[<$>]The sales daybook
[<$>]The cash payments book
[<$>]The journal
[<$>]The non-current asset register
Câu 2: Trong sổ sách kế toán nào một doanh nghiệp sẽ ghi lại giá trị trao đổi từng phần nhận
được cho một chiếc xe giao dịch khi mua một chiếc xe mới?
[<$>] Nhật ký bán hàng
[<$>] Sổ thanh toán tiền mặt
[<$>] Tạp chí
[<$>] Sổ đăng ký nội dung không hiện tại
Câu 3: Which one of the following best describes the purpose of a purchase invoice?
[<$>]It is issued by a supplier as a request for payment
[<$>]It is sent to supplier as a request for a supply
[<$>]It is issued by supplier listing details of recent transactions
[<$>]It is sent to the supplier as notification of payment
Câu 3: Điều nào sau đây mô tả đúng nhất mục đích của hóa đơn mua hàng?
[<$>] Nó được phát hành bởi một nhà cung cấp như một yêu cầu thanh toán
[<$>] Nó được gửi đến nhà cung cấp như một yêu cầu cung cấp
[<$>] Nó được phát hành bởi nhà cung cấp liệt kê chi tiết các giao dịch gần đây
[<$>] Nó được gửi đến nhà cung cấp dưới dạng thông báo thanh toán
Câu 4: In which book of prime entry would discounts received be recorded?
[<$>]Cash received book
[<$>]Cash payments book
[<$>]Sales day book
[<$>]Purchases day book
Câu 4: Các khoản chiết khấu nhận được sẽ được ghi vào sổ nào?
[<$>] Sổ nhận tiền mặt
[<$>] Sổ thanh toán tiền mặt
[<$>] Sách ngày bán hàng
[<$>] Mua sách trong ngày
Câu 5: A business can make a profit and yet have a reduction in its bank balance. Which ONE
of the following might cause this to happen?
[<$>]The sale of non-current assets at a loss
[<$>]The charging of depreciation in the statement of profit or loss
[<$>]The lengthening of the period of credit given to customers
[<$>]The lengthening of the period of credit taken from suppliers
Câu 5: Một doanh nghiệp có thể tạo ra lợi nhuận nhưng số dư ngân hàng của nó bị giảm. Cái nào
điều nào sau đây có thể khiến điều này xảy ra?
[<$>] Bán tài sản dài hạn bị thua lỗ
[<$>] Tính khấu hao trong báo cáo lãi hoặc lỗ
[<$>] Việc kéo dài khoảng thời gian tín dụng được cấp cho khách hàng
[<$>] Việc kéo dài thời hạn tín dụng nhận được từ nhà cung cấp
Câu 6: Which of the following documents should accompany a return of goods to a supplier?
[<$>]Debit note
[<$>]Remittance advice
[<$>]Purchase invoice
[<$>]Credit note
Câu 7: Which of the following are books of prime entry?
1 Sales day book
2 Cash book
3 Journal
4 Purchase ledger
[<$>]1 and 2 only
[<$>]1, 2 and 3 only
[<$>]1 only
[<$>]All of them
Câu 8: In which book of prime entry will a business record debit notes in respect of goods which
have been sent back to suppliers?
[<$>]The sales returns day book
[<$>]The cash book
[<$>]The purchase returns day book
[<$>]The purchase day book
Câu 9: Which of the following would be recorded in the sales day book?
[<$>]Discounts allowed
[<$>]Sales invoices
[<$>]Credit notes received
[<$>]Trade discounts
Câu 10: Which of the following statements is true?
[<$>]A debit records an increase in liabilities
[<$>]A debit records a decrease in assets
[<$>]A credit records an increase in liabilities
[<$>]A credit records an decrease in capital
Câu 11: Which one of the following provides evidence that an item of expenditure on petty cash
has been approved or authorised?
[<$>]Petty cash voucher
[<$>]Record of the transaction in the petty cash book
[<$>]Receipt for the expense
[<$>]Transfer of cash from the bank account into petty cash
Câu 12: Which one of the following provides evidence that an item of expenditure on petty cash
has been approved or authorised?
[<$>]Petty cash voucher
[<$>]Record of the transaction in the petty cash book
[<$>]Receipt for the expense
[<$>]Transfer of cash from the bank account into petty cash
Câu 13: How is the total of the sales day book recorded in the nominal ledger?
Debit Credit
[<$>]Receivables Ledger Receivables Control Account
[<$>]Receivables Control Account Receivables Ledger
[<$>]Sales Receivables Control Account
[<$>]Receivables Control Account Sales
Câu 14: Are the following statements about debit entries true or false?
1 A debit entry in the cash book will increase an overdraft in the accounts.
2 A debit entry in the cash book will increase a bank balance in the accounts.
[<$>]Both true
[<$>]Both false
[<$>]1 true and 2 false
[<$>]1 false and 2 true
Câu 15: Are the following statements about debit entries true or false?1 A debit entry in the cash
book will increase an overdraft in the accounts.
2 A debit entry in the cash book will increase a bank balance in the accounts.
[<$>]Both true
[<$>]Both false
[<$>]1 true and 2 false
[<$>]1 false and 2 true
Câu 16: A trial balance is made up of a list of debit balances and credit balances.
Which of the following statements is correct?
[<$>]Every debit balance represents an expense
[<$>]Assets are represented by debit balances
[<$>]Liabilities are represented by debit balances
[<$>]Income is included in the list of debit balances
Câu 17: Which of the following statements is/are TRUE or FALSE?
1 Cash purchases are recorded in the purchases day book.
2 The sales day books is used to keep a list of invoices received from suppliers
[<$>]Both statements are TRUE
[<$>]Both statements are FALSE
[<$>]Statement 1 is TRUE and statement 2 is FALSE
[<$>]Statement 1 is FALSE and statement 2 is TRUE
Câu 18: Which of the following statements is/are TRUE or FALSE?
1 Cash purchases are recorded in the purchases day book.
2 The sales day books is used to keep a list of invoices received from suppliers
[<$>]Both statements are TRUE
[<$>]Both statements are FALSE
[<$>]Statement 1 is TRUE and statement 2 is FALSE
[<$>]Statement 1 is FALSE and statement 2 is TRUE
Câu 19: Which pair of the following items would appear on the same side of the trial balance?
[<$>]Drawings and accruals
[<$>]Carriage outwards and prepayments
[<$>]Carriage inwards and rental income
[<$>]Opening inventory and purchase returns
Câu 20: The double-entry system of bookkeeping normally results in which of the following
balances on the ledger accounts?
Debit balances: Credit balances:
[<$>] Assets and revenues Liabilities, capital and expenses
[<$>] Revenues, capital and liabilities Assets and expenses
[<$>] Assets and expenses Liabilities, capital and revenues
[<$>] Assets, expenses and capital Liabilities and revenues
Câu 21: Which one of the following statements best describes the purpose of a purchase order?
[<$>]It is issued to a supplier to request supply of goods from them on terms specified
within the order
[<$>]It is issued to a customer to confirm the supply of goods to them on terms specified
in the order
[<$>]It is issued to a supplier as notification of payment[<$>]It confirms the price that will be
charged by a supplier for goods supplied
Câu 22: Which one of the following statements best describes the purpose of a goods
despatched note (delivery note)?
[<$>]It is issued by a customer returning faulty goods to their supplier
[<$>]It is issued by a customer to their supplier and specifies the quantity and type of goods they
require to be despatched
[<$>]It is issued by a supplier to their customer and specifies the quantity and type of goods
delivered to that customer
[<$>]It is issued by a supplier to their customer and specifies what goods will be provided
to them at a specified future date
Câu 23: An invoice is best defined by which one of the following statements?
[<$>]An invoice is raised by a business and confirms only the amount due to be paid for goods
and services provided
[<$>]An invoice is raised by business and issued to a supplier as recognition of goods and
services received from that supplier
[<$>]An invoice is raised by a business and issued to a customer to confirm amounts not yet paid
[<$>]An invoice is raised by a business and issued to a customer to request payment for goods
and services provided
Câu 24: Which one of the following explains the imprest system of operating petty cash?
[<$>]Weekly expenditure cannot exceed a set amount
[<$>]The exact amount of expenditure is reimbursed at intervals to maintain a fixed float
[<$>]All expenditure out of the petty cash must be properly authorised
[<$>]Regular equal amounts of cash are transferred into petty cash at intervals
Câu 25: Jones Co has the following transactions:
1 Payment of $400 to J Bloggs for a cash purchase
2 Payment of $250 to J Doe in respect of an invoice for goods purchased last month
What are the correct ledger entries to record these transactions?
[<$>]Dr Cash $650 Cr Purchases $650
[<$>]Dr Purchases $650 Cr Cash $650
[<$>]Dr Purchases $400 Dr Trade Payables $250 Cr Cash $650
[<$>]Dr Cash $650 Cr Trade Payables $250 Cr Purchases $400
Câu 26: Smith Co has the following transactions:
1 Purchase of goods on credit from T Rader: $450
2 Return of goods purchased on credit last month to T Rouble: $700
What are the correct ledger entries to record these transactions?
[<$>]Dr Purchases $450 Dr Purchase Returns $700 Cr Cash $450 Cr Trade Payables $700
[<$>]Dr Purchases $450 Dr Trade Payables $700 Cr Purchase Returns $1,150
[<$>]Dr Purchases $450 Dr Trade Payables $250 Cr Purchase Returns $700
[<$>]Dr Purchase Returns $700 Dr Purchases $450 Cr Trade Payables $1,150
Câu 27: Mew Ling has the following transactions:
1 Receipt of cash from R Singh in respect of an invoice for goods sold three weeks ago
2 Receipt of cash from S Kalu for cash sales
What are the correct ledger entries to record these transactions?
[<$>]Dr Cash Cr Sales
[<$>]Dr Cash Cr Sales Cr Trade Receivables
[<$>]Dr Sales Cr Cash
[<$>]Dr Trade Receivables Dr Sales Cr Cash
Câu 28: A business sells $100 worth of goods to a customer, the customer pays $50 in cash
immediately and will pay the remaining $50 in 30 days' time.
What is the double entry to record the purchase in the customer’s accounting records?
[<$>]Debit cash $50, credit payables $50, credit purchases $50
[<$>]Debit payables $50, debit cash $50, credit purchases $100
[<$>]Debit purchases $100, credit payables $50, credit cash $50
[<$>]Debit purchases $100, credit cash $100
Câu 29: Tin Co purchases $250 worth of metal from Steel Co. Tin Co agrees to pay Steel Co in
60 days time.
What is the double entry to record the purchase in Steel Co’s books?
[<$>]Debit sales $250, credit receivables $250
[<$>]Debit purchases $250, credit payables $250
[<$>]Debit receivables $250, credit sales $250
[<$>]Debit payables $250, credit purchases $250
Câu 30: Oscar runs a sole trader business selling computers. On 12 January 20X7, he employed
his daughter as an administrator for the business and took a computer from the store room for her
to use in the office.
What is the double entry for this transaction?
[<$>]Dr Drawings Cr Cost of sales
[<$>]Dr Non-current assets Cr Cost of sales
[<$>]Dr Cost of sales Cr Drawings
[<$>]Dr Cost of sales Cr Non-current assets
Câu 31: Andrea started a taxi business by transferring her car, at a value of $5,000, into the
business.
What accounting entries are required to record this transaction?
[<$>]Dr Capital $5,000, Cr Car $5,000
[<$>]Dr Car $5,000, Cr Drawings $5,000
[<$>]Dr Car $5,000, Cr Capital $5,000
[<$>]Dr Drawing $5,000 Cr Car $5,000
Câu 32: Which one of the following statements is true in relation to the non-current asset
register?
[<$>]It is an alternative name for the non-current asset ledger account
[<$>]It is a list of the physical non-current assets rather than their financial cost
[<$>]It is a schedule of planned maintenance of non-current assets for use by the plant engineer
[<$>]It is a schedule of the cost and other information about each individual non-current asset
Câu 33: How should the balance on the payables ledger control account be reported in the final
financial statements?
[<$>]As an expense account
[<$>]As a non-current liability
[<$>]As a current asset
[<$>]As a current liability
Câu 34: Before posting a payment of $5,000, the Accounts Payable of Senator Company had a
normal balance of $16,000. The balance after posting this transaction was:
[<$>]$21,000
[<$>]$11,000
[<$>]$5,000
[<$>]Cannot be determined
Câu 35: The trial balance of Clooney Company had accounts with the following normal
balances: Cash $5,000, Service Revenue $85,000, Salaries and Wages Payable $4,000, Salaries
and Wages Expense $40,000, Rent Expense $10,000, Owner’s Capital $42,000; Owner’s
Drawings $15,000; Equipment $61,000. In preparing a trial balance, the total in the debit column
is:
[<$>]$131,000
[<$>]$216,000
[<$>]$91,000
[<$>]$116,000
Câu 36: The purchase of supplies on account should result in:
[<$>]a debit to Supplies Expense and a credit to Cash.
[<$>]a debit to Supplies Expense and a credit to Accounts Payable
[<$>]a debit to Supplies and a credit to Accounts Payable
[<$>]a debit to Supplies and a credit to Accounts Receivable
Câu 37: Which one of the following items should be accounted for as capital expenditure?
[<$>]The cost of painting a building
[<$>]The replacement of broken windows in a building
[<$>]The purchase of a car by a car dealer for re-sale
[<$>]Legal fees incurred on the purchase of a building
Câu 38: What is the correct accounting treatment for an intangible asset with an indefinite useful
life?
[<$>]It is recognised at cost for as long as the entity has the intangible asset
[<$>]It is recognised at cost and is subject to an annual impairment review
[<$>]It is recognised at cost and the entity must make an estimate of estimated useful life so that
it can be amortised
[<$>]It cannot be recognised as an intangible asset as it would not be possible to calculate an
annual amortisation charge
Câu 39: Debits:
[<$>]Increase both assets and liabilities
[<$>]Decrease both assets and liabilities
[<$>]Increase assets and decrease liabilities
[<$>]Decrease assets and increase liabilities
Câu 40: A revenue account:
[<$>]is increased by debits
[<$>]is decreased by credits
[<$>]has a normal balance of a debit
[<$>]is increased by credits
CHAPTER 3: ACCOUNTING FOR PRESENTATION AND PROFIT,
Câu 1: Depreciation is a process of:
[<$>] valuation.
[<$>] cost allocation
[<$>] cash accumulation
[<$>] appraisal.
Câu 2: What is the purpose of charging depreciation in financial statements?
[<$>] To allocate the cost of a non-current asset over the accounting periods expected to benefit
from its use
[<$>] To ensure that funds are available for the eventual replacement of the asset
[<$>] To reduce the cost of the asset in the statement of financial position to its estimated market
value
[<$>] To account for the ‘wearing-out’ of the asset over its life
Câu 3: Additions to plant assets are:
[<$>] revenue expenditures.
[<$>] debited to the Maintenance and Repairs Expense account.
[<$>] debited to the Purchases account.
[<$>] capital expenditures.
Câu 4: Which of the following statements is false?
[<$>] If an intangible asset has a finite life, it should be amortized
[<$>] The amortization period of an intangible asset can exceed 20 years.
[<$>] Goodwill is recorded only when a business is purchased.
[<$>] Research and development costs are expensed when incurred, except when the research
and development expenditures result in a successful patent.
Câu 5: Which one of the following statements correctly defines non-current assets?
[<$>] Assets that are held for use in the production of goods or services and are expected to be
used during more than one accounting period
[<$>] Assets which are intended to be used by the business on a continuing basis, including both
tangible and intangible assets that do not meet the IASB definition of a current asset
[<$>] Non-monetary assets without physical substance that are controlled by the entity and from
which future benefits are expected to flow
[<$>] Assets in the form of materials or supplies to be consumed in the production process
Câu 6: What are the correct ledger entries to record an acquisition of a non-current asset on
credit?
[<$>] Debit Non-current asset – Cost/ Credit Receivables
[<$>] Debit Payables/ Credit Non-current asset – Cost
[<$>] Debit Non-current asset – Cost/ Credit Payables
[<$>] Debit Non-current asset – Cost/ Credit Revaluation Surplus
Câu 7: Which of the following best explains what is meant by 'capital expenditure'?
[<$>] Expenditure on non-current assets, including repairs and maintenance
[<$>] Expenditure on expensive assets
[<$>] Expenditure relating to the issue of share capital
[<$>] Expenditure relating to the acquisition or improvement of non-current assets
Câu 8: Expenditure relating to the acquisition or improvement of non-current assets
[<$>] A replacement for a broken window
[<$>] Repainting the restaurant
[<$>] An illuminated sign advertising the business name
[<$>] Cleaning of the kitchen floors
Câu 9: Which one of the following costs would be classified as revenue expenditure on the
invoice for a new company car?
[<$>] Road tax
[<$>] Number plates
[<$>] Fitted stereo radio
[<$>] Delivery costs
Câu 10: Which one of the following assets may be classified as a non-current asset in the
financial statements of a business?
[<$>] A tax refund due next year
[<$>] A motor vehicle held for resale
[<$>] A computer used in the office
[<$>] Cleaning products used to clean the office floors
Câu 11: Which one of the following assets may be classified as a receivable in the financial
statements of a business?
[<$>] A tax refund due next year
[<$>] A motor vehicle held for resale
[<$>] A computer used in the office
[<$>] Cleaning products used to clean the office floors
Câu 12: Which one of the following assets may be classified as inventory in the financial
statements of a business?
[<$>] A tax refund due next year
[<$>] A motor vehicle
[<$>] A computer used in the office
[<$>] Cleaning products used to clean the office floors
Câu 13: Which of the following items should be included in current assets?
(i) Assets which are not intended to be converted into cash
(ii) Assets which will be converted into cash in the long term
(iii) Assets which will be converted into cash in the near future
[<$>] (i) only
[<$>] (ii) only
[<$>] (iii) only
[<$>] (ii) and (iii)
Câu 14: Which of the following statements describes current assets?
[<$>] Assets which are currently located on the business premises
[<$>] Assets which are used to conduct the organisation’s current business
[<$>] Assets which are expected to be converted into cash in the short-term
[<$>] Assets which are not expected to be converted into cash in the short-term.Câu 15:
According to IAS 38 Intangible assets, which of the following statements are correct?
(1) Research expenditure should not be capitalised.
(2) Intangible assets are never amortised.
(3) Development expenditure must be capitalised if certain conditions are met.
[<$>] 1 and 3 only
[<$>] 1 and 2 onl
[<$>] 2 and 3 only
[<$>] All three statements are correct
Câu 16: What is the purpose of amortisation?
[<$>] To allocate the cost of an intangible non-current asset over its useful life
[<$>] To ensure that funds are available for the eventual purchase of a replacement non-current
asset
[<$>] To reduce the cost of an intangible non-current asset in the statement of financial position
to its estimated market value
[<$>] To account for the risk associated with intangible assets
Câu 17: Which of the following statements about the treatment of inventory and work in
progress in financial statements are correct?
(1) Inventory should be valued at the lower of cost, net realisable value and replacement cost.
(2) In valuing work in progress, materials costs, labour costs and variable and fixed production
overheads must be included.
(3) Inventory items can be valued using either first in, first out (FIFO) or weighted average cost.
(4) An entity’s financial statements must disclose the accounting policies used in measuring
inventories.
[<$>] All four statements are correct
[<$>] (1), (2) and (3) only are correct
[<$>] (2), (3) and (4) only are correct
[<$>] (1) and (4) only are correct
Câu 18: What journal entry is required to record goods taken from inventory by the owner of a
business for personal use?
[<$>] Dr Drawings Cr Purchases
[<$>] Dr Sales Cr Drawings
[<$>] Dr Drawings Cr Inventory
[<$>] Dr Inventory Cr Drawings
Câu 19: If an entity uses the periodic weighted average cost method to value closing inventory,
which of the following statements is true?
[<$>] Unit average cost is recalculated each time there is a purchase of inventory
[<$>] Unit average cost is recalculated each time there is a sale of goods
[<$>] Unit average cost is calculated once only at the end of an accounting period
[<$>] Unit average cost is recalculated each time there is a purchase or a sale
Câu 20: Which one of the following items should be accounted for as capital expenditure?
[<$>] The cost of painting a building
[<$>] The replacement of broken windows in a building
[<$>] The purchase of a car by a car dealer for re-sale
[<$>] Legal fees incurred on the purchase of a buildingCâu 21: Which of the following
statements best describes depreciation?
[<$>] It is a means of spreading the payment for non-current assets over a period of years.
[<$>] It is a decline in the market value of the assets.
[<$>] It is a means of spreading the net cost of non-current assets over their estimated
useful life.
[<$>] It is a means of estimating the amount of money needed to replace the assets.
Câu 22: The reducing balance method of depreciating non-current assets is more appropriate
than the straight-line method when:
[<$>] there is no expected residual value for the asset
[<$>] the expected life of the asset is not capable of being estimated
[<$>] the asset is expected to be replaced in a short period of time
[<$>] the asset decreases in value less in later years than in the early years of use
Câu 23: Inventories are assets:
(1) Held for sale in the ordinary course of business;
(2) In the process of production for such sale
(3)In the form of materials or supplies to be consumed in the production process or in the
rendering of services.
[<$>] (1)
[<$>] (2), (3)
[<$>] (1,),(3)
[<$>] (1), (2), (3)
Câu 24: Which one of the following statements best defines an intangible asset?
[<$>] An intangible asset is an asset with no physical substance
[<$>] An intangible asset is always generated internally by a business
[<$>] An intangible asset is an asset which cannot be sold
[<$>] An intangible asset is a purchased asset which has no physical substance
Câu 25: Erin Danielle Company purchased equipment and incurred the following costs.
Cash price $24,000
Sales taxes 1,200
Insurance during transit 200
Installation and testing 400
Total costs $25,800
What amount should be recorded as the cost of the equipment?
[<$>] $24,000.
[<$>] $25,200.
[<$>] $25,400
[<$>] $25,800.
Câu 26: ABC Company purchased equipment on January 1, 2012, at a total invoice cost of
$400,000. The equipment has an estimated residual value of $10,000 and an estimated useful life
of 5 years. The amount of accumulated depreciation at December 31, 2013, if the straight-line
method of depreciation is used, is:
[<$>] $80,000
[<$>] $160,000.
[<$>] $78,000
[<$>] $156,000.Câu 27: ABC company purchased a truck for $11,000 on January 1, 2012. The
truck will have
an estimated residual value of $1,000 at the end of 5 years. Using the production units method,
the balance in accumulated depreciation at December 31, 2013, can be computed by the
following formula:
[<$>] ($11,000 : Total estimated production) x Units of production for 2013.
[<$>] ($10,000 : Total estimated production) x Units of production for 2013
[<$>] ($11,000 : Total estimated production) x Units of production for 2012 and 2013.
[<$>] ($10,000 : Total estimated production) x Units of production for 2012 and 2013
Câu 28: Company purchased a piece of equipment on January 1, 2012. The equipment cost
$60,000 and has an estimated life of 8 years and a salvage value of $8,000. What was the
depreciation expense for the asset for 2013 under the reducing balance method with
the depreciation rate of 50%?
[<$>] $6,500
[<$>] $11,250.
[<$>] $15,000
[<$>] $6,562.
Câu 29: Bennie Razor Company has decided to sell one of its old manufacturing machines on
June 30, 2012. The machine was purchased for $80,000 on January 1, 2008, and was depreciated
on a straight-line basis for 10 years assuming no residual value. If the machine was sold for
$26,000, what was the amount of the gain or loss recorded at the time of the sale?
[<$>] $18,000.
[<$>] $54,000.
[<$>] $22,000.
[<$>] $46,000.
Câu 30: Maggie Sharrer Company expects to extract 20 million tons of coal from a mine that
cost $12 million. If no residual value is expected and 2 million tons are mined and sold in the
first year, the entry to record depletion will include a:
[<$>] debit to Accumulated Depletion of $2,000,000.
[<$>] credit to Depletion Expense of $1,200,000.
[<$>] debit to Depletion Expense of $1,200,000.
[<$>] credit to Accumulated Depletion of $2,000,000.
Câu 31: Martha Beyerlein Company incurred $150,000 of research and development costs in its
laboratory to develop a patent granted on January 2, 2012. On July 31, 2012, Beyerlein paid
$35,000 for legal fees in a successful defense of the patent. The total amount debited to Patents
through July 31, 2012, should be:
[<$>] $150,000
[<$>] $35,000.
[<$>] $185,000
[<$>] $170,000.
Câu 32: Schopenhauer Company exchanged an old machine, with a book value of $39,000 and a
fair value of $35,000, and paid $10,000 cash for a similar new machine. The transaction has
commercial substance. At what amount should the machine acquired in the exchange be recorded
on Schopenhauer’s books?
[<$>] $45,000.[<$>] $46,000.
[<$>] $49,000.
[<$>] $50,000.
Câu 33: The closing inventory at cost of a company at 31 January 20X3 amounted to $284,700.
The following items were included at cost in the total:
(1) 400 coats, which had cost $80 each and normally sold for $150 each. Owing to a defect in
manufacture, they were all sold after the reporting date at 50% of their normal price. Selling
expenses amounted to 5% of the proceeds.
(2) 800 skirts, which had cost $20 each. These too were found to be defective. Remedial work in
February 20X3 cost $5 per skirt, and selling expenses for the batch totalled $800. They were
sold for $28 each.
What should the inventory value be according to IAS 2 Inventories after considering the above
items?
[<$>] $281,200
[<$>] $282,800
[<$>] $329,200
[<$>] None of these
Câu 34: You are preparing the financial statements for a business. The cost of the items in
closing inventory is $41,875. This includes some items which cost $1,960 and which were
damaged in transit. You have estimated that it will cost $360 to repair the items, and they can
then be sold for $1,200.
What is the correct inventory valuation for inclusion in the financial statements?
[<$>] $39,915
[<$>] $40,755
[<$>] $41,515
[<$>] $42,995
Câu 35: An inventory record card shows the following details.
February 1 50 units in stock at a cost of $40 per unit
7 100 units purchased at a cost of $45 per unit
14 80 units sold
21 50 units purchased at a cost of $50 per unit
28 60 units sold
What is the value of inventory at 28 February using the FIFO method?
[<$>] $2,450
[<$>] $2,700
[<$>] $2,950
[<$>] $3,000
Câu 36: In preparing its financial statements for the current year, a company's closing inventory
was understated by $300,000.
What will be the effect of this error if it remains uncorrected?
[<$>] The current year's profit will be overstated and next year's profit will be understated
[<$>] The current year's profit will be understated but there will be no effect on next year's profit
[<$>] The current year's profit will be understated and next year's profit will be overstated
[<$>] The current year's profit will be overstated but there will be no effect on next year's profit.
Câu 37: Which of the following statements about the valuation of inventory are correct,according
to IAS 2
Inventories?
(1) Inventory items are normally to be valued at the higher of cost and net realisable value.
(2) The cost of goods manufactured by an entity will include materials and labour only.
Overhead costs cannot be included.
(3) LIFO (last in, first out) cannot be used to value inventory.
(4) Selling price less estimated profit margin may be used to arrive at cost if this gives a
reasonable approximation to actual cost.
[<$>] 1, 3 and 4 only
[<$>] 1 and 2 only
[<$>] 3 and 4 only
[<$>] None of the statements are correct
Câu 38: The inventory value for the financial statements of Global Co for the year ended 30
June 20X3 was
based on a inventory count on 7 July 20X3, which gave a total inventory value of $950,000.
Between 30 June and 7 July 20X6, the following transactions took place.
$
Purchase of goods 11,750
Sale of goods (mark up on cost at 15%) 14,950
Goods returned by Global Co to supplier 1,500
What figure should be included in the financial statements for inventories at 30 June 20X3?
[<$>] $952,750
[<$>] $949,750
[<$>] $926,750
[<$>] $958,950
Câu 39: he financial year of Mitex Co ended on 31 December 20X1. An inventory count on
January 4 20X2 gave a total inventory value of $527,300.
The following transactions occurred between January 1 and January 4.
$
Purchases of goods 7,900
Sales of goods (gross profit margin 40% on sales) 15,000
Goods returned to a supplier 800
What inventory value should be included in Mitex Co’s financial statements at 31 December
20X1?
[<$>] $525,400
[<$>] $527,600
[<$>] $529,200
[<$>] $535,200
Câu 40: The information below relates to inventory item Z.
March 1 50 units held in opening inventory at a cost of $40 per unit
17 50 units purchased at a cost of $50 per unit
31 60 units sold at a selling price of $100 per unit
Under AVCO, what is the value of inventory held for item Z at the end of March 31?
[<$>] $4,000
[<$>] $1,800[<$>] $2,000
[<$>] $2,000
CHAPTER 4: ACCOUNTING FOR ASSETS AND LIABILITIES,
Câu 1: A ledger:
[<$>]contains only asset and liability accounts
[<$>]should show accounts in alphabetical order
[<$>]is a collection of the entire group of accounts maintained by a company
[<$>]is a book of original entry
Câu 2: Posting:
[<$>]normally occurs before journalizing
[<$>]transfers ledger transaction data to the journal
[<$>]is an optional step in the recording process
[<$>]transfers journal entries to ledger accounts
Câu 3: Which of the following statements about a journal is false?
[<$>]It is not a book of original entry
[<$>]It provides a chronological record of transactions
[<$>]It helps to locate errors because the debit and credit amounts for each entry can be readily
compared
[<$>]It discloses in one place the complete effect of a transaction
Câu 4: We can say that the business is in profit, when:
[<$>]Assets exceed Expenditure
[<$>]Income exceeds Liabilities
[<$>]Income exceeds Expenditure
[<$>]Income exceeds Liabilities
Câu 5: When a Liability is reduced or decreased, it is recorded on the:
[<$>]Left or credit side of the account
[<$>]Right or debit side of the account
[<$>]Right or credit side of the account
[<$>]Left or debit side of the account
Câu 6: Which of the following is NOT an example of intangible assets?
[<$>]Franchise rights
[<$>]Goodwill
[<$>]Patents
[<$>]Land
Câu 7: Which of the following is an example of business liability?
[<$>]Building
[<$>]Cash
[<$>]Creditors
[<$>]Land
Câu 8: What is depreciation?
[<$>]Cost of a fixed asset
[<$>]Cost of a fixed asset’s repair
[<$>]The residual value of a fixed asset
[<$>]Portion of a fixed asset’s cost consumed during the current accounting period
Câu 9: What is depreciation?
[<$>]Cost of a fixed asset
[<$>]Cost of a fixed asset’s repair
[<$>]The residual value of a fixed asset
[<$>]Portion of a fixed asset’s cost consumed during the current accounting period
Câu 10: Under which depreciation method the amount of depreciation expenses remains same
throughout the useful life of a fixed asset?
[<$>]Straight line method
[<$>]Reducing balance method
[<$>]Number of units produced method
[<$>]Machine hours method
Câu 11: What is the accumulated deprecation?
[<$>]Sum of all depreciation expenses of a fixed asset
[<$>]Depreciation expenses
[<$>]Cost of depletion of assets
[<$>]Future value of fixed asset
Câu 12: Which of the following is a double entry for depreciation expenses?
[<$>]Accumulated depreciation debit and depreciation expenses Credit
[<$>]Depreciation expenses Debit and accumulated depreciation Credit
[<$>]Cash Debit and depreciation expenses Credit
[<$>]Depreciation expenses Debit and cash Credit
Câu 13: Cost of a fixed asset – Accumulated depreciation expenses of the fixed asset=?
[<$>]Book value of a fixed asset
[<$>]Market value of a fixed asset
[<$>]Historical cost of a fixed asset
[<$>]Recoverable amount of a fixed asset
Câu 14: The purchase price of a software that will be used for more than 12 months should be
regarded as:
[<$>]a revenue expenditure
[<$>]a capital expenditure
[<$>]a long term expense
[<$>]an accounting period expense
Câu 15: XYZ firm has imported a machine from abroad. Which of the following is NOT the
element of machine’s cost?
[<$>]Purchase price of machine
[<$>]Import duty
[<$>]Demurrage charges
[<$>]Refundable tax
Câu 16: Which of the following fixed assets is not depreciated in the ordinary circumstances?
[<$>]Plant and machinery
[<$>]Building
[<$>]Land
[<$>]EquipmentsCâu 17: Under which method of depreciation the amount of depreciation
expenses remains
constant throughout the useful life of a fixed asset?
[<$>]Reducing balance method
[<$>]Unit of activity method
[<$>]Straight line method
[<$>]None of these
Câu 18: Which of the following is a biological asset?
[<$>]Environment
[<$>]Building
[<$>]Land
[<$>]Living plants and animals
Câu 19: W Co bought a new printing machine from abroad. The cost of the machine was
$80,000. The installation costs were $5,000 and the employees received training on how to use
the machine, at a cost of $2,000. Before using the machine to print customers' orders,
preproduction safety testing was undertaken at a cost of $1,000.
What should be the cost of the machine in W Co’s statement of financial position?
[<$>]$85,000
[<$>]$86,000
[<$>]$82,000
[<$>]$81,000
Câu 20: At the end of its financial year, Tanner Co had the following non-current assets:
Land and buildings at cost $10.4 million
Land and buildings: accumulated depreciation $0.12 million
Tanner Co decided to revalue its land and buildings at the year-end to $15 million.
[<$>]$4.70 million
[<$>]$4.71 million
[<$>]$4.72 million
[<$>]$4.73 million
Câu 21: A company purchased a vehicle for $6000. I will be used for 5 years and its residual
value is expected to be $1000. What is the annual amount of deprecation using straight line
method of depreciation?.
[<$>]$1,000
[<$>]$2,000
[<$>]$3,000
[<$>]$3,300
Câu 22: A fixed asset was bought for $5000. Its accumulated depreciation is $3000 and rate of
depreciation is 20%. Calculate its depreciation expenses for the current accounting period using
reducing balance method?
[<$>]$600
[<$>]$2,000
[<$>]$300
[<$>]$400
Câu 23: A company purchased a new machine for $500,000 and machine’s test run was startedto
make sure that machine works properly. There was expense of $5000 incurred on test run,
however the sale proceeds of test production were $2000. You are required to find out the total
cost of machine?
[<$>]$500,000
[<$>]$505,000
[<$>]$503,000
[<$>]$495,000
Câu 24: A car was purchased for $5500. Its residual value was estimated to be $500 while its
monthly depreciation expenses are $100 using straight line method. Which of the following is
the annual rate of depreciation?
[<$>]20%
[<$>]24%
[<$>]21%
[<$>]25%
Câu 25: A fixed asset having book value of $2000 was sold for $1500. Which of the following is
the gain or loss on the sale of fixed asset?
[<$>]$500 gain
[<$>]$1500 loss
[<$>]$500 loss
[<$>]$1000 gain
Câu 26: Book value of a fixed asset equals to market value or sale proceeds of a fixed asset if:
[<$>]Gain on sale=0
[<$>]Loss on sale=0
[<$>]Gain or loss on sale=0
[<$>]Gain > loss on sale
Câu 27: At the end of XYZ firm’s accounting period, the closing stock was found to be $10,000.
However, it was realized that a fixed asset of cost $1000 was included in the stock count. Which
of the following is the correct amount of ending inventory or stock?
[<$>]$10,000
[<$>]$11,000
[<$>]$9,000
[<$>]$8,000
Câu 28: NRV or net realizable value of inventory is the expected selling price or market value
less:
[<$>]Carry value of the inventory
[<$>]Expenses necessary to complete sale
[<$>]Cost of the stock
[<$>]Replacement cost
Câu 29: Cost of an item in the closing inventory is $100 whereas the net realizable value is $85.
At which one of following amounts the item should be shown in the financial statement?
[<$>]$100
[<$>]$115
[<$>]$85
[<$>]$185Câu 30: An item of inventory was purchased for $100. It can be sold for $125 and
company can
replace the item with the new one at the cost of $105. Which of the following is the historical
cost of that item?
[<$>]$105
[<$>]$115
[<$>]$100
[<$>]$185
CHAPTER 5: GROUP ACCOUNTING,
Câu 1: Financial statements are prepared mainly for:
[<$>]Internal users of financial information
[<$>]External users of financial informaiton
[<$>]Creditors of the business
[<$>]Managers of the business
Câu 2: Identify the external user of financial information or financial statements
[<$>]Management of the business
[<$>]CFO of the business
[<$>]Employees of the business
[<$>]Investors of the business
Câu 3: A statement or report that records the fluctuation in business's capital is referred as
[<$>]Balance sheet
[<$>]Income statement
[<$>]Cash flow statement
[<$>]Statement of changes in equity
Câu 4: Financial statements mainly help in
[<$>]Assumption of economic events
[<$>]Anticipation of economic events
[<$>]Recording of economic events
[<$>]Communication of economic events
Câu 5: Which of the following financial statements shows the financial position of a business at
a specific date?
[<$>]Balance sheet
[<$>]Income statement
[<$>]Cash flow statement
[<$>]Statement of changes in equity
Câu 6: Which of the following financial reports shows the profitable of a business?
[<$>]Balance sheet
[<$>]Income statement
[<$>]Cash flow statement
[<$>]Statement of changes in equity
Câu 7: Which of the following financial statements shows the movement of cash and cash
equivalents in during an accounting period?
[<$>]Balance sheet
[<$>]Income statement
[<$>]Cash flow statement
[<$>]Statement of changes in equity
Câu 8: Which of the following does not appear in Balance sheet?
[<$>]Building
[<$>]Cash
[<$>]Rent expense[<$>]Goodwill
Câu 9: The expenses related to the main operations of business are referred as:
[<$>]Administration expense
[<$>]Non-administration expense
[<$>]Selling expenses
[<$>]Operating expenses
Câu 10: Assets minus liabilities equal to
[<$>]Goodwill
[<$>]Working capital
[<$>]Net income
[<$>]CapitalChapter 6: Disclosure standards,
Câu 1: Which of the following statements are correct?
(1) Only tangible assets (i.e. those with physical substance) are recognised in the financial
statements.
(2) Faithful representation means that the commercial effect of a transaction must always be
shown in the financial statements even if this differs from legal form.
(3) Businesses only report transactions, events and balances that are material to users of the
financial statements.
[<$>] All of them
[<$>] 1 and 2 only
[<$>] 2 only
[<$>] 2 and 3 only
Câu 2: Which one of the following statements best explains the sales account?
[<$>] It is credited with the total of sales made, including sales tax
[<$>] It is credited with the total of sales made, excluding sales tax
[<$>] It is credited with the total purchases made, including sales tax
[<$>] It is credited with the total expenses, excluding sales tax
Câu 3: Which one of the following statements is correct?
[<$>] Carriage inwards and carriage outwards are both accounted for as an expense in the
statement of profit or loss.
[<$>] Carriage inwards and carriage outwards are both accounted for as income in the
statement of profit or loss.
[<$>] Carriage inwards is treated as an expense and carriage outwards is treated as income
in the statement of profit or loss.
[<$>] Carriage inwards is treated as income and carriage outwards is treated as an expense
in the statement of profit or loss.
Câu 4: Which of the following might appear as an item in a company's statement of changes in
equity?
1 Profit on disposal of properties
2 Surplus on revaluation of properties
3 Equity dividends proposed after the reporting date
4 Issue of share capital
[<$>] 1, 3 and 4 only
[<$>] 2 and 4 only
[<$>] 1 and 2 only
[<$>] 3 and 4 only
Câu 5: Which of the following are required as disclosures by IAS 2 Inventories?
1 The amount of write-downs of inventories in the period that have been recognised as an
expense
2 The original cost of inventories that are carried at net realisable value
3 The carrying amount of inventories classified by type (for example, raw materials, work in
progress)
[<$>] 1 and 2 only
[<$>] 1 and 3 only
[<$>] 2 and 3 only[<$>] 1, 2 and 3
Câu 6: Where, in a set of financial statements complied in accordance with international
accounting standards, would you expect to find dividends paid?
(1) Statement of profit or loss and other comprehensive income.
(2) Statement of financial position.
(3) Statement of cash flows.
(4) Statement of changes in equity.
[<$>] (1) and (3)
[<$>] (2) and (3)
[<$>] (1) and (4)
[<$>] (3) and (4)
Câu 7: Which of the following would be a suitable accounting policy note for disclosure in the
financial statements relating to inventory?
[<$>] Inventory is valued at the lower of total cost and total net realisable value.
[<$>] Inventory is valued at the lower of cost and net realisable value for each separate
product or item.
[<$>] Inventory is valued at the higher of cost and net realisable value for each separate
product or item.
[<$>] Inventory is valued at cost for each separate product or item.
Câu 8: In relation to non-current assets, which of the following items should be disclosed in the
notes to the financial statements?
(1) Reconciliation of carrying amounts of non-current assets at the beginning and end of
period.
(2) Useful lives of assets or depreciation rates used.
(3) Increases in asset values as a result of revaluations in the period.
(4) Depreciation expense for the period.
[<$>] (1) and (2) only
[<$>] (1) and (3) only
[<$>] (2), (3) and (4) only
[<$>] (1), (2), (3) and (4)
Câu 9: How are intangible assets disclosed in the statement of financial position?
[<$>] Cost only without any recognition of amortisation or impairment
[<$>] Cost or valuation – amortisation – impairment = Carrying amount
[<$>] The amortisation amount only
[<$>] At the disposal proceeds value
Câu 10: Which one of the following statements is true in relation to disclosure requirements?
[<$>] Disclosure requirements consist only of monetary disclosures
[<$>] Disclosure requirements consist only of narrative disclosures
[<$>] Disclosure requirements consist of both monetary and narrative disclosures
[<$>] Disclosure notes do not form part of the annual financial statements