1. Which of the following is not true concerning a conceptual framework in accounting?
a.It should be a basis for standard-setting b.It should allow practical problems to be solved more quickly by reference to it c.It should be based on fundamental truths that are derived from the laws of nature d.All of these answers are correct 2. Which of the following basic elements of financial statements is more associated with the statement of financial position than the income statement? a.Income b.Expenses c.Gains d.Equity 3. Which of the bodies listed below is responsible for reviewing International Accounting Standards and issuing guidance on their application? a.International Accounting Standards Board b.IFRS Interpretation Committee c.IFRS Foundation d.IFRS Advisory Council 4. What is a purpose of having a conceptual framework? a.To provide comparable information for different companies b.To enable the profession to more quickly solve emerging practical problems and to provide a foundation from which to build more useful standards c.To segregate activities among competing companies d.To make sure that economic activity can be identified with a particular legal entity 5. Company A issuing its annual financial reports within one month of the end of the year is an example of which enhancing quality of accounting information? a.Timeliness b.Understandability c.Comparability d.Verifiability 6. Which of the following is a fundamental quality of useful accounting information? a.Conservatism b.Comparability c.Faithful representation d.Consistency 7. What is meant by comparability when discussing financial accounting information? a.Information has predictive or feedback value b.Information is reasonably free from error c.Information is timely d.Information that is measured and reported in a similar fashion across companies 8. Which one of the following would be classified as a liability? a.Carter has estimated the tax charge on its profits for the year just ended as $165,000. b.Reckless purchased an investment 9 months ago for $120,000. The market for these investments has now fallen and Reckless's investment is valued at $90,000. c.Dexter's business manufactures a product under licence. In 12 months' time the licence expires and Dexter will have to pay $50,000 for it to be renewed. d.Expansion is planning to invest in new machinery and has been quoted a price of $570,000. 9. Comparability is identified as an enhancing qualitative characteristic in the IASB's Conceptual Framework for Financial Reporting. Which of the following does NOT improve comparability? a.Disclosing discontinued operations in financial statements b.Applying an entity's current accounting policy to a transaction which an entity has not engaged in before c.Prohibiting changes of accounting policy unless required by an IFRS or to give more relevant and reliable information d.Restating the financial statements of previous years when there has been a change of accounting policy 10. Which of the following is a possible advantage of a rules-based system of financial reporting? a.It ensures that no standards conflict with each other b.It encourages the exercise of professional judgement c.It prevents a fire-fighting approach to the formulation of standards d.It offers accountants more protection in the event of litigation
P1 P2 P3 P4 Đơn giá bán (đ) 100.000 160.000 200.000 50.000 Biến phí đơn vị (đ) 50.000 100.000 180.000 40.000 Số dư đảm phí đơn vị (đ) 50.000 60.000 20.000 10.000 Số giờ máy đơn vị 2 4 4 2