Quizzes - Topic 2

Quizzes - Topic 2: Xem lại bài làm 18:05, 14/05/2023
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Nhà của tôi " Các khoá học của tôi " IA 1 - 23D1ACC50705504 (FRI, 24.3 - 19.5) - PTHANH
" Topic 2. Property, Plant and Equipment (PPEs) " Quizzes - Topic 2
Bắt đầu vào lúc Sunday, 14 May 2023, 6:03 PM

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Kết thúc lúc Sunday, 14 May 2023, 6:04 PM
Thời gian thực hiện 1 phút
Điểm 10,00 trên 10,00 (100%)
Câu Hỏi 1 Hoàn thành Đạt điểm 1,00 trên 1,00
Which of the following statements are correct? 1/ IAS 16 Property, plant and equipment
requires entities to disclose the purchase date of each asset. 2/ The carrying amount of
a non-asset is the cost or valuation of that asset less accumulated depreciation. 3/ IAS
16 Property, plant and equipment permits entities to make a transfer from the
revaluation surplus to retained earnings for excess depreciation on revalued assets. 4/
Once decided, the useful life of a non-current asset should not be changed.
Select one:
a. 1, 2 and 3
b. 2 and 3
c. 1, 2 and 4
d. 2 and 4
https://lms.ueh.edu.vn/mod/quiz/review.php?attempt=827659&cmid=232083 Trang 1 / 6
B acquired a lorry on 1 May 20X0 at a cost of $30,000. The lorry has an estimated
useful life of four years, and an estimated resale value at the end of that time of
$6,000. B charges depreciation on the straight line basis, with a proportionate charge
in the period of acquisition. What will the depreciation charge for the lorry be in B’s
accounting period to 30 Sept 20X0?
Select one:
a. $2,000
b. $3,000
c. $5,000
d. $2,500
What is the purpose of charging depreciation in accounts?
Select one:
a. To ensure that funds are available for the eventual replacement of the asset
b. To allocate the cost of a non-current asset over the accounting periods expected to
benefit from its use
c. To account for the ‘wearing out’ of the asset over its life
d. To reduce the cost of the asset in the statement of financial position to its estimated
market value
Which of the following should be disclosed for tangible non-current assets according to
IAS 16 Property, plant and equipment? 1/ Depreciation methods used and the total
depreciation allocated for the period. 2/ A reconciliation of the carrying amount of non-
current assets at the beginning and end of the period. 3/ For revalued assets, whether
an independent valuer was involved in the valuation. 4/ For revalued assets, the
e!ective date for the revaluation
Select one:
a. 1 and 2
b. 1, 2 and 4
c. 1, 3 and 4
d. 1, 2, 3 and 4
A company bought a property 4 years ago from 1 Jan for $170,000. Since then property
prices have risen substantially and the property has been revalued at $210,000. The
property was estimated as having a useful life of 20 years when it was purchased. What
is the balance on the revaluation surplus reported in the statement of financial
position?
Select one:
a. $34,000
b. $74,000
c. $210,000
d. $136,000
The carrying value of a company’s non-current assets was $200,000 at August 20X0.
During the year ended 31 Jul 20X1, the company sold non-current assets for $25,000
on which it made a loss of $5,000. The depreciation charge for the year was $20,000.
What was the carrying value of non-current assets at 31 Jul 20X1?
Select one:
a. $155,000
b. $150,000
c. $160,000
d. $180,000
Which one of the following statements correctly defines non-current assets?
Select one:
a. Non-monetary assets without physical substance that are controlled by the entity and
from which future benefits are expected to flow
b. Assets in the form of materials or supplies to be consumed in the production process
c. 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
d. Assets which are intended to be used by the business on a continuing basic, including
both tangible and intangible assets that do not meet the IASB definition of a current
asset
A company sells machine B for $50,000 cash on 30 Apr 20X4. Machine B cost $100,000
when it was purchased and has a carrying value of $65,000 at the date of disposal.
What are the journal entries to record the disposal of machine B?
Select one:
a. Dr Accumulated depreciation: $65,000; Dr Loss on disposal (SPL): $35,000 / Cr Non-

current assets – cost: $100,000
b. Dr Accumulated depreciation: $35,000; Dr Non-current assets – cost: $65,000 / Cr

Profit on disposal (SPL): $50,000; Cr Cash: $50,000
c. Dr Accumulated depreciation: $35,000; Dr Loss on disposal (SPL): $15,000; Dr Cash:

$50,000 / Cr Non-current assets – cost: $100,000
d. Dr Accumulated depreciation: $35,000; Dr Cash: $50,000 / Cr Non-current assets –

cost: $65,000; Cr Profit on disposal (SPL): $20,000
W bought a new printing machine. The cost of machine was $80,000. The installation
cost was $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 customer’s order, a test was
undertaken and the paper and ink cost $1,000. What should be the cost of the machine
in the company’s statement of financial position?
Select one:
a. $88,000
b. $80,000
c. $86,000
d. $85,000
Which one of the following would occur if the purchase of computer stationary was
debited to the computer equipment at cost account?
Select one:
a. An overstatement of profit and an overstatement of non-current assets
b. An overstatement of profit and an understatement of non-current assets
c. An overstatement of profit and an understatement of non-current assets
d. An understatement of profit and an overstatement of non-current assets
◀ VD - CD2.PPEs Topic 3 - Intangible

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Quizzes - Topic 2: Xem lại bài làm 18:05, 14/05/2023

Bắt đầu vào lúc Sunday, 14 May 2023, 6:03 PM

Câu Hỏi 1 Hoàn thành Đạt điểm 1,00 trên 1,00

Câu Hỏi 2 Hoàn thành Đạt điểm 1,00 trên 1,00

Câu Hỏi 3 Hoàn thành Đạt điểm 1,00 trên 1,00

What is the purpose of charging depreciation in accounts?

Câu Hỏi 4 Hoàn thành Đạt điểm 1,00 trên 1,00

Câu Hỏi 5 Hoàn thành Đạt điểm 1,00 trên 1,00

Câu Hỏi 6 Hoàn thành Đạt điểm 1,00 trên 1,00

Câu Hỏi 7 Hoàn thành Đạt điểm 1,00 trên 1,00

Which one of the following statements correctly defines non-current assets?

b. Assets in the form of materials or supplies to be consumed in the production process

Câu Hỏi 8 Hoàn thành Đạt điểm 1,00 trên 1,00

a. Dr Accumulated depreciation: $65,000; Dr Loss on disposal (SPL): $35,000 / Cr Non-

b. Dr Accumulated depreciation: $35,000; Dr Non-current assets – cost: $65,000 / Cr

c. Dr Accumulated depreciation: $35,000; Dr Loss on disposal (SPL): $15,000; Dr Cash:

d. Dr Accumulated depreciation: $35,000; Dr Cash: $50,000 / Cr Non-current assets –

Câu Hỏi 9 Hoàn thành Đạt điểm 1,00 trên 1,00

Câu Hỏi 10 Hoàn thành Đạt điểm 1,00 trên 1,00

a. An overstatement of profit and an overstatement of non-current assets

b. An overstatement of profit and an understatement of non-current assets

c. An overstatement of profit and an understatement of non-current assets

d. An understatement of profit and an overstatement of non-current assets

◀ VD - CD2.PPEs Topic 3 - Intangible

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