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Câu 1: Which of the following financial statement provides relevant information about the amount of
cash and cash equivalents which are received and paid for a period of time?
A. Income statement
B. Statement of Cashflows
D. Disclosure notes
Câu 2: ABC company applies a perpetual inventory system and purchased 1.000 units of merchandise.
All goods are received and stored in the warehouse, and all payments are made by cash in bank. The
invoice price (including a 10% deductible VAT rate) is 132$ for each unit. The journal entry to record is :
(Unit : $)
- Revenue $2.000, Cost of goods sold $1.500, administrative and selling expense : $50. other income :
$30, other expense : $15, income tax expense : S10. In ABC's Income statement, gross profit is :
A. 450
B. 455
C. 500
D. 465
Câu 4: On the statement of cash flows (direct method), providing services to customers on a credit term
(without receiving payment) affects :
A. Building
B. Patent
C. Machinery
D. Vehicle
Câu 6: At the end of the year, the company determines the amount of bad debts that need to be made
provision to be VND 20 million, knowing the opening balance of account 2293 is VND 100 million, the
following accounts shall be recorded:
D. None is correct
Câu 7: ABC is the seller and XYZ is the buyer in a contract, which is signed on November 25, 20X1. ABC
places $10,000 of merchandise on a delivery vehicle on December 30, 20X1, and the goods arrive at
XYZ's warehouse on January 5, 20X2. The contract states that the seller is responsible until the goods
reach the buyer's warehouse. XYZ should record an inventory on :
D. January 5, 20X2
Câu 8: In the statement of financial position, the item "Cash equivalent" shows which of the following :
A. A financial investment with a term of 3 months or less, with little risk of converting into a definite
amount of money
B. Receivables from customers with term of 3 months or less, not much risk in debt collection
C. Money deposited by the business in a bank account, which can be used for payment without much
risk.
A. Managerial accounting primarily provides information to external users such as investors and
creditors
B. Financial accounting primarily provides information to external users such as investors and creditors
C. Financial accounting primarily provides information to internal users such as directors and managers
D. Managerial accounting provides information to internal users and external users as well
Câu 10: ABC company has information in the Statement of financial position at the end of its first year of
operation : Total assets : $7,000; Total liabilities : $2.000; Issued capital : $1.000. During this year.
ABC has paid $300 dividends to investors ABC's equity includes issued capital and retained earnings.
What amount is the net income in the Income statement?
A. 4.300
B. 3.700
D. 4.000
D. 7,300
Câu 11: The credit opening balance of Account Provision for inventory-2294 is 300$.
At the end of the year, when checking for the status of the ending inventory, the company discovers
that a cargo of finish goods is going to be out of date. It costs 1.000$. Its net realisable value is estimated
at 900$. What journal entry should be recorded?
Câu 12: Use the following information to determine when a law firm should record (or recognize)
revenue : A contract was signed in March for legal work completed by this law firm in April. The client
agreed to pay for the completed work in May and the law firm received payment in early June.
A. May
B. April
C. June
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D. March
Câu 13: ABC Company sells factory equipment for a total price of 55 million VND, which includes a VAT
rate of 10%. The equipment costs 100 million VND and has a carrying amount until the disposal date of
60 million VND. Payment is made by cash in bank. The journal entries to record the income received
from this transaction is
A. Investors
B. Auditor
C. CEO
D. Accounting department
Câu 15: A tool, which costs 5 million VND, is issued from the warehouse to be used in 1 accounting
period for administrative activities. At the date of issuing the tool, the journal entry is :
A. Trade payable
B. Unearned Revenue
C. Revenue
D. Tax payable
ABC Itd reported accounts receivable and allowance for uncollectible accounts of 471,000 and 1,650
respectively, at December 31, 2021. During 2022, ABC's credit sales and collections were 315.000 and
319.000. respectively, and 1.720 in accounts receivable were written off. The company estimates the
required allowance for uncollectible accounts to be 1.575.
A. 1.720.
B. 1.650.
C. 1.505.
D. 1.575.
Câu 18: On December 22, 20X1. ABC company purchases a machine for $40,000 cash. The machine has
an estimated service life of 5 years and an estimated residual value of $2.800. What is the straight-line
depreciation for the year 20X1? (rounded to the nearest number)
A. 200$
B. 180$
C. 7.440$
D. 215$
Câu 19: ABC Ltd., a real estate company, held a building for sale in an ordinary course of business. This
building costs 10 billion VND. The building should be presented in the Statement of Financial Position of
ABC Ltd. as...?
A. Cash
B. Investment
C. Inventory
D. Fixed asset
Câu 20: At the end of its 2021 financial year, ABC company received an order from a customer for
$60.000. The merchandise will ship early in 2022. Because the sale was made to a long-time customer
and the invoice was paid in 2021, the accountant recorded the revenue in 2021. Do you agree with this
practice?
Câu 21: ABC company is preparing its annual report for the current financial year. How to disclose
information about the following items: (i) Allowance for uncollectible debts (ii) Summary of significant
accounting policies
Câu 22: ABC company applies a perpetual inventory system and purchased 1.000 units of merchandise.
The seller has delivered the goods, but until the end of the accounting period, all goods are still in
transit. The delivery term states that the buyer is responsible once the goods are on delivery. At the end
of the accounting period, the goods are recorded on ABC's accounting system as:
C. Merchandise-Account 156
D. It does not provide information for assessing liquidity and long-term solvency
Câu 24: The credit opening balance of Account Provision for inventory - 2294 is 300$. At the end of the
year, when checking for the status of the ending inventory, the company discovers that a cargo of
merchandise is going to be out of date. It costs 1000$. Its net realisable value is estimated at 400$. What
journal entry should be recorded?
D. None is correct.
C. Increases in equity resulting from transfers of assets to the company from owners.
Câu 27: According to Vietnamese regulations, cash outflows from financing activities includes :
Câu 28: Which of the following is included in the cost of a fixed asset?
C. Development costs when internally generating intangible assets, if they meet the criteria required by
the Accounting Standard.
Câu 29: The allowance for doubtful debts in the statement of financial position presents :
Câu 30: ABC Company sells factory equipment for a total price of 55 million VND, which includes a VAT
rate of 10%. The equipment costs 100 million VND and has a carrying amount until the disposal date of
60 million VND. Payment is made by cash in bank. The journal entries to record the expense incurred
from this transaction is
Câu 31: Office equipment has original cost of 170,000,000 VND, accumulated depreciation is 34,000,000
VND. So, information about office equipment on the Financial Statement is presented as follows:
A. Tangible fixed assets: VND 136,000,000. - Cost: 170,000,000 VND, - Accumulated depreciation:
(34,000,000 VND)
B. Tangible fixed assets: - Cost: 170,000,000 VND,- Accumulated depreciation: 34,000,000 VND
C. Tangible fixed assets: VND 136,000,000 - Cost: VND 170,000,000,- Accumulated depreciation
34,000,000 VND
D. Tangible fixed assets: VND 170,000,000 - Cost: VND 136,000,000 - Accumulated depreciation: VND
34,000,000
Câu 32: ABC company purchased on account an office building located on a plot of land. The total
purchase price is 10 billion VND. 60% of the total price is allocated to the land.
Ignoring the tax. The journal entry to record this transaction is:
Câu 33: At the end of the period, the business has 2 customers: X and Y. Of which, X owes the business:
250 million VND. He is giving the business 50 million VND in advance. All will be paid in the short term.
The financial position statement is presented as follows:
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A. Current assets: receivables from customers: 250 million VND; Short-term liabilities: advance from
customers: 50 million VND
C. Current assets: receivables from customers: 200 million VND; Short-term liabilities: advance from
customers: 50 million VND
Câu 34: On January 1, 20x1, ABC purchased equipment for $50.000 cash. The equipment has an
estimated service life of 5 years and an estimated residual value of $5.000. What is the straight-line
depreciation for the year 20X1? (rounded to the nearest number)
A. 9.000$
B. 10.000$
C. 0,55
D. 0.45S
Câu 35: Purchased 1.000 units of merchandise. The price without VAT is 300.000 VND for each unit, the
VAT rate is 10%. VAT is deductible. The cost of the whole cargo is :
A. 270.000.000 VND
B. 1000 VND
C. 330.000.000 VND
D. 300.000.000 VND
A. The statement of financial position. Income statement, The Monetary report, the Annual report
B. The statement of financial position, Balance Sheet, The Monetary report, the Disclosure Notes
C. The statement of financial position. Income statement, The statement of cashflows, the Auditor's
opinion
D. The statement of financial position. Income statement. The statement of cashflows, the Disclosure
Notes
Câu 37: Which of the following items are recorded in Account 131 "Trade Receivables"?
Câu 39: During this year, ABC company has following information :
- Revenue $2,000, Cost of goods sold $1.500. selling expense : $50. other income : $30, other expense :
$15, income tax expense : $10. In ABC's Income statement, Net profit after tax is
A. 455
B. 465
C. 450
D. 500
Câu 40: ABC company has note payable of $300.000, which is to be paid in 6 annual payments of
$50.000 each. The first payment is due on December 31, 2022. How should it be presented in the
Statement of financial position at December 31. 2021 (ABC's operating cycle is less than 12 months)?