Trần Cao Nam Anh  CT

Nhà của tôi  Các khoá học của tôi  CHUẨN MỰC BÁO CÁO TÀI CHÍNH QUỐC TẾ 1 ( HỌC KỲ 1 / 2023 -2024)  BÀI KIỂM TRA - QUIZ
ONLINE  CHAPTER 2

CHUẨN MỰC BÁO CÁO TÀI CHÍNH QUỐC TẾ 1 ( HỌC KỲ 1 /

2023 -2024) CHAPTER 2

Bắt đầu vào lúc Saturday, 18 November 2023, 10:54 PM

Trạng thái Đã xong
Kết thúc lúc Saturday, 18 November 2023, 11:34 PM
Thời gian thực hiện 40 phút 36 giây
Điểm 7,20 trên 10,00 (72%)

Câu Hỏi 1 Đúng Đạt điểm 0,40 trên 0,40

How are unallocated overheads treated as per IAS 2?

Select one:
a. Recognise as an expense so long as there is a profit in the current period
b. Recognise as an expense in the period in which they are incurred
c. Treated as an deffered expenditure
d. Capitalised with the cost of inventories

Câu trả lời của bạn đúng

Câu Hỏi 2 Đúng Đạt điểm 0,40 trên 0,40

Any amount of write down of inventories to net relisable value should be…

Select one:
a. Treated as a deffered expense and write off based on the average inventory holding period
b. Recognised as an expense in the period in which the write down occurs
c. Recognised as an expense in the subsequent period in which such write-down is warranted
d. Recognised as a current liability in the Statement of Financial Position

Câu trả lời của bạn đúng

Câu Hỏi 3 Không trả lời Đạt điểm 0,40

General storage costs must be expensed

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Câu Hỏi 4 Đúng Đạt điểm 0,40 trên 0,40

Weighted average : Periodic inventory costing method where ending inventory and cost of goods sold are priced at
the weighted average cost of all items available for sale.

Câu Hỏi 5 Không trả lời Đạt điểm 0,40

This question is corrupted and contains subquestions that are not present in your system. ×

The closing inventory of X amounted to $165,800 excluding the following two inventory lines:
460 items which had cost $4 each. All were sold after reporting period for $3 each, with selling expenses of $200 for the batch.
160 different items which had cost $30 each. These items were found to be defective at the end of the reporting period.
Rectification work after the statement of financial position amounted to $1,200, after which they were sold for $35 each, with selling
expenses totalling $300.
The following total figures should appear in the statement of financial position of X for inventory:
This subquestion is missing from your system and cannot be displayed.
Câu Hỏi 6 Đúng Đạt điểm 0,40 trên 0,40

IAS 2 stipulates that a new assessment of the net realisable value should be made in each subsequent period; when the
reason for a previous write –down no longer exists (i.e, when net realisable value has improved), it should be reserved.

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Câu Hỏi 7 Đúng Đạt điểm 0,40 trên 0,40

raw materials : For a manufacturing firm, materials on hand awaiting entry into the production process.

Câu Hỏi 8 Đúng Đạt điểm 0,40 trên 0,40

joint products : Two or more products produced jointly, where neither is viewed as being more important; in some
cases additional production steps are applied to one or more joint products after a split –off point

Câu Hỏi 9 Đúng Đạt điểm 0,40 trên 0,40

Unallocated fixed overheads maybe applied to the inventory valuation at the end of the financial period.

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Câu Hỏi 10 Sai Đạt điểm 0,00 trên 0,40

Which of the following is allowed as a cost of inventory?

Select one:
a. Selling cost
b. Abnormal waste
c. Storage costs
d. Variable manufacturing overheads

Câu trả lời của bạn sai.

Câu Hỏi 11 Không trả lời Đạt điểm 0,40

This question is corrupted and contains subquestions that are not present in your system. ×

Ximeland has the following products in inventory at the year end :

Product-------Quality-------Cost-------Selling price-------Selling cost
X----------------920------------$40---------$55--------------------$8
Y----------------1,260-----------$15---------$25--------------------$4
Z----------------1,500----------$23---------$27--------------------$5
The amount of inventory be stated in the statement of financial position :
This subquestion is missing from your system and cannot be displayed.

Câu Hỏi 12 Đúng Đạt điểm 0,40 trên 0,40

Markdown : Decrease below original retail price.

Câu Hỏi 13 Đúng Đạt điểm 0,40 trên 0,40

A company has decided to switch from using FIFO method of inventory valuation to using the average cost method (AVCO).
In the first accounting period were the change is made, opening inventory valued by the FIFO method was $53,200. Closing
inventory valued by the AVCO method was $54,000. Total purchases and during the period were $69,900. Using the AVCO method,
opening inventory would have been valued at $182,200.
The cost of materials that should be included in the statement of profit or loss for the period : $198,100

Câu Hỏi 14 Đúng Đạt điểm 0,40 trên 0,40

In the case of commondity broker-traders’ inventory, IAS 2 permits that these inventories can be valued at Net
realisable value less costs to sell.

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Câu Hỏi 15 Đúng Đạt điểm 0,40 trên 0,40

retail method : Inventory costing method that uses a cost of ratio to reduce ending inventory (valued at retail) to cost.
Cost of inventory determined by reducing the sales value of inventories by the appropriate percentage gross margin.
Câu Hỏi 16 Đúng Đạt điểm 0,40 trên 0,40

goods in transit : Goods being shipped from seller to buyer at year-end

Câu Hỏi 17 Đúng Đạt điểm 0,40 trên 0,40

According to IAS 2, the primary basic of accounting for inventory is Fair value

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Câu Hỏi 18 Đúng Đạt điểm 0,40 trên 0,40

inventories : Assets held for sale in the normal course of business, or which are in the process of production for such
sale.

Câu Hỏi 19 Đúng Đạt điểm 0,40 trên 0,40

IAS 2 stipulates that a new assessment of the net realisable value should be made in each subsequent period; when the
reason for a previous write –down no longer exists (i.e, when net realisable value has improved), it should be reserved.

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Câu Hỏi 20 Đúng Đạt điểm 0,40 trên 0,40

joint products : Two or more products produced jointly, where neither is viewed as being more important; in some
cases additional production steps are applied to one or more joint products after a split –off point

Câu Hỏi 21 Không trả lời Đạt điểm 0,40

At 31 March Tentacle had 5,500 units of production W32 in inventory, included at cost of $16 per unit. During April and May 2017
units of were being sold at a price of $10 each, with sales staff receiving a 15% commission on the sales price of the product.
The amount of inventory of product W32 be recognised in the in the financial statements of Tentacle as 31 March 2017 :
Câu Hỏi 22 Không trả lời Đạt điểm 0,40

: Cost flow assumption, the last goods purchased are

assumed to be the first goods sold.

Câu Hỏi 23 Đúng Đạt điểm 0,40 trên 0,40

Standard costing is often useful for management (internal) system reporting under some conditions.

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Câu Hỏi 24 Đúng Đạt điểm 0,40 trên 0,40

Unallocated fixed overheads maybe applied to the inventory valuation at the end of the financial period.

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Câu Hỏi 25 Không trả lời Đạt điểm 0,40

The inventory value for the financial statements of Pepper Co. for the year ended 31 December 2017 was based on an invnetory
count on 4 January 2018, which gave a total inventory value of $ 707,100. Between 31 December and 4 Jan 2018, the following
transactions took place: Purchases of goods $ 15,300, sales of goods (profit margin 30% on sale) $14,000, goods returned by Pepper
Co. to supplier $ 1,200.
The adjusted figure should be included in the financial statements for inventories at 31 December 2017:

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