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第一章 单元测试
1、单选题：
Which of the following is not a requirement in the financial statements under IAS 1?
A:Name of the entity
B:Whether accounts cover a single entity or a group
C:Chairman’s commentary on performance
D:The accounting periods
答案: Chairman’s commentary on performance
2、单选题：
When a company issues shares for more than their nominal amount, the excess is called…
A:Share excess
B:Share premium
C:Share markup
D:Par value
答案: Share premium
3、单选题：
What is the term used to describe the time between the acquisition of assets for processing and their realization in cash or cash equivalents?
A:Processing cycle
B:Turnover
C:Operating cycle
D:Turnaround
答案: Operating cycle
4、单选题：
Under IAS 1, how often should financial statements be prepared?
A:At least annually
B:No more than annually
C:As often as the company requires
D:Monthly
答案: At least annually
5、单选题：
Which of the following is not a component of a Statement of Financial Position?
A:Non-current assets
B:Inventories
C:Cost of goods sold
D:Retained Earnings
答案: Cost of goods sold
6、单选题：
Which of the following is not a required disclosure under IAS 1?
A:Number of employees
B:Assets held for sale
C:Provisions
D:Intangible assets
答案: Number of employees
7、单选题：
Which sections of an annual report do IFRSs apply to?
A:Management report
B:Financial statements
C:Auditors report
D:Entire annual report
答案: Financial statements
8、单选题：
The statement of cash flows is
A:a legal requirement for all business entities
B:an alternative to the balance sheet
C:covered in IAS (International Accounting Standard) 7
D:an alternative to the income statement account
答案: covered in IAS (International Accounting Standard) 7
9、单选题：
The cash flow direct method calculates cash generated from operations from
A:analysis of all receipts and payments relating to operating activities
B:operating profit
C:changes in working capital
D:analysis of the changes in cash and overdraft levels
答案: analysis of all receipts and payments relating to operating activities
第二章 单元测试
1、单选题：
Which of the following statements are correct:
i) Problems of revenue recognition would not have arisen if accounting applied the venture concept or only upon receipt in cash of all amounts earned.
ii) The sale of an item with a warranty to restore it to workable condition up to a year after sale may be recognised as income if the commitment involved can be measured.
iii) No income is recognised unless its amount is established objectively.
A:i, ii and iii
B: i, ii, iii and iv
C: i and ii
D: i only
答案: i, ii, iii and iv
2、单选题：
Which of the following statements are correct in respect of a business which produces goods to be held as inventory, ready for sale.
i) Sales income should not be recognised until a buyer is found and price is agreed on
ii) Sales income should not be recognised if the buyer is in another country and receipt of the amount depends on whether the buyer receives exchange clearance from government.
iii) Sales income should be recognised only when proceeds are received.
iv) Whether the sale is recognised at point of sale, delivery or invoicing depends on what its practice has been in the past.
A:i, ii,iii and iv
B: i,ii and iv
C: i, ii and iii
D: i only
答案: i,ii and iv
3、单选题：
It is usual for a retail shop to recognize revenue when:
A:The goods for sale have arrived from the supplier
B:The customer becomes legally obliged to pay for the goods
C:The goods have been delivered to the customers’ premises
D:The customer pays for the goods sold
答案: The customer becomes legally obliged to pay for the goods
4、单选题：
A trader sells computer hardware with a warranty that he is responsible for any repair within a year of sale. He may recognise the sales income at the point of sale because:
A:It is unlikely that repairs will become necessary within the first year
B:There is a possibility of not undertaking the repairs blaming the customer for wrong usage
C:That is usually the practice among such traders
D:From experience the trader can quantify the cost of such repairs and account for it separately
答案: From experience the trader can quantify the cost of such repairs and account for it separately
5、单选题：
Rachel manufactures surgical gloves. Upon receiving an order from a hospital for supplying them with their requirements for three years ending on 31st December 2012, she raised an invoice for £15,000 and has accounted for it by crediting Sales account and debiting Receivables account. For preparing the financial statements in respect of the year ended 31st December 2010 the adjusting entries required are:
A:Debit Sales account and credit Deferred income account with £10,000
B:Debit Receivables account and credit Deferred Income account with £10,000
C:Debit Sales account and credit Cash account with £10,000
D:Debit Sales Account and credit Receivables account with £10,000
答案: Debit Sales Account and credit Receivables account with £10,000
6、单选题：
Which of the following is not an inventory?
A:Machines
B:Raw material
C:Finished products
D:Consumable tools
答案: Machines
7、单选题：
The following classes of costs are usually involved in inventory decisions except
A:Cost of ordering
B:Carrying cost
C:Cost of shortages
D:Machining cost
答案: Machining cost
8、单选题：
The cost of insurance and taxes are included in
A:Cost of ordering
B:Set up cost
C:Inventory carrying cost
D:Cost of shortages
答案: Inventory carrying cost
9、单选题：
An inventory, which consists of partially worked goods is called
A:direct materials inventory
B:work in process inventory
C:finished goods inventory
D:indirect material inventory
答案: work in process inventory
10、单选题：
An inventory which consists of stock waiting to be used In process of manufacturing is known as
A:finished goods inventory
B:indirect material inventory
C:direct materials inventory
D:work in process inventory
答案: direct materials inventory
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