国际会计第四章练习

1、 一、Single Choice 1. In highly inflationary economies, firms would experience a monetary loss because of holding (). A. Monetary liabilitiesB. Monetary assets C. Non- monetary assetsD. All of the above最新国际会计第四章练习 3. Which country expenses all R&D outlays when they are incurred? (C ). A. U.K. B. Germa

2、ny C. U.S. D. China最新国际会计第四章练习 4. Which of the following treatments for intangible assets isnt correct? ( A ) A. Many companies recognize internally generated brands as assets in American B. Intangible assets that have finite useful lives are to be amortized over their useful lives in SFAS 142 C. Al

3、l R&D outlays should be expensed when they are incurred in the US D. Research costs should be expensed immediately in IAS38最新国际会计第四章练习 5. Which of the following description about the goodwill in American isnt correct? (D ) A. Purchased goodwill meets the criteria for asset recognition while internal

4、ly generated goodwill doesnt B. Goodwill is the excess of the value of an ongoing business over the value of the individual identifiable net assets of the business C. Positive goodwill is the total price paid for an acquired business is higher than the fair value of its net identifiable assets D. Re

5、cognized goodwill with finite useful lives should be amortized最新国际会计第四章练习 6. During a high-inflationary period, if Current Cost-Adjusted Model is used in translation, an entity would Gain from holding (C ) A. Monetary Assets B. Equipment borrowed from other entities C. Long-term debt borrow from ban

6、ks D. Non- monetary Liabilities最新国际会计第四章练习 二、Multiple Choice 1. The reasons that recognized goodwill should be systematically amortized are (AB ) A. goodwill has a finite life and erodes over time. B. the purchased goodwill is of necessity replaced by internally generated goodwill. C. goodwill has a

7、n infinite life and even enhanced over time D. systematically amortized is inherently arbitrary. E. systematically amortized would result in a double hit against future earnings.最新国际会计第四章练习 2. In segment financial reporting, which of the following classifications are not classified by business segme

8、nt (comparing to geographical segment)? (ABE ) A. The nature of the products or services B. The nature of the production processes C. Relationship between operations in different geographic areas D. Special risks associated with operations in a particular area E. The methods used to distribute the p

9、roducts or provide the services最新国际会计第四章练习 三、True or False 1. In high-inflation environment, countries use inflation-adjusted models to provide more decision-relevant information. ( ) 2. Many companies recognize internally generated brands as assets in Australia. ( ) 3. A weakness of the historical

10、cost model is that it does not account for changes in the purchasing power of the currency that is used in the financial statements. ( )最新国际会计第四章练习 4. Intangible assets that have indefinite useful lives are to be amortized over their useful lives. (X ) 5. In purchased goodwill, if the total price pa

11、id for an acquired business is higher than the fair value of its net identifiable assets, it is a negative goodwill. ( X) 6. Geographic segment reporting can provide more information on future corporate performance. ( ) 7. Different from historical-cost model, the CCA model account for changes in th

12、e general purchasing power of the reporting currency over time. (X)最新国际会计第四章练习 Case Problem 1、The monetary assets and liabilities of Cowboy U.S. are as follows: January 1, 2012December 31, 2012 Monetary assets 500 000 1 700 000 Monetary liabilities300 000 1 110 000 General price level index:January

13、1, 2012 100Average for 2012 150December 31, 2012 160 (1) Please compute net monetary asset/liability position on Jan 1, 2012 and December 31, 2012, then calculate its change 2012. (2) Please compute monetary gain/loss on beginning monetary asset/liability position. (3) Please compute monetary gain/l

14、oss on change for 2012. (4) Please compute the net monetary gain/loss, then judge whether the company experienced net monetary loss or gain in 2012. 最新国际会计第四章练习 (1) Net Asset position on 1st Jan: 500 000-300 000=200 000(2) Net Asset Position on 31st Dec: 170= 590 000 (1) Change in 2012: 590000 20000

15、= 39 000(1) (2) Monetary loss on beginning monetary assets position:(500 000-300 000)*160/100-200 000=120 000(2) (3) Monetary loss on change for the year: 390 000*160/150-390 000=26 000 (2) (4) Net monetary loss for the year: 120 000+26 000=146 000.(2)最新国际会计第四章练习 2、The monetary assets and liabilitie

16、s of Cowboy U.S. are as follows: January 1, 2012 December 31, 2012 Monetary assets $ 25 000 $32 000 Monetary liabilities ($ 36 000) ($40 000) General price level index:January 1, 2012 100Average for 2012 103December 31, 2012 110 (1) Please compute net monetary asset/liability position on Jan 1, 2012

17、 and December 31, 2012, then calculate its change 2012. (2) Please compute monetary gain/loss on beginning monetary asset/liability position. (3) Please compute monetary gain/loss on change for 2012. (4) Please compute the net monetary gain/loss, then judge whether the company experienced net moneta

18、ry loss or gain in 2012. 最新国际会计第四章练习 (1) Net Liability position on 1st Jan: 2500-3600=($11 000)(4) Net Liability Position on 31st Dec: 3200-4000= ($8 000) Change in 2012: -8 000 (-11 000) = $3000 (2) Monetary Gain: 11 000 x (110/100 -1) = $1 100 gain(2) (3) Monetary loss on Change: 3000 x (110/103 -1) = $ 203.88 loss(2) (4)Net Monetary gain: $1 100 - $ 203.88 = $ 896.12 gain(2)最新国际会计第四章练习 4. If we know a companys inventory information on January 2000,as the following, Please compute the Realized Holding Gains and change of Unrealiz