国际会计智慧树知到期末考试答案章节答案2024年江苏大学

国际会计智慧树知到期末考试答案+章节答案2024年江苏大学Underthecurrentratemethodoftranslatingforeigncurrencyfinancialstatements,whatistheamountofthebalancesheetexposure（）。

答案:Itisequaltototalassetsminustotalliabilities.WhatgroupisprimarilyresponsibleforthecreationofInternationalFinancialReportingstandards.（）。

答案:InternationalAccountingStandardsBoardUndergeneralpurchasingpoweraccounting,howisthegainorlossinpurchasingpowerreported?（）

答案:asanelementofincomeinthecurrentyearHoldingmonetaryassetsduringaperiodofinflationresultsin（）:

答案:purchasingpowerlosses.Whichofthefollowingarereasonstoreportsegmentedaccountinginformationformultinationalenterprises?（）

答案:Alloftheabovearereasonsforsegmentedreporting.Whattermisusedtodescribecombingthefinancialstatementsofallsubsidiaries,bothforeignanddomestic,intothefinancialstatementoftheparent（）。

答案:ConsolidationHowshouldU.S.companiesrecordreceivablesandpayablesfrominternationaltradethataredenominatedinforeigncurrencies（）。

答案:Whatismeantbythe“translation”offoreigncurrencyfinancialstatements?（）

答案:convertingfinancialstatementsofaforeigncurrencyintoadomesticcurrencyWhatis“assetexposure”toforeignexchangerisk（）。

答案:Thepossibilitythatanassetdenominatedinaforeigncurrencywillchangeinvaluebecauseofachangeintheforeignexchangerate.Homeko,Inc.islocatedintheU.S.,butithassubsidiariesinGermany.WhentheeuroappreciatesrelativetotheU.S.dollar,whatisthedirectionofthetranslationadjustmenttoconsolidateHomeko'sfinancialstatements（）。

答案:Whenthereisnetassetexposure,thetranslationadjustmentwillbepositive.Underthecurrentratemethodoftranslatingforeigncurrencyfinancialstatements,whatexchangerateshouldbeusedforcostofgoodssold（）.

答案:Averagerateduringtheyear.Thefactorusedtoconvertfromonecountry’scurrencytoanothercountry’scurrencyiscalledthe（）。

答案:ExchangerateWhichitemsinthebalancesheetaresubjecttoaccountingexposure（）。

答案:Allaccountstranslatedatcurrentexchangerates.WhatexchangerateshouldbeusedtotranslatethecommonstockofEsscoLtd,aforeignsubsidiaryofPeakoCorp.,whenconsolidatingthefinancialstatementsusingthecurrentratemethod（）.

答案:Historicalrate.Whatisanothertermfor“balancesheetexposure（）。

答案:Translationexposure.Whatisaforeigncurrencytransaction?（）。

答案:Itisabusinessdealdominatedinacurrencyotherthanacompany’sdomesticcurrency.ThenumberofU.S.DollarrequiredtodaytobuyoneRMBYuantodayiscalled（）。

答案:ThespotrateCompaniesmustchoosebetweenwhichexchangeratesforconsolidatingforeignsubsidiaries（）。

答案:Currentrateandhistoricalrate.Arepresentativemarketbasketofproductscost$250atthebeginningoftheyear,andthesamecollectionofproductscosts$280attheendoftheyear.Whatistheannualrateofinflation（）。

答案:12%.Undergeneralpurchasingpoweraccounting,howisthegainorlossinpurchasingpowerreported（）。

答案:Asanelementofincomeinthecurrentyear.Whatisexchangerate（）。

答案:Thepricetobuyaforeigncurrency.Thefactorusedtoconvertfromonecountry’scurrencytoanothercountry’scurrencyiscalledthe（）。

答案:Exchangerate.ThenumberofU.S.DollarrequiredtodaytobuyoneRMBYuantodayiscalled（）。

答案:Thespotrate.Whatisaforeigncurrencytransaction（）。

答案:Itisabusinessdealdominatedinacurrencyotherthanacompany’sdomesticcurrency.ThenumberofRMBYuantodaytobuyoneU.S.Dollarsixmonthsfromnowiscalled（）。

答案:Theforwardrate.GovernancemechanismsarehistoricallystrongerinGermanyandJapanthanintheUnitedKingdomandUnitedStates.（）

答案:错Whichofthefollowingarereasonstoreportsegmentedaccountinginformationformultinationalenterprises（）。

答案:AlloftheabovearereasonsforsegmentedreportingAccountingisorientedtowardfairpresentationdespitecodelawlegalsysteminMexico,Generalprice-levelaccounting(inflation-adjustedfinancialstatements)areafundamentalfeature.（）

答案:对InventorymustbevaluedatcostorthelowerofcostornetrealizablevalueinJapan.FIFOandaverageareallacceptablecost-flowmethods,withaveragethemostpopular.（）

答案:错LIFO,FIFO,andaveragecostmethodsarepermissibleandwidelyusedforinventorypricinginU.S.LIFOispopularbecauseitcanbeusedforfederalincometaxpurposes.However,ifLIFOisusedfortaxpurposes,itmustalsobeusedforfinancialreportingpurposes.（）

答案:对AccountingintheUnitedStatesisregulatedbyapublic-sectorbody(theFinancialAccountingStandardsBoard,orFASB),butaprivateagency(theSecuritiesandExchangeCommission,orSEC)underpinstheauthorityofitsstandards.（）

答案:错Inventoryisstatedatthelowerofcostormarket;FIFOandaverageareacceptablemethodsofdeterminingcostinGermany.（）

答案:错FrenchandGermanindividualcompanyfinancialstatementsmustbepreparedusinglocalaccountingrequirementsbecausethesestatementsarethebasisfortaxesanddividends.（）

答案:对Frenchcompaniesmustreportthefollowing:a.Balancesheet;b.Incomestatement;c.Notestofinancialstatements;d.Directors’report;e.Auditor’sreport（）

答案:对WhenhistoricalcostisusedforinventoryintheNetherlands,itisgenerallystatedatthelowerofcostornetrealizablevalue,withcostdeterminedbyFIFOoraveragemethods.（）

答案:错Accountingmustrespondtosociety’sever-changinginformationalneedsandreflectthecultural,economic,legal,social,andpoliticalconditionswithinwhichitoperates.（）

答案:对FinancialandtaxaccountingarethesameinGermanyandSweden.Inothercountries,suchastheNetherlands,financialandtaxaccountingareseparate:Taxableprofitsareessentiallyfinancialaccountingprofitsadjustedfordifferenceswiththetaxlaws.（）