最新的AICPA CPA Financial Accounting and Reporting - FAR免費考試真題
FASB's conceptual framework explains both financial and physical capital maintenance concepts. Which
capital maintenance concept is applied to currently reported net income, and which is applied to
comprehensive income?
capital maintenance concept is applied to currently reported net income, and which is applied to
comprehensive income?
正確答案: C
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According to the FASB conceptual framework, which of the following is an essential characteristic of an
asset?
asset?
正確答案: B
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The effect of a material transaction that is infrequent in occurrence but not unusual in nature should be
presented separately as a component of income from continuing operations when the transaction results
in a:
presented separately as a component of income from continuing operations when the transaction results
in a:
正確答案: D
說明：（僅 Fast2test 成員可見）
Belle Co. determined after four years that the estimated useful life of its labeling machine should be 10
years rather than 12 years. The machine originally cost $46,000 and had an estimated salvage value of
$ 1,000. Belle uses straight-line depreciation. What amount should Belle report as depreciation expense
for the current year?
years rather than 12 years. The machine originally cost $46,000 and had an estimated salvage value of
$ 1,000. Belle uses straight-line depreciation. What amount should Belle report as depreciation expense
for the current year?
正確答案: B
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How should the effect of a change in accounting principle that is inseparable from the effect of a change in
accounting estimate be reported?
accounting estimate be reported?
正確答案: D
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According to the FASB conceptual framework, comprehensive income includes which of the following?
正確答案: B
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A planned volume variance in the first quarter, which is expected to be absorbed by the end of the fiscal
period, ordinarily should be deferred at the end of the first quarter if it is:
period, ordinarily should be deferred at the end of the first quarter if it is:
正確答案: A
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The following question is based on the following:
Vane Co.'s trial balance of income statement accounts for the year ended December 31, 2002, included
the following: Vane's income tax rate is 30%.
In Vane's 2002 multiple-step income statement, what amount should Vane report as income from
continuing operations?
Vane Co.'s trial balance of income statement accounts for the year ended December 31, 2002, included
the following: Vane's income tax rate is 30%.
In Vane's 2002 multiple-step income statement, what amount should Vane report as income from
continuing operations?
正確答案: D
說明：（僅 Fast2test 成員可見）
During the first quarter of the calendar year, Worth Co. had income before taxes of $100,000, and its
effective income tax rate was 15%. Worth's effective annual income tax rate for the previous year was
3 0%. Worth expects that its effective annual income tax rate for the current year will be 25%. The
statutory tax rate for the current year is 35%. In its first quarter interim income statement, what amount of
income tax expense should Worth report?
effective income tax rate was 15%. Worth's effective annual income tax rate for the previous year was
3 0%. Worth expects that its effective annual income tax rate for the current year will be 25%. The
statutory tax rate for the current year is 35%. In its first quarter interim income statement, what amount of
income tax expense should Worth report?
正確答案: A
說明：（僅 Fast2test 成員可見）
On January 2, 20X5, to better reflect the variable use of its only machine, Holly, Inc. elected to change its
method of depreciation from the straight-line method to the units of production method. The original cost
of the machine on January 2, 20X3, was $50,000, and its estimated life was 10 years. Holly estimates that
the machine's total life is 50,000 machine hours. Machine hours usage was 8,500 during 20X4 and 3,500
during 20X3.
Holly's income tax rate is 30%. Holly should report the accounting change in its 20X5 financial statements
as a(n):
method of depreciation from the straight-line method to the units of production method. The original cost
of the machine on January 2, 20X3, was $50,000, and its estimated life was 10 years. Holly estimates that
the machine's total life is 50,000 machine hours. Machine hours usage was 8,500 during 20X4 and 3,500
during 20X3.
Holly's income tax rate is 30%. Holly should report the accounting change in its 20X5 financial statements
as a(n):
正確答案: B
說明：（僅 Fast2test 成員可見）
In which of the following situations should a company report a prior-period adjustment?
正確答案: A
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Conn Co. reported a retained earnings balance of $400,000 at December 31, 1991. In August 1992, Conn
determined that insurance premiums of $60,000 for the three-year period beginning January 1, 1991, had
been paid and fully expensed in 1991. Conn has a 30% income tax rate. What amount should Conn report
as adjusted beginning retained earnings in its 1992 statement of retained earnings?
determined that insurance premiums of $60,000 for the three-year period beginning January 1, 1991, had
been paid and fully expensed in 1991. Conn has a 30% income tax rate. What amount should Conn report
as adjusted beginning retained earnings in its 1992 statement of retained earnings?
正確答案: B
說明：（僅 Fast2test 成員可見）
At December 31, 1998, Off-Line Co. changed its method of accounting for demo costs from writing off the
costs over two years to expensing the costs immediately. Off-Line made the change in recognition of an
increasing number of demos placed with customers that did not result in sales. Off-Line had deferred
demo costs of $500,000 at December 31, 1997, $300,000 of which were to be written off in 1998 and the
remainder in 1999. Off-Line's income tax rate is 30%. In its 1998 financial statements, what amount
should Off-Line report as cumulative effect of change in accounting principle?
costs over two years to expensing the costs immediately. Off-Line made the change in recognition of an
increasing number of demos placed with customers that did not result in sales. Off-Line had deferred
demo costs of $500,000 at December 31, 1997, $300,000 of which were to be written off in 1998 and the
remainder in 1999. Off-Line's income tax rate is 30%. In its 1998 financial statements, what amount
should Off-Line report as cumulative effect of change in accounting principle?
正確答案: D
說明：（僅 Fast2test 成員可見）
FASB Interpretations of Statements of Financial Accounting Standards have the same authority as the
FASB:
FASB:
正確答案: B
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Adam Corp. had the following infrequent transactions during 1989:
. A $190,000 gain on reacquisition and retirement of bonds. This material event is also considered
unusual for Adam Corp.
. A $260,000 gain on the disposal of a component of a business. Adam continues similar operations at
another location.
. A $90,000 loss on the abandonment of equipment.
In its 1989 income statement, what amount should Adam report as total infrequent net gains that are not
considered extraordinary?
. A $190,000 gain on reacquisition and retirement of bonds. This material event is also considered
unusual for Adam Corp.
. A $260,000 gain on the disposal of a component of a business. Adam continues similar operations at
another location.
. A $90,000 loss on the abandonment of equipment.
In its 1989 income statement, what amount should Adam report as total infrequent net gains that are not
considered extraordinary?
正確答案: C
說明：（僅 Fast2test 成員可見）