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Egzaminy > International pytania > Flashcards

International pytania Flashcards

1
Q

All changes in equity during a period except those investments by owners and distributions to owners are called …

A

a. Comprehensive income

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2
Q

a. Comprehensive income (znaczenie)

A

całkowite dochody

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3
Q

Direct labor incurred is presented if the expenses are classified by

A

nature

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4
Q

Which of these is not a limitation of the income statement
a. Companies omit (pomijać) items that cannot be measured reliably
b. Income numbers are affected by the accounting methods employed
c. Income measurement involves (wymagać) judgement
d. All of the above are such limitations

A

All of the above are such limitations

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5
Q

Which of these rations measures the dollars earned by each ordinary share:
a. Dividend payout
b. Price / Earnings
c. Earning per share
d. Return on equity

A

c. Earning per share

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6
Q

Losses
a. Always arise from ordinary activities
b. Are not recognized in the accounting records
c. May arise from ordinary activities
d. May or may not arise from ordinary activities

A

May arise from ordinary activities

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7
Q

Increases in economic benefits during the accounting period in the form of inflows or enhancements (ulepszeń) of assets – this is a part of the definition of

A

revenues

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8
Q

Unrealized gains and losses on non-trading equity securities affect

A

a. Other comprehensive income

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9
Q

Gross profit
a. Is not computed (obliczać) by deducting cost of goods sold from net sales
b. Includes unusual or incidental revenues
c. Does not provide a useful number for evaluating performance and predicting future earnings
d. None of the above answers is correct

A

None of the above answers is correct

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10
Q

Other income and expense

A

Should be reported as part of income from operations

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11
Q

A component of an entity that either has been disposed (zbyta) of, or is classified as held-for-sale, and:
a. Represents a minor line of business or geographical area of operations
b. Is part of a single, co-coordinated plan to dispose of a minor line of business or geographical area of operations
c. Is a subsidiary acquired exclusively with a view to liquidate
d. None of the above answers is correct

A

None of the above answers is correct

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12
Q

Treasury shares (akcje skarbowe) are

A

The amount of ordinary shares repurchased

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13
Q

The company’s undistributed earnings are

A

retained earnings

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14
Q

Collections received in advance for the delivery of goods or performance of services are

A

revenues

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15
Q

Financing activities in the statement of cash flow are correctly described by which of the following sentences?
a. Transactions that enter into the determination of net income
b. None of the sentences describes financing activities
c. Transactions involving assets and equity items
d. Making and collecting loans and acquiring and disposing of investments and property, plant, and equipment

A

b. None of the sentences describes financing activities

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16
Q

Which of the financial statement comprises a summary of significant accounting policies and other explanatory information

A

b. Notes

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17
Q

Tangible long-lived assets used in the regular operations of the business are
a. Known as property, plant, and equipment
b. Never amortized
c. Almost always depreciated
d. All of the above are correct answers

A

d. All of the above are correct answers

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18
Q

Payment of cash, that is recorded as an asset because service or benefit will be received in the future are

A

a. Prepaid expenses

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19
Q

Current assets are defined as

A

a. Cash and other assets a company expect to convert into cash, sell, or consume either in one year or in the operating cycle, whichever is longer

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20
Q

Statement of financial position does not help to assess the company’s

A

free cash flows

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21
Q

Which of the following is not a characteristics of receivables’ sale….

Seller records loss on sale

Transfer is sometimes referred to as a failed sale

Transfer is outright sale of receivable

Purchaser assumes risk of collection and absorbs any credit losses

A

transfer is sometimes referred to as a failed sale

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22
Q

Choose a false statement

Bank overdrafts (kredyty w rachunku bieżącym) are generally reported as a current liability

Available funds on deposit at the bank are cash equivalents

Companies segregate restricted cash from “regular” cash

Cash equivalents are so near their maturity that they present insignificant risk of changes in value

A

Available funds on deposit at the bank are cash equivalents

23
Q

Credit loses are recorded as

A

Debits to bad debt expense

24
Q

If a note receivable is a zero-interest-bearing note, then

A

No interest is paid

25
Q

In which of the methods of accounting for uncollectible accounts

A

Allowance method

26
Q

Talking about notes receivable, who is the maker

A

The debtor

27
Q

Oral promises of the purchaser to pay for goods and services sold are….

A

accounts receivable

28
Q

Majority of notes receivable originates from

A

Lending transactions

29
Q

A company abandons the historical cost principle when the future utility of the asset drops below its

A

Original cost

30
Q

Every time a sale is made, the decrease of inventory is recording …

A

Perpetual inventory system

31
Q

Biological assets are measured on initial recognition and at the

A

At fair value less costs to sell (NRV)

32
Q

Which ones are not inventories

Office supplies

Merchandise

Finished goods

Raw materials

A

Office supplies

33
Q

If a supplier ships goods to the buyer f.o.b. shipping point,

A

Are a buyer’s inventory

34
Q

Which of the following methods are not allowed for fina……..

FiFo

LiFo

Average cost method

All of the above are allowed

A

lifo

35
Q

The harvested product of a biological asset, such as wool fr…. Picked fruit from a fruit tree, or cotton from plant…..

A

Agricultural produce

36
Q

Which of them could be inventories of a manufacotring compa……

Equipment-in-use

Work-in-progress

Job-for-work

A

Work-in-progress

37
Q

Companies may value property, plant, and equipment in

A

The cost method or the revaluation method

38
Q

Which of the following is and example of involuntary conversion….

Fire

Flood

Theft

All of the above

A

All of the above

39
Q

The approach used by IFRS to interest costs during construction is …

A

Capitalize actual costs incurred during construction

40
Q

If a plant asset is disposed of, then a gain or loss on disposal is calculated as the difference between

A

Selling price and net book value

41
Q

A recoverable amount is

A

The higher of fair value less costs to sell and value-in-use

42
Q

Economic factors causing the retirement of a fixed assets include

A

Obsolescence

43
Q

Computation of the depletion base involves

A

Exploratory and evaluation costs

44
Q

Depreciation is the accounting process of allocating the cost of tangible

A

A systematic and rational manner

45
Q

The smallest group of assets that can be identified that generate cash flows in… cash flows from other assets are called

A

Cash generating units

46
Q

Which of the following methods of calculating depreciation does not deduct th….. computing the depreciation base

A

Declining-balance method

47
Q

Depletion

A

Is a process of allocating the cost of mineral resources

48
Q

A cost of a fixed asset less its residual value is called

A

Depreciable base

49
Q

Normally, companies compute depletion on a

A

Units-of-production (activity) method

50
Q

What does happen to a long-lived tangible asset when a com(…) asset’s carrying amount either through using it or by selling (…)

A

It’s impaired

51
Q

Which of the following is an example of customer-related intangible

A

Production backlogs (zaległości produkcyjne)

52
Q

Cost of intangible assets

A

Includes all acquisition cost plus expenditures to use the intangible asset

53
Q

Research costs

A

Cannot be capitalized

54
Q

Short term obligations expected to be refinanced should be excluded from current liabilities if two conditions are met. One of them is that a business

None of the other answers is correct

Must be liquid and solvent

Must intend to refinance the obligation on a short term-basis

Must have a conditional right to defer settlement of the liability for at least 12 months after the reporting date

A

None of the other answers is correct

Egzaminy (19 decks)

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