[CFA level 1模拟真题]Version 4 Questions－Q27 otherwise, including, restaurant, principles, face

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Q27. Assume U.S.GAAP (generally accepted principles) applies unless otherwise noted.

Northern Cooking is a restaurant that operates in a rented space in a downtown shopping complex While getting the restaurant ready to open, the company incurred renovation costs including the installation of lighting fixtures, flooring, and the alteration of the interior decor of the space. These costs would be classified on Northern Cooking’s financial statements as:

A. leasehold improvements

B. buildings and equipment.

C. Assets under operating leases

D. Expenses in the year incurred.

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答案和详解如下：

Q27.  A   07 Modular Level I, Vol. 1, pp 363  Study Sessions 9-41-a,b

Improvements to leased property that becomes the property of the lessor at the end of the lease are classified as leasehold improvements.

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ding

LEEFEI571

xuan d

水模样

d

liquidn

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fantasy_ln

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Linda_SCB

d

jungle1009

see

ondesert

a