CFA Level 1 －模考试题(1)(PM) Q56-60

normal, 考试题, style, class

Question 56

Samilski Inc. has a balance of $75,000 in its accrued liabilities account and $115,000 in its unearned revenue account at year-end on December 31, 20X7. The unearned revenue relates to goods not yet delivered as at year-end; $20,000 of those goods were delivered the following month. As well, Samilski recognized $5,000 of loan interest costs for January 20X8 that are not payable until February 1, 20X8. Based only this information, which of the following represents the effects of the two transactions on Samilski’s accrued liabilities and unearned revenue balances on January 31, 20X8, respectively?

Accrued liabilities balance Unearned revenue balance

A) Increases Decreases

B) Increases Increases

C) Remains the same Decreases

D) Remains the same Increases

Question 57

During periods of rising prices:

A) LIFO COGS > Weighted Average COGS > FIFO COGS.

B) LIFO COGS < Weighted Average COGS < FIFO COGS.

C) LIFO COGS = Weighted Average COGS = FIFO COGS.

D) LIFO COGS > Weighted Average COGS < FIFO COGS.

Question 58

Which of the following items is least likely to contain details about various accruals, adjustments, balances, and management assumptions?

A) Supplementary schedules.

B) Financial statement footnotes.

C) Income statement.

D) Discussion and analysis by management.

Question 59

Which of the following statements best describes the level of flexibility afforded in the cash flow statement classification of interest paid and dividends received (from investments) under U.S. GAAP as compared to IFRS?

Interest paid Dividends received

A) More flexible than IFRS Less flexible than IFRS

B) Less flexible than IFRS More flexible than IFRS

C) Less flexible than IFRS Less flexible than IFRS

D) More flexible than IFRS More flexible than IFRS

Question 60

Compared to using the first in, first out (FIFO) inventory method, using last in, first out (LIFO) in periods of rising prices and stable or increasing inventory quantities will result in taxes and operating cash flows (CFO) that are:

Taxes CFO

A) lower higher

B) higher higher

C) lower lower

D) higher lower

[此贴子已经被作者于2008-11-8 9:50:22编辑过]