答案和详解如下： Q11. Using the provisions of SFAS 115, if the securities are classified as trading securities the balance sheet value for the portfolio at year-end 2005 is: A) $12,500, and record an unrealized loss of $1,500. B) $12,500, and record no gains or losses. C) $14,000, and record no gains or losses. Correct answer is A) The original portfolio cost was: $8,000 + $2,000 + $4,000 = $14,000 In 2005: $7,500 + $3,000 + $2,000 = $12,500 Thus we write the portfolio down by $1,500 and take an unrealized loss. Q12. Using the provisions of SFAS 115, if the securities are classified as trading securities the balance sheet value for the portfolio at year-end 2006 is: A) $16,500, and record an unrealized gain of $2,500. B) $14,000, and record an unrealized gain of $2,500. C) $16,500, and record an unrealized gain of $4,000. Correct answer is C) The original portfolio cost was: $8,000 + $2,000 + $4,000 = $14,000 In 2005 the value of the portfolio was: $7,500 + $3,000 + $2,000 = $12,500 In 2006 the value of the portfolio was: $8,500 + $3,500 + $4,500 = $16,500 We write the balance sheet value up to current value and recognize an unrealized gain of $4,000. Q13. Which of the following securities will most likely be characterized as an available-for-sale security? A) Debt securities that a company has a positive intent and ability to hold to maturity. B) Equity securities representing 30% ownership in another firm. C) Debt or equity securities that are carried on the balance sheet at fair market value and may be sold for liquidity purposes. Correct answer is C) Debt or equity securities that are carried on the balance sheet at fair market value and may be sold for liquidity purposes are likely to be considered as available-for-sale. Q14. Trading securities are defined as: A) debt and equity securities that are very liquid and easy to sell. B) equity securities representing 20% to 50% ownership in a public firm. C) debt and equity securities acquired with the intent of selling them in the near future. Correct answer is C) Debt and equity securities acquired with the intent of selling them in the near future are likely to be considered trading securities. Q15. Under U.S. GAAP rules, where an investor owns 41% of the voting shares of an investee and is able to control the investee, which of the following methods of accounting is most appropriate to use? A) Equity method. B) Consolidation method. C) Proportionate consolidation method. Correct answer is B) It is possible to control will less than a 50% ownership interest. In this case, the investment is still considered controlling and the consolidation method would be most appropriate. | 
发表于 2009-1-5 11:50
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