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标题: Reading 33: Understanding the Balance Sheet LOS b习题精选 [打印本页]

作者: honeycfa 时间: 2010-4-17 22:00 标题: [2010]Session 8-Reading 33: Understanding the Balance Sheet LOS b习题精选

LOS b: Describe the various formats of balance sheet presentation.

Consider the following:

Statement #1 – The presentation formats of balance sheets vary from company to company.
Statement #2 – A classified balance sheet cannot follow an account format.

With respect to these statements:

A)
both are correct.

B)
only one is correct.

C)
both are incorrect.

The presentation formats of balance sheets vary by company. A classified balance sheet can be presented in a report format or an account format.

作者: honeycfa 时间: 2010-4-17 22:01

Which of the following statements about a classified balance sheet is least likely accurate? A classified balance sheet:

A)
groups accounts by subcategories.

B)
distinguishes between current and noncurrent assets.

C)
presents the net equity of each asset by subtracting its related liability.

A classified balance sheet groups assets and liabilities by subcategories. It distinguishes between current and noncurrent assets and current and noncurrent liabilities. The assets and related liabilities are reported separately, they are not netted.

作者: honeycfa 时间: 2010-4-17 22:01

Is the following statement an accurate description of the account format and report format of presenting a balance sheet?

“The account format presents the asset, liability, and equity accounts in a single column while a report format presents the assets, liabilities, and equity in multiple columns.”

Account format

Report format

A)

Yes

Yes

B)

No

No

C)

No

Yes

The account format follows the traditional ledger account, assets on the left hand side and liabilities and equity on the right hand side. With a report format, the assets, liabilities, and equity are presented in a single column.

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