Question 66 Which of the following statements about the accounting treatments (under IFRS and U.S. GAAP) are most accurate regarding inventory accounting and operating expenses, respectively? Inventory accounting Operating expenses A) IFRS does not permit LIFO U.S. GAAP does not distinguish between expenses and losses B) IFRS does not permit FIFO IFRS does not distinguish between expenses and losses C) IFRS does not permit LIFO IFRS does not distinguish between expenses and losses D) IFRS does not permit FIFO U.S. GAAP does not distinguish between expenses and losses Question 67 The following represents selected financial statement data from De Freitas Inc.: Dividends received from available-for-sale securities | $150 | Unrealized gain from available-for-sale securities | 70 | Unrealized loss from trading securities | 40 | Issuance of new common stock | 200 | Net income | 725 |
Based on the information above, comprehensive income for the year is:
A) $795.
B) $905. C) $945. D) $1,105. Question 68
Which of the following presentation formats of the balance sheet specifically involves standardizing the first-year values to 1.0 and presenting subsequent years’ amounts relative to 1.0?
A) Vertical common-size balance sheet.
B) Horizontal common-size balance sheet. C) Stacked column graph of balance sheet items. D) Line graph of balance sheet items. Question 69 Company X produces less expensive and average quality flat-screen televisions with basic features and technology. Company Y produces more expensive high-end flat-screen televisions with the latest features. Which of the following statements is most likely correct about the proportion of cost of goods sold (COGS) to sales and level of advertising costs of the two companies, respectively? Proportion of COGS to sales Advertising costs
A) Lower for Company Y Higher for Company X
B) Higher for Company Y Lower for Company X
C) Higher for Company Y Higher for Company X
D) Lower for Company Y Lower for Company X Question 70
The nominations committee is least likely to be responsible for:
A) recruiting board members.
B) reviewing the performance of existing board members. C) linking compensation to long-term performance/profitability. D) preparing an executive management succession plan.
[此贴子已经被作者于2008-11-8 17:58:01编辑过] | 
发表于 2008-5-26 12:38
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