Is the reversal of an inventory write-down permitted under U.S.GAAP (generally accepted accounting principles) and International Financial Reporting Standards (IFRS)?
A.No, under both
B.Yes, under both
C.Yes under IFRS but not under U.S.GAAP
第1题
A company, which prepares its financial statements in accordance with IFRS is in the process of developing a more efficient production process for one of its primary products.The most appropriate accounting treatment for those costs incurred in the project is to:
A.expense them as incurred.
B.capitalize costs directly related to the development.
C.expense costs until technical feasibility has been established.
第2题
In a period of rising prices, when compared to a company that uses weighted average cost for inventory, a company using FIFO will most likely report higher values for its:
A.return on sales.
B.debt-to-equity ratio.
C.inventory turnover.
第3题
A review of a company’s inventory records for the year indicates that the following costs were incurred:
Fixed production overhead: $500,000
Direct material and direct labor: 300,000
Storage costs incurred during production: 25,000
Abnormal waste costs: 30,000
If the company operated at full capacity during the year, the total capitalized inventory cost is closest to:
A.$800,000.
B.$825,000.
C.$855,000.
第4题
A company which prepares its financial statements using IFRS wrote down its inventory value by €20,000 in 2009.In 2010, prices increased and the same inventory was worth €30,000 more than its value at the end of 2009.Which of the following statements is most accurate? In 2010, the company’s cost of sales:
A.was unaffected.
B.decreased by €20,000.
C.decreased by €30,000.
为了保护您的账号安全,请在“上学吧”公众号进行验证,点击“官网服务”-“账号验证”后输入验证码“”完成验证,验证成功后方可继续查看答案!