A.COGS is lower and net income is lower.
B.CFGO is lower and net income is higher.
C.COGS is higher and net income is lower.
第1题
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2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3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4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.
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