A.Lower for both CFO and WC.
B.Lower for CFO and higher for WC.
C.Higher for CFO and lower for WC.
第1题
A company currently uses LIFO inventory valuation under U.S.GAAP.The company reported an increase in the LIFO reserve for the year.If the company used FIFO rather than LIFO:
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2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3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4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.
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