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0 Exakte Antworten 0 Text Antworten 63 Multiple Choice Antworten
Fenster schliessen

Constraction contracts include the destruction of an asset

True

False

Fenster schliessen

Under IAS 11, two or more contracts should be accounted for separately, even if they were negotiated together

True

False

Fenster schliessen

What isn't obligatory to determine if the construction of a series of assets should be treated as separate contracts?

Separate proposals were submitted 

The customer could use different contractors for each asset 

Contracts will run concurrently or in a single sequence 

Costs and revenues can be separated for each asset 

Fenster schliessen

A fixed price contract is a contract in which the contractor agrees to a

Fixed contract price, but must bear the escalation costs

Fixed contract price which might be subject to escalation costs 

Fixed rate per unit of output which is not subject to escalation costs 

Fixed rate per unit of output and bears escalation costs

Fenster schliessen

Which of the following costs cannot be allocated to a construction contract cost?

Material used in construction 

Rectification work 

Design work

Selling costs

Fenster schliessen

Architects fees for the construction of a building should not be accounted for under IAS 11

True

False

Fenster schliessen

A contract in which the contractor agrees to a pre-determined contract price

Fixed price contract

Pre-defined contract 

Cost plus contract 

Negotiated contract 

Fenster schliessen

A contract in which the contractor is reimbursed for pre-defined costs, plus a percentage

Fixed price contract

Pre-defined contract 

Cost plus contract 

Negotiated contract 

Fenster schliessen

Contract revenue is measured at ____ of received or receivable revenue

Fair value

Present value

Cost

Amortized value

Fenster schliessen

IAS19 is an accounting rule concerning ________ under the IFRS rules set by the International Accounting Standards Board

Life insurance

Employee Benefit

Full-time

Worker's compensation

Fenster schliessen

IAS 19 categories employee benefits into 4 categories; which one is not one of them?

Pre-employment benefits

Post-employment benefits

Terminatino benefits

Short-term employee benefits

Fenster schliessen

Matching principle means to recognize an expense in the period when matching revenue is recognized.

True

False

Fenster schliessen

Which one is not a short-term employee benefit?

Wages

Profit shares and bonuses

Extended disability benefits

Paid sick leave

Fenster schliessen

Can be used as an alternative to make payments, e.g. to employees

Promotions

Warehouse stock

Bigger office space

Profit-sharing and bonus plans

Fenster schliessen

Holiday Entitlement is usually a good example for _________ employee benefits.

Accumulative

Non accumulative

Fenster schliessen

What is the usual amount (or closest) for profit-sharing that firms give to employees?

9-13%

20-25%

2-4%

Over 9000

Fenster schliessen

Which one is NOT a post-employment benefit?

Retirement benefits

Post-employment life insurance

Payment for psychological damages

Pensions

Fenster schliessen

Termination benefits are provided in exchange for the service of the employee

True

False

Fenster schliessen

Objective of IAS 28 is to prescribe the accounting for investments in

Associations

Subsidiaries

Associates

Properties

Fenster schliessen

IAS 28 applies to investments in associates held by

Venture capital organizations

Unit trusts

Mutual funds

None of those answers is correct

Fenster schliessen

Significant influence is the power to..

make investees financial decicions

participate in operating policy decicions

participate in general meeting

joint control operating policy decicions

Fenster schliessen

Significant influence is presumed to exist when owning ______ of voting power of an investee.

10%

more than 25%

at least 20%

15%

Fenster schliessen

Evidence of significant influence may be interchange of managerial personnel.

True

False

Fenster schliessen

Method of accounting for investments in associates and joint ventures is

value method

standard method

cash method

equity method

Fenster schliessen

Investors profit or loss doesn't include share of investee's profit or loss. 

True

False

Fenster schliessen

Investor is exempted from using equity method if…

parent is exempt for making consolidated financial statements under IFRS 10

securities are not publicly traded

the ultimate parent publishes financial statements in accordance to IFRS

not in the process of issuing securities

Fenster schliessen

Which one of the following is incorrect

Associates can use different accounting policies than investor

Profits from upstream transcations are eliminated

Investment is accounted by equity method from day when it becames associate

Unrealized losses are eliminated

Fenster schliessen

Use of the equity method should cease from the date that significant influence  ceases

True

False

Fenster schliessen

Nowadays, IAS 32 is about the Presentation and Disclosure of Financial Instruments

True

False

Fenster schliessen

Which of the following is NOT a financial asset?

Cash

Shares

Land

Bond