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0 Exakte Antworten 0 Text Antworten 63 Multiple Choice Antworten

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Fenster schliessen

IAS 38 enables us to classify intangible assets

True

False

Fenster schliessen

"An intangible asset is an identifiable monetary asset without physical substance"

True

False

Fenster schliessen

Identificability is one of the 3 main features in defining an intangible asset

True

False

Fenster schliessen

Which one is not an intangible asset?

A t-shirt sold by a company

A trademark

A franchise agreement

A customer list

Fenster schliessen

Which one is not an indicator of control? 

Present right to payment

Legal title

Physical possession of an asset

Future economic benefit

Fenster schliessen

If recognition criteria are not met, expenditure on asset is recognized as an expense 

True

False

Fenster schliessen

Under IAS 40, which model is impossible to use to measure investment property?

Fair value model

Revaluation model

Cost model

Fenster schliessen

Under IAS 40, investment property includes

Land held for a currently undetermined future use

Property held for use in the production of goods

Property held for administrative purposes

Property being constructed on behalf of third parties

Fenster schliessen

Under IAS 40, investment property does NOT include

Land held for long-term capital appreciation

Building leased out under an operating lease

Vacant building held to be leased out under an operating lease

Property leased to another entity under a finance lease

Fenster schliessen

If an entity supplies security services to lessees of their property, it can be treated as investment property 

True

False

Fenster schliessen

Investment property is initially measured at cost, NOT including transaction costs

True

False

Fenster schliessen

Under the cost model, investment property is remeasured at the end of each reporting period

True

False

Fenster schliessen

When commencement of owner-occupation takes place, it is possible to transfer from investment property

True

False

Fenster schliessen

Fair value model discloses

Significant adjustments to an outside valuation

The depreciation methods used 

The useful lives or the depreciation rates used 

Fenster schliessen

What is NOT discloded under BOTH fair value and cost models?

Rental income from investment property

Direct operating expenses arising from investment property

Restrictions on the realizability of investment property

The gross carrying amount and the accumulated depreciation

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