Untitled Quiz

Which of the following is not a classification of cash flows in the statement of cash flows?

• Operating activities

• Investing activities

• Financing activities

• Administrative activities

What is the core principle related to interests and dividends in reporting cash flows from operating activities?

• Indirect method

• Accrual basis profit

• Relevant and reliable information

• Direct method

Which of the following is an example of a change in accounting policy?

What is the discount rate used for determining post-employment benefit obligations?

• Expected rate of return on plan assets

• Employee turnover rate

• Market yields on corporate bonds

• Market yields on government bonds

Which of the following is a characteristic of property, plant, and equipment (PPE)?

How is the cost of an item of PPE initially measured?

• Fair value

• Historical cost

• Market value

• Replacement cost

What is the purpose of actuarial assumptions in accounting for employee benefits?

• To measure the obligation and expense

• To estimate the fair value

• To determine the discount rate

• To calculate the interest cost

Which of the following is a type of post-employment benefit plan?

• Defined benefit plan

• Defined contribution plan

• Short-term employee benefits

• Termination benefits

When does depreciation cease for an asset?

What is the difference between taxable temporary differences and deductible temporary differences?

• Deductible differences do not have future tax consequences

• Taxable differences result in deferred tax assets

• Deductible differences result in deferred tax liabilities

• Taxable differences have future tax consequences