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WorksheetsDay 2 FRA！
Total questions: 10
Worksheet time: 5mins
Which of the following calculation involves hypothetically repurchasing shares?
Convertible bond
Convertible preferred stock
Stock options
All of them
If an agent sells a house for 100 million on the website, it charges 10 million for transaction fees, how much can it recognize as revenue?
90 million
100 million
10 million
110 million
How should we correct an accounting error?
requires retrospective application and also disclose in footnotes
applied prospectively and also disclose in footnotes
restate the prior periods' financial statement and also disclose in footnotes
Just disclose in footnotes
Income from discontinued operation is reported _____________
Above the line and net of tax
Above the line in pretax number
Below the line in pretax number
Below the line and net of tax
The unrealized loss of Held-to-maturity (HTM) and Trading securities (TS) is seperately reported at ____________.
HTM: OCI
TS: I/S
HTM: N/A
TS: I/S
HTM: N/A
TS: OCI
HTM: N/A
TS: N/A
Which of the following is a profitability ratio?
Total asset turnover
Return on equity
Quick Ratio
Debt to capital
In periods of rising price, which of the following method will most likely result in the highest Inventory value
FIFO
LIFO
Weighted average
All will result the same
Does US GAAP allow Inventory impairment being reversed?
YES
NO
no, but IFRS also don't allow
Yes, and IFRS also allow
Which of the following is not needed when LIFO liquidation occurs?
Rising price
Purchase < sales volume
company is not profitable
company uses LIFO
What is an unidentifiable intangible asset?
Goodwill
Patents
Copyrights
Belief
