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bảng tínhEBA2013 - LU1 (PPE)
Total câu hỏi: 11
Worksheet time: 6mins
The following statement refers to Paragraph 6 of MFRS 116, which states that PPE is tangible assets, EXCEPT
PPE held for the use of production or supply of goods or services
PPE use for rental
PPE use for administrative purposes
PPE only use for one period
MFRS 16 listed the following assets under the standard of PPE, EXCEPT
Biological assets
Agriculture assets
Natural gas
Grass
Which of the following statement is TRUE about the usefulness of qualitative characteristic of PPE?
The information is relevant if it enables users to make decisions
The information is relevant if it enables preparers to make decisions
Information is material if its omission not misleads users to make decisions
Information not presents a depiction of that it purports to indicate to users
MFRS 116 outlines the criteria that need to be present to recognise PPE: (i) the entity expects to obtain an economic benefit; (ii) the cost can be reliably measured.
True
False
A self-constructed asset is built by an entity for its own use and recognised based on cost and related expenditure (e.g., a material used, labour and contractor costs).
True
False
In capitalising on interest, the entity must ensure that it does not exceed the actual interest.
True
False
MFRS 116 allows certain methods for treating the revaluation model for PPE. Which of the following statements is correct?
Cost basis
Proportion basis
Revalue basis
Devalue basis
Under Revaluation Model, when a PPE is revalued downwards, the loss shall be recorded as a loss in other comprehensive income, and it reduces accumulated equity in the revaluation surplus.
True
False
The asset is derecognized if it is disposed of or economic benefits cease to flow from the asset.
True
False
When a PPE is derecognised, the revaluation surplus for the PPE is transferred _________?
Returned Earnings
Current Assets
Expenses
Cash and Bank
There are issues arrising from accounting for PPE, EXCEPT
Initial measurement
Subsequent measurement
Income focus
Standard practice
