WorksheetsST AKM 1 KP B
Total questions: 20
Worksheet time: 20mins
The primary users of general purpose financial reports are:
Investors and Lenders
Management and Government
Employees and Customers
Management and Creditors
Lulu Co. report Rp 89 million for sales when it only had Rp 50 million of actual sales. Which is the qualities of useful information that Lulu Co. have violated?
Comparability
Faithful Representation
Relevance
Consistency
Company B rent the building of Company A from April 1 to July 1. Company A receive the payment for rent on March 31, When will company A recognize its full revenue?
March 31
July 1
April 1
No answer is correct
Company B rent the building of Company A from April 1 to July 1. Company A receive the payment for rent on March 31, What will company A record on March 31? Which assumption does this relate to?
Unearned revenue (db) Rent Revenue (cr); Revenue Recognition
Cash (db) Rent revenue (cr); Revenue Recognition
Rent expense(db) Cash (cr); Expense recognition
Cash (db) Unearned revenue (cr); Revenue recognition
On January 1 a company have the supplies for $80, at the end of the period the supplies on hand amounted to $30. If the company follows the expense recognition assumption, what should be expensed by the company? Why?
$80, the supplies should be expensed when the company first bought the supplies on January 1
$50, the company should expense the supplies at the end of the period according to the usage of supplies company
$30, the company should expense the supplies at the end of the period
The company should not make any journal entry
On March 1, insurance for a period of 1 year was paid (recorded as an expense) amounting to Rp 18,000,000, the Adjusting Entry on December 31 was...
Insurance Expense (Db); Prepaid Insurance (Cr) Rp 15.000.000
Prepaid Insurance (Db); Insurance Expense (Cr) Rp 15.000.000
Insurance Expense (Db); Prepaid Insurance (Cr) Rp 18.000.000
Prepaid Insurance (Db); Insurance Expense (Cr) Rp 18.000.000
A conceptual framework for financial reporting is..
A set of items which make up an entity's financial statements
A set of regulations which govern financial reporting
A set of principles which underpin financial reporting
A set of financial reporting standards
Jika perusahaan memilih untuk tidak menyajikan informasi yang tidak relevan dalam CALK, maka asumsi, prinsip, atau constraint apa yang terkait dengan kebijakan perusahaan tersebut?
economic entity
going concern
cost
full disclosure
The Conceptual Framework describes prudence as:
A bias towards understating assets or income and towards overstating liabilities or expenses
A preference towards the earlier recognition of expenses and liabilities than of income and assets
A form of accounting conservatism
The exercise of caution when making judgements under conditions of uncertainty
Principles of Financial Reporting, is on ... level of Conceptual Framework
1
2
3
None of the above
Ketika 2 pihak yang independen mengukur menggunakan metode yang sama dan menghasilkan hasil yang serupa artinya informasi tersebut sudah memenuhi sifat
Comparability
Neutrality
Understandability
Verifiability
Each company have separate financial report is...
Independency
Economic Entity
Periodicity
Going concern
According to the principles of accounting, when does the company recognize its expense?
when the company pays for the expense
when the company issued bond payable
when the company order goods/services
when the company have received the benefit from the transaction
The enhancing qualitative characteristics of financial information include:
Comparability and understandability
Free from Error and Materiality
Relevance and Faithful Representation
Periodicity and Neutrality
Expense recognition follows revenue recognition
TRUE
FALSE
When a company use the same accounting principle from year to year, it is the application of
Periodicity
Full Disclosure
Consistency
Materiality
Two fundamental qualities of useful information are___ and ___
Relevance and Faithful representation
Verifiability and timeliness
Comparability and Flexibility
Understandability and Consistency
Which is not the characteristic of faithful representation of accounting information?
Completeness
Neutrality
Free from error
Predictive Value
IFRS stands for…
Interim Finance & reporting standards
International Financial Reporting Standards
Internal Financial Reporting Standards
International Financial Recognition Standards
Valuing the assets at fair value is inconsistent with the
Full disclosure principle
Economic entity assumption
Periodicity principle
Historical cost principle
