职上网在线题库 > ACCA英国注册会计师试题 > F3 > Chaphter9-14 > According...

According to IAS 38 Intangible assets, which of the following statements concerning the accountingtreatment of research and development expenditure are true?

1 Development costs recognised as an asset must be amortised over a period not exceeding five years.

2 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as

incurred.

3 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether

there will be adequate finance available to complete the project.

4 Development projects must be reviewed at each reporting date, and expenditure on any project no longer qualifying for

capitalisation must be amortised through the statement of profit or loss and other comprehensive income over a period no exceeding five years.

A

1 and 4

B

2 and 4

C

2 and 3

D

1 and 3

扫码查看暗号，即可获得解锁答案！

在此输入暗号

点击获取答案

Chapter9Intangiblenon-currentassets

Development costs are amortised over the useful life of the project. This is not confined to fiveyears

多做几道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1 and 2

B

2 and 3

C

1 and 4

D

3 and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

最新试题

该科目易错题

该题目相似题

Which of the following documents should accompany a return of goods to a supplier?ADebit noteBRemittance adviceCPurchase invoiceDCredit note
An accountant has inserted all the relevant figures into the trade payables account, but has not yet balanced off the account.TRADE PAYABLES ACCOUNT $ $Cash at bank 100,750 Balance b/d 250,225Purchases 325,010Assuming there are no other entries to be made, other than to balance off the account, what is the closing balance on the trade payables account?A$474,485 DRB$575,235 DRC $474,485 CRD$575,235 CR
What are the correct ledger entries to record an acquisition of a non-current asset on credit? Debit CreditANon-current assets - cost ReceivablesBPayables Non-current assets - costCNon-current assets - cost PayablesDNon-current assets - cost Revaluation surplus
Alpha sells machine B for $50,000 cash on 30 April 20X4. Machine B cost $100,000 when it was purchased and has a carrying amount of $65,000 at the date of disposal. What are the journal entries to record the disposal of machine B?AAccumulated depreciation $35,000 Dr Loss on disposal (SPL) $15,000 Dr Cash $50,000 Cr Non-current assets - cost $100,000BDr Accumulated depreciation $65,000Dr Loss on disposal (SPL) $35,000Cr Non-current assets - cost $100,000CAccumulated depreciation $35,000 Dr Cash $50,000Cr Non-current assets $65,000 Cr Profit on disposal (SPL) $20,000DDr Non-current assets $65,000 Dr Accumulated depreciation $35,000 Cr Cash $50,000 Cr Profit on disposal (SPL) $50,000
What is the purpose of amortisation?ATo allocate the cost of an intangible non-current asset over its useful lifeBTo ensure that funds are available for the eventual purchase of a replacement non-current assetCTo reduce the cost of an intangible non-current asset in the statement of financial position to its estimated market value DTo account for the risk associated with intangible assets
Mobiles Co sells goods with a one year warranty under which customers are covered for any defect that becomes apparent within a year of purchase. In calendar year 20X4, Mobiles Co sold 100,000 units.The company expects warranty claims for 5% of units sold. Half of these claims will be for a major defect, with an average claim value of $50. The other half of these claims will be for a minor defect, with an average claim value of $10.What amount should Mobiles Co include as a provision in the statement of financial position for the year ended 31 December 20X4?A$125,000B$ 25,000 C$300,000D$150,000
Which of the following items could appear on the credit side of a receivables ledger control account?1 Cash received from customers2 Irrecoverable debts written off3 Increase in allowance for receivables4 Discounts allowed5 Sales6 Credits for goods returned by customers7 Cash refunds to customersA1, 2, 4 and 6B1,2, 4 and 7C3, 4, 5 and 6 D5 and 7
If a material event occurs after the reporting date but before the financial statements are authorised for issue outside the organisation, and this event does NOT require adjustment, what information should be disclosed in the financial statements?AThe nature of the event and an estimate of the financial effect (or a statement that such an estimate cannot be made)BThe nature of the event onlyCAn estimate of the financial effect (or a statement that such an estimate cannot be made) onlyDNo disclosure required
The following extract is taken from a draft version of company’s statement of cash flows, prepared by a trainee accountant. $000Net cash flow from operating activities Profit before tax Depreciation charges 484 Profit on sale of property, plant and equipment 327Increase in inventories 35 Decrease in trade and other receivables (74)Increase in trade payables (41)Cash generated from operations 29 760Four possible mistakes that may have been made by the trainee accountant are listed below.1 The profit on sale of property, plant and equipment should be subtracted, not added.2 The increase in inventories should be added, not subtracted.3 The decrease in trade and other receivables should be added, not subtracted.4 The increase in trade payables should be subtracted, not added.Which of the four mistakes did the trainee accountant make when preparing the draft statement?A1 and 2 onlyB1 and 3 onlyC2 and 4 onlyD3 and4 only
Mercedes Co has owned 100% of Benz Co since incorporation. At 31 March 20X9 extracts from their individual statements of financial position were as follows.Mercedes Co Benz Co $ $Share capital 100,000 50,000Retained earnings 450,000 120,000 550,000 170,000During the year ended 31 March 20X9, Benz Co had sold goods to Mercedes Co for $50,000. Mercedes Co still had these goods in inventory at the year end. Benz Co uses a 25% mark up on all goods.What were the consolidated retained earnings of Mercedes Group at 31 March 20X9?A$560,000B$580,000C$570,000D$557,500