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PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as an intangible asset in its statement of financial position. PF estimates that the quota will have a useful life of 3 years.

What is the journal entry required to record the amortisation of the quota in the accounts for the year ended 30 April 20X9

A

Dr Expenses $15,000 Cr Accumulated amortisation $15,000

B

Dr Expenses $5,000 Cr Accumulated amortisation $5,000

C

Dr Intangible assets $5,000 Cr Accumulated amortisation $5,000

D

Dr Accumulated amortisation $15,000 Cr Intangible assets $15,000

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Chapter9Intangiblenon-currentassets

The amortisation charge is $15,000/3 years = $5,000 per annum. The double entry to recordthe amortisation is Dr expenses, Cr accumulated amortisation.

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

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