AICPA CPA Financial Accounting and Reporting 認定 FAR 試験問題:

1. In Baer Food Co.'s 1990 single-step income statement, the section titled "Revenues" consisted of the
following:

In the revenues section of its 1990 income statement, Baer Food should have reported total revenues of:

A) $216,300
B) $203,700
C) $201,900
D) $215,400

2. According to the FASB conceptual framework, the usefulness of providing information in financial
statements is subject to the constraint of:

A) Reliability.
B) Cost-benefit.
C) Consistency.
D) Representational faithfulness.

3. On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with
Quo's president and outside accountants, made changes in accounting policies, corrected several errors
dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List B represents the general accounting treatment
required for these transactions. These treatments are:
. Cumulative effect approach - Include the cumulative effect of the adjustment resulting from the
accounting change or error correction in the 1993 financial statements, and do not restate the 1992
financial statements.
. Retroactive or retrospective restatement approach - Restate the 1992 financial statements and adjust
1 992 beginning retained earnings if the error or change affects a period prior to 1992.
. Prospective approach - Report 1993 and future financial statements on the new basis but do not restate
1 992 financial statements.
Item to Be Answered
Quo sells extended service contracts on its products. Because related services are performed over
several years, in 1993 Quo changed from the cash method to the accrual method of recognizing income
from these service contracts.
List B (Select one)

A) Prospective approach.
B) Cumulative effect approach.
C) Retroactive or retrospective restatement approach.

4. In April 30, 20X4, Deer Corp. approved a plan to dispose of a component of its business. For the period
January 1 through April 30, 20X4, the component had revenues of $500,000 and expenses of $800,000.
The assets of the component were sold on October 15, 20X4 at a loss. In its income statement for the
year ended December 31, 20X4, how should Deer report the component's operations from January 1 to
April 30, 20X4?

A) $300,000 should be reported as an extraordinary loss.
B) $300,000 should be reported as part of the loss on disposal of a component and included as part of
continuing operations.
C) $300,000 should be reported as a loss from operations of a component and included in loss from
discontinued operations.
D) $500,000 and $800,000 should be included with revenues and expenses, respectively, as part of
continuing operations.

5. According to the FASB conceptual framework, predictive value is an ingredient of:

A) Option A
B) Option C
C) Option D
D) Option B

質問と回答：