Quizzes-LMS-IAS-8 IAS-10

Kế toán (Trường Đại học Kinh tế Thành phố Hồ Chí Minh)

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Câu 1

Change in accounting policy does not include

Select one:

a.
Change from the practice (convention) of paying as Christmas bonus one month’s salary to staff before the
end of the year to the new practice of paying one-half month’s salary only.

b.
Change of method of valuation of inventory from FIFO to weighted-average.

c.
Change in useful life from 10 years to 7 years.

d.
Change of method of valuation of inventory from weighted-average to FIFO.

Câu 2

Specific principles bases conventions rules and practices applied in presenting

financial statements. This defines:
Select one:

a.
accounting errors

b.
Prospective application

c.
Accounting estimates

d.
Accounting policies
Câu 3:

Under IFRS, a voluntary change in accounting method may only be made by a

company if:
Select one:

a.
A new standard mandates the change in method.

b.
Management prefers the new method.

c.
The new method provides reliable and more relevant information.

d.
There is no prohibition of the method in the standards.
Câu 4

Adjustment of the carrying amount of an asset or a liability or the

consumption of an asset. This defines:
Select one:

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a.
A change in accounting estimates

b.
Misstatements

c.
Acconting policies

d.
A change in accounting policies
Câu 5

XYZ Inc. changes its method of valuation of inventories from weighted-

average method to first-in, first-out (FIFO) method. XYZ Inc. should account
for this change as
Select one:

a.
A change in estimate and account for it prospectively.

b.
A change in accounting policy and account for it prospectively.

c.
A change in accounting policy and account for it retrospectively.

d.
Account for it as a correction of an error and account for it retrospectively.
Câu 6

When an independent valuation expert advises an entity that the salvage

value of its plant and machinery had drastically changed and thus the change
is material, the entity should
Select one:

a.
Retrospectively change the depreciation charge based on the revised salvage value.

b.
Change the annual depreciation for the current year and future years.

c.
Ignore the effect of the change on annual depreciation, because changes in salvage values would normally
affect the future only since these are expected to be recovered in future.

d.
Change the depreciation charge and treat it as a correction of an error.
Câu 7

Applying a new policy to transactions other events and conditions as if that

policy had always been applied. This is:
Select one:

a.
Retrospective restatement

b.
Retrospective application

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c.
Change in accounting estimate

d.
Change in accounting policies
Câu 8

When it is difficult to distinguish between a change of estimate and a change

in accounting policy, then an entity should
Select one:

a.
Since this change is a mixture of two types of changes, it is best if it is ignored in the year of the change; the
entity should then wait for the following year to see how the change develops and then treat it accordingly.

b.
Apportion, on a reasonable basis, the relative amounts of change in estimate and the change in accounting
policy and treat each one accordingly.

c.
Treat the entire change as a change in accounting policy.

d.
Treat the entire change as a change in estimate with appropriate disclosure.
Câu 9

Correcting the recognition measurement and disclosure of amounts in

financial statements as if a prior-period error had never occurred. This is:
Select one:

a.
Retrospective restatement

b.
Change in accounting estimate

c.
Retrospective application

d.
Change in accounting policies
Câu 10

When a public shareholding company changes an accounting policy

voluntarily, it has to
Select one:

a.
Inform shareholders prior to taking the decision.

b.
Treat it prospectively and adjust the effect of the change in the current period and future periods.

c.
Treat the effect of the change as an extraordinary item.

d.
Account for it retrospectively.

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