題目

The inventory value for the financial statements of Q for the year ended 31 December 20X4 was based on an inventory count on 4 January 20X5,

which gave a total inventory value of $836,200.Between 31 December and 4 January 20X5, the following transactions took

place:

???????????????????????????????????????????????????? ?????????????????????? $

Purchases of goods???????????????????????? ?????????????? 8,600

Sales of goods (profit margin 30% on sales) 14,000

Goods returned by Q to supplierWhat adjusted figure should be included in the financial statements for inventories at 31

December20X4?

A

$838,100

B

?$853,900

C

$818,500?

D

$ 834,300

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Chapter7Inventory

???????????????????????????????????????????????????????????? ?$????????

Inventory count valueLess：???????????? 836,200

purchases Add：?????????????????????????????? (8,600)

sales (14,000 x 70/100) Add：?????????? 9,800

goods returned Inventory figur????????????700??????????????????????????????????????????????????????

??????????????????????????????????????????????????????? ???838,100???

多做幾道

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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