CPA Management Accounting - MA 模擬練習
The accountant of Repati Co has discovered that the value of a prepayment has been understated.
How are the financial statements affected when the prepayment is corrected?
How are the financial statements affected when the prepayment is corrected?
正解: A
Coolbreeze Co manufactures refrigerators. The company isorganizedon a divisionalised basis and has two divisions (compressor and cabinet).
The compressor division transfers 65% of its output to the cabinet division for $85 per unit, and sells the rest of its output to external companies for $92 per unit.
The cabinet division sells the final product at an average selling price of $495 per unit. In the next month, it expected that the compressor division will produce 27,000 units. The variable cost of manufacturing compressors is $62 per unit.
Assuming that the divisions operate with total autonomy, which of the following options is the most likely reason for making internal transfers at a value which is less than the external selling price of the compressor division?
The compressor division transfers 65% of its output to the cabinet division for $85 per unit, and sells the rest of its output to external companies for $92 per unit.
The cabinet division sells the final product at an average selling price of $495 per unit. In the next month, it expected that the compressor division will produce 27,000 units. The variable cost of manufacturing compressors is $62 per unit.
Assuming that the divisions operate with total autonomy, which of the following options is the most likely reason for making internal transfers at a value which is less than the external selling price of the compressor division?
正解: D
Which ONE of the following choices is a reason for adopting adecentralizedrather than acentralizedorganizationalstructure?
正解: A
Items in the financial statement that incorporates uncertainty should be valued in accordance with prudence concept.
How does prudence affect the valuation of assets and liabilities when there is uncertainty?
How does prudence affect the valuation of assets and liabilities when there is uncertainty?
正解: A
Consider the following statements:
(i)Users must be able to compare an entity's results to its results in previous years and to the results of other entities. To ascertain this objective, accounting policies must be applied consistently both within the financial statements and from one period to the next. Users must be informed of any changes of accounting policy or accounting estimate and must be able to see the effects of such changes.
(ii)Financial statements must seek to represent faithfully the transactions which have taken place during the year.
What accounting concepts are reflected by the above two statements?
(i)Users must be able to compare an entity's results to its results in previous years and to the results of other entities. To ascertain this objective, accounting policies must be applied consistently both within the financial statements and from one period to the next. Users must be informed of any changes of accounting policy or accounting estimate and must be able to see the effects of such changes.
(ii)Financial statements must seek to represent faithfully the transactions which have taken place during the year.
What accounting concepts are reflected by the above two statements?
正解: D
Dalf Co calculates the margin of safety for each of its products separately. Data for one product are shown below:
Selling price per unit$85 Variable cost per unit$53 Budgeted sales volume80,000 units Margin of safety22%
What is the value of fixed costs attributed to the product?
Selling price per unit$85 Variable cost per unit$53 Budgeted sales volume80,000 units Margin of safety22%
What is the value of fixed costs attributed to the product?
正解: C
A recent variance report includes an adverse materials usage variance and afavorablelaborefficiency variance.
The following have been suggested as possible reasons for these variances:
i) Better quality materials than standard were purchased, requiring additional handling procedures
ii) Thelaborforce was paid a bonus based on production volume
Which of the above statements are possible explanations for these variances?
The following have been suggested as possible reasons for these variances:
i) Better quality materials than standard were purchased, requiring additional handling procedures
ii) Thelaborforce was paid a bonus based on production volume
Which of the above statements are possible explanations for these variances?
正解: C
Lukers Co is structured on a functional basis. Two of the departments are purchase and production. The directors wish to improve product quality, and are considering the introduction of an incentive scheme.
Which of the following performance measures would be an appropriate basis for the incentive scheme?
Which of the following performance measures would be an appropriate basis for the incentive scheme?
正解: C