MEBIK International Financial Reporting Standards
Replenishment date: 05.04.2018
Content: IFRS obligatory test MEBIK Solution.docx (23.71 КБ)
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Description
Test
1. The main meaning of IFRS in
A. Ensuring transparency and comparability of participants' financial statements
world markets
B. Creating a priority direction for the development of the world economy
B. Improving national accounting practices and methods D. Simplification of accounting rules
2. All of the following apply to the objectives for which the IFRS Committee has a primary role, with the exception of A. Developing high quality uniform financial reporting standards
B. Carrying out work on convergence of IFRS with national accounting standards
B. Carrying out work on replacing national standards with international standards D. Ensuring the dissemination and control over the application of IFRS
3. The IASB does not commit itself
A. Support the objectives of the IASB
B. Support the work of the IASB
B. Rebuild national standards
D. Publish each International Standard
4. International standards do not apply A. To the balance sheet B. To the income statement
B. To the report on changes in financial position D. To management reporting
5. International Financial Reporting Standards A. They are mandatory B. They are advisory in nature C. May be partially applied
D. Are mandatory for those companies that have decided to prepare financial statements in accordance with IFRS
6. Differences in accounting and reporting of different countries are due to
A. Links between financial reporting and taxation B. Legal systems
B. Differences in the capabilities of professional organizations D. Sources of financing the economy
7. The International Accounting Standards Committee is located A. Brussels B. Washington C. London D. Moscow
8. The International Accounting Standards Committee was established in 1973
A. Agreement between governments from 11 countries B. Decision of the International Congress of Accountants
B. Agreement between professional accountancy organizations from 9 countries D. United Nations decision
9. In what accounting system the interests of tax authorities are taken out of the financial reporting A. Anglo-American B. Continental B. Latin American
D. There are no correct answers
10. IFRS is not used as national accounting standards A. Kuwait B. Russia
B. Netherlands D. Germany
11. Development of a system of standards applicable to any country and in any situation
- the essence of the idea
A. Harmonization B. Standardization C. Unification
D. There are no correct answers
12. The leading organization for the unification of accounting is
A. International Accounting Standards Board
B. Securities and Exchange Commission
B. American Accounting Organization
D. International Accounting Standards Committee
13. The purpose of the financial statements is to present all of the following except A. Financial position
B. Changes in financial position C. Performance D. Management efficiency
14. Results of transactions and other events are recognized on an accrual basis.
A. At the time of receipt of money
B. After receiving the money
B. At the time of transactions
D. Does not depend on the movement of money
15. Going concern means that
A. The business will make continuous profit
B. The company will operate in the foreseeable future C. The company is operating normally
D. You can only deal with enterprises that are not threatened with bankruptcy
16. Qualitative characteristics include all of the following, with the exception of A. Comprehensibility B. Relevance
B. Reliability
G. Simplicity
17. Compliance with the principle of prudence requires that not be overstated A. Assets B. Expenses
B. Liabilities D. Capital
18. Accounting policies that are inconsistent with IFRS are explained by
A. Disclosures about accounting policies adopted
B. Clarifications
B. Submission of an Explanatory Note
D. None of the above
1. The main meaning of IFRS in
A. Ensuring transparency and comparability of participants' financial statements
world markets
B. Creating a priority direction for the development of the world economy
B. Improving national accounting practices and methods D. Simplification of accounting rules
2. All of the following apply to the objectives for which the IFRS Committee has a primary role, with the exception of A. Developing high quality uniform financial reporting standards
B. Carrying out work on convergence of IFRS with national accounting standards
B. Carrying out work on replacing national standards with international standards D. Ensuring the dissemination and control over the application of IFRS
3. The IASB does not commit itself
A. Support the objectives of the IASB
B. Support the work of the IASB
B. Rebuild national standards
D. Publish each International Standard
4. International standards do not apply A. To the balance sheet B. To the income statement
B. To the report on changes in financial position D. To management reporting
5. International Financial Reporting Standards A. They are mandatory B. They are advisory in nature C. May be partially applied
D. Are mandatory for those companies that have decided to prepare financial statements in accordance with IFRS
6. Differences in accounting and reporting of different countries are due to
A. Links between financial reporting and taxation B. Legal systems
B. Differences in the capabilities of professional organizations D. Sources of financing the economy
7. The International Accounting Standards Committee is located A. Brussels B. Washington C. London D. Moscow
8. The International Accounting Standards Committee was established in 1973
A. Agreement between governments from 11 countries B. Decision of the International Congress of Accountants
B. Agreement between professional accountancy organizations from 9 countries D. United Nations decision
9. In what accounting system the interests of tax authorities are taken out of the financial reporting A. Anglo-American B. Continental B. Latin American
D. There are no correct answers
10. IFRS is not used as national accounting standards A. Kuwait B. Russia
B. Netherlands D. Germany
11. Development of a system of standards applicable to any country and in any situation
- the essence of the idea
A. Harmonization B. Standardization C. Unification
D. There are no correct answers
12. The leading organization for the unification of accounting is
A. International Accounting Standards Board
B. Securities and Exchange Commission
B. American Accounting Organization
D. International Accounting Standards Committee
13. The purpose of the financial statements is to present all of the following except A. Financial position
B. Changes in financial position C. Performance D. Management efficiency
14. Results of transactions and other events are recognized on an accrual basis.
A. At the time of receipt of money
B. After receiving the money
B. At the time of transactions
D. Does not depend on the movement of money
15. Going concern means that
A. The business will make continuous profit
B. The company will operate in the foreseeable future C. The company is operating normally
D. You can only deal with enterprises that are not threatened with bankruptcy
16. Qualitative characteristics include all of the following, with the exception of A. Comprehensibility B. Relevance
B. Reliability
G. Simplicity
17. Compliance with the principle of prudence requires that not be overstated A. Assets B. Expenses
B. Liabilities D. Capital
18. Accounting policies that are inconsistent with IFRS are explained by
A. Disclosures about accounting policies adopted
B. Clarifications
B. Submission of an Explanatory Note
D. None of the above
Additional Information
19. When a departure from IFRS has a continuing impact on performance A. Compliance with IFRS is required B. Disclosure of this must be made in each reporting period B. Deferred tax asset is createdD. Information is disclosed in one (first) reporting period
20. Going concern accounts assume that the business will continue for A. 6 months B. 1 year C. 10 years
D. Foreseeable future
21. Fair value is generally used
A. Market value determined by valuation
B. Residual value
B. Residual Value
D. Cost
22. When the value of fixed assets decreases in accordance with IFRS 16, they A. Not depreciated B. Decreased to the possible net realizable value
B. Depreciated to residual value D. Depreciated to market value
23. For the calculation of depreciation, all the indicators below must be known, except A. Initial cost B. Current market value C. Estimated service life D. Residual value
24. What is the fair value of equipment in accordance with IFRS A. Market value as determined by measurement B. Carrying amount C. Residual value
D. Present value
25. The historical cost of intangible assets acquired for a fee is A. The sum of all actual acquisition costs
B. The sum of all actual manufacturing costs C. Market value D. Monetary valuation agreed by the founders
26. Intangible assets include
A. Database
B. Name of place of origin
B. Trademark
D. Industrial design
27. Fixed assets include the assets of the organization if they
A. Capable of bringing economic benefits (income) to the organization in the future
B. Not able to bring economic benefits (income) to the organization in the future
B. Capable of altering their natural form
D. They participate in the production cycle of the organization once.
28. Fixed assets include the assets of an organization if A. Their useful life exceeds 12 months.
B. Their useful life does not exceed 12 months. B. Their useful life is exactly 1 year D. Their useful life does not play any role
29. Minority interest under IFRS 1 is
A. Part of the capital owned by the parent company
B. Share in equity and net income held by subsidiaries and
which the parent company does not directly own
B. Part of capital not owned by the parent company
D. There are no right answers
30. The method of reflecting expenses by the nature of expenses is used in the preparation of A. Statement of financial results B. Statement of cash flows C. Balance sheet D. Explanatory note