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2020年CFA考试《CFA一级》章节练习题精选
帮考网校2020-01-20 16:57
2020年CFA考试《CFA一级》章节练习题精选

2020年CFA考试《CFA一级》考试共240题,分为单选题。小编为您整理Financial Statement Analysis5道练习题,附答案解析,供您备考练习。


1、According to the IFRS Framework, which of the following qualitative characteristicsmost likely indicates that different knowledge and independent observerswould agree that the information presented faithfully represents the economic phenomenait purports to represent?【单选题】

A.Verifiability.

B.Comparability.

C.Understandability.

正确答案:A

答案解析:财务报告的定性化特征包括以下两个:相关性(relevance)和公允陈述(faithful representation)。同时,还有另外4个提高相关性和公允陈述的特征,包括可比性(comparability)、可核查性(verifiability)、及时性(timeliness)和易懂性(understandability)。题目中,是关于可核查性的标准定义。

2、The least likely reason that a security analyst needs to understand the accounting process is to:【单选题】

A.prevent earnings manipulation by management.

B.make adjustments to reflect items not reported in the financial statements.

C.aid in the assessment of management’s judgment in accruals and valuations.

正确答案:A

答案解析:“Financial Reporting Mechanics,” Thomas R. Robinson, Jan Hendrik van Greuning, Karen O’Connor Rubsam, Elaine Henry, and Michael A. Broihahn
2012 Modular Level I, Vol. 3, pp. 76–78
Study Session: 7-23-g
Explain the use of the results of the accounting process in security analysis.
A is correct. Understanding the accounting process may assist an analyst in identifying earnings manipulation, but it will not prevent the manipulation of earnings by management. It is important for analysts to understand the accounting process so they can make adjustments for items not reported and to aid in the assessment of management’s judgment of accruals and valuations.

3、On 1 January, a company that prepares its financial statements according to International FinancialReporting Standards (IFRS) arranged financing for the construction of a new plant. The company:
·borrowed NZ$5,000,000 at an interest rate of 8%,
·issued NZ$5,000,000 of preferred shares with a cumulative dividend rate of 6%, and
·temporarily invested NZ$2,000,000 of the loan proceeds during the first six months of constructionand earned 7% on that amount.
The amount of financing costs to be capitalized to the cost of the plant in the first year is closest to:【单选题】

A.NZ$330,000.

B.NZ$400,000.

C.NZ$630,000.

正确答案:A

答案解析:The interest costs can be capitalized, but under IFRS, any amounts earned by temporarily investingthe funds are deducted from the capitalized amount. The costs related to the preferred shares cannotbe capitalized.

CFA Level I
"Long-Lived Assets," Elaine Henry and Elizabeth A. Gordon
Section 2.1

4、A company that uses International Financial Reporting Standards (IFRS) entered into a three-yearconstruction project with a total contract price (all figures in thousands) of $5,300 and expected costsof $4,400. At inception, the outcome of the contract could not be reliably measured, but the companydid expect to recover its costs. Actual results are shown in the following table:

The amount of revenue (in thousands) the company recognized in Year 2 was closest to:【单选题】

A.$0.

B.$2,409.

C.$2,000.

正确答案:C

答案解析:Under IFRS, if the outcome of the contract cannot be reliably measured, but the company expects torecover its costs, then revenue may be recognized to the extent of the contract costs incurred. InYear 2, the costs incurred were $2,000 thousand, thus, the revenue would also be $2,000 thousandand the gross profit would be $0.
CFA Level I
"Understanding Income Statements," Elaine Henry and Thomas R. Robinson
Section 3.2.1

5、According to International Financial Reporting Standards, which of the following conditions should be satisfied in order to report revenue on the income statement?【单选题】

A.Payment has been received.

B.Costs can be reliably measured.

C.Goods have been delivered to the customer.

正确答案:B

答案解析:“Understanding Income Statements,” Elaine Henry and Thomas R. Robinson
2012 Modular Level I, Vol. 3, pp. 158–159
Study Session 8-25-b
Describe the general principles of revenue recognition and accrual accounting, specific revenue recognition applications (including accounting for long-term contracts, installment sales, barter transactions, and gross and net reporting of revenue), and the implications of revenue recognition principles for financial analysis.
B is correct. The IFRS conditions that should be met include that the costs incurred can be reliably measured, and it is likely that the economic benefits will flow to the entity, not the actual receipt of any payment, and that the significant risks and rewards of ownership have been transferred, which is normally when the goods have been delivered, but not always.

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