2020年CFA考试《CFA二级》考试共题，分为。小编为您整理Financial Reporting and Analysis (1)5道练习题，附答案解析，供您备考练习。

1、Compared with using the Singapore dollar as Acceletron’s functional currency for 2007, if the US dollar were the functional currency, it is most likely that Redline’s consolidated:【单选题】

A.inventories will be higher.

B.receivable turnover will be lower.

C.fixed asset turnover will be higher.

正确答案:C

答案解析:C is correct. If the US dollar is the functional currency, the temporal method must be used. Revenues and receivables (monetary asset) would be the same under either accounting method. Inventory and fixed assets were purchased when the US dollar was stronger, so at historical rates (temporal method), translated they would be lower. Identical revenues/lower fixed assets would result in higher fixed-asset turnover.

2、If Gronola is reclassified as available for sale, the balance sheet carrying value of Nelson's investment portfolio (in € thousands) at December 31, 2016 would be closest to:【单选题】

A.128,000.

B.165,000.

C.134,000 

正确答案:C

答案解析:Basin and Gronola will be measured at their market value where Cathay is measured at cost. Therefore, the value will be €26,000+34,000+74,000 = €134,000. A is incorrect because Gronola should be valued at market value. B is incorrect because held to maturity asset is valued at cost.

3、Based on Byron’s forecast, NinMount’s 2009 total asset turnover ratio on beginning assets under the equity method is most likely:【单选题】

A.lower than if the results are reported using consolidation.

B.the same as if the results are reported using consolidation.

C.higher than if the results are reported using consolidation.

正确答案:A

答案解析:A is correct. Using the equity method, Total asset turnover = Net sales/Beginning total assets = ￡950/￡2,140 = 0.444. Total asset turnover on beginning assets using consolidation = ￡1,460/ ￡2,950 = 0.495. Under consolidation, Assets = ￡2,140 ? 320 + 1,070 + 60 = ￡2,950. Therefore, total asset turnover is lowest using the equity method.

4、Based on Smith's forecast, Nelson's net profit margin for 2017 will be highest under which method?【单选题】

A.Equity Method.

B.Consolidation with partial goodwill.

C.Consolidation with full goodwill.

正确答案:A

答案解析:Net income is the same measured by any of the methods but the equity method. Under equity method, net sales only include Nelson's result whereas the consolidation method includes both Nelson and Golden's result. Therefore, net profit margin is highest using the equity method.

5、Based on Note 16, after reclassifying pension components to reflect economic income or expense, the net adjustment to profit before taxation is:【单选题】

A.–€205 million.

B.–€94 million.

C.+€129 million.

正确答案:B

答案解析:B is correct. Operating income is adjusted to include only the current service costs, the interest cost component is reclassified as interest expense, and the actual return on plan assets is added as investment income. Profit before taxation adjusted for actual rather than expected return on plan assets will decrease by €94 million (205 – 299).