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、To account for its foreign operations, Romulus has most likely designated the euro as the functional currency for:【单选题】

A.Julius only.

B.Augustus only.

C.both Julius and Augustus.

正确答案:A

答案解析:A is correct. If the current rate method is being used (as it is for Julius), the local currency (euro) is the functional currency. When the temporal method is being used (as it is for Augustus), the parent company’s currency (US dollar) is the functional currency.

2、Based on the translation method being used for Julius, the subsidiary is most likely:【单选题】

A.a sales outlet for Romulus’s products.

B.a self-contained, independent operating entity.

C.using the US dollar as its functional currency.

正确答案:B

答案解析:B is correct. Julius is using the current rate method, which is most appropriate when it is operating with a high degree of autonomy.

3、Yu’s determination regarding Transaction 2 should be based on the currency of the:【单选题】

A.loan.

B.bank.

C.borrower.

正确答案:C

答案解析:C is correct. The currency of Ngcorp as the borrowing foreign subsidiary, relative to that of Ambleu, determines Ambleu’s choice of translation method for Transaction 2. Because Ngcorp’s functional currency is the Bindiar franc and Ambleu’s presentation currency is the Norvoltian krone, the current rate method rather than the temporal method should be used. Regardless of the currency in which the loan is denominated, the loan is first recorded in Ngcorp’s financial statements. Then, Ngcorp’s financial statements, which include the bank loan, are translated into Ambleu’s consolidated financial statements.

4、Which of Chen's reasons concerning Gilt best supports her position on the security?.【单选题】

A.3

B.1

C.2

正确答案:A

答案解析:Reason 3, that Gilt has suspended the most recent (see "note b" of Exhibit 2) and expected future interest payments until it restructures, is the best reason to consider the investment in Gilt is permanently impaired. 

5、Based on Exhibit 1 and the method XYZ uses to link pension benefits to salaries, the change in the compensation growth rate compared with the prior period will most likely result in:【单选题】

A.lower periodic pension cost.

B.no change in the periodic pension cost.

C.higher periodic pension cost.

正确答案:A

答案解析:A is correct. A decrease in the assumed future compensation growth rate will decrease a company’s pension obligation when the pension formula is based on the final year’s salary. Lowering the assumed future compensation growth rate decreases the service and interest components of periodic pension costs because of a decreased annual unit credit.