AICPAのFAR最新問題試験に合格することは容易なことではなくて、良い訓練ツールは成功の保証でNewValidDumpsは君の試験の問題を準備してしまいました。君の初めての合格を目標にします。 異なるバーションはあなたに違う体験を感じさせます。もちろん、どのバーションのAICPAのFAR最新問題試験の資料でも高品質です。 ITの専門者はAICPAのFAR最新問題認定試験があなたの願望を助けって実現できるのがよく分かります。
NewValidDumpsの試験トレーニング資料はAICPAのFAR - CPA Financial Accounting and Reporting最新問題認定試験の100パーセントの合格率を保証します。 そのデモはFAR 練習問題試験資料の一部を含めています。私たちは本当にお客様の貴重な意見をFAR 練習問題試験資料の作りの考慮に入れます。
NewValidDumpsで、あなたの試験のためのテクニックと勉強資料を見つけることができます。NewValidDumpsのAICPAのFAR最新問題試験トレーニング資料は豊富な知識と経験を持っているIT専門家に研究された成果で、正確度がとても高いです。NewValidDumpsに会ったら、最高のトレーニング資料を見つけました。
もし君がAICPAのFAR最新問題に参加すれば、良い学習のツルを選ぶすべきです。AICPAのFAR最新問題認定試験はIT業界の中でとても重要な認証試験で、合格するために良い訓練方法で準備をしなければなりません。。
NewValidDumpsのAICPAのFAR最新問題試験トレーニング資料は試験問題と解答を含まれて、豊富な経験を持っているIT業種の専門家が長年の研究を通じて作成したものです。その権威性は言うまでもありません。
QUESTION NO: 1
How should the effect of a change in accounting estimate be accounted for?
A. By restating amounts reported in financial statements of prior periods.
B. By reporting pro forma amounts for prior periods.
C. As a prior period adjustment to beginning retained earnings.
D. In the period of change and future periods if the change affects both.
Answer: D
Explanation:
Choice "d" is correct, a "change in accounting estimate" affects only the current and subsequent
(future)
periods, if the change affects both. It does not affect "prior periods," nor "retained earnings." Choice
"a" is
incorrect. Restating prior years' financial statements is required when comparative financial statements
are shown for prior period adjustments of "corrections of errors," "changes in entities," and changes in
accounting principle. Choices "b" and "c" are incorrect. A "change in accounting estimate" does not affect
prior periods.
QUESTION NO: 2
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with
Quo's president and outside accountants, made changes in accounting policies, corrected several errors
dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List B represents the general accounting treatment
required for these transactions. These treatments are:
. Cumulative effect approach - Include the cumulative effect of the adjustment resulting from the accounting change or error correction in the 1993 financial statements, and do not restate the 1992 financial statements.
. Retroactive or retrospective restatement approach - Restate the 1992 financial statements and adjust
1 992 beginning retained earnings if the error or change affects a period prior to 1992.
. Prospective approach - Report 1993 and future financial statements on the new basis but do not restate
1 992 financial statements.
Item to Be Answered
Quo changed from FIFO to average cost to account for its raw materials and work in process inventories.
List B (Select one)
A. Cumulative effect approach.
B. Retroactive or retrospective restatement approach.
C. Prospective approach.
Answer: B
Explanation:
Choice "B" is correct. A change in accounting principle should be shown in the retained earnings statement of the earliest year presented as an adjustment of the beginning balance. All prior year financial
statements are recast.
QUESTION NO: 3
Rock Co.'s financial statements had the following balances at December 31:
What amount should Rock report as comprehensive income for the year ended December 31?
A. $400,000
B. $420,000
C. $520,000
D. $570,000
Answer: C
Explanation:
Choice "c" is correct. Comprehensive Income includes all items included in "Net Income" plus "Other
Comprehensive Income" items. Since the $50,000 extraordinary gain is already included in Net
Income,
Comprehensive Income is:
QUESTION NO: 4
The effect of a material transaction that is infrequent in occurrence but not unusual in nature should be
presented separately as a component of income from continuing operations when the transaction results in a:
A. Option A
B. Option B
C. Option C
D. Option D
Answer: A
Explanation:
Choice "a" is correct, Yes - Yes. A material transaction that is "infrequent in occurrence" but not
"unusual
in nature" should be presented separately as a component of "income from continuing operations" when
the transaction results in a gain or loss.
QUESTION NO: 5
Which of the following should be disclosed for each reportable operating segment of an enterprise?
A. Option A
B. Option B
C. Option C
D. Option D
Answer: A
Explanation:
Choice "a" is correct. For each reportable segment of an enterprise, both profit or loss and total assets
should be disclosed. In disclosure questions, if you are not sure, disclose the most rather than the least.
Choice "b" is incorrect. For each reportable segment of an enterprise, both profit or loss and total assets
should be disclosed. Choice "c" is incorrect. For each reportable segment of an enterprise, both profit or
loss and total assets should be disclosed. Choice "d" is incorrect. For each reportable segment of an enterprise, both profit or loss and total assets should be disclosed.
Fortinet NSE5_FMG-7.2 - 何の問題があったらお気軽に聞いてください。 Palo Alto Networks PCCSE - 時間とお金の集まりより正しい方法がもっと大切です。 NewValidDumpsを利用したら、あなたはもう最も良いAICPAのMicrosoft DP-203のトレーニング資料を見つけたのです。 AICPAのWGU Secure-Software-Design試験を準備しているあなたに試験に合格させるために、我々NewValidDumpsは模擬試験ソフトを更新し続けています。 その団体はいつでも最新のAICPA SAP C_TS462_2022-KR試験トレーニング資料を追跡していて、彼らのプロな心を持って、ずっと試験トレーニング資料の研究に力を尽くしています。
Updated: May 26, 2022
試験コード:FAR
試験名称:CPA Financial Accounting and Reporting
最近更新時間:2024-06-02
問題と解答:全 165 問
AICPA FAR 受験料過去問
ダウンロード
試験コード:FAR
試験名称:CPA Financial Accounting and Reporting
最近更新時間:2024-06-02
問題と解答:全 165 問
AICPA FAR 最新対策問題
ダウンロード
試験コード:FAR
試験名称:CPA Financial Accounting and Reporting
最近更新時間:2024-06-02
問題と解答:全 165 問
AICPA FAR 出題内容
ダウンロード