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Financial Control of the Organization.d

Financial Control of the Organization.d — вариант 8

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12 вопросов Вариант 8 Доступ 7 дней
Содержание теста

Вопросы и варианты

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Вопрос 1

High Times Corporation owns 300 shares of Low Tide Company’s ordinary shares. Low Tide has 1,000,000 ordinary shares outstanding. High Times Corporation is the:

  1. investor
  2. investee
  3. parent company.
  4. controlling company.
Вопрос 2

High Times Corporation owns 300 shares of Low Tide Company’s ordinary shares. Low Tide has 1,000,000 ordinary shares outstanding. Low Tide Company is the:

  1. investor
  2. investee
  3. parent company.
  4. controlling company.
Вопрос 3

How are available-for-sale investments in shares reported on the balance sheet?

  1. As long-term assets
  2. As current assets
  3. As either current assets or long-term assets, depending on when the investment is expected to be sold
  4. As both long-term assets and shareholders' equity
Вопрос 4

The Unrealized Gains and Losses on Available-for-sale Securities account appear in which financial statement?

  1. The balance sheet in the assets section
  2. The balance sheet as part of shareholders' equity
  3. The income statement as an operating expense
  4. The balance sheet in the liabilities section
Вопрос 5

With regard to available-for-sale securities, which of the following is used to compute net income?

  1. Realized gains
  2. Unrealized gains
  3. Both unrealized gains and realized gains
  4. Neither realized gains nor unrealized gains
Вопрос 6

The journal entry to record the receipt of a share dividend arising from an available-for-sale investment held by a company includes:

  1. a debit to Unrealized Gain on Investment and a credit to Dividend Revenue.
  2. a debit to Cash and a credit to Dividend Revenue.
  3. a debit to Cash and a credit to Unrealized Gain on Investments.
  4. no journal entry. Only a memorandum entry is required.
Вопрос 7

The journal entry to record the receipt of a cash dividend arising from an available-for-sale investment held by a company includes:

  1. a debit to Unrealized Gain on Investment and a credit to Dividend Revenue.
  2. a debit to Cash and a credit to Dividend Revenue.
  3. a debit to Cash and a credit to Unrealized Gain on Investments.
  4. no journal entry. Only a memorandum entry is required.
Вопрос 8

The receipt of a cash dividend:

  1. has no effect on assets or total equity.
  2. increases assets and increases paid-in-capital.
  3. increases assets and decreases shareholders' equity.
  4. increases assets and increases retained earnings.
Вопрос 9

The receipt of a share dividend:

  1. has no effect on assets or total equity.
  2. increases assets and increases paid-in-capital.
  3. increases assets and decreases shareholders' equity.
  4. increases assets and increases retained earnings.
Вопрос 10

The gain or loss on the sale of an investment classified as "available-for-sale" is measured by comparing the amount received from the sale of investment with the:

  1. market value of the investment.
  2. lower-of-cost-or-market value of the investment.
  3. cost of the investment.
  4. amortized cost of the investment.
Вопрос 11

An investment in ordinary shares acquired during the year at a cost of $20,000 has a year-end market value of $21,250. The year-end adjusting entry requires a:

  1. debit to Allowance to Adjust Investments to Market for $1,250.
  2. debit to Long-Term Investments for $1,250.
  3. debit to Unrealized Gain on Investment for $1,250.
  4. credit to Allowance to Adjust investment to Market for $1,250.
Вопрос 12

The amount that shareholders have invested in a corporation is called:

  1. retained earnings.
  2. investment
  3. revenue
  4. paid-in capital.