快速查题-ACCA英国注册会计师试题

Which of the following items (that all generate future economic benefits, and whose costs can be measured reliably), is an

intangible non-current asset?

1 Computer hardware owned by a business

2 Operating software that operates the computer hardware in (1)

3 A patent bought by a business

4 An extension to an office building owned by a business

A company receives rent for subletting part of its office block.Rent, receivable quarterly in advance, is received as follows:

Date of receipt                          Period covered                                                                $1

October 20X1                            3 months to            31 December 20X1                          7,500

30 December 20X1                   3 months to            31 March 20X2                               7,5004

April 20X2                                  3 months to           30 June 20X2                                  9,0001

July 20X2                                   3 months to           30 September 20X2                        9,0001

October 20X2                            3 months to            31 December 20X2                          9,000

What figures, based on these receipts, should appear in the company's financial statements for the year ended 30 November 20X2?

Statement of profit or loss                   Statement of financial position

A company pays rent quarterly in arrears on 1 January, 1 April, 1 July and 1 October each year. The rent was increased from $90,000 per year to $120,000 per year as from 1 October 20X2.

What rent expense and accrual should be included in the company's financial statements for the year ended 31 January

20X3?

Rent expense         Accrual

$                                $

According to IAS 38 Intangible assets, which of the following statements concerning the accountingtreatment of research and development expenditure are true?

1 Development costs recognised as an asset must be amortised over a period not exceeding five years.

2 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as

incurred.

3 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether

there will be adequate finance available to complete the project.

4 Development projects must be reviewed at each reporting  date, and expenditure on any project no longer qualifying for

capitalisation must be amortised through the statement of profit or loss and other comprehensive income over a period no exceeding five years.

According to IAS 38 Intangible assets, which of the following are intangible non-current assets in the financial statements of

Iota Co?

1 A patent for a new glue purchased for $20,000 by Iota Co

2 Development costs capitalised in accordance with IAS 383 A licence to broadcast a television series, purchased by Iota Co

for $150,0004 A state of the art factory purchased by Iota Co for $1.5million

According to IAS 38 Intangible assets, which of the following statements about intangible assets are correct?

1 If certain criteria are met, research expenditure must be recognised as an intangible asset.

2 If certain criteria are met, development expenditure must be capitalised

3 Intangible assets must be amortised if they have a definite useful life

According to IAS 38 Intangible assets, which of the following statements concerning the accountingtreatment of research and development expenditure are true?

1 If certain criteria are met, research expenditure may be recognised as an asset.

2 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as

incurred.

3 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether

there will be adequate finance available to complete the project.

4 Development expenditure recognised as an asset must be amortised over a period not exceeding five years.

5 The financial statements should disclose the total amount of research and development expenditure recognised as an

expense during the period.

According to IAS 38 Intangible assets, which of the following statements are correct?

1 Research expenditure should not be capitalised.

2 Intangible assets are never amortised.

3 Development expenditure must be capitalised if certain conditions are met.

According to IAS 38 Intangible assets, which of the following statements about research anddevelopment expenditure are

correct?

1 Research expenditure, other than capital expenditure on research facilities, should be recognised as an expense as

incurred.

2 In deciding whether development expenditure qualifies to be recognised as an asset, it is necessary to consider whether

there will be adequate finance available to complete the project.

3 Development expenditure recognised as an asset must be amortised over a period not exceeding five years.

According to IAS 38 Intangible assets, which of the following statements about research and development expenditure are

correct?

1 If certain conditions are met, an entity may decide to capitalise development expenditure.

2 Research expenditure, other than capital expenditure on research facilities, must be written off as incurred.

3 Capitalised development expenditure must be amortised over a period not exceeding 5 years.

4 Capitalised development expenditure must be disclosed in the statement of financial position under intangible non-current

assets.