MOOC 中级财务会计(暨南大学)1463159168 最新慕课完整章节测试答案
Week 1 Liability I
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Week 1 Liability I Module Test
1、单选题：
Which of the following is a financial liability? ( )
选项：
A: A magazine publisher's obligation to provide the magazine monthly for an agreed-upon period.
B: Warranties.
C: Accounts payable.
D: Income taxes payable.
答案: 【 Accounts payable.】
2、单选题：
Which is an example of a liability? ( )
选项：
A: The decision to borrow $150,000 from the ABC Bank on January 15, 2013.
B: Withdrawing $10,000 from the operating line of credit on January 15, 2013.
C: Selecting the supplier to provide the raw materials for the manufacturing process.
D: Choosing the site for a future plant expansion from a list of several possible choices.
答案: 【 Withdrawing $10,000 from the operating line of credit on January 15, 2013.】
3、单选题：
Which of the following is correct about a "liability" under IFRS Framework? ( )
选项：
A: A future obligation arising from past events, the settlement of which is expected to result in an inflow of resources.
B: A present obligation arising from past events, the settlement of which is expected to result in an inflow of resources.
C: A past obligation arising from past events, the settlement of which is expected to result in an outflow of resources.
D: A present obligation arising from past events, the settlement of which is expected to result in an outflow of resources.
答案: 【 A present obligation arising from past events, the settlement of which is expected to result in an outflow of resources.】
4、单选题：
Which statement is correct under the IFRS definition for a "liability"? ( )
选项：
A: The obligating event must be probable before the liability can be recognized.
B: The obligating event must be virtually certain before the liability can be recognized.
C: A reliable measure of the obligation must exist before the liability can be recognized.
D: A precise measure of the obligation must exist before the liability can be recognized.
答案: 【 A reliable measure of the obligation must exist before the liability can be recognized.】
5、单选题：
Which is not an example of a financial liability? ( )
选项：
A: Payment to supplier for raw material received.
B: Obligation to repay a US dollar bank loan.
C: Obligation under a finance lease.
D: Obligation under a customer loyalty program.
答案: 【 Obligation under a customer loyalty program.】
6、单选题：
For a $200,000 trade payable with terms of 2/15, net 50, how much would be reported as "purchase discount lost" under the net method if a payment was made after 60 days? ( )
选项：
A: $0
B: $4,000
C: $5,000
D: $30,000
答案: 【 $4,000】
7、单选题：
Which statement is correct? ( )
选项：
A: Supplier discounts can only be accounted for by using the net method.
B: When the net method is used, the payable is recorded at the invoiced amount.
C: When the gross method is used, the payable is recorded at the invoiced amount less the discount
D: From a theoretical perspective, the net method should be used as forgone discounts are a financing cost
答案: 【 From a theoretical perspective, the net method should be used as forgone discounts are a financing cost】
8、单选题：
On March 1, 20X0, G company issued a $20,000, non-interest bearing note, due on March 1, 20X1, in exchange for a machine. The fair value of the machine is not easily determinable. The market rate of interest for similar transactions is 4%. G’s year-end is December 31. Which statement is correct? ( )
选项：
A: At the issuance date, the company should Debit Note Payable 19,231
B: At the issuance date, the company should Credit Note Payable 19,231.
C: At the issuance date, the company should Debit Note Payable 20,000.
D: At the issuance date, the company should Credit Note Payable 20,000.
答案: 【 At the issuance date, the company should Credit Note Payable 19,231.】
9、单选题：
On March, 20X0, G company issued a $20,000, non-interest bearing note, due on March 1, 20X1, in exchange for a machine. The fair value of the machine is not easily determinable. The market rate of interest for similar transactions is 4%. G’s year-end is December 31.Which statement is correct? ( )
选项：
A: To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 769 and Credit Note payable 769.
B: To record the accrual of interest at December 31, 20X0, the company should Debit Note payable 769 and Credit interest expense 769.
C: To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 641 and Credit Note payable 641.
D: To record the accrual of interest at December 31, 20X0, the company should Debit Note payable 641 and Credit interest expense 641.
答案: 【 To record the accrual of interest at December 31, 20X0, the company should Debit interest expense 641 and Credit Note payable 641.】
10、单选题：
In December 20X0, a shoe store offered its customers a discount voucher that entitles them to a 30% discount on their purchases the following January. The store's sales for December 20X0, were of $2 million and 15,000 vouchers were awarded to customers. The store estimates that the sale proceeds in January 2018 will be of $1.5 million and approximately 20% of the sale will be related by vouchers. Which statement is correct? ( )
选项：
A: The journal entry at 20X0: Debit Revenue 1,880,000
B: The journal entry at 20X0: Credit Revenue 1,880,000
C: The journal entry at 20X0: Debit Revenue 1,910,000
D: The journal entry at 20X0: Credit Revenue 1,910,000
答案: 【 The journal entry at 20X0: Credit Revenue 1,910,000】
随堂测验1
1、单选题：
Which of the following characteristic is required for a liability under IFRS Framework?
选项：
A: A past obligation.
B: A present obligation.
C: An unknown obligation.
D: A future obligation.
答案: 【 A present obligation.】
2、单选题：
Which of the following characteristic is required for a liability under IFRS Framework?
选项：
A: Arises from a past event.
B: Arises from a non-financial transaction
C: Arises from a future transaction
D: Arises from a forecasted transaction.
答案: 【 Arises from a past event.】
3、单选题：
Which of the following characteristic is required for a "liability" under IFRS Framework?
选项：
A: Expected to result in the inflow of economic benefits.
B: Expected to result in the inflow of economic benefits that are measurable.
C: Expected to result in the outflow of resources embodying economic benefits.
D: Expected to result in the outflow of economic benefits that are virtually certain.
答案: 【 Expected to result in the outflow of resources embodying economic benefits.】
4、单选题：
Which is not an example of a non-financial liability?
选项：
A: Warranty liability.
B: Bank loan.
C: Income taxes payable.
D: Deferred revenue.
答案: 【 Bank loan.】
随堂测验2
1、单选题：
1.For a $100,000 trade payable with terms of 2/10, net 45, how much would be reported as "purchase discount lost" under the gross method if a payment was made after 60 days?
选项：
A: $0
B: $2,000
C: $4,500
D: $10,000
答案: 【 $0】
2、单选题：
2.How are "purchase discounts lost" reported in the financial statements?
选项：
A: As a reduction of sales.
B: As an increase in liability.
C: As an increase in inventory.
D: As an expense item.
答案: 【 As an expense item.】
3、单选题：
3.Which statement is correct?
选项：
A: Supplier discounts can only be accounted for by using the gross method.
B: The amount owing for trade payables is generally not known with a high degree of certainty.
C: When the gross method is used, the payable is recorded at the invoiced amount.
D: When accounts payable are paid off, it represents a positive cash flow for the company.
答案: 【 When the gross method is used, the payable is recorded at the invoiced amount.】
随堂测验3
1、单选题：
1. Which of the following statements regarding notes payable issued at a 0% interest rate is true?
选项：
A: The issuer of the note will not recognize any interest expense.
B: A 0% interest rate indicates that the interest expense is recognized at the end of the term of the note payable.
C: Interest expense is calculated using market rates of similar debt instruments over the term of the note.
D: The note payable is recognized at face value on date of issuance.
答案: 【 Interest expense is calculated using market rates of similar debt instruments over the term of the note.】
2、单选题：
2. On January 1, 20X0, A company issued a $200,000, non-interest bearing note, due on January 1, 20X1, in exchange for a computer system. Assume a December 31 year-end and that the company does not prepare interim statements. The Market rate of interest is 5%. Which statement is correct?
选项：
A: At the issuance date, the company should Debit Note Payable 190,476.
B: At the issuance date, the company should Credit Note Payable 190,476.
C: At the issuance date, the company should Debit Note Payable 200,000.
D: At the issuance date, the company should Credit Note Payable 200,000.
答案: 【 At the issuance date, the company should Credit Note Payable 190,476.】
3、单选题：
3. On January 1, 20X0, A company issued a $200,000, interest bearing note, due on January 1, 20X1, in exchange for a computer system. Assume a December 31 year-end and that the company does not prepare interim statements. The 5% annual interest rate on the note, which approximates the market rate of interest for similar transactions. Which statement is correct?
选项：
A: At the issuance date, the company should Debit Note Payable 190,476.
B: At the issuance date, the company should Credit Note Payable 190,476.
C: At the issuance date, the company should Debit Note Payable 200,000.
D: At the issuance date, the company should Credit Note Payable 200,000.
答案: 【 At the issuance date, the company should Credit Note Payable 200,000.】
随堂测验4
1、单选题：
1. Which of the following liabilities can potentially be reported as either or both a current and a non-current liability?
选项：
A: Bank overdraft.
B: Unearned revenue.
C: 180-day bank loan.
D: Income taxes payable.
答案: 【 Unearned revenue.】
2、单选题：
2.A clothing store maintains a loyalty program for its customers. For every purchase, members receive points that do not expire. In fiscal 20X0, the store made sales of $1 million and awarded 50,000 points that have a fair value of $50,000. The company estimates that approximately 75% of these points will be redeemed by members. Which statement is correct?
选项：
A: The journal entry at 20X0： Debit Revenue 1000,000.
B: The journal entry at 20X0： Credit Revenue 1000,000.
C: The journal entry at 20X0： Debit Unearned Revenue 50,000.
D: The journal entry at 20X0： Credit Unearned Revenue 50,000
答案: 【 The journal entry at 20X0： Credit Unearned Revenue 50,000】
3、单选题：
3. A clothing store maintains a loyalty program for its customers. For every purchase, members receive points that do not expire. In fiscal 20X0, the store made sales of $1 million and awarded 50,000 points that have a fair value of $50,000. The company estimates that approximately 75% of these points will be redeemed by members. Members redeemed 10,000 points in fiscal 20X1. Which statement is correct?
选项：
A: The journal entry at 20X1： Debit Unearned Revenue 13，333
B: The journal entry at 20X1： Credit Unearned Revenue 13，333
C: The journal entry at 20X1： Debit Unearned Revenue 10,000
D: The journal entry at 20X1：Credit Unearned Revenue 10,000
答案: 【 The journal entry at 20X1： Credit Unearned Revenue 13，333】
随堂测验5
1、单选题：
A clothing store maintains a loyalty program for its customers. For every purchase, members receive points that do not expire. In fiscal 20X0, the store made sales of 1 million dollars and awarded 50,000 points that have a fair value of $50,000. The company estimates that approximately 75% of these points will be redeemed by members. Which statement is correct? ( )
选项：
A: The journal entry at 20X0: Debit Revenue 1000,000
B: The journal entry at 20X0: Credit Revenue 1000,000
C: The journal entry at 20X0: Debit Unearned Revenue 50,000
D: The journal entry at 20X0: Credit Unearned Revenue 50,000
答案: 【 The journal entry at 20X0: Credit Unearned Revenue 50,000】
2、单选题：
A clothing store maintains a loyalty program for its customers. For every purchase, members receive points that do not expire. In fiscal 20X0, the store made sales of 1 million dollars and awarded 50,000 points that have a fair value of $50,000. The company estimates that approximately 75% of these points will be redeemed by members. Members redeemed 10,000 points in fiscal 20X1. Which statement is correct? （ ）
选项：
A: The journal entry at 20X1： Debit Unearned Revenue 13，333
B: The journal entry at 20X1： Credit Unearned Revenue 13，333
C: The journal entry at 20X1： Debit Unearned Revenue 10,000
D: The journal entry at 20X1：Credit Unearned Revenue 10,000
答案: 【 The journal entry at 20X1： Credit Unearned Revenue 13，333】
Week 2 Liability II
Week 2 Liability II Module Test
1、单选题：
Sales made in fiscal 20X0 for $50,000,000 include a 5 year warranty coverage. The estimated cost for warranty is expected to be 2% for the first 4 years and 5% for the last year. Determine how much warranty expense will be recorded in fiscal 20X0. ( )
选项：
A: 1,000,000
B: 4,000,000
C: 5,000,000
D: 6,500,000
答案: 【 6,500,000】
2、单选题：
Which statement about warranties is correct? ( )
选项：
A: Warranties are provisions.
B: Warranties included with the product sold are accounted for under IFSR15.
C: Warranties are financial liabilities.
D: Companies only use cash basis method to account for warranty costs.
答案: 【 Warranties are provisions.】
3、单选题：
Which statement about contingent liabilities is correct? ( )
选项：
A: It is a possible obligation that arises from past transactions and events.
B: It is an obligation that arises from past transactions and events.
C: It involves uncertainty about either the timing or the amount of payment.
D: It is a condition that depends upon the outcome of an anticipated event.
答案: 【 It is a possible obligation that arises from past transactions and events.】
4、单选题：
Which statement is correct about provisions, contingent assets and contingent liabilities? ( )
选项：
A: Provisions are recorded in the financial statements whereas contingent assets are not recorded.
B: Provisions are recorded in the financial statements whereas contingent liabilities are not recorded.
C: Probable contingent liabilities are recorded at management's best estimates.
D: Probable contingent assets are recorded at management's best estimates.
答案: 【 Provisions are recorded in the financial statements whereas contingent assets are not recorded.】
5、单选题：
What are "non-current liabilities"? ( )
选项：
A: Obligations that are expected to be settled in the next operating cycle of the company.
B: Obligations that are expected to be settled within the next 12 months.
C: Obligations that are expected to be settled more than 12 months after the company's year-end.
D: Obligations that are expected to be settled more than 24 months after the company's year-end.
答案: 【 Obligations that are expected to be settled more than 12 months after the company's year-end.】
6、单选题：
Which statement is correct about financial leverage? ( )
选项：
A: It reduces the risk of bankruptcy to the company.
B: It reduces the level of risk exposure of the shareholders.
C: It quantifies the relationship between the relative level of a firm's debt and its equity base.
D: It has nothing to do with the relationship between the relative level of a firm's debt and its equity base.
答案: 【 It quantifies the relationship between the relative level of a firm's debt and its equity base.】
7、单选题：
Which statement is correct about the financial leverage of a company with an equity base of $400,000? ( )
选项：
A: A company that borrows $150,000 is more leveraged than a company that borrows $250,000.
B: A company that borrows $250,000 is more leveraged than a company that borrows $150,000.
C: The return on equity of the company is unaffected by the financial leverage.
D: The return on equity of the company will be higher if it has a lower leverage.
答案: 【 A company that borrows $250,000 is more leveraged than a company that borrows $150,000.】
8、单选题：
What is the "best efforts" approach? ( )
选项：
A: Broker's guarantee of the price to the borrower.
B: Broker sells as much of the debt issue as possible.
C: Debt that is backed by specific collateral.
D: Feature that permits the issuer to redeem before maturity.
答案: 【 Broker sells as much of the debt issue as possible.】
9、单选题：
What is "firm commitment" underwriting? ( )
选项：
A: Broker's guarantee of the price to the borrower.
B: Broker sells as much of the debt issue as possible.
C: Debt that is backed by specific collateral.
D: Feature that permits the borrower to redeem before maturity.
答案: 【 Broker's guarantee of the price to the borrower.】
10、单选题：
What is a "covenant"? ( )
选项：
A: Guarantee of the price to the borrower.
B: Contract that outlines the terms of the borrowing agreement.
C: Promise from the borrower to restrict certain activities.
D: Feature that permits the issuer to redeem before maturity.
答案: 【 Promise from the borrower to restrict certain activities.】
随堂测验1
1、单选题：
1. Which statement about warranties is correct?
选项：
A: Warranties are provisions.
B: Warranties included with the product sold are accounted for under IFSR15.
C: Warranties are financial liabilities.
D: Companies only use cash basis method to account for warranty costs.
答案: 【 Warranties are provisions.】
2、单选题：
2. Sales made in fiscal 20X0 for $50,000,000 include a 5 year warranty coverage. The estimated cost for warranty is expected to be 2% for the first 4 years and 5% for the last year. Determine how much warranty expense will be recorded in fiscal 20X0.
选项：
A: 1,000,000
B: 4,000,000
C: 5,000,000
D: 6,500,000
答案: 【 6,500,000】
3、单选题：
3. In 20X0, Sun’s Cycles Inc. sold 2,500 mountain bikes. For the first time, Sun offered an in-store, no-charge, two-year warranty on each bike sold. Company management estimates that the average cost of providing the warranty is $5 per unit in the first year of coverage and $7 per unit in the second year. Prepare the summary journal entry to recognize Sun’s warranty expense in 20X0.
选项：
A: Dr. Warranty expense 12,500; Cr. Provision for warranty obligations 12,500;
B: Dr. Provision for warranty obligations 12,500; Cr. Wage expense 12,500;
C: Dr. Warranty expense 30,000; Cr. Provision for warranty obligations 30,000;
D: Dr. Provision for warranty obligations 30,000; Cr. Wage expense 30,000;
答案: 【 Dr. Warranty expense 30,000; Cr. Provision for warranty obligations 30,000;】
随堂测验2
1、单选题：
1. Which statement about contingencies is correct?
选项：
A: It involves only potential economic outflows of resources.
B: It is a possible condition that depends upon the outcome of a future event.
C: It involves uncertainty about either the timing or amount of payment.
D: It is an existing condition that depends upon the outcome of a future event.
答案: 【 It is an existing condition that depends upon the outcome of a future event.】
2、单选题：
2. Which statement about contingent liabilities is correct?
选项：
A: It is a possible obligation that arises from past transactions and events.
B: It is an obligation that arises from past transactions and events.
C: It involves uncertainty about either the timing or amount of payment.
D: It is a condition that depends upon the outcome of an anticipated event.
答案: 【 It is a possible obligation that arises from past transactions and events.】
3、单选题：
3. Which statement about contingencies is correct?
选项：
A: If the future outcome is remote but reliably measurable, a provision is recorded.
B: If the future outcome is remote, but not reliably measurable, disclosure is required.
C: If the future outcome is remote, but not reliably measurable, no action is required.
D: If the future outcome is remote, but reliably measurable, disclosure is required.
答案: 【 If the future outcome is remote, but not reliably measurable, no action is required.】
4、单选题：
4. Which statement is correct about provisions, contingent assets and contingent liabilities?
选项：
A: Provisions are recorded in the financial statements whereas contingent assets are not recorded.
B: Provisions are recorded in the financial statements whereas contingent liabilities are not recorded.
C: Probable contingent liabilities are recorded at management's best estimates.
D: Probable contingent assets are recorded at management's best estimates.
答案: 【 Provisions are recorded in the financial statements whereas contingent assets are not recorded.】
随堂测验3
1、单选题：
1. What are "non-current liabilities"?
选项：
A: Obligations that are expected to be settled in the next operating cycle of the company.
B: Obligations that are expected to be settled within the next 12 months.
C: Obligations that are expected to be settled more than 12 months after the company's year-end.
D: Obligations that are expected to be settled more than 24 months after the company's year-end.
答案: 【 Obligations that are expected to be settled more than 12 months after the company's year-end.】
2、单选题：
2. Which of the following would be a "non-current liability"?
选项：
A: Payment due after 3 years, but the company has violated the debt covenants.
B: Payment due to a supplier 45 days after year-end for supplies received before year-end.
C: Payment due to a supplier in 18 months for goods to be received 3 months after year-end.
D: Payment due after 3 years, on which the debt covenants have been not been violated.
答案: 【 Payment due after 3 years, on which the debt covenants have been not been violated.】
随堂测验4
1、单选题：
1. Which statement best explains the concept of "leverage"?
选项：
A: A measure of the efficiency of the company.
B: A measure of solvency of the company.
C: A measure of the company's operations.
D: A measure of the company's debt paying ability.
答案: 【 A measure of solvency of the company.】
2、单选题：
2. Which statement is correct about financial leverage?
选项：
A: It reduces the risk of bankruptcy to the company.
B: It reduces the level of risk exposure of the shareholders.
C: It quantifies the relationship between the relative level of a firm's debt and its equity base.
D: It has nothing to do with the relationship between the relative level of a firm's debt and its equity base.
答案: 【 It quantifies the relationship between the relative level of a firm's debt and its equity base.】
3、单选题：
3. Which statement is correct about the financial leverage of a company with an equity base of $400,000?
选项：
A: A company that borrows $150,000 is more leveraged than a company that borrows $250,000.
B: A company that borrows $250,000 is more leveraged than a company that borrows $150,000.
C: The return on equity of the company is unaffected by the financial leverage.
D: The return on equity of the company will be higher if it has a lower leverage.
答案: 【 A company that borrows $250,000 is more leveraged than a company that borrows $150,000.】
4、单选题：
4. Which statement is not correct about financial leverage for a $300,000 investment versus a $100,000 investment?
选项：
A: The probability of success is the same under both investment options.
B: The payout will be 3 times higher or 3 times lower with the larger investment.
C: The probability of success is 3 times greater with the larger investment.
D: The larger investment increases the return on equity but also faces a greater potential for loss.
答案: 【 The probability of success is 3 times greater with the larger investment.】
随堂测验5
1、单选题：
1. What is a "covenant"?
选项：
A: Guarantee of the price to the borrower.
B: Contract that outlines the terms of the borrowing agreement.
C: Promise from the borrower to restrict certain activities.
D: Feature that permits the issuer to redeem before maturity.
答案: 【 Promise from the borrower to restrict certain activities.】
2、单选题：
2. What are "secured bonds"?
选项：
A: Bonds that never mature.
B: Bonds that protect investors against inflation.
C: Bonds that mature at different dates.
D: Bonds backed by specific collateral.
答案: 【 Bonds backed by specific collateral.】
3、单选题：
3. What are "zero-coupon bonds"?
选项：
A: Bonds that pay the market rate of interest.
B: Bonds that are unsecured.
C: Bonds that do not pay interest.
D: Bonds that are sold at a premium.
答案: 【 Bonds that do not pay interest.】
4、单选题：
4. What is the "best efforts" approach?
选项：
A: Broker's guarantee of the price to the borrower.
B: Broker sells as much of the debt issue as possible.
C: Debt that is backed by specific collateral.
D: Feature that permits the issuer to redeem before maturity.
答案: 【 Broker sells as much of the debt issue as possible.】
5、单选题：
5.What is "firm commitment" underwriting?
选项：
A: Broker's guarantee of the price to the borrower.
B: Broker sells as much of the debt issue as possible.
C: Debt that is backed by specific collateral.
D: Feature that permits the borrower to redeem before maturity.
答案: 【 Broker's guarantee of the price to the borrower.】
Week 3 Liability III
Week 3 Liability Ill Module Test
1、单选题：
What is the effective interest rate? ( )
选项：
A: Yield on the issue date.
B: Amount to be repaid at maturity.
C: Price of bond on issue date.
D: Interest rate specified in the bond indenture.
答案: 【 Yield on the issue date.】
2、单选题：
A $100,000 5-year 6% bond is issued on January 1, 2017. The bond pays interest annually. The market rate is 8%. What is the selling price of the bonds, rounded to nearest dollar? ( )
选项：
A: $7,986
B: $92,014
C: $100,000
D: $108,425
答案: 【 $92,014】
3、单选题：
When will bonds sell at a premium? （）
选项：
A: When the coupon rate is equal to the par value.
B: When the coupon rate is below the market rate.
C: When the coupon rate is above the market rate.
D: When the coupon rate is equal to market value.
答案: 【 When the coupon rate is above the market rate.】
4、单选题：
A $100,000 5-year 7% bond is issued on January 1, 2017. The bond pays interest annually. The market rate is 6%. What is the selling premium or discount on the bonds, rounded to nearest dollar? ( )
选项：
A: $4,213 discount
B: $4,213 premium
C: $4,100 discount
D: $4,100 premium
答案: 【 $4,213 premium】
5、单选题：
What is the coupon rate? （ ）
选项：
A: Yield on the issue date.
B: Amount to be repaid at maturity.
C: Rate of return earned by the investor.
D: Interest rate specified in the bond indenture.
答案: 【 Interest rate specified in the bond indenture.】
随堂测验1
1、单选题：
1. What is the coupon rate?
选项：
A: Yield on the issue date.
B: Amount to be repaid at maturity.
C: Rate of return earned by the investor.
D: Interest rate specified in the bond indenture.
答案: 【