江西财经大学国际会计期末考试试卷 C

江西财经大学

09－10第二学期期末考试试卷

试卷代码：02502C 授课课时：32

课程名称：国际会计适用对象：本科

试卷命题人王宏试卷审核人：__________

ⅠMultiple Choice Questions (20 points)

1. Among the factors affecting accounting development are the economic and political ties

between countries. Which of the following pairs of countries do not have such ties with each other?

a. Philippines and the United States

b. Singapore and the United Kingdom

c. Malaysia and Argentina

d. Indonesia and the Netherlands

e. France and Germany

2. The status of the accounting profession is a factor that affects accounting development in

countries. In which of the following countries is accounting not regarded favorably as a career choice?

a. United States

b. New Zealand

c. Russia

d. Australia

e. Canada

3. The International Federation of Accountants (IFAC) is not involved in:

a. harmonizing global auditing practices.

b. providing ethical guidelines for auditors on issues such as integrity and objectivity.

c. establishing public sector standards applicable to all levels of government.

d. maintaining auditor independence in today's complex business environment.

e. administering a worldwide uniform examination for auditors.

4. The "world class issuer" approach to global accounting harmonization is not very promising

because:

a. it is opposed by the U.S. Securities and Exchange Commission.

b. there are difficulties in establishing and agreeing upon the criteria for inclusion.

c. it faces strong opposition by U.S. companies.

d. there are practical difficulties in implementation.

e. of all of the above.

5. Under SFAS No. 52, the current rate method of translation is used when

a. the local currency is the functional currency.

b. the local currency is the reporting currency.

c. the parent's currency is the functional currency.

d. the parent's currency is the reporting currency.

6. Under SFAS No. 52, a hyperinflationary economy is defined as one that has inflation of

approximately:

a. 100 percent per year

b. 100 percent or more over a three year period

c. 25 percent per year

d. None of the above

7. Sandvika Corp. acquired a warehouse at the start of the year 2003 - its first year of operation -

for 10 million Norwegian kroner. The warehouse was to be depreciated over 20 years using the straight line method. At the end of 2003, an appraiser indicated that the replacement cost of the warehouse was 12 million Norwegian kroner. For the year 2003, Sandvika's realized and unrealized holding gains respectively related to the warehouse were:

a. 100,000 kroner and 1,900,000 kroner.

b. 100,000 kroner and 2,000,000 kroner

c. 200,000 kroner and 22,000,000 kroner

d. 200,000 kroner and 2,000,000 kroner

e. None of the above.

8. Sandvika Corp. acquired a warehouse at the start of the year 2000 - its first year of operation -

for 10 million Norwegian kroner. The warehouse was to be depreciated over 20 years using the straight line method. At the end of 2003, an appraiser indicated that the replacement cost of the warehouse was 12 million kroner. For the year 2003, Sandvika's realized and unrealized holding gains respectively related to the warehouse were:

a. 100,000 kroner and 1,600,000 kroner

b. 200,000 kroner and 1,600,000 kroner

c. 100,000 kroner and 2,000,000 kroner

d. 400,000 kroner and 2,000,000 kroner

e. None of the above.

9. Companies doing business globally respond to foreign users of their financial

statements in a variety of ways. Which of the following statements is true?

a. Most companies opt for limited restatements since they result in limited costs.

b. Secondary financial statements are the least expensive of the alternatives available to

companies.

c. The do nothing approach is invariably the most sensible choice.

d. Each approach can be appropriate for a company that uses it if the option chosen is a result

of a reasonable cost-benefit analysis by management.

e. A convenience translation is almost always chosen by management because of its

convenience.