FAR Review 8-14

  1. Purchase discounts not taken are not included in inventory under the -----------------------.
    Purchase discounts not taken are not included in inventory under the net method.
  2. ----------------------- not taken are not included in inventory under the net method.
    Purchase discounts not taken are not included in inventory under the net method.
  3. According to the net method, ------------------------ should be included in the cost of inventory
    According to the net method, Freight Costs should be included in the cost of inventory
  4. According to IFRS, which accounting policy may an entity apply to measure investment property in periods subsequent to initial recognition?
    Cost model or fair value model.
  5. Under the measurement alternative for an investment in equity securities, the investment is measured at
    Cost minus subsequent impairment, plus or minus changes resulting from observable price changes for the identical or a similar investment of the same issuer.
  6. The costs of equipment acquired for R&D and having alternative future uses are not R&D costs. They are -------------- as tangible assets and -----------------------------.
    The costs of equipment acquired for R&D and having alternative future uses are not R&D costs. They are capitalized as tangible assets and depreciated accordingly.
  7. The costs of equipment acquired for a particular project and having no alternative future uses and salaries of personnel engaged in R&D are R&D costs. They are ------------------------when incurred.
    The costs of equipment acquired for a particular project and having no alternative future uses and salaries of personnel engaged in R&D are R&D costs. They are expensed when incurred.
  8. ------------------------------ costs are those incurred in the formation of a business entity.
    Organization costs are those incurred in the formation of a business entity.
  9. For financial accounting purposes, nongovernmental entities must----------------- all start-up and organization costs as incurred.
    For financial accounting purposes, nongovernmental entities must expense all start-up and organization costs as incurred.
  10. Available-for-sale debt securities are measured at fair value, with unrealized holding gains and losses recognized in ---------.
    Available-for-sale debt securities are measured at fair value, with unrealized holding gains and losses recognized in OCI.
Author
Joens1313
ID
352860
Card Set
FAR Review 8-14
Description
FAR Review 8-14
Updated