江西财经大学高级财务会计国际学院题库chapter

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1、个人收集整理勿做商业用途AdvancedAccounting,11e(Beams/Anthony/Bettinghaus/Smith)Chapter14ForeignCurrencyFinancialStatementsMultipleChoiceQuestions1)AU.S.firmhasaBelgiansubsidiarythatusestheBritishpoundasitsfunctionalcurrency.AccordingtoGAAP,theU.S.dollarfromBelgianunit'spointofviewwillbe文档来自于网络搜索A)itsonlyf

2、oreigncurrency.B)itslocalcurrency.C)itscurrentratemethodcurrency.D)itsreportingcurrency.Answer:DObjective:LO1Difficulty:Easy2)SelveyInc.isawholly-ownedsubsidiaryofParsfieldIncorporated,aU.S.firm.ThecountrywhereSelveyoperatesisdeterminedtohaveahighlyinflationaryeconomyaccordingtoGAAPdefinitions

3、.Therefore,forpurposesofpreparingconsolidatedfinancialstatements,thefunctionalcurrencyis文档来自于网络搜索A)itsreportingcurrency.B)itscurrentratemethodcurrency.C)theUSdollar.D)itslocalcurrency.Answer:CExplanation:C)Selveymustusethefunctionalcurrencyofthereportingentity.文档来自于网络搜索Objective:LO3Difficulty:

4、Easy3)Allofthefollowingfactorswouldbeusedtodefineaforeignentity'sfunctionalcurrency,except文档来自于网络搜索A)highvolumeofintercompanytransactions.B)expensesforforeignentityprimarilydrivenbylocalfactors.文档来自于网络搜索C)financingforforeignentitydenominatedinlocalcurrency.文档来自于网络搜索D)foreignentity'sstatusasalo

5、caltaxhavenfortransferpricingpurposes.文档来自于网络搜索Answer:DObjective:LO1Difficulty:Easy4)Theprimarygoalbehindconsolidatingfinancialstatementsofacontrolledsubsidiaryis文档来自于网络搜索A)assuringthatthesubsidiaryfinancialstatementsarethesameunderthetemporalmethodorthecurrentratemethod.文档来自于网络搜索B)assuringtha

6、ttheindividualnatureofthesubsidiaryentityisnotlostintheconsolidation.文档来自于网络搜索C)representingtheconversionofstatementsatthehistoricalexchangerate.文档来自于网络搜索D)representingthecompany'sunderlyingeconomiccondition.文档来自于网络搜索Answer:DObjective:LO2Difficulty:Easy个人收集整理勿做商业用途5)Pelmerhasaforeignsubsidiary

7、,SappCorporationofGermany,whosefunctionalcurrencyistheeuro.Sapp'sbooksaremaintainedineuros.OnDecember31,2011,SapphasanaccountreceivabledenominatedinBritishpounds.Whichoneofthefollowingstatementsistrue?文档来自于网络搜索A)Becauseallaccountsofthes