题目内容

Under current cost accounting, goods sold are charged to profit or loss at:

A. Historical cost
B. Replacement cost
C. Net realisable value
D. Economic value

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An aircraft requires a planned overhaul each year at a cost of $5,000 every three years. This is a condition of being allowed to fly. How should the cost of the overhaul be treated in the financial statements? Select the correct option from those stated here:

Accrued for over the year and charged to maintenance expenses
B. Provided for in advance and charged to maintenance expenses
Capitalised and depreciated over the period to the next overhaul
D. Charged to profit or loss when the expenditure takes place

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Auckland Co purchased a machine for $60,000 on 1 January 20X7 and assigned it a useful life of 15 years. On 31 March 20X9 it was revalued to $64,000 with no change in useful life.What will be depreciation charge in relation to this machine in the financial statements of Auckland Co for the year ending 31 December 20X9?

A. $4,765
B. $4,700
C. $4,600
D. $4,665

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Wetherby Co purchased a machine on 1 July 20X7 for $500,000. It is being depreciated on a straight-line basis over its expected life often years. Residual value is estimated at $20,000. On 1 January 20X8, following a change in legislation, Wetherby Co fitted a safety guard to the machine. The safety guard cost $25,000 and has a useful life of five years with no residual value.What amount be charged to profit or loss for the year ended 31 March 20X8 in respect of depreciation on this machine?

A. $37,500
B. $37,250
C. $36,250
D. $35,000

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Which of the following would be recognised as an investment property under IAS 40 in the consolidated financial statements of Build Co?

A property intended for sale in the ordinary course of business
B. A property being constructed for a customer
C. A property held by Build Co as a right-of-use asset and leased out under a six-month lease
D. A property owned by Build Co and leased out to a subsidiary

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Under current cost accounting, goods sold are charged to profit or loss at:

A. Historical cost B. Replacement cost C. Net realisable value D. Economic value

An aircraft requires a planned overhaul each year at a cost of $5,000 every three years. This is a condition of being allowed to fly. How should the cost of the overhaul be treated in the financial statements? Select the correct option from those stated here:

Which of the following would be recognised as an investment property under IAS 40 in the consolidated financial statements of Build Co?

A. Historical cost
B. Replacement cost
C. Net realisable value
D. Economic value