题目内容

Which of the following items is a change of accounting policy under IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors？

A. Classifying commission earned as revenue in the statement of profit or loss, having previously classified it as other operating income
B. Switching to purchasing plant using leases from a previous policy of purchasing plant for cash
Changing the value of a subsidiary's inventory in line with the group policy for inventory valuation when preparing the consolidated financial statements
D. Revising the remaining useful life of a depreciable asset

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For an asset to be classified as 'held for sale' under IFRS 5 Non-current Assets Held for Sale and Discontinued Operations its sale must be 'highly probable'. Which of the following is NOT a requirement if the sale is to be regarded as highly probable?

A. Management must be committed to a plan to sell the asset.
B. A buyer must have been located for the asset.
C. The asset must be marketed at a reasonable price.
D. The sale should be expected to take place within one year from the date of classification.

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At what amount should an asset classified as 'held for sale' be measured?

A. Lower of carrying amount and fair value less costs of disposal
B. Lower of carrying amount and value in use
C. Higher of value in use and fair value less costs of disposal
D. Higher of carrying amount and recoverable amount

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As at 30 September 20X3 Dune Co's property in its statement of financial position was: Property at cost (useful life 15 years) $45 million Accumulated depreciation $6 million On 1 April 20X4 Dune Co decided to sell the property. The property is being marketed by a property agent at a price of $42 million, which was considered a reasonably achievable price at that date. The expected costs to sell have been agreed at $1 million. Recent market transactions suggest that actual selling prices achieved for this type of property in the current market conditions are 10% less than the price at which they are marketed. At 30 September 20X4 the property has not been sold. At what amount should the property be reported in Dune Co's statement of financial position as at 30 September 20X4?

A. $36 million
B. $37.5 million
C. $36.8 million
D. $42 million

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Ullington Co's trial balance shows a debit balance of $2.1 million brought forward on current tax and a credit balance of $5.4 million on deferred tax. The tax charge for the current year is estimated at $16.2 million and the carrying amounts of net assets are $13 million in excess of their tax base. The income tax rate is 30%.What amount will be shown as income tax in the statement of profit or loss of Ullington Co for the year?

A. $15.6million
B. $12.6 million
C. $16.8 million
D. $18.3million

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