6373241
Descripción
Test por Mikee Sevilleno, actualizado hace más de 1 año
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Creado por Mikee Sevilleno
hace más de 7 años
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Pregunta 1
Pregunta
Bonds payable not designated at fair value through profit or loss shall be measured initially at
Respuesta
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Fair value
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Fair value plus bond issue costs
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Fair value minus bond issue costs
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Face amount
Pregunta 2
Pregunta
After initial recognition, bonds payable shall be measured at
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Amortized cost using the effective interest method.
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Fair value through profit or loss.
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Either amortized cost using the effective interest method or fair value through other comprehensive income.
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Either amortized cost using the effective interest method or fair value through profit or loss.
Pregunta 3
Pregunta
The "amortized cost" of bonds payable means
Respuesta
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Face amount plus premium on bonds payable
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Face amount minus discount on bonds payable
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Face amount minus bond issue cost
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Face amount plus premium on bonds payable, minus discount on bonds payable and minus bond issue cost
Pregunta 4
Pregunta
Which of the following statements is true about electing the fair value option for measuring bonds payable?
Respuesta
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The effective interest method of amortization must be used to calculate interest expense.
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Discount or premium is disclosed in the notes to financial statements.
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The fair value of the bond and the principal obligation value must be disclosed.
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If the fair value option is elected, it must be applied to all bonds.
Pregunta 5
Pregunta
Under the fair value option, bonds payable shall be measured initially at
Respuesta
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Fair value
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Fair value plus bond issue cost
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Fair value minus bond issue cost
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Face amount
Pregunta 6
Pregunta
Bonds that mature on a single date are called
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Term bonds
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Serial bonds
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Debenture bonds
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Callable bonds
Pregunta 7
Pregunta
Bonds issued with scheduled maturities at various dates are called
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Convertible bonds
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Term bonds
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Serial bonds
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Callable bonds
Pregunta 8
Pregunta
Costs incurred in connection with the issuance of ten-year bonds which sold at a slight premium should be
Respuesta
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Charged to retained earnings when the bonds are issued
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Expensed in the year in which incurred
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Capitalized as organization cost
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Reported as a deduction from bonds payable and amortized over the ten-year bond term
Pregunta 9
Pregunta
Unamortized debt discount should be reported as
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Direct deduction from the face amount of the debt
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Direct deduction from the present value of the debt
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Deferred charge
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Part of the issue cost
Pregunta 10
Pregunta
The issuer of a 10-year term bond sold at par three years ago with interest payable May 1 and November 1 each year, shall report at year-end
Respuesta
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Liability for accrued interest
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Addition to bonds payable
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Increase in deferred charges
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Contingent liability
Pregunta 11
Pregunta
When the interest payment dates of a bond are May 1 and November 1, and a bond issue is sold on June 1, the amount of cash received by the issuer will be
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Decreased by accrued interest from June 1 to November 1
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Decreased by accrued interest from May 1 to June 1
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Increased by accrued interest from June 1 to November 1
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Increased by accrued interest from May 1 to June 1
Pregunta 12
Pregunta
A bond issued on June 1 has interest payment dates of April 1 and October 1. Bond interest expense for the current year ended December 31 is for a period of
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Three months
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Four months
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Six months
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Seven months
Pregunta 13
Pregunta
How would the amortization of premium on bonds payable affect each of the following?
Carrying amount of bond ; Net Income
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Increase ; Decrease
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Increase ; Increase
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Decrease ; Decrease
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Decrease ; Increase
Pregunta 14
Pregunta
How would the amortization of discount on bonds payable affect each of the following?
Carrying amount of bond ; Net income
Respuesta
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Increase ; Decrease
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Increase ; Increase
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Decrease ; Decrease
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Decrease ; Increase
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