2 Which of the following are correct?1. The balance sheet value of inventory should be as close as possible to net realisable value.2. The valuation of finished goods inventory must include production overheads.3. Production overheads included in valuing inventory should be calculated by reference to the company’s normallevel of production during the period.4. In assessing net realisable value, inventory items must be considered separately, or in groups of similar items,not by taking the inventory value as a whole.A 1 and 2 onlyB 3 and 4 onlyC 1 and 3 onlyD 2, 3 and 4
2 Which of the following are correct?
1. The balance sheet value of inventory should be as close as possible to net realisable value.
2. The valuation of finished goods inventory must include production overheads.
3. Production overheads included in valuing inventory should be calculated by reference to the company’s normal
level of production during the period.
4. In assessing net realisable value, inventory items must be considered separately, or in groups of similar items,
not by taking the inventory value as a whole.
A 1 and 2 only
B 3 and 4 only
C 1 and 3 only
D 2, 3 and 4
相关考题：
During a period of falling prices, which of the following inventory methods generally results in the lowest balance sheet amount for inventory. ( ) A、average methodB、LIFO methodC、FIFO methodD、can not tell without more information
M company is a manufactory which produces toys．The budgeted production and sales of the company are both expected to be 200 units in the coming year，the budgemd selling price is$370 per unit．The following information mimes to the costs of producin9 200 toys：Per unit(＄)Total(＄)Direct material costsl 5030 000Direct labor costs801 6 000Variable production overheads501 0 000Variable selling and administration overheads306 000Fixed production overheads6 000Fixed selling and administration overheads3 000Requirement：A．Calculate the total contribution margin．B．Calculate the amounts of profit at the budgeted level of production．C．Calculate the break-even point in units and the margin of safety．D．If M company desires a profit of$4 800，calculate the number of units that it must produce and sell．
The term "inventory" indicates () A. merchandise held for sale in the normal course of businessB. materials in the process of production or held for productionC. suppliesD. both A and B
20 IAS 2 Inventories defines the extent to which overheads are included in the cost of inventories of finished goods.Which of the following statements about the IAS 2 requirements in this area are correct?1 Finished goods inventories may be valued on the basis of labour and materials cost only, without including overheads.2 Carriage inwards, but not carriage outwards, should be included in overheads when valuing inventories of finished goods.3 Factory management costs should be included in fixed overheads allocated to inventories of finished goods.A All three statements are correctB 1 and 2 onlyC 1 and 3 onlyD 2 and 3 only
10 Which of the following costs should be included in valuing inventories of finished goods held by a manufacturingcompany, according to IAS2 Inventories?1 Carriage inwards.2 Carriage outwards.3 Depreciation of factory plant.4 Accounts department costs relating to wages for production employees.A All four itemsB 2 and 3 onlyC 1, 3 and 4 onlyD 1 and 4 only
16 Which of the following statements about accounting concepts and conventions are correct?(1) The entity concept requires that a business is treated as being separate from its owners.(2) The use of historical cost accounting tends to understate assets and profit when prices are rising.(3) The prudence concept means that the lowest possible values should be applied to income and assets and thehighest possible values to expenses and liabilities.(4) The money measurement concept means that only assets capable of being reliably measured in monetary termscan be included in the balance sheet of a business.A 1 and 2B 2 and 3C 3 and 4D 1 and 4
20 Which of the following events occurring after the balance sheet date are classified as adjusting, if material?1 The sale of inventories valued at cost at the balance sheet date for a figure in excess of cost.2 A valuation of land and buildings providing evidence of an impairment in value at the year end.3 The issue of shares and loan notes.4 The insolvency of a customer with a balance outstanding at the year end.A 1 and 3B 2 and 4C 2 and 3D 1 and 4
22 Which of the following statements about limited liability companies’ accounting is/are correct?1 A revaluation reserve arises when a non-current asset is sold at a profit.2 The authorised share capital of a company is the maximum nominal value of shares and loan notes the companymay issue.3 The notes to the financial statements must contain details of all adjusting events as defined in IAS10 Events afterthe balance sheet date.A All three statementsB 1 and 2 onlyC 2 and 3 onlyD None of the statements
5 Which of the following events after the balance sheet date would normally qualify as adjusting events accordingto IAS 10 Events after the balance sheet date?1 The bankruptcy of a credit customer with a balance outstanding at the balance sheet date.2 A decline in the market value of investments.3 The declaration of an ordinary dividend.4 The determination of the cost of assets purchased before the balance sheet date.A 1, 3, and 4B 1 and 2 onlyC 2 and 3 onlyD 1 and 4 only
12 Which of the following statements are correct?(1) Contingent assets are included as assets in financial statements if it is probable that they will arise.(2) Contingent liabilities must be provided for in financial statements if it is probable that they will arise.(3) Details of all adjusting events after the balance sheet date must be given in notes to the financial statements.(4) Material non-adjusting events are disclosed by note in the financial statements.A 1 and 2B 2 and 4C 3 and 4D 1 and 3
17 Which of the following statements are correct?(1) All non-current assets must be depreciated.(2) If goodwill is revalued, the revaluation surplus appears in the statement of changes in equity.(3) If a tangible non-current asset is revalued, all tangible assets of the same class should be revalued.(4) In a company’s published balance sheet, tangible assets and intangible assets must be shown separately.A 1 and 2B 2 and 3C 3 and 4D 1 and 4
2 The draft financial statements of Rampion, a limited liability company, for the year ended 31 December 2005included the following figures:$Profit 684,000Closing inventory 116,800Trade receivables 248,000Allowance for receivables 10,000No adjustments have yet been made for the following matters:(1) The company’s inventory count was carried out on 3 January 2006 leading to the figure shown above. Salesbetween the close of business on 31 December 2005 and the inventory count totalled $36,000. There were nodeliveries from suppliers in that period. The company fixes selling prices to produce a 40% gross profit on sales.The $36,000 sales were included in the sales records in January 2006.(2) $10,000 of goods supplied on sale or return terms in December 2005 have been included as sales andreceivables. They had cost $6,000. On 10 January 2006 the customer returned the goods in good condition.(3) Goods included in inventory at cost $18,000 were sold in January 2006 for $13,500. Selling expenses were$500.(4) $8,000 of trade receivables are to be written off.(5) The allowance for receivables is to be adjusted to the equivalent of 5% of the trade receivables after allowing forthe above matters, based on past experience.Required:(a) Prepare a statement showing the effect of the adjustments on the company’s net profit for the year ended31 December 2005. (5 marks)
Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error.() A.net income is understatedB.net income is overstatedC.merchandise inventory reported on the balance sheet is overstatedD.cost of merchandise sold is understated
During a period of falling prices, which of the following inventory s generally results in the lowest balance sheet amount for inventory. () A.can not tell without more inationB.averageC.LIFOD.FIFO
Which of the following is NOT inventory()? A. accounts receivableB. raw materialsC. work-in-progress goods
A balance sheet is simply the enumeration of the various assets of a business on one side of a ledger and the enumeration of various liabilities and (61) accounts on the other side. The two sides must be equal, or balance. Only one further point should be (62) : A balance sheet refers to a single point in time, for example, the close of business on December 31. Taken by itself, a balance sheet does not show (63) over time. It is what economists call a stock concept, not a (64) concept. That is, the balance sheet shows the stock of goods a firm has on hand at any particular instant and does not show the flow of goods through the firm over time. For this reason, a balance sheet does not show business (65) , which are a flow.(46)A．profitB．capitalC．incomeD．cash
You are the administrator of a SQL Server 2000 computer. You have two new hard disks on which you will create a database named inventory. You want to insert, update, and delete data as quickly as possible.Which two actions should you take? (Each correct answer presents parts of the solution. Choose two)A. Configure the hard disks as two mirrored NTFS volumes.B. Configure the hard disks as one mirrored NTFS volumes.C. Configure the hard disks as two independent NTFS volumes.D. Configure the hard disks as one extended NTFS volume.E. Place inventory_data.mdf on the first volume and inventory_log.ldf on the second volume.F. Place inventory_data.mdf on the first volume and inventory_data2.ndf and inventory_log.ldf on the second volume.G. Place inventory_data.mdf and inventory_log.ldf on the same volume.
M company is a manufactory which produces toys.The budgeted production and sales of the company are both expected to be 200 units in the coming year, the budgeted selling price is $ 370 per unit. The following information mimes to the costs of producing 200 toys:Per unit ($) Total ($)Direct material costs 1 50 30 000Direct labor costs 80 1 6 000Variable production overheads 50 10 000Variable selling and administration overheads 30 6 000Fixed production overheads 6 000Fixed selling and administration overheads 3 000Requirement：A.Calculate the total contribution margin.B.Calculate the amounts of profit at the budgeted level of production.C.Calculate the break - even point in units and the margin of safety.D.If M company desires a profit of$4 800, calculate the number of units that it must produce and sell.
You want to create a temporary table named OLD_INVENTORY in the OLD_INVENTORY database on the master server. This table is not to be replicated to the slave server. Which two changes would ensure that the temporary table does not propagate to the slave?（）A、Use the – replicate-do-db, — replicate-do-table, or – replicate-wild-do-table option with the value equal to OLD_INVENTORYB、Change the binlog_format option to ROW and restart mysqld before you create the OLD_INVENTORY tableC、Stop SQL_THREAD on the slave until you have finished using the OLD_INVENTORY temporary tableD、Set binlog_format=MIXED with the – replicate-ignore-temp-table optionE、Use the – replicate-ignore-table option with the value equal to OLD_INENTORY.OLD_INVENTORY and restart mysqld before creating the temporary table
（） is an inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process， thereby reducing inventory costs.A、Enterprise Resource PlanningB、Efficient Consumer ResponseC、Just in TimeD、Quick Response
Which of the following procedure should be performed prior to delivery and generally involves running a suite of operations so as to verify that the solution is applicable for production?（）A、Security CheckB、Acceptance TestingC、Project Close OutD、Systems Integration
A technician replacing a CRT monitor and the battery inside of a UPS wishes to dispose of thereplaced hardware. Which of the following should the technician do to BEST ensure properdisposal?（）A、Store equipment in IT inventory.B、Donate to a local nonprofit organization.C、Follow local government regulations for disposal.D、Affix MSDS sheet to items for the waste management company.
Can an item balance ever be allowed to be negative？ （）A、 neverB、 alwaysC、 depends on which itemD、 depends on if it is allowed in the Inventory Default settings
Which inventory management feature of WebSphere Commerce Accelerator should a user with the Buyer （sell-side） role use to record inventory that has been ordered from a vendor， so that backorders can be allocated against this inventory？（）A、Ad HocB、ExpectedC、FutureD、OrderedE、Planned
单选题Which of the following statements concerning cargo is correct?（）ACargoes are any type of goods transported by any type of shipsBCargoes are goods transported in bulkCCargoes usually include goods transported in bulk and in containersDCargoes are usually packaged in containers
问答题Practice 6 You should spend about 40 minutes on this task. Write about the following topic: An increase in production of consumer goods results in damage of the natural environment, what are the causes and possible solutions? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at least 250 words.
单选题Which inventory management feature of WebSphere Commerce Accelerator should a user with the Buyer （sell-side） role use to record inventory that has been ordered from a vendor， so that backorders can be allocated against this inventory？（）AAd HocBExpectedCFutureDOrderedEPlanned