Question 1

In relation to an asset revaluation surplus, an entity

Accepted Answer

A)  is not able to use this surplus for the payment of future dividends; 
B)  is able to use this surplus for the payment of future dividends; 
C)  is not able to transfer this surplus to any other reserve account; 
D)  can transfer the surplus to current period profit or loss when the asset is disposed of. 
A)  is not able to use this surplus for the payment of future dividends; 
B)  is able to use this surplus for the payment of future dividends; 
C)  is not able to transfer this surplus to any other reserve account; 
D)  can transfer the surplus to current period profit or loss when the asset is disposed of.

Question 2

Accounting for share buy-backs is prescribed by

Accepted Answer

A)  an IFRS; 
B)  an IFRIC interpretation; 
C)  an IAS; 
D)  generally accepted accounting practices. 
A)  an IFRS; 
B)  an IFRIC interpretation; 
C)  an IAS; 
D)  generally accepted accounting practices.

Question 3

Which of the following does not appear in the Statement of Changes in Equity?

Accepted Answer

A)  The non-controlling interest share of equity; 
B)  Dividends declared but not yet paid at year end; 
C)  Appropriations from retained earnings; 
D)  The payment of a bonus dividend from a reserve. 
A)  The non-controlling interest share of equity; 
B)  Dividends declared but not yet paid at year end; 
C)  Appropriations from retained earnings; 
D)  The payment of a bonus dividend from a reserve.

Question 4

If the balance in a forfeited shares account is refundable to the owners of those shares, then the forfeited shares account is classified as a component of:

Accepted Answer

A)  income; 
B)  liabilities; 
C)  equity; 
D)  expense. 
A)  income; 
B)  liabilities; 
C)  equity; 
D)  expense.

Question 5

In relation to share capital, IAS 1 does not require disclosure in the financial report of:

Accepted Answer

A)  the number of shares on issue at the end of the year; 
B)  the amount of any over or under subscription of new share issues during the year; 
C)  restrictions on dividends payable to certain classes of shareholders; 
D)  the total dollar value of share capital at the end of the year. 
A)  the number of shares on issue at the end of the year; 
B)  the amount of any over or under subscription of new share issues during the year; 
C)  restrictions on dividends payable to certain classes of shareholders; 
D)  the total dollar value of share capital at the end of the year.

Question 6

Which of the following is not a reason that companies may undertake a share buy-back?

Accepted Answer

A)  as a defence against a hostile takeover; 
B)  to manage the capital structure; 
C)  to increase the worth per share of the remaining shares; 
D)  as a way to efficiently manage surplus funds. 
A)  as a defence against a hostile takeover; 
B)  to manage the capital structure; 
C)  to increase the worth per share of the remaining shares; 
D)  as a way to efficiently manage surplus funds.

In relation to an asset revaluation surplus, an entity

Accounting for share buy-backs is prescribed by

Which of the following does not appear in the Statement of Changes in Equity?

If the balance in a forfeited shares account is refundable to the owners of those shares, then the forfeited shares account is classified as a component of:

In relation to share capital, IAS 1 does not require disclosure in the financial report of:

Which of the following is not a reason that companies may undertake a share buy-back?

The Iasb and Its Conceptual Framework

Fair Value Measurement

Revenue From Contracts With Customers

Provisions, Contingent Liabilities and Contingent Assets

Financial Instruments

Share-Based Payment

Inventories

Employee Benefits

Leases

Impairment of Assets

Financial Statement Presentation

Statement of Cash Flows

Operating Segments

Other Key Notes Disclosures

Consolidation: Controlled Entities

Consolidation: Wholly Owned Subsidiaries

Consolidation: Intragroup Transactions

Translation of the Financial Statements of Foreign Entities

Agriculture

Associates and Joint Ventures

Joint Arrangements

Revenue From Contracts With Customers

Financial Instruments

Financial Instruments

Share-Based Payment

Exploration for and Evaluation of Mineral Resources

Filters

Exam 2: Owners Equity: Share Capital and Reserves

In relation to an asset revaluation surplus, an entity

Accounting for share buy-backs is prescribed by

Which of the following does not appear in the Statement of Changes in Equity?

If the balance in a forfeited shares account is refundable to the owners of those shares, then the forfeited shares account is classified as a component of:

In relation to share capital, IAS 1 does not require disclosure in the financial report of:

Which of the following is not a reason that companies may undertake a share buy-back?

The Iasb and Its Conceptual Framework

Fair Value Measurement

Revenue From Contracts With Customers

Provisions, Contingent Liabilities and Contingent Assets

Financial Instruments

Share-Based Payment

Inventories

Employee Benefits

Leases

Impairment of Assets

Financial Statement Presentation

Statement of Cash Flows

Operating Segments

Other Key Notes Disclosures

Consolidation: Controlled Entities

Consolidation: Wholly Owned Subsidiaries

Consolidation: Intragroup Transactions

Translation of the Financial Statements of Foreign Entities

Agriculture

Associates and Joint Ventures

Joint Arrangements

Revenue From Contracts With Customers

Financial Instruments

Financial Instruments

Share-Based Payment

Exploration for and Evaluation of Mineral Resources

Filters