English

ہوم / مشق / FR B Financial instruments and leasing / ورک شیٹ

آن لائن مشق کریں

FR B Financial instruments and leasing

Written by Fahad Mirza (ACCA)

اے سی سی اے · مالیاتی رپورٹنگ · 9 سوالات

نام: ____________________   تاریخ: ____________

  1. A redeemable preference share is normally classified as:

    • A A financial liability
    • B Revenue
    • C A contingent asset
    • D Equity

  2. Which measurement applies to a financial liability held for trading?

    • A Cost less impairment
    • B Fair value through other comprehensive income
    • C Amortised cost
    • D Fair value through profit or loss

  3. Debt is issued for net proceeds of $95,000 with an effective rate of 6 percent and a coupon of $4,000. What is the finance cost for year 1?

    • A $4,000
    • B $1,700
    • C $5,000
    • D $5,700

  4. Debt is issued for net proceeds of $95,000 with an effective rate of 6 percent and a coupon of $4,000. What is the carrying amount at the end of year 1?

    • A $99,000
    • B $95,000
    • C $100,000
    • D $96,700

  5. A lessee recognises at the start of a lease:

    • A A right-of-use asset and a lease liability
    • B Only an expense
    • C Nothing
    • D Only a liability

  6. A 3-year lease has annual payments in arrears of $10,000 and a discount rate of 8 percent. What is the lease liability at the start, to the nearest dollar?

    • A $30,000
    • B $27,000
    • C $25,771
    • D $24,000

  7. A 3-year lease has a liability at the start of $25,771 and a discount rate of 8 percent. What is the interest charge in year 1, to the nearest dollar?

    • A $2,577
    • B $800
    • C $2,000
    • D $2,062

  8. Which leases can a lessee exempt from recognition on the statement of financial position?

    • A All leases of land
    • B Leases of motor vehicles
    • C All leases with a related party
    • D Leases of 12 months or less, and leases of low-value assets

  9. Receivables are factored with recourse, so the entity keeps the risk of non-payment. How are they treated?

    • A They are shown as revenue
    • B They are derecognised
    • C They remain on the statement of financial position with a liability for the advance
    • D They are written off

جوابی کلید

1. A, 2. D, 3. D, 4. D, 5. A, 6. C, 7. D, 8. D, 9. C

  1. The obligation to redeem makes it a liability, and its dividends are finance costs.

  2. Most other liabilities are at amortised cost.

  3. 6% x 95,000 = 5,700.

  4. 95,000 + 5,700 - 4,000 = 96,700.

  5. This applies to leases not covered by the exemptions.

  6. 10,000 x annuity factor 2.5771 = 25,771.

  7. 8% x 25,771 = 2,062.

  8. The payments for these leases are expensed on a straight line basis.

  9. Derecognition depends on the transfer of risks and rewards.