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1、财经网络教育领导品牌_高顿网校 AllRightsReserved版权所有 复制必究1AICPA考试FAR模拟资料四1.Whichof thefollowingstatementsis notrequiredof not-for-profitorganizations?a.Statementof financialpositionb.Statementof activitiesc.Statementof cashflowsd.Statementof retainedearnings【答案】d【解 析】Choice4 is correct.Thereis no retainedearningsr
2、eportedon a not-for-profitorganizationsfinancialstatements.Thecorrecttermis netassets.Choice1is incorrect.Astatementof financialpositionis requiredfornon-profitorganizationChoice2is incorrect.Astatementof activitiesis requiredfornon-profitorganizations.Choice3is incorrect.Astatementof cashflowsis re
3、quiredfornon-profitorganizations.2.Whichof followingis notadisclosurerequirementrelatedto risksanduncertaintiesunderU.S.GAAP?A,Disclosureof therelativeimportanceof eachbusinesswhenan entityoperatesmultiplebusiness.B,Astatementthatactualresultscoulddifferfromtheestimatesincludedin thefinancialstateme
4、nts.C,Estimatesof theeffectsof changesin significantestimates.D,Disclosureof vulnerabilitydueto allidentifiedconcentrations.【答案】d【解析】Choice4is correct.Identifiedconcentrationonlyneedto be disclosedif allthecriteriaaremet:1.Theconcentrationexistsat thefinancialstatementdate.2.Theconcentrationmakesthe
5、entityvulnerableto theriskof anear-termsevereimpact.3.It is leastreasonablypossiblethattheeventthatcouldcausesevereimpactoccurin thenear-term.Choice1is incorrect.Thisis adisclosurerequirement.Choice2is incorrect.Thisis adisclosurerequirement.Choice3is incorrect.Thisis adisclosurerequirement.财经网络教育领导
6、品牌_高顿网校 AllRightsReserved版权所有 复制必究23.In accountingforcertaininvestmentsin equityanddebtsecuritiesheldby non-profitorganizations(excludinginvestmentsaccountedforby theequitymethod,investmentsinconsolidatedsubsidiaries,investmentswhosefairvaluesarenotreadilydeterminable,andinvestmentsin itemsnotviewed
7、as securitiessuchas trusts,realestate,andjointventures):A.Threecategoriesof investmentarefoundas is thecaseforcommercialenterprises(tradingsecurities,availableforsalesecurities,andheldto maturitysecurities)B.Allapplicableinvestmentsaremeasuredat fairvalueandgainsandlossesoninvestmentwillbe includedi
8、n thestatementof activitiesas increasesor decreasesinunrestricted,temporarilyrestricted,or permanentlyrestrictednetassets.C.Allapplicableinvestmentsaremeasuredat fairvalueandgainsandlossesoninvestmentwillbe includedin thestatementof activitiesas increasesor decreasesinunrestrictednetassets.D.Allappl
9、icableinvestmentsaremeasuredat originalhistoricalcostif purchased,or at fairvalueon thedateof donationif donated.【答案】b【解析】Choice2is correct.Investmentsarerecordedandmeasuredat FMVandgainsandlosseswillbe allocatedto unrestricted,temporarilyrestricted,andpermanentlyrestricted.Choice1is incorrect.Inves
10、tmentsfornon-profitorganizationsarenotclassifiedas securities,available-for-salesecurities,andheld-tomaturitysecurities.Withoutamechanismto recordcomprehensiveincome,commercialaccountingclassificationsdo notapplyto not-for-profitorganizations.Choice3is incorrect.Investmentsfornon-profitorganizations
11、aremeasuredat fairvalueandgainsandlossesareallocatedto unrestricted,temporarilyrestricted,andpermanentlyrestrictednetassets,notjustunrestricted.Choice4is incorrect.Investmentsfornon-profitorganizationsaremeasuredat fairvalueiffairvaluecanbe readilydetermined.4.In not-profithospitalaccounting,restric
12、tedfunds,bothpermanentandtemporary,are:A.Notavailableunlesstheboardof directorsremovestherestrictions.B.Restrictedas to useonlyforboard-designatedpurposes.C.Notavailableforcurrentoperatinguse;however,theincomegeneratedby thefundsisavailableforcurrentoperatinguse.财经网络教育领导品牌_高顿网校 AllRightsReserved版权所有
13、 复制必究3D.Restrictedto useby thedonor,grantor,or,othersourceof resources.【答案】d【解析】Choice4is correct.Restrictedfundsarerestrictedby thedonors,notby theBoardofDirectors.Choice1is incorrect.Restrictionsarefromoutsidedonors.thus,Boardof Directorscannotremovetherestrictions.Choice2is incorrect.Restrictedfu
14、ndsarefromoutsidedonorsandnottheBoardofDirectors.Choice3is incorrect.Restrictedfundsmaybeavailableforcurrentoperatingusedependingon thenatureof therestriction.5.LemonvilleTownshipissued$75,000of bondanticipationnotesat faceamountin thecurrentfiscalperiod.Theproceedswererecordedin thecapitalprojectsf
15、und.Thesenotesareduewithinoneyear.Lemonvilleintendsto repaythebondanticipationnoteswithabondissue.Lemonvillehastakenlegalstepsto refinancethenoteson along-termbasis.Underthesecircumstances,whataccountshouldbe creditedin thecapitalprojectsfund?a.Revenuescontrol.b.Otherfinancingsources.c.Bondanticipat
16、ionnotespayable.d.taxanticipationnotespayable.【答案】b【解析】Choice2is correct,Governmentalfunds(GRA5PP)usemodifiedaccrualaccountinganddonotrecordlong-termdebt;insteadtheycreditotherfinancingsources.Choice1is incorrect.Proceedsfromhoedanticipationnotesshouldnotbe consideredrevenuein acapitalprojectsfund,I
17、nstead,theyareconsideredotherfinancingsources,Choice3is incorrect.Governmentalfundsusemodifiedaccrualaccountinganddo notrecordlong-termdebtof anytype.Choice4is incorrect.Governmentalfundsusemodifiedaccrualaccountinganddo notrecordlong-termdebtof anytype.参与 AICPA考试的考生可按照复习计划有效进行，另外高顿网校官网考试辅导高清课程已经开通，还可索取 AICPA考试通关宝典，针对性地讲解、训练、答疑、模考，对学习过程进行全程跟踪、分析、指导，可以帮助考生全面提升备考效果。更多详情可登录高顿网校官网或关注高顿AICPA官方微信公众号gaodunaicpa财经网络教育领导品牌_高顿网校 AllRightsReserved版权所有 复制必究4进行咨询。