題目

On 1 April 20X7 Possum Co acquired 60% of the share capital of Koala Co for $120,000. During the year Possum Co sold

goods to Koala Co for $30,000, including a profit margin of 25%. 40% of these goods were still in inventory at the year end.

The following extract was taken from the financial statements of Possum Co and Koala Co at 31 March 20X8.

????????????????????????????????????????? Possum Co $'000?????????????? Koala Co

Revenue?????????????????????????????? ?750???????????????????????????????? $'000 400

Cost of sales??????????????????????? (420)???????????????????????????????? (100)

Gross profit????????????????????????? ?? 30??????????????????????????????????? 300

What is the consolidated gross profit of the Possum group at 31 March 20X8?

A

$627,600

B

$633,000

C

$622,500

D

$627,000

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Chapter23Introductiontoconsolidatedfinancialstatements

????????????????????????????????????????????????????????????? ?$’000

Unrealised profit (30,000 x 25% x 40%)?3

Gross profit (330 + 300 - 3)????????????????? ?627

多做幾道

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

?The accruals concept

C

The going concern concept

D

?The business entity concept

Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal

use?

A

The fair presentation concept

B

The accruals concept

C

?The going concern concept

D

The business entity concept

According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful

representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error

A

1?and?2

B

2?and?3

C

?1?and?4

D

3?and4

Which of the following accounting concepts means that similar items should receive a similar accounting treatment?

A

Going concern

B

Accruals

C

Matching

D

Consistency

Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy

Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for

Financial Reporting?

A

1 and 2 only

B

2 and 4 only

C

3 and 4 only

D

1 and 3 only

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