ACCT 564 Midterm + Final Exam 2023 Business Finance
2023 ACCT 564 International Accounting Multinational Enterprises DeVry Keller Recently Taken ACCT 564 Midterm
ACCT 564 International Accounting & Multinational Enterprises
(DeVry Keller – Recently Taken)
ACCT 564 Midterm
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1.
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Question :
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(TCO 1) Which of the following is a reason for a company to make a foreign direct investment?
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2.
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Question :
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(TCO 1) Which of the following is NOT a problem caused by accounting diversity?
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3.
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(TCO 1) Which financial statement is provided by virtually all corporations worldwide?
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4.
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(TCO 2) Which of the following are differences between IFRS and U.S. GAAP?
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5.
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Question :
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(TCO 2) Which of the following items should be included in the cost of property, plant, and equipment under IAS 16?
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6.
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Question :
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(TCO 2) What conditions must be met for revenue from the sale of goods to be recognized under IAS 18?
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7.
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Question :
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(TCO 2) Which of the following is NOT a share-based payment transaction under IFRS 2?
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8.
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(TCO 2) Which of the following inventory valuation methods commonly used in the United States is NOT allowed under IAS 2 (Inventories)?
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9.
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(TCO 3) Which of the following is true with regards to IAS 12, Income Taxes?
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10.
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Question:
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(TCO 3) What does the structure of the Codification Database include?
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1.
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Question :
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(TCO 1) How does religion influence financial reporting?
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2.
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(TCO 1) Describe how terminology in financial statements differs across countries.
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3.
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(TCO 2) Define harmonization and discuss its significance to international financial reporting.
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4.
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(TCO 2) Discuss the arguments against international convergence of financial reporting standards.
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5.
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(TCO 3) What is the difference between harmonization and convergence of accounting standards?
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1.
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(TCO 1) One of the reasons for accounting diversity is inflation. Define inflation and discuss how inflation contributes to accounting diversity.
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2.
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Question :
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(TCO 2) What is a principles-based accounting system? Describe how it differs from a rules-based accounting system. Which one do you think results in the more accurate financial statements?
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ACCT 564 Final Exam
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Points Received:
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200 / 200 (100%)
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Question Type:
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# Of Questions:
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# Correct:
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Short
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3
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N/A
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Essay
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4
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N/A
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Question 1.
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(TCO 1) What do you think is the most important event in the history of international accounting standards?
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Question 2.
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Question :
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(TCO 2) What is the difference between a rules-based accounting standard and a principles-based accounting standard?
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Question 3.
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(TCO 3) Why was the FASB Codification Project initiated?
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Question 4.
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(TCO 4) How do you hedge foreign exchange risk? What is the risk in hedging this risk?
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Question 5.
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(TCO 5) Why is it difficult to analyze foreign financial statements? Describe one of the potential problems in analyzing foreign financial statements.
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Question 6.
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(TCO 6) What factors are considered in the treatment of foreign source income? Which factor do you think is the most important?
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Question 7.
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Question :
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(TCO 7) Describe three transfer pricing methods. Why is it important to accurately determine the transfer price for goods and services?
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