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    ACTG6497 - Midterm Quiz 1 - Attempt Review

    Uploaded by

    Kinglaw Pilande
    The document summarizes a student's attempt at a midterm quiz on financial accounting that consisted of 10 multiple choice questions. Based on the review, the student answered 8 questions correctly, received marks of 8 out of 10, and an overall grade of 80% for the quiz. The summary provides the high level information that the document reviewed a student's midterm quiz attempt in financial accounting consisting of 10 questions, they answered 8 correctly for a score of 8/10 and an 80% grade.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    ACTG6497 - Midterm Quiz 1 - Attempt Review

    Uploaded by

    Kinglaw Pilande
    38 views4 pages
    The document summarizes a student's attempt at a midterm quiz on financial accounting that consisted of 10 multiple choice questions. Based on the review, the student answered 8 questions correctly, received marks of 8 out of 10, and an overall grade of 80% for the quiz. The summary provides the high level information that the document reviewed a student's midterm quiz attempt in financial accounting consisting of 10 questions, they answered 8 correctly for a score of 8/10 and an 80% grade.

    Original Description:

    Midterm Quiz 1_ Attempt Review

    Original Title

    ACTG6497 -Midterm Quiz 1_ Attempt Review

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    © © All Rights Reserved

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    The document summarizes a student's attempt at a midterm quiz on financial accounting that consisted of 10 multiple choice questions. Based on the review, the student answered 8 questions correctly, received marks of 8 out of 10, and an overall grade of 80% for the quiz. The summary provides the high level information that the document reviewed a student's midterm quiz attempt in financial accounting consisting of 10 questions, they answered 8 correctly for a score of 8/10 and an 80% grade.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    38 views4 pages

    ACTG6497 - Midterm Quiz 1 - Attempt Review

    Uploaded by

    Kinglaw Pilande
    The document summarizes a student's attempt at a midterm quiz on financial accounting that consisted of 10 multiple choice questions. Based on the review, the student answered 8 questions correctly, received marks of 8 out of 10, and an overall grade of 80% for the quiz. The summary provides the high level information that the document reviewed a student's midterm quiz attempt in financial accounting consisting of 10 questions, they answered 8 correctly for a score of 8/10 and an 80% grade.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    10/10/2022, 22:16 Midterm Quiz 1: Attempt review

    Started on Monday, 10 October 2022, 8:55 PM


    State Finished
    Completed on Monday, 10 October 2022, 9:13 PM
    Time taken 18 mins 1 sec
    Marks 8.00/10.00
    Grade 80.00 out of 100.00

    Question 1

    Correct

    Mark 1.00 out of 1.00

    When an entity reclassification a financial asset from amortized cost to fair value through profit or loss, the fair value is determined at
    reclassification date.

    Select one:
    a. False
    b. True

    Question 2
    Correct

    Mark 1.00 out of 1.00

    Transaction costs directly attributable to the issuance of shares include following, except

    Select one:
    a. Stock listing fee
    b. Documentary stamp tax and other percentage tax
    c. Underwriting fee
    d. SEC registration fee for new shares

    Question 3
    Correct

    Mark 1.00 out of 1.00

    Bonds for which the owners' names are not registered with the issuing corporation are called

    Select one:
    a. Serial bonds
    b. Bearer Bonds
    c. All of the chocies
    d. Term bonds

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    10/10/2022, 22:16 Midterm Quiz 1: Attempt review

    Question 4

    Incorrect

    Mark 0.00 out of 1.00

    Bonds which give the bondholders the right to exchange their bonds for share capital of the issuing entity at any time prior to maturity.

    Select one:
    a. Callable bonds
    b. Serial bonds 
    c. Convertible bonds
    d. Bearer Bonds

    Question 5

    Correct

    Mark 1.00 out of 1.00

    Under PFRS 9, all investments in equity must be measured at fair value.

    Select one:
    a. True
    b. False

    Question 6
    Correct

    Mark 1.00 out of 1.00

    An early extinguishment of bonds payable, which were originally issued at a premium, is made by purchase of the bonds between interest
    dates. At the time of reacquisition

    Select one:
    a. interest must be accrued from the last interest date to the purchase date
    b. the premium must be amortized up to the purchase date
    c. any costs of issuing the bonds must be amortized up to the purchase date
    d. all of these

    Question 7
    Correct

    Mark 1.00 out of 1.00

    Stock dividends affect the total cost of the investment

    Select one:
    a. True
    b. False

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    10/10/2022, 22:16 Midterm Quiz 1: Attempt review

    Question 8

    Incorrect

    Mark 0.00 out of 1.00

    Which of the following statements is true for measuring an asset at fair value?

    Select one:
    a. The fair value is based upon an entry price to purchase the asset
    b. The price should be adjusted for transportation costs to transport the asset to its principal market
    c. The price of the asset should be adjusted for transaction costs 
    d. The fair value of the asset should be adjusted for costs to sell

    Question 9

    Correct

    Mark 1.00 out of 1.00

    It is defined as a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing
    information on an ongoing basis

    Select one:
    a. Stock market
    b. Global market
    c. Active market
    d. Principal market

    Question 10
    Correct

    Mark 1.00 out of 1.00

    A secured bond would require

    Select one:
    a. a claim on specific assets in the event of default
    b. a plan for paying off the bond at maturity
    c. no restrictive covenants
    d. an independent trustee

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    10/10/2022, 22:16 Midterm Quiz 1: Attempt review

    trimestral.amaesonline.com/2213A/mod/quiz/review.php?attempt=141262&cmid=47811 4/4

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