新用户扫码下载
扫码下载APP
及时接收最新考试资讯及
备考信息
美国CPA模拟试题：汇率（二）
When remeasuring foreign currency financial statements into the functional currency, which of the following items would be remeasured using historical exchange rates?
a. Marketable equity securities reported at market values.
b. Inventories carried at cost.
c. Accrued liabilities.
d. Bonds payable.
Explanation
Choice "b" is correct, inventories carried at cost.
Rule: Balance sheet accounts are generally included at the current exchange rate, except for:
1. A self contained subsidiary with a 3 year inflation rate of 100% or more (hyperinflationary economy).
2. A foreign entity which does not maintain its accounts in a foreign functional currency.
In these circumstances, the remeasurement method is used and the historical rates should be used only for those balance sheet accounts carried at "cost" (most non-monetary items). Otherwise follow the general rule and use the "current" rate.
Choices "a", "d", and "c" are incorrect. Bonds payable and accrued liabilities are "monetary" items. Marketable equity securities are non-monetary items, but are reported at fair value. Because they are reported at fair value, they should be remeasured using the current exchange rate.
关注正保会计网校“美国CPA考试”官方微信，相关动态弹指间了解，只拿手机便知考试动态。还等什么，扫一扫微信码加入网校大家庭吧！
（微信号：aicpachinaacc）
【我要纠错】 责任编辑：小敏
上一篇：美国CPA模拟试题：汇率（三）
下一篇：美国CPA考试考前注意事项
新用户扫码下载
京公网安备 11010802044457号