ST AKM 1 KP B

The primary users of general purpose financial reports are:

• Investors and Lenders

• 
  Management and Government

• Employees and Customers

• 
  Management and Creditors

Lulu Co. report Rp 89 million for sales when it only had Rp 50 million of actual sales. Which is the qualities of useful information that Lulu Co. have violated?

• Comparability

• Faithful Representation

• Relevance

• Consistency

Company B rent the building of Company A from April 1 to July 1. Company A receive the payment for rent on March 31, When will company A recognize its full revenue?

• March 31

• July 1

• April 1

• No answer is correct

Company B rent the building of Company A from April 1 to July 1. Company A receive the payment for rent on March 31, What will company A record on March 31? Which assumption does this relate to?

• Unearned revenue (db) Rent Revenue (cr); Revenue Recognition

• 
  Cash (db) Rent revenue (cr); Revenue Recognition

• Rent expense(db) Cash (cr); Expense recognition

• Cash (db) Unearned revenue (cr); Revenue recognition

On January 1 a company have the supplies for $80, at the end of the period the supplies on hand amounted to $30. If the company follows the expense recognition assumption, what should be expensed by the company? Why?

• $80, the supplies should be expensed when the company first bought the supplies on January 1

• $50, the company should expense the supplies at the end of the period according to the usage of supplies company

• 
  
  $30, the company should expense the supplies at the end of the period

• The company should not make any journal entry

On March 1, insurance for a period of 1 year was paid (recorded as an expense) amounting to Rp 18,000,000, the Adjusting Entry on December 31 was...

• Insurance Expense (Db); Prepaid Insurance (Cr) Rp 15.000.000

• Prepaid Insurance (Db); Insurance Expense (Cr) Rp 15.000.000

• Insurance Expense (Db); Prepaid Insurance (Cr) Rp 18.000.000

• 
  Prepaid Insurance (Db); Insurance Expense (Cr) Rp 18.000.000

A conceptual framework for financial reporting is..

• A set of items which make up an entity's financial statements

• 
  A set of regulations which govern financial reporting

• A set of principles which underpin financial reporting

• 
  A set of financial reporting standards

Jika perusahaan memilih untuk tidak menyajikan informasi yang tidak relevan dalam CALK, maka asumsi, prinsip, atau constraint apa yang terkait dengan kebijakan perusahaan tersebut?

• economic entity

• going concern

• cost

• full disclosure

The Conceptual Framework describes prudence as:

• 
  A bias towards understating assets or income and towards overstating liabilities or expenses

• 
  A preference towards the earlier recognition of expenses and liabilities than of income and assets

• 
  A form of accounting conservatism

• The exercise of caution when making judgements under conditions of uncertainty

Principles of Financial Reporting, is on ... level of Conceptual Framework

• 1

• 2

• 3

• None of the above