ACT4143_Class

ACT4143_Class

8th Grade

15 Qs

quiz-placeholder

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ACT4143_Class

ACT4143_Class

Assessment

Quiz

Social Studies

8th Grade

Hard

Created by

NORAKMA ABD MAJID

Used 3+ times

FREE Resource

15 questions

Show all answers

1.

REORDER QUESTION

5 mins • 2 pts

Organize these procedures of preparing the consolidated financial statements:

Prepare Consolidated Financial Statements

  1. Adjust Fair Value of Assets at Acquisition Date

Eliminate the COI and Recognize Goodwill

Allocate Non-controlling Interest, Profit, and OCI

  1. Calculate Cost of Investment (COI)

2.

MULTIPLE CHOICE QUESTION

5 mins • 2 pts

Which of the following is eliminated during the consolidation process?

Non-controlling interest

Intercompany transactions

Parent company’s equity

Goodwill

3.

MULTIPLE CHOICE QUESTION

5 mins • 2 pts

During consolidation, how are intercompany transactions typically treated?

They are fully recognized

They are eliminated

They are disclosed in notes

They are taxed separately

4.

DRAG AND DROP QUESTION

5 mins • 2 pts

  1. ParentCo, ​ (a)   pays a certain amount to buy shares in SubCo, ​ (b)   . This is the cost of the investment which is amounted to ​ (c)   .

Purple Bhd
Satin Bhd
RM12,000
RM10,000
Hilal Bhd
Solar Bhd
RM15,000

5.

DROPDOWN QUESTION

5 mins • 2 pts


  1. ​ (a)   owns freehold land and its been revalued to their current market values,​ (b)   at the acquisition date. By referring to note (i)​ , the value of freehold land at 31 Dec. 2023 is valued at ​​ (c)   . At the beginning of the current year, the value of land is stated at​ (d)  

Purple Bhd
RM6,000,000
RM8,000,000
Satin Bhd

6.

MATCH QUESTION

5 mins • 2 pts

The net assets of subsidiary's at the date of acquisition

RM14,000,000

Retained earnings

RM2,000,000

Ordinary share

RM2,000,000

Revaluation reserves

RM10,000,000

Net assets at DOA

7.

FILL IN THE BLANK QUESTION

5 mins • 2 pts

Goodwill on consolidation

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