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英文会計検定 1級

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If an exchange “lacks commercial substance,” a loss is:

Under the principle of conservatism, losses are always recognized immediately, even if commercial s…

2026年5月18日

What is a “Carryforward” in tax accounting?

A carryforward (NOL or tax credit) allows a company to use current tax attributes to offset future …

2026年5月18日

Which of the following costs is capitalized for an “internally developed” patent?

While R&D is expensed, the direct legal and registration costs to obtain a patent are capitalized.

2026年5月18日

Which method is most likely to result in a “LIFO Reserve” disclosure?

Companies using LIFO must often disclose the difference between LIFO and FIFO (the LIFO reserve).

2026年5月18日

The “Functional Currency” is defined as:

The functional currency is the currency of the environment in which the entity primarily generates …

2026年5月18日

If a stock option expires unexercised, what is the effect on previously recognized expense?

Compensation expense recognized for service already rendered is not reversed if the options expire …

2026年5月18日

How is “Intercompany Interest” handled in consolidated financial statements?

Intercompany interest income and expense must be fully eliminated to prevent double-counting of int…

2026年5月18日

Under ASC 470, a “Troubled Debt Restructuring” occurs when:

TDR involves a creditor granting a concession they would not otherwise consider due to the debtor's…

2026年5月18日

Which of the following must be disclosed for each reportable segment?

Segment profit or loss, as measured by the chief operating decision maker, is a mandatory disclosur…

2026年5月18日

A “Trading” debt security is classified as:

Trading securities are held for short-term profit and are therefore classified as current assets.

2026年5月18日