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英文会計検定 1級

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The periodic increase in an ARO liability due to the passage of time is called:

Accretion expense is the "interest" component that increases the ARO liability to its future value …

2026年5月18日

Under the “LIFO” method, which costs are assigned to the ending inventory?

LIFO assumes the last items in are the first out, leaving the oldest costs in the ending inventory.

2026年5月18日

Which of the following is NOT a characteristic of a “Property, Plant, and Equipment” asset?

Assets held for resale are classified as inventory, not as property, plant, and equipment.

2026年5月18日

Which of the following is a required component of a full set of financial statements?

Under US GAAP, a statement of comprehensive income (or a combined income statement) is a mandatory …

2026年5月18日

Which of the following is an example of a “Level 3” input?

Level 3 inputs are unobservable and reflect the entity’s own assumptions about the price of an asse…

2026年5月18日

Under ASC 606, “Control” of an asset refers to:

Control is defined as the ability to direct the use of, and obtain substantially all remaining bene…

2026年5月18日

Under the “Voting Interest Model,” control is generally presumed at what percentage?

The voting interest model defines control as holding a majority (over 50%) of the outstanding votin…

2026年5月18日

What is the “Notional Amount” of a derivative?

The notional amount is the number of shares, gallons, bushels, etc., upon which the contract is bas…

2026年5月18日

When an investor loses “Significant Influence” over an investee, they should:

Once significant influence is lost, the investor accounts for the investment under ASC 321 (fair va…

2026年5月18日

Which of the following is reported as a “Reclassification Adjustment”?

Reclassification adjustments avoid double-counting by moving items from AOCI to net income upon rea…

2026年5月18日