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英文会計検定 1級

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Which method results in the same ending inventory and COGS for both perpetual and periodic systems?

The FIFO method yields identical results under both inventory systems because the first costs in ar…

2026年5月18日

How is “Treasury Stock” reported on the balance sheet under the cost method?

Treasury stock is a contra-equity account, meaning it reduces total stockholders' equity.

2026年5月18日

Which level of inputs is considered the “least” reliable for fair value measurement?

Level 3 inputs are unobservable and reflect the entity's own assumptions about the market.

2026年5月18日

What is the gain or loss on the early extinguishment of debt?

The gain or loss is the difference between the net carrying amount and the price paid to reacquire …

2026年5月18日

Which of the following components of pension expense is NOT recognized in current net income?

While expected return is used in net income, the difference (actual vs expected) is initially defer…

2026年5月18日

Which of the following is an example of a “definitelived” intangible asset?

Patents have a limited legal life and are therefore considered definite-lived and subject to amorti…

2026年5月18日

When calculating Diluted EPS, how are stock options treated under the treasury stock method?

The treasury stock method assumes options are exercised if the average market price exceeds the exe…

2026年5月18日

Under ASC 606, when is revenue for a “performance obligation satisfied over time” recognized?

Revenue for obligations satisfied over time is recognized by measuring progress toward complete sat…

2026年5月18日

What is the financial statement effect of a “valuation allowance” for a deferred tax asset?

A valuation allowance reduces the DTA, which increases income tax expense and thus decreases net in…

2026年5月18日

What is the primary measurement basis for identifiable assets acquired in a business combination?

ASC 805 requires almost all identifiable assets acquired to be measured at their acquisition-date f…

2026年5月18日