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英文会計検定 1級

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Under ASC 842, what must a lessee recognize for almost all leases on the balance sheet?

ASC 842 requires lessees to recognize both an asset and a liability for operating and finance lease…

2026年5月18日

Which of the following is typically included in Other Comprehensive Income (OCI)?

Under US GAAP, unrealized gains/losses on available-for-sale debt securities are reported in OCI.

2026年5月18日

When a bond is issued at a discount, how does the carrying value change over time using the effective interest method?

The amortization of a bond discount increases the carrying value until it reaches par value at matu…

2026年5月18日

What is the formula for the Current Ratio?

The current ratio measures a company ability to pay short-term obligations by dividing current asse…

2026年5月18日

Which component of internal control involves the assessment of the quality of performance over time?

Monitoring activities ensure that internal controls continue to operate effectively.

2026年5月18日

Which of the following accounts is a contra-asset account?

Accumulated Depreciation reduces the carrying value of property, plant, and equipment.

2026年5月18日

Which term refers to the systematic allocation of the cost of an intangible asset over its useful life?

Amortization is the process of expensing the cost of intangible assets over time.

2026年5月18日

Which of the following is an example of an accrued expense?

Accrued expenses are costs incurred but not yet paid or recorded at the end of an accounting period.

2026年5月18日

In the Statement of Cash Flows, where should the payment of dividends be classified?

Dividend payments to stockholders are classified as financing activities under US GAAP.

2026年5月18日

Which inventory cost flow assumption assumes that the last items placed in inventory are the first ones sold?

LIFO stands for Last-In, First-Out, meaning the most recent costs are matched against current reven…

2026年5月18日