試験FAR トピック1 問題37 スレッド
AICPA FARのリアル試験問題集
問題 #: 37
トピック #: 1
問題 #: 37
トピック #: 1
Due to a decline in market price in the second quarter, Petal Co. incurred an inventory loss. The market
price is expected to return to previous levels by the end of the year. At the end of the year the decline had
not reversed. When should the loss be reported in Petal's interim income statements?
price is expected to return to previous levels by the end of the year. At the end of the year the decline had
not reversed. When should the loss be reported in Petal's interim income statements?
おすすめの解答：D 解答を投票する
Choice "d" is correct. When the loss is probable and estimable, the expected loss must be recorded in full.
This loss becomes such at the end of the fourth quarter. Therefore, the inventory must be valued on the
year-end at the lower of cost or market, recognizing the loss at that time. Choice "a" is incorrect. Expected
losses must be recorded in full when the loss is probable and estimable and not ratably over several
quarters. Choice "b" is incorrect. Expected losses must be recorded in full when the loss is probable and
estimable and not ratably over several quarters. Choice "c" is incorrect. Since the loss is not probable at
the end of the second quarter, no amount should be recognized at that time.
This loss becomes such at the end of the fourth quarter. Therefore, the inventory must be valued on the
year-end at the lower of cost or market, recognizing the loss at that time. Choice "a" is incorrect. Expected
losses must be recorded in full when the loss is probable and estimable and not ratably over several
quarters. Choice "b" is incorrect. Expected losses must be recorded in full when the loss is probable and
estimable and not ratably over several quarters. Choice "c" is incorrect. Since the loss is not probable at
the end of the second quarter, no amount should be recognized at that time.
Kimura 2024-05-09 06:54:43
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