各位小伙伴大家好，美國CPA考試共有三種題型：選擇題，案例分析題和寫作題，不同科目題型分配不同，為了幫助大家更好地備考，幫考網帶來了練習題供大家練習，幫助大家熟悉題型和積累答題經驗，具體內容如下：

1.Beach Co. determined that the decline in the fair value (FV) of an investment was below the amortized cost ａｎｄ　other than temporary. The investment was classified as available-for-sale on Beach\\\'s books. The controller would properly record the decrease in FV under U.S. GAAP by including it in which of the following?

a. Other comprehensive income section of the income statement only.

b. Earnings section of the income statement ａｎｄ　writing down the cost basis to FV.

c. Other comprehensive income section of the income statement, ａｎｄ　writing down the cost basis to FV.

d. Extraordinary items section of the income statement, net of tax, ａｎｄ　writing down the cost basis to FV.

答案：B

Explanation

Choice "b" is correct. When an available-for-sale security is determined to be impaired because of an other than temporary decline in fair value below cost, the asｓｅｔmust be written down to the lower fair value by recording a loss that is recognized on the income statement.

Choice "a" is incorrect. The impairment of an available-for-sale security must be recorded on the income statement. Only gains ａｎｄ　temporary losses on available-for-sale securities are reported in other comprehensive income.

Choice "d" is incorrect. The impairment of an available-for-sale security is reported as a component of income from continuing operations ａｎｄ　is not considered an extraordinary item.

Choice "c" is incorrect. The impairment of an available-for-sale security must be recorded on the income statement. Only gains ａｎｄ　temporary losses on available-for-sale securities are reported in other comprehensive income.

2.A company reporting under IFRS holds a position in BE Corp. bonds that it classifies as available-for-sale. In the previous year, the company recorded an impairment loss related to the bonds. In the current year, the company reversed a portion of the impairment loss. How should the company account fｏｒthe impairment loss reversal on its current year financial statements?

a. Recognize the increase as an adjustment to the previous year\\\'s income statement.

b. Book the reversal to the current year\\\'s other comprehensive income.

c. Book the increase as an adjustment to the previous year\\\'s other comprehensive income.

d. Recognize the reversal to the current year\\\'s income statement.

答案：D

Explanation

Choice "d" is correct. Under IFRS, reversals of impairment losses are allowed ａｎｄ　the increase would be booked to the current year\\\'s income statement.

Choice "b" is incorrect. The increase fｏｒavailable-for-sale debt securities related to an impairment reversal will be report on the income statement ａｎｄ　not in other comprehensive income.

Choice "a" is incorrect. The reversal should be reflected on the current year income statement.

Choice "c" is incorrect. The reversal would not be placed in either the current ｏｒprevious year\\\'s other comprehensive income.

3.At the beginning of Year 2, a company invested $40,000 in a marketable equity security. At that time the security was appropriately classified as an available-for-sale security. At the end of Year 2, the security had a fair value of $28,500. The change in fair value is deemed temporary. How should this change in fair value be reported in the financial statements?

a. As a realized loss of $11,500 as part of net income.

b. As an unrealized loss of $11,500 as part of net income.

c. As a realized loss of $11,500 as part of other comprehensive income.

d. As an unrealized loss of $11,500 as part of other comprehensive income.

答案：D

Explanation

Choice “d” is correct. Unrealized gains ａｎｄ　losses on available-for-sale (AFS) securities are booked in other comprehensive income (OCI). Changes in the fair value of the securities will continue to go to OCI until the security is sold, at which point the balance in OCI will be removed ａｎｄ　a realized gain ｏｒloss will be booked on the income statement. Because the security has not been sold, the change in fair value from $40,000 to $28,500 represents an unrealized loss of $11,500, which goes straight to OCI.

Choice “a” is incorrect. This choice would only be correct if the security was actually sold fｏｒ$28,500. Changes in fair value fｏｒAFS securities represent unrealized gains ｏｒlosses which go to OCI.

Choice “c” is incorrect. The loss of $11,500 will go into OCI, but it will be unrealized rather than realized.

Choice “b” is incorrect. Unrealized losses on AFS securities go into OCI rather than onto the income statement.

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