"Financial Report":amortized cost

来源: 正保会计网校编辑：小鞠橘桔 2020/12/29 15:29:55　字体：大小

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Questions 1:

If a company purchases, at a premium, bonds that it expects to hold until maturity, they are most likely measured on the balance sheet at:

A 、historical cost.

B、 amortized cost.

C、 fair value.

Questions 2:

An increase in which of the following items would most likely result in an increase in a company’s quick ratio, all else being held equal?

A、 Current liabilities

B、 Receivables

C、 Inventory

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. The bonds would be a type of financial asset that is measured at amortized cost. This classification applies to financial assets whose cash flows occur on specific dates and consist solely of principal and interest, and if the entity’s business model for this investment is to hold the asset to maturity.

C is incorrect. Financial assets can be measured at fair value but because the entity intends to hold these bonds to maturity, amortized cost is more likely.

A is incorrect. Some financial assets, notably loans to other companies, are measured at historical cost, but not a purchased bond.

【Answer to question 2】B

【analysis】

B is correct. Because inventories are excluded from the quick ratio, holding all other variables constant, an increase in cash, marketable securities, or receivables will increase a company’s quick ratio. In addition, holding all other variables constant, an increase in current liabilities will decrease a company’s quick ratio.

A is incorrect. An increase in current liabilities will decrease the quick ratio.

C is incorrect. Inventory is not included in the calculation of quick ratio.

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