CertsTopics Logo

New Year Special 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

Note! The FR Exam is no longer valid. To find out more, please contact us through our Live Chat or email us.

CPA FR Exam With Confidence Using Practice Dumps

Exam Code:
FR
Exam Name:
Financial Reporting
Certification:
CPA Other Certification
Vendor:
CPA
Questions:
80
Last Updated:
Dec 21, 2024
Exam Status:
Stable
CPA FR

FR: CPA Other Certification Exam 2024 Study Guide Pdf and Test Engine

Are you worried about passing the CPA FR (Financial Reporting) exam? Download the most recent CPA FR braindumps with answers that are 100% real. After downloading the CPA FR exam dumps training , you can receive 99 days of free updates, making this website one of the best options to save additional money. In order to help you prepare for the CPA FR exam questions and verified answers by IT certified experts, CertsTopics has put together a complete collection of dumps questions and answers. To help you prepare and pass the CPA FR exam on your first attempt, we have compiled actual exam questions and their answers. 

Our (Financial Reporting) Study Materials are designed to meet the needs of thousands of candidates globally. A free sample of the CompTIA FR test is available at CertsTopics. Before purchasing it, you can also see the CPA FR practice exam demo.

Related CPA Exams

Financial Reporting Questions and Answers

Get Free FR Questions and Answers
Question 1

A conceptual framework is a statement of generally accepted theoretical principles which form the frame of reference for financial reporting.

Which of the following is NOT a disadvantage of conceptual framework?

Options:

A.

Standards are developed on patchwork basis.

B.

Conceptual frameworks are developed for preparing financial statements that is intended for wide range of users.

C.

Financial statements are used for variety of purposes.

D.

The task of preparation and implementation of standards.

Buy Now
Question 2

Arnold Ltd bought an asset on 1 October 20X1 for $200,000. It was being depreciated over 20 years on the straight-line basis. On 1 October 20X3, the asset was revalued to $270,000. Subsequently, on 30 September 20X7 the asset was classified as held for sale. Its fair value was estimated at $190,000 with costs to sell $5,000.

In accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, what should be the lossrecognizedin the statement of profit or loss for the year ended 30 September 20X7?

Options:

A.

$Nil

B.

$5,000

C.

$20,000

D.

$25,000

Question 3

Jamal Co buys some goods from SA of France on 30 September (year end is 31 December). The invoice value is €40,000 and is due for settlement in equalinstallmentson 30 November and 31 January. The exchange rate moved as follows:

€ = $1

30-Sep1.60

30-Nov1.80

31-Dec1.90

31-Jan1.85

What are the total exchange gains / (losses) that will be included in the operating profit of Jamal Co for the year ended 31 December 2012?

Options:

A.

A gain of $1,389

B.

A loss of $1,689

C.

A gain of $3,078

D.

A gain of $3,363

Get Free FR Questions and Answers