"Financial Report":Tax rate

下載正保會(huì)計(jì)網(wǎng)校APP 訂閱最新報(bào)考消息

來(lái)源: 正保會(huì)計(jì)網(wǎng)校編輯：小鞠橘桔 2020/11/13 09:46:07　字體：大小

選課中心

多樣班次滿足需求

選課中心

資料專區(qū)

干貨資料助力備考

資料專區(qū)

報(bào)考指南

報(bào)考條件一鍵了解

報(bào)考指南

學(xué)習(xí)是一個(gè)不斷積累的過(guò)程，每天學(xué)習(xí)一點(diǎn)，每天進(jìn)步一點(diǎn)！為了幫助大家更高效地備考2021年CFA考試，正保會(huì)計(jì)網(wǎng)校每日為大家上新CFA習(xí)題供大家練習(xí)。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢(mèng)想成真！

Questions 1:

In applying the principles of expense recognition, companies should:

A、 record any estimates of uncollectible amounts as a direct reduction of revenues.

B 、exclude costs of intangible assets with indefinite useful lives.

C 、recognize credit losses on customer receivables when defaults occur.

Questions 2:

The following table summarizes income statement data for a manufacturing company:

Financial Report:Tax rate

Compared with 2020, the 2021 common-size income statement most likely indicates:

A 、a lower tax rate.

B 、cost cutting in selling, general and administration.

C 、sale of a new, differentiated product.

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. The two main types of long-lived assets whose costs are not allocated over time are land and those intangible assets with indefinite useful lives.

A is incorrect because a company records an estimate of uncollectible amounts as an expense on the income statement, not as a direct reduction of revenues.

C is incorrect because, under the matching principle, at the time revenue is recognized on a sale, a company is required to record an estimate of how much of the revenue will ultimately be uncollectible.

【Answer to question 2】C

【analysis】

C is correct. Gross profit margin improved from 33.3% (€775/€2,325) to 35.6% (€930/€2,611). This may be reflective of selling a new, more highly differentiated product.

A is incorrect because the tax rate (which is expressed as tax paid as a percentage of net income) increased year over year, from 26.1% (€120/€460) to 26.7% (€155/€580). This is also true of tax paid as a percentage of revenue, which increased from 5.2% (€120/€2,325) to 5.9% (€155/€2,611) year over year. The company’s profitability was reduced because of the higher tax rate.

B is incorrect because SG&A as a percentage of revenue slightly increased year over year: 2010 = €260/€2,325 = 11.2% and 2011 = €295/€2,611 = 11.3%.

成功=時(shí)間+方法，自制力是這個(gè)等式的保障。世上無(wú)天才，高手都是來(lái)自刻苦的練習(xí)。而人們經(jīng)常只看到“牛人”閃耀的成績(jī)，其成績(jī)背后無(wú)比寂寞的勤奮。小編相信，每天都在勤奮練習(xí)，即使是一點(diǎn)點(diǎn)的進(jìn)步，大家一定可以成為人人稱贊的“牛人”。更多CFA考試資訊，點(diǎn)擊了解>