文档介绍:CGA-CANADA
FINANCIAL ACCOUNTING: ASSETS [FA2] EXAMINATION
March 2009
Marks Time: 3 Hours
Notes:
1. All calculations must be shown in an orderly manner to obtain part marks.
2. Round all calculations to the nearest dollar.
3. Narratives for journal entries are not required unless specifically asked for. When preparing journal entries, be careful to select account titles that clearly
indicate where the item will appear in the financial statements. For example, if something is to be on the income statement, it should be labelled as a
revenue, expense, gain or loss.
4. Assume a December 31 fiscal year-end unless specifically stated otherwise.
5. Assume all amounts are material unless directed otherwise.
30 Question 1
Select the best answer for each of the following unrelated items. Answer each of these items in your
examination booklet by giving the number of your choice. For example, if the best answer for item (a)
is (1), write (a)(1) in your examination booklet. If more than one answer is given for an item, that item will
not be marked. Incorrect answers will be marked as zero. Marks will not be awarded for explanations.
Note:
2 marks each
a. Over the past several years, there has been a move towards increased harmonization of accounting
standards internationally. One objective of the Accounting Standards Board in Canada is convergence
with . accounting standards. Which of the following has reduced convergence of Canadian and
. accounting standards in the past?
1) The legal environment has led to more detailed rule making in Canada.
2)