题目内容（请给出正确答案）

[主观题]

A company has a provision for warranty claims b/f of $3500. It does a review and decides that the provision needed in future should be $3000. What is the effect on the financial statements？

A、Income statement increase expense by $500; Statement of financial position shows provision $3500

B、Income statement increase expense by $500; Statement of financial position shows provision $3000

C、Income statement decrease expense by $500; Statement of financial position shows provision $3500

D、Income statement decrease expense by $500; Statement of financial position shows provision $3000

提问人：网友wnxiaowei 发布时间：2022-01-07

参考答案

查看官方参考答案

如搜索结果不匹配，请联系老师获取答案

您可能会需要：

重置密码查看订单联系客服

安装简答题APP，拍照搜题省时又省心！

更多“A company has a provision for …”相关的问题

第1题

What techniques does Mark Twain use to reproduce actual daily speech with accuracy?

A、accent

B、dialect

C、spelling errors

D、ungrammatical sentences

点击查看答案

第2题

“Der gegenwärtige König von Frankreich ist kahlköpﬁg.”和“Woher wissen Sie, dass der gegenwärtige König von Frankreich nicht kahlköpfig ist.”这两个表述的预设内容是不一致的。

点击查看答案

第3题

How does a company account for a contingent asset that is not probable?

A、By way of note

B、As an asset in the statement of financial position

C、It does nothing

D、Offset against any associated liability

点击查看答案

第4题

Because of the present obligation, a company is being sued for $1000 by a customer. The company’s lawyers reckon that it is probable that the claim will be upheld. How should the company account for this?

A、Disclosure

B、Nothing

C、Provision

D、Asset

点击查看答案

第5题

A contingent liability is always disclosed on the face of the statement of financial position.

点击查看答案

第6题

Based on past experience, Kiran has always provided 5% of revenue each year as a provision to meet expected claims under warranty.The balance on the warranty provision at 1 January 20X6 was $20,500.During the year, $11,600 was spent setting claims and the remaining opening provision was released as unused. Kinan's revenue for the year ended 31 December 20X6 was $268.000 What should be the warranty expense charge in Kiran's statement of profit or loss for year ended 31 December 20X6?

A、$11,600

B、$13,400

C、$25,000

D、$4,500

点击查看答案

第7题

When preparing the disclosure note for a provision,which of the following must be disclosed for each class of provision. 1 Any uncertainties regarding the provision 2 The nature of the provision 3 The timing of the provision

A、1 and 3 only

B、1.2 and 3

C、2 and 3

D、only 2

点击查看答案