上海对外经贸大学 高级财务会计学笔记-高级财务会计学（英）chapter 13.docVIP

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AdvancedAccounting,12e(Beamsetal.)

Chapter13AccountingforDerivativesandHedgingActivities

13.1MultipleChoiceQuestions

1)Whichofthefollowinghedgingstrategieswouldabusinessmostlikelyuse?

A)Animporterwillwanttohedgehisforeigndenominatedaccountsreceivableandwillpurchaseforwardcontractstohedgeanexposednetassetposition.

B)Animporterwillwanttohedgehisforeigndenominatedaccountspayableandwillpurchaseforwardcontractstohedgeanexposednetliabilityposition.

C)Anexporterwillwanttohedgehisforeigndenominatedaccountsreceivableandwillpurchaseforwardcontractstohedgeanexposednetliabilityposition.

D)Anexporterwillwanttohedgehisforeigndenominatedaccountspayableandwillpurchaseforwardcontractstohedgeanexposednetliabilityposition.

Answer:B

Objective:LO2

Difficulty:Easy

2)Ahighly-effectivehedgeofanexistingassetorliabilitythatisreportedonthebalancesheetwouldberecordedusing

A)ModifiedCashBasisAccounting.

B)CriticalTermHedgeAnalysis.

C)FairValueHedgeAccounting.

D)HedgeofNetInvestmentinForeignSubsidiary.

Answer:C

Objective:LO2

Difficulty:Easy

3)Whichofthefollowingisnotanapproachappropriateforhedgeaccounting?

A)CashFlowHedgeAccounting

B)CriticalTermHedgeAccounting

C)FairValueHedgeAccounting

D)HedgeofNetInvestmentinForeignSubsidiary

Answer:B

Objective:LO1,2

Difficulty:Easy

4)Ifafinancialinstrumentisclassifiedasacashflowhedge,then

A)itsgainsorlossesarereportedintheincomestatementifafiscalyear-endoccursbeforethesettlementdate.

B)itisclassifiedasaheld-to-maturityasset.

C)itdoesnotrequireanotionalamount.

D)itsgainsorlossesarereportedinthebalancesheetifafiscalyear-endoccursbeforethesettlementdate.

Answer:D

Objective:LO1

Difficulty:Easy

5)Whenacashflowhedgeisappropriate