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 7.docVIP

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Copyright?2015PearsonEducation,Inc.

AdvancedAccounting,12e(Beamsetal.)

Chapter7IntercompanyProfitTransactions-Bonds

7.1MultipleChoiceQuestions

1)Ifthepricepaidbyaparentcompanytoacquirethedebtofasubsidiaryisgreaterthanthebookvalueoftheliability,a________occurs.

A)realizedlossontheretirementofdebtfromtheviewpointofthesubsidiary

B)realizedgainontheretirementofdebtfromtheviewpointofthesubsidiary

C)constructivelossontheretirementofdebtfromtheviewpointoftheconsolidatedentity

D)constructivegainontheretirementofdebtfromtheviewpointoftheconsolidatedentity

Answer:C

Objective:LO1

Difficulty:Easy

2)Ifanaffiliatepurchasesbondsintheopenmarket,thebookvalueoftheintercompanybondliabilityatthetimeofpurchaseis

A)alwaysassignedtotheparentcompanybecauseithascontrol.

B)theparvalueofthebondslesstheunamortizeddiscountorplustheunamortizedpremium.

C)parvalue.

D)theparvalueofthebondsplustheunamortizeddiscountorlesstheunamortizedpremium.

Answer:B

Objective:LO1

Difficulty:Easy

3)Bondsissuedbyacompanyremainontheirbooksasaliability,butareconsideredconstructivelyretiredwhen

A)thecompanyborrowsmoneyfromunaffiliatedentitiestore-purchaseitsownbondsatagain.

B)Thecompanyborrowsmoneyfromanaffiliatetore-purchaseitsownbondsatagain.

C)Thecompanysparentorsubsidiarypurchasesthebondsfromoutsideentities.

D)Thecompanyborrowsmoneyfromanaffiliatetorepurchaseitsownbondsatagainorataloss.

Answer:C

Objective:LO1

Difficulty:Easy

Usethefollowinginformationtoanswerthequestion(s)below.

PascalianCompanyownsa90%interestinSappCompany.OnJanuary1,2013,Pascalianhad$300,000,6%bondsoutstandingwithanunamortizedpremiumof$9,000.ThebondsmatureonDecember31,2017.Sappacquiredone-thirdofPascaliansbondsintheopenmarket