1.

In valuating (measuring) inventory surplus, the following may be used:

a) fair estimated (market) value
b) price of last acquisition
c) net selling price
d) revaluation price
2. Methods of small inventory write-off are:
a) linear method
b) 50% write-off
c) progressive method
d) calculation write-off
3. If calculation write-off of small inventory is used, then small inventory is being
consumed:
a) daily
b) annually
c) monthly
d) semi-anually
4. Plants and equipment grants:
a) should be depreciated
b) shouldnot be depreciated
c) should be immediately written off
d) do not have to be recorded in books.

5. Accelerated depreciation method is:

a) result method
b) method of withdrawal and exchange
c) method of digressive base
d) method of complex interest account
6. Inventories (supplies) of material can be valuated by:
a) market prices by which they can be purchased
b) actual acquisition prices
c) planned acquisition prices (standard acquisition prices)
d) one group by actual and the other group by planned (standard) acquisition prices
7. Land turnover is a part of:
a) value added tax
b) sales tax (on property)
c) direct tax
d) indirect tax
8. Under stable monetary units conditions, valuation of material consumption may be
obtained by application of:
a) FIFO method
b) method of average weighted acquisition prices (acquisition cost)
c) LIFO method
d) any stable conditions method
e) method of specific identification

9. Goodwill shoud be written off:

a) in a period longer than 5 years
b) during its useful life, which can not exceed 40 years
c) is never written off.
10. Earning per share concept may apply to:
a) regular shares
b) preferred shares
c) bonds
d) shareholder's reserves
11. Debt balance on provisional gyro account represents:
a) that the cash was withdrawn from the gyroaccount
b) that the cash was paid on gyro account
c) that the statement from the business book was recorded on payment on the gyro
account
12. Depreciation of intangible assets is called:
a) depreciation
b) exhaustion
c) obsolescence
13. Inventory of merchandise in shop is valued by:
a) retail shop method
b) selling price with VAT
c) market price
d) standard production cost

14. Management may have several reasons for declaration of share dividends:
a) retaining money with the aim of expansion of joint-stock company at the market
b) with additional issue of share dividends, there is an impact on decrease of share
market value
c) with declaration of share dividends, shareholders avoid tax payment on dividends
compared with declaration and payment of monetary dividends

15. Which of the following does not belong to current assets:

a) short-term investments
b) accrued, unpaid costs
c) prepaid costs
d) cash and cash equivalents
16. Which of the following belongs to current liabilities (short-term liabilities)?
a) prepaid rental costs for 2 years
b) prepaid insurance costs for 6 months
c) accrued, unpaid electricity costs for the previous month
d) receivables for uninvoiced revenue from sale of final products
17. Which of the following non-current (fixed) tangible assets is not liable to
depreciation?
a) transport means
b) plants and equipment
c) land
d) construction buildings

18. Calculation of costs that are included in costs of inventories of production and
inventories of final products, has the following elements:
a) direct material costs
b) direct labor costs (wages)
c) general variable production costs
d) general fixed costs for used normal capacity
e) total product costs (production costs)
19. In the absorption system of cost calculation, in calculation of costs by bearers the
following costs are not encompassed in total:
a) general costs of production
b) direct material
c) direct labor
d) general costs of management, sale and administration
e) CEO salary
20. Reasons for redemption of own (treasury) shares may be:
a) to reduce the volume of business activity of joint-stock company
b) to reduce the danger from competition takeover
c) to reduce the number of own shares with the aim of increasing profit (earning)
per share and market value per share
d) to redeem ownership interests of one or several shareholders
e) to maintain favorable market for shares of joint-stock company
21. Discount on equipment purchase:
a) increases the expenditures
b) decreases acquisition value of the asset
c) decreases expenditures
d) increases acquisition value of the asset

22. Accruals and deferred income (short-term accruals) include:

a) income tax expenditure
b) calculated liabilities for vacation
c) potential liabilities
d) paid deposits
e) accrued, unpaid costs
23. Which of the following non-current (fixed) tangible assets is liable to depreciation
calculation?
a) construction buildings
b) land
c) advances for property, plants and equipment
d) property, plants and equipment in preparation
24. Which of the following features does not describe current assets, according to MRS 1?
a) assets are held primarily for sale
b) they are cash or cash equivalents
c) they are expected to be used in a period longer than 1 year
d) they are expected to be realized or held for sale or consumption during regular
operating of a legal entity
25. According to MRS 2 Inventories, which of the following methods are not used when
valuating (measuring) consumption of material in stable monetary units conditions?
a) method of average weighted acquisition prices (acquisition cost)
b) FIFO method
c) LIFO method
d) method of specific identification

26. Which of the following belongs to current (short-term) liabilities?

a) accrued, unpaid electricity costs for the previous month
b) receivables for non-invoiced revenues (accrued, but non-invoiced revenues from sale
of final products)
c) prepaid rent for 2 years
d) prepaid insurance costs for 6 months
27. One of the components of income statement of trading company is gross profit (gross
margin) which represents the difference between:
a) profit before tax payment and profit tax
b) net sale and operating costs
c) revenues and expenses
d) net revenues from sale and cost of sold goods (acquisition value of sold goods)
28. Determine which of the following does not belong to non-current (fixed) intangible
assets, but is recognized as an expense (cost):
a) foundation costs
b) patents, licences, concessions
c) goodwill
d) development costs
29. Fixed intangible assets can be:
a) internally provided goodwill
b) internally received trademarks
c) patents, licences, concessions, development expenses

30. Which of the characteristics listed below is a feature of regular or ordinary shares?
a) they bear voting right about questions related to managing a joint-stock company
b) they bear cumulative right for collection of all unpaid dividends
c) according to their characteristics, they are between shares and bonds
d) their owners have the right to priority collection of dividends
31. Choose the correct statement:
a) equity represents borrowed sources of assets
b) equity is the residual interest in the assets of the entity after deducting all its
liabilities
c) equity is the difference between revenues and expenses
d) equity represents the sum of assets and liabilities
32. Which of the following does not belong to current assets?
a) accrued, unpaid cost
b) prepaid costs
c) short-term investments
d) cash and cash equivalents
33. Shareholder's equity decreases:
a) by buying own (treasury) shares
b) cover of loss from reserves
c) loss creation
34. Other revenues and expenses:
a) are not related to sale of products
b) do not incurr in current operations
c) represent unusual terms

35. Expenses that arise from regular business activities of a legal entity involve:
a) costs of goods sold
b) salaries costs
c) depreciation costs
36. According to the quality, receivables may be classified as:
a) good quality receivables
b) impaired receivables
c) non-performing receivables
37. Expenditures incurred when founding the company are called:
a) initiation costs
b) foundation costs
c) starting costs
d) official costs
38. Goodwill can be recognized in one of the following ways:
a) can be immediately eliminated from the account on charge of the expenses of the
period
b) can be eliminated by depreciation through the income statement
c) is recognized in balance sheet by acquisition method
39. Short-term financial placements can be:
a) treasury bills
b) commercial bills
c) investments in shares for further sale

40. Other revenues can be:

a) revenues from interest
b) positive foreign exchange difference
c) revenues from subsidies, grants, subventions, incentives
d) revenues from written-off liabilities
e) revenues from cancellation of long-term provisions
41. Which of the following is not a part of acquisition cost of equipment?
a) purchasing price
b) delivery costs
c) costs of releasing an asset in operation and initial costs of testing it, before releasing it
into operations
d) interest on loan (credit)
42. Loss of current year can be covered in the following year at the expense of:
a) equity
b) retained earnings (accumulated profit)
c) reserves
43. Losses which satisfy the definition of expenses involve:
a) losses that occurred as a consequence of disasters such as fires and floods
b) non-realized losses
c) losses arising from sale of long-term assets
44. According to Framework, definition of expenses encompasses:
a) expenses arising from regular activities
b) losses which satisfy the definition of expenses, but do not have to arise from
regular activities of a legal entity