CFA整理一些CFA考题，帮助大家测试CFA考试的复习效果。特许金融分析师CFA一级考试真题及答案解析单项选择题(本题型共5小题，每小题20分，每小题只有一个正确答案，请从每小题的备选答案中选出一个你认为正确的答案，在答题卡相应位置上用2B铅笔填涂相应的答案代码，答案写在试题卷上无效)
CFA模拟题。1、In 20X8, Oliver Ltd. received $80,000 cash from a customer for goods that it could not deliver until the next year and established a liability for unearned revenue. Oliver reports under U.S. GAAP, faces a 40% tax rate, and is located in a tax jurisdiction where unearned revenue is taxed as received. On their balance sheet for 20X8, what change in deferred tax should Oliver record as a result of this transaction?
A. A deferred tax liability of $32,000.
B. A deferred tax asset of $32,000.
C. There is no effect on deferred tax items from this transaction.
2、If timing differences that give rise to a deferred tax liability are not expected to reverse then the deferred tax:
A. must be reduced by a valuation allowance.
B. should be considered an asset or liability.
C. should be considered an increase in equity.
3、Which of the following statements about tax deferrals is NOT correct?
A. A deferred tax liability is expected to result in future cash outflow.
B. Taxes payable are determined by pretax income and the tax rate.
C. Income tax paid can include payments or refunds for other years.
4、Davis Inc. is a large manufacturing company operating in several European countries. Davis has long-lived assets currently in use that are valued on the balance sheet at $600 million. This includes previously recognized impairment losses of $80 million. The original cost of the assets was $750 million. The fair value of the assets was determined by in independent appraisal to be $690 million. Which of the following entries may Davis record under IFRS?
A. $90 million gain on income statement.
B. $90 million revaluation surplus.
C. $80 million gain on income statement and a $10 million revaluation surplus.
5、Intangible assets with finite useful lives are:
A. amortized over their actual lives.
B. not amortized, but are tested for impairment at least annually.
C. amortized over their expected useful lives.
Answer：
1、solution：B
Oliver has paid tax on the $80,000 revenue in 20X8, but has not recorded the revenue on it for financial statement purposes. This results in a temporary difference of $32,000, which is a deferred tax asset. The tax asset will be realized when the company recognizes the revenue on its financial statements in the subsequent period2、solution：CIf deferred tax liabilities are expected to reverse in the future, then they should be classified as liabilities. If, however, they are not expected to reverse in the future, then they should be classified as equity.
3、solution：B
Taxes payable are the taxes due to the government and are determined by taxable income and the tax rate. Note that pretax income is income before tax expense and is used for financial reporting. Taxable income is the income based upon IRS rules that determines taxes due and is used for tax reporting.
4、solution：C
Under IFRS, firms may choose to report long-lived assets at fair value. Upward revaluations are permitted and will result in a gain recognized on the income statement to the extent it reverses a previously recognized loss. Any excess is reported as a revaluation surplus, a direct adjustment to equity. In this case, the carrying value of the assets is $600 million ($750 million original cost less $70 million accumulated depreciation and less $80 million impairment loss). The fair value is $690 million. Of the $90 million excess of fair value over carrying value, $80 million is recognized as a gain on the income statement to reverse the $80 million impairment loss that was previously recognized. The remaining $10 million is recorded as a revaluation surplus in shareholders' equity.
5、solution：C
Intangible assets with finite lives are amortized over their expected useful lives, which is an estimate. Actual lives of intangible assets are often not known in advance. Intangible assets with infinite lives are not amortized, but are tested for impairment at least annually。
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