CFA · CFA Level I

Analyzing Balance Sheets: Practice Questions

5 multiple-choice questions marked as you go, and 1 written questions with worked solutions. All on Analyzing Balance Sheets.

6 questions8 marksFree, no account

Question 1

1 mark

Under US GAAP, how should an unrealized gain or loss on available-for-sale debt securities be reported?

Question 2

1 mark

Which of the following components is included in accumulated other comprehensive income (AOCI) under IFRS?

Question 3

1 mark

Which of the following items is classified as a current liability on a classified balance sheet?

Question 4

1 mark

Under US GAAP, treasury stock is reported on the balance sheet as a:

Question 5

1 mark

Under IFRS, if an entity uses the revaluation model for property, plant, and equipment (PPE), an initial revaluation surplus that increases the asset's carrying value above historical cost is recognized in:

Question 6

3 marks

Under both IFRS and US GAAP, how does the initial recognition of a finance/capital lease by a lessee affect total assets and total liabilities on the balance sheet?

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