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CFAS FINAL EXAM QUESTIONS AND ANSWERS 100% PASS

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CFAS FINAL EXAM QUESTIONS AND ANSWERS 100% PASS interim financial reporting - Answers pas 34 title semi-annual financial report for the first half of the year - Answers pas 34 encourages publicly listed entities to provide at least? SEC and PSE - Answers these two require certain entities to provide quarterly financial reports interim financial report - Answers financial report prepared for an interim period complete set of fs; and set of condensed fs - Answers interim financial report contains either? interim period - Answers financial reporting period shorter than a full financial year 1. SFP 2. SPL and OCI 3. SoCE 4. SoCF 5. Notes 6. Additional SFP - Answers complete set of financial statements under PAS 1 1. condensed sfp 2. condensed spl and oci 3. condensed soce 4. condensed socf 5. selected explanatory notes - Answers condensed set of financial statements under PAS 34 condensed - Answers means the entity only need to provide minimum information interim reports - Answers these reports provide an update on the latest complete set of annual financial statements integral and discrete view - Answers two views on interim reporting losses cost income tax expenses - Answers pas 34 accounting principles impairment of assets - Answers pas 36 title impairment loss - Answers the excess if carrying amount is greater than recoverable amount carrying amount - Answers amount an asset is recognized after deducting any accumulated depreciation recoverable amount - Answers amount expected to be recovered fair value less costs of disposal value in use - Answers recoverable amount is the higher between? fair value - Answers price that would be received to sell an asset in an orderly transaction costs of disposal - Answers incremental costs directly attributable to disposal of asset value in use - Answers present value of future cash flows 1. intangible asset with indefinite useful life 2. intangible asset not yet available for use 3. goodwill acquired in business combination - Answers three intangible assets that require testing for impairment at least annually discount rate - Answers pre tax rate profit or loss - Answers impairment loss is recognized immediately in? cash-generating unit - Answers smallest identifiable group of assets that generates cash inflows corporate assets - Answers assets that contribute to the future cash flows of several departments within an entity indication of impairment exists - Answers an asset is tested for impairment only when? provisions, contingent liabilities and contingent assets - Answers pas 37 title onerous - Answers this word means burdensome executory contract - Answers contract that is equally unperformed onerous contract - Answers contract where cost of fulfilling it exceeds the economic benefits expected from it provision - Answers liabiity of uncertain timing 1. warranty obligations 2. estimated liabilities on pending lawsuits 3. provisions on onerous contracts - Answers atleast three examples of provisions present obligation probable outflow reliably estimated - Answers all three conditions that a liability must meet for it to be recognized as provision contingent liability - Answers possible obligation whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events contingent assets - Answers these include possible inflows of economic benefits from

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CFAS 2300 Final Exam Questions and Answers Latest Update 2025 Graded A+

Differences between persuasive and informative speaking - Answers persuasive speaking involves a call
to action, ethos, logos, pathos

How to choose an attention getting device - Answers Humor, statistics, brief story

Audience Demographics - Answers Personal characteristics of the audience members, such as age,
gender, ethnicity, and financial status

Appealing to audience needs (physiological, safety, social, self esteem..etc) - Answers check book

Enunciation vs Pronunciation - Answers Enunciation is articulating words clearly. Pronunciation is saying
words clearly

Strategies for useful feedback - Answers Be specific, provide suggestions, balance positive and negative
feedback

Strategies for receiving feedback non-defensively - Answers Check openness to feedback, monitor non-
verbal, keep reactivity in check. Limit feedback to the essentials

Monroe's Motivational Sequence - Answers Attention: serves as the introduction of the speech and
gains the audience's attention

Need Step: seeks to convince the audience that a change in the current situation is necessary; defines
the current problem

Satisfaction Step: Provides the audience with the means to fulfill the motivation and explains how the
solution will work

Visualization Step: Paints a mental picture of the solution

Action Step: Asks the listeners to take specific step to bring about a solution to the current problem

Ethos - Answers Appeal through the speaker's character to convince the audience of his or her claim

EX: credentials; "Based on my 20 years of research on thermodynamics, I can confirm that these
theories are valid."

Pathos - Answers A speaker's attempts to arouse emotion in listeners to compel them to believe his or
her claim or argument

EX: television commercials that solicit donations for starving people in developing countries; "Sending
financial assistance to the Sudan helps feed thousands of starving children."

Logos - Answers A speaker's use of logical reasoning to persuade an audience of his or her position

, EX: an environmental scientist uses logos when speaking about he causes of global warming and the
impacts of global warming on the human race. "The US Government should reduce entitlement
spending because it increases the deficit and therefore seriously affects the domestic economy."

Claims of fact pg. 299 - Answers An assertion that a condition exists, did exist, or will exist.

"The American colonies declared their independence from Great Britain in 1776."

"The current population of the United States is approximately 313 million people."

Facts can be more complex, usually supporting claims of evidence

"Japanese economic expansionism was the primary cause of World War II."

Claims of Value pg. 299 - Answers An assertion that something is preferable or not preferable; moral and
aesthetic judgments.

"The Dark Knight is a better movie than Iron Man" (aesthetic judgment)

"Capital punishment is morally unjustifiable." (moral judgment)

Claims of Policy pg. 300 - Answers An assertion that an action should or should not be taken to address a
given set of circumstances; assert whether a course of action should be taken; words "should, ought to,
or must" usually signal these kinds of propositions.

"The American government should provide health care for all citizens."

"Our university ought to extend the add-drop period."

Closely connected to morality judgments or political philosophy, the claims should also be doable.

Ethics - Answers The rules or standards governing the conduct of a person; agreed-upon standards of
right or wrong. The study and practice of what is good, right, or virtuous

Civility - Answers Being civil means being constantly aware of others, and weaving restraint, respect, and
consideration into every fabric of this awareness

Moral Intensity - Answers The degree to which others will be affected by your decisions or actions

Defining Moment - Answers Choosing between two or more ideals/values in which one deeply believes

Buber's I/Thou and I/It Stance - Answers not in book

What is the Platinum Rule? - Answers Do unto others as they wish to have done to themselves

How is the Golden Rule different than the Platinum Rule? - Answers The Platinum Rule takes cultural
differences into account

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