NASKAH UJIAN MASUK PRODIP IV STAN

TAHUN AKADEMIK 2005 - 2006

BAHASA INGGRIS

INSTRUCTION : READ THE FOLLOWING PARAGRAPH CAREFUL-

LY AND SELECT THE CORRECT ANSWER FROM
THE FOUR CHOICES GIVEN.

Part A. Reading Comprehension

01. Surety bonds covering acceptable completion of the contract involved in public projects
are required by law. One function of these bonds is to insure that the project will be -----
A. finished B. inexpensive
C. popular D. practical

02. Before Industrial Revolution, each craftsman was forced to keep in his small shop many
different kinds of equipment, although he could use only one piece of equipment at a time.
Now, in modern factory, each man is assigned to a machine and all equipment is -----
A. elaborately designed B. kept repaired
C. constantly used C. skillfully operated

03. Compulsory retirement provisions in industry give younger men added assurance that new
opportunities -----
A. will open up to them B. are fairly distributed
C. will help the older workers D. must be sought in new work

04. The Chinese philosopher Lao-tse taught his followers to believe in feng-shui,
a mystical spirit connected with land and giving continuity to the labors of
successive generations. The concept of feng-sui carries with it an admonition
to the Chinese farmers that they are merely trustees of the soil, since it
belongs not only to them but to all their ancestor and descendants. One
practical outcome of this agrarian philosophy is the centuries-old Chinese
practice of -----
A. feng-suiism B. feudalism
C. soil conservation D. rice-cultivation

05. Man is inconsistent in his likes and dislikes. What he loves at twenty, he hates
at forty, but his inconsistency speaks well of his ability to profit from
experience. If he never changed his attitude, he would be marked as -----
A. true to himself B. preferring simple things
C. unable to learn D. a wise man

Part B. Vocabulary
06. He ----- at my direction and then looked away.
A. examined B. glanced
C. scanned D. inspected

07. To ----- for the finals, each team must score a total of forty points.
 A. make B. prepare
C. qualify D. capacitate

08. The motorist who was at fault had to pay ----- to the injured.
A. damages B. indemnity
C. compensation D. insurance

09. I wish you wouldnt ----- water on me each time you wash your hands.
A. spray B. splash
C. scatter D. throw

10. The court ---- after the preliminary hearing.

A. adjourned B. adjusted
C. postponed D. cancelled

11. The young man proposed to her but unfortunately she ----- him.
A. refused B. rejected
C. dejected D. eliminated

12. When he heard the news, he was overcome by grief.

A. sorrow B. rage
C. terror C. anxiety

13. The driver tried to avert the accident by bringing the car to a sudden stop.
A. cause B. control
C. minimize D. prevent

14. He was accused of stealing the money, but I was convinced that he was -----
A. ignorant B. innocent
C. guilty D. harmless

15. When the men were caught smuggling opium, they tried to ----- the customs officer.
A. buy out B. buy over
C. buy in D. buy up

Part C. Structure/Grammar
16. I have no idea -----
A. what does this word mean
B. what this word means
C. what the meaning of this word
D. what kind of meaning is this word

17. Martha almost never studied , ----- ?

A. did she
B. would she
C. had she
D. didnt she
 18. The major point ----- was well understood.
A. he spoke
B. made when he spoke
C. of his speech
D. in the speech of his

19. To succeed in difficult task , -----

A. one needs to be persistent
B. persistence is needed
C. you need to be a persistent person
D. persistence is what one needs

20. I remember ----- for the job, but I forget the exact amount.
A. to be paid
B. that I receive pay
C. get paid
D. being paid

KEY TO THE ENTRY TEST

PRODIP IV STAN 2005 -2006

O1. A 06. B 11. B 16. B

02. C 07. C 12. A 17. A

03. B 08. C 13. D 18. C

04. C 09. B 14. B 19. A

05. C 10. A 15. B 20. D

AKUNTANSI PEMERINTAHAN

1. According to the Law No 17 Year of 2003 (The Law of Public Finance), the accounting basis for
government is:
A. Cash Basis
B. Accrual Basis
C. Cash Basis, start from year of 2008
D. Accrual Basis, start from year of 2008
2. The new system of Governmental Accounting for the Republic of Indonesia does not cover the
government unit such as the following:
A. Government Agencies.
B. State Owned Enterprises.
C. The Supreme Court Office
D. The Office of Representatives
3. Among the following governmental units below, which one is considered as the reporting entity of
the central government of Indonesia:
 A. Presidential Office
B. Ministerial Office
C. Echelon I Level Office
D. Non of above
4. The basic financial statements for the national budget (APBN) will be:
A. Balance Sheet
B. Cash Flow Statement
C. Revenue and Expenditure Statement
D. All answers are correct
5. One of the qualitative characteristics of governmental financial reporting is:
A. Monetary Unit
B. Periodic
C. Understandable
D. Accountable
6. According to the Law of Public Finance (Law Number 17 year of 2003), APBN classifies budget
as:
A. Routine and development expenditure
B. Taxes and non taxes revenues
C. Operational and capital expenditures
D. Similar to Government Finance Statistics, as proposed by International Monetary Fund.
7. Historical cost principle is implemented for the transaction as the following:
A. Allocation of depreciation
B. Valuation of inventory
C. Purchase of capital asset
D. Recording asset from donation
8. An asset is classified as a current asset when:
A. In the form of cash or equivalent
B. The asset be realized, used and sold in not more than 12 months
C. Answers A and B are correct
D. Answers A and B are incorrect
9. An example of fixed assets in the governmental accounting system is the following, except:
A. Land
B. Computer and motorcycle
C. Roads and other infrastructure
D. Raw materials
10. Inventory is recorded as:
A. The standard cost
B. The estimated cost
C. The standard cost when that inventory is produced by the unit itself
D. The estimated cost when that inventory is produced by the unit itself
11. The accounting principle of liability recognition states that:
A. Liability is recognized when loan is received by governmental unit
B. Liability is recorded when due
C. Liability is reported as the realizable value
D. Liability is treated as current liability when ready to be paid
12. The balance sheet of governmental entities reports equity as the following:
A. In the credit side before long term debt
B. In the debit side when the amount is negative
C. In the amount of the difference of assets and liabilities
D. Never occurs in the balance sheet
13. The standard setting body for the governmental accounting system of Indonesia is:
A. BAKUN (Badan Akuntansi Keuangan Negara)
 B. The Committee of Government Accounting Standard
C. The Ministry of Finance
D. The Ministry of Finance for the Central Government.
14. A key underlying difference between government or non profit organization and business entities
is:
A. Businesses have scarce resources that must be allocated to different uses; government and non
profits are able to command sufficient resources to avoid the need for such allocations.
B. The absence of the profit motive in most government and non profit organizations.
C. The amount of restricted resources held by government and non profits.
D. The use of fund accounting by government and non profits.
15. The statement of revenues and expenditures covers:
A. Transfers, revenues and expenditures
B. Cash inflow and cash outflow
C. Revenues, expenditures, transfers and current surplus/deficit
D. Cash inflow, cash outflow and current surplus/deficit
16. Budgetary accounting will cover:
A. Estimated revenues and the allocation
B. Appropriation and the allotment
C. Financing budget
D. All answers are correct
17. Cash, in the cash flow statement, is classified as:
A. Operating and investing activities
B. Operating and financing activities
C. Investing and financing activities
D. Operating, investing and financing activities
18. Notes to the financial statements will report:
A. Changes in accounting principles
B. Resumes of accounting principles
C. Accounting basis
D. Periodicity
19. The requirement of investment to be recognized depends on the such criteria:
A. The investment has an economic benefit in the future
B. The cost of investment is reliable
C. The cost of investment is not recognized as an expenditures
D. All answers above are correct
20. Construction in progress will be valued as:
A. The direct cost to construct
B. The direct cost and all other cost related to the construction
C. The direct cost and all other liability incurred
D. The direct cost and interest related

JAWABAN :

1. D
2. B
3. A
4. D
5. C
6. C
7. C
8. C
9. D
10. C
11. A
12. C
13. B
14. B
15. C
16. D
17. D
18. A
19. D
20. B

AKUNTANSI KEUANGAN

1. A business must be treated as an economic unit separate from its owner and from other
businesses. This is known as:
a. a corporation
b. the objectivity principle
c. the entity concept*
d. the cost principle

2. All of the following statements are true except one. Which one is not true?
a. The revenue principle says to record revenue equal to the cash value of goods or
services transferred to a customer
b. The fiscal year of a business might end on June 30
c. According to matching principle, expenses must be recorded in the period in which cash
is paid*
d. The accrual basis of accounting generally presents more complete financial information
than does the cash basis of accounting

3. Reporting inventory at the lower of cost or market is a departure from the accounting principle
of
a. Full disclosure
b. Conservatism
c. Consistency
d. Historical cost*

4. An entry that results in a debit to an expense account and a credit to an associated liability
account is an example of which category of adjusting entries?
a. cash expense
b. prepaid expense
c. accrued expense*
d. depreciation expense

5. The Farid Luggage Company has a cash balance of Rp.31.422.040 on April 1, and made
deposits of Rp.1.428.460 during April. The April 30 unadjusted bank balance was
Rp.33.472.400. If the only reconciling item was checks which were outstanding, how much did
these outstanding checks total?
a. Rp.621.900*
b. Rp.2.050.360
c. Rp.1.428.260
d. Rp.806.560
6. Wina Co. uses the allowance method and estimates their uncollectible expense based on aging
the accounts at year end. Before the adjusting entry the Allowance account had a Rp.250.000
debit balance. Based on aged accounts receivable, the company estimates that Rp.1.675.000
will probably prove uncollectible. What adjusting journal entry should Wina make?
a. Uncollectible Account Expense 1.675.000
Allowance for uncollectible Accounts 1.675.000
b. Uncollectible Account Expense 1.925.000
Allowance for uncollectible Accounts 1.925.000*
c. Uncollectible Account Expense 1.425.000
Allowance for uncollectible Accounts 1.425.000
d. None of the above

7. Buddy Jam Corp. uses a periodic inventory system. Below is the data for the company for
February.

Units Cost/Unit Total

Beginning inventory 4 Rp.1.000 Rp.4.000
Purchases: February 5 5 2.000 10.000
February 10 7 2.000 14.000
February 13 8 3.000 24.000
February 20 6 4.000 24.000
Buddy sold 23 units during February at Rp.8.000 each

Under LIFO, Buddys ending inventory would be equal to:

a. Rp.10.000*
b. Rp.27.000
c. Rp.49.000
d. Rp.66.000

8. The Tara Trucking Company purchased a truck for Rp.190.000.000 and expects to drive the
truck a total of 150.000 kilometers over the next five years. The Company set the salvage value
on the truck at Rp.30.000.000. During the first year Tara actually drove the truck 51.000
kilometers and then 48.000 kilometers in year 2. What is the depreciation expense for the first
year if Tara uses double-declining-balance depreciation?
a. Rp.64.000.000
b. Rp.76.000.000*
c. Rp.64.600.000
d. Rp.54.400.000

9. A net decrease in Salaries Payable during the period indicates that:

a. salaries paid to employees exceeded Salary Expense recorded for the period*
b. Salary Expense recorded for the period exceeded salaries paid to employees
c. all salaries earned by employees during the period were paid to employees during the
current period
d. salaries paid to employees were equal to Salary Expense recorded for the period

10. Conceptually, interim financial statements can be described as emphasizing:

a. Reliability over relevance
b. Relevance over comparability
c. Timeliness over reliability*
 d. comparability over neutrality

11. In preparing consolidated financial statements of a parent company with a foreign subsidiary,
the foreign subsidiarys functional currency is the currency
a. In which the subsidiary maintains its accounting records
b. Of the country in which the subsidiary is located
c. Of the environment in which the subsidiary primarily generates and expends cash*
d. Of the country in which the parent is located

12. Gains and losses on the hedge asset/liability and the hedge instrument for a fair
value hedge will be recognized
a. In current earning*
b. On the balance sheet either as an asset or a liability
c. In other comprehensive income
d. On a cumulative basis from the change in expected cash flow from the
hedge instrument

13. The excess of the fair value of leased property at the inception of the lease over
its cost or carrying amount should be classified by the lessor as
a. Unearned income from a sales-type lease
b. Unearned income from a direct-financing lease
c. Manufacturers or dealers profit from a sales-type lease*
d. Manufacturers or dealers profit from a direct-financing lease

14. For a trouble debt restructuring involving only a modification of terms, which of
the following items specified by new terms would be compared to the carrying
amount of the debt to determine if the debtor should report a gain on
restructuring?
a. The amount of future cash payments designated as principal repayments
b. The total future cash payments*
c. The present value of the debt at the original interest rate
d. The present value of the debt at the modified interest rate

15. Data regarding Birowo Corp.s available-for-sale securities follow:

Cost Market value
Dec 31, 2003 Rp.150.000.000 Rp.130.000.000
Dec 31, 2004 Rp.150.000.000 Rp.160.000.000

Differences between cost and market values are considered temporary. Birowos
2004 other comprehensive income would be:
a. Rp.30.000.000*
b. Rp.20.000.000
c. Rp.10.000.000
d. Rp.0

16. On November 1, 2004, Morin Corp. issued Rp.800.000.000 of its ten-year, 8%

term bonds dated October 1, 2004. The bonds were sold to yield 10%, with total
proceeds of Rp.700.000.000 plus accrued interest. Interest is paid every April 1
and October 1. What amount should Morin report for interest payable in its
December 31, 2004 balance sheet?
a. Rp.11.666.667
b. Rp.10.666.667
 c. Rp.17.500.000
d. Rp.16,000.000*

17. A business combination is accounted for as a purchase.Which of the following

expenses related to the business combination should be included, in total, in the
determination of net income of the combined corporation for the period in which
the expenses are incurred?
Fees of finders Registration fees for
and consultans equity securities issued
a. Yes Yes
b. No Yes
c. Yes No
d. No No*

18. Cantika Company, started construction of a new office building on January

2003, and moved into the finished building on July 1, 2004. Of the buildings
Rp.2.500.000.000 total cost, Rp.2.000.000.000 was incurred in 2003 evenly
throughout the year. Cantikas incremental borrowing rate was 12% throughout
2003, and the total amount of interest incurred by the Company during 2003 was
Rp.102.000.000. What amount should the Company report as capitalized interest
at December 31, 2003?
a. Rp.120,000.000
b. Rp.102.000.000*
c. Rp.150.000.000
d. Rp.240.000.000

19. During 2004, Wendy Corp. decided to dispose of some of its older equipment
and machinery. By year-end December 2004, these assets had not been sold,
although the company was negotiating their sale to another company. On the
December 2004 balance sheet of Wendy Corp., this equipment and machinery
should be reported at
a. Carrying amount
b. Fair value
c. The lower of carrying amount or fair value
d. The lower of carrying amount or fair value less cost to sell*

20. CORO Company sells appliance service contracts agreement to repair

appliances for a two-year period. Coros past experience is that, of the total
dollars spent for repairs on service contracts, 40% is incurred evenly during the
first contract year and 60% evenly during the second contract year. Receipts
from service contracts for 2003 and 2004 are Rp.500.000.000 and Rp.
600.000.000. Receipts from contracts are credited to unearned service contract
revenue. Assume that all contract sales are made evenly during the year, what
amount should the company report as unearned service contract revenue at
December 31, 2004?
a. Rp.360.000.000
b. Rp.630.000.000*
c. Rp.470.000.000
d. Rp.480.000.000
 AUDITING

I. SOAL

1. Which of the following has primary responsibility for the fairness of the representations made
in financial statements?
a. Clients management.
b. Independent auditor.
c. Audit committee.
d. The Indonesian Institute of Accountant.

2. A primary purposes of the audit working papers is to

a. Aid the auditors in adequately planning their work.
b. Provide a point of reference for future audit engagements.
c. Support the underlying concepts included in the preparation of the basic financial
statements.
d. Support the auditors opinion.

3. Of the following statements about internal control, which one is not valid?
a. No one person should be responsible for the custody and the recording of an asset.
b. Transactions must be properly authorized before such transactions are processed.
c. Because of the cost-benefit relationship, a client may apply controls on a test basis.
d. Controls reasonably ensure that collusion among employee cannot occur.

4. In assessing sampling risk, the risk of incorrect rejection and the risk of assessing control risk
too high relate to the
a. Efficiency of the audit.
b. Effectiveness of the audit.
c. Selection of the sample.
d. Audit quality controls.

5. To test the existence assertion for recorded receivables, the auditors would select a sample
from the:
a. Sales order files.
b. Customer purchase orders.
c. Accounts receivable subsidiary ledger.
d. Shipping documents (bill of lading) file.

6. The primary objective of an auditors observation of clients physical inventory count is to:
a. Discover whether a client has counted a particular inventory item or group of items.
b. Obtain direct knowledge that the inventory exists and has been properly counted.
c. Provide an appraisal of the quality of the merchandise on hand on the day of the physical
count.
d. Allow the auditor to supervise the conduct of the count so as to obtain assurance that
inventory quantities are reasonably accurate.

7. Which of the following is an internal control weaknesses related to factory equipment?

a. Checks issued in payment of purchase of equipment are not signed by the controller.
b. All purchases of factory equipment are required to be made by the department in need of
the equipment.
c. Factory equipment replacements are generally made when estimated useful lives, as
indicated in depreciation schedules, have expired.
d. Proceeds from sales of fully depreciated equipment are credited to other income.
 8. A material departure from generally accepted accounting principles will result in auditor
consideration of:
a. Whether to issue an adverse opinion rather than a disclaimer of opinion.
b. Whether to issue a disclaimer of opinion rather than an except for opinion.
c. Whether to issue an adverse opinion rather than an except for opinion.
d. Nothing, because none of these opinions is applicable to this type of exception.

9. The COSO study defines the objectives of internal control in three broad categories. It also
discusses five components that make up the system of control. Which of the following is an
objective?
a. Effectiveness and efficiency of operations
b. Risk assessment
c. Control activities
d. Information and communication

10. The current level of risk, considering the performance of the controls in place, is the
a. Inherent risk
b. Control risk
c. Achievable risk
d. Detection risk

11. Which of the following is not a factor affecting inherent risk?

a. Nature of the clients business
b. Result of previous audit
c. The degree to which external users rely on the statements
d. Makeup of the population

12. In planning stage, an auditor does the procedures to obtain an understanding of internal
control. Which of the following is a type of evidence for such procedure?
a. Physical examination
b. Confirmation
c. Inquiries of the client
d. Analytical procedures

13. In performing the compliance test, which management assertions will not be tested by an
auditor?
a. Existence or occurrence
b. Completeness
c. Valuation or allocation
d. Presentation and disclosure

14. In considering materiality for planning purposes, an auditor believes that misstatements
aggregating Rp20.000.000 would have a material effect on an entitys income statement, but
that misstatements would have to aggregate Rp30.000.000 to materiality affect the balance
sheet. Ordinarily, it would be appropriate to design auditing procedures that would be
expected to detect misstatements that aggregate
a. Rp50.000.000
b. Rp30.000.000
c. Rp20.000.000
d. Rp10.000.000
15. In auditing the financial statements of PT Stan, Jujur, Ak., BAP discovered information
leading Jujur to believe that Stans prior years financial statements, which were audited by
Drs. Ceroboh, require substantial revision. Under these circumstances, Jujur should
a. Notify Stan audit committee and stockholders that the prior years financial statements
cannot be relied on.
b. Request Stan to reissue the prior years financial statements with the appropriate
revisions.
c. Notify Ceroboh about the information and make inquiries about the integrity of Stans
management.
d. Request Stan to arrange a meeting among the three parties to resolve the matter.

16. Drs. Sadar, BAP believes there is substantial doubt about the ability of PT Urus Stan to
continue as a going concern for a reasonable period of time. In evaluating Urus Stans plan for
dealing with the adverse effects of the future conditions and events, Sadar most likely would
consider, as a mitigating factor, Urus Stans plan to
a. Accelerate research and development projects related to future products.
b. Accumulate treasury stock at prices favorable to Urus Stans historic price range.
c. Purchase equipment and production facilities currently being leased.
d. Negotiate reduction in required dividends being paid on preferred stock.

17. A client acquired 25% of its outstanding capital stock after year end and prior to completion
of the auditors field work. The auditor should
a. Advise management to adjust the balance sheet to reflect the acquisition.
b. Issue pro forma financial statements giving effect to the acquisition as if it had occurred
at year end.
c. Advise management to disclose the acquisition in the notes to the financial statements.
d. Disclose the acquisition in the opinion paragraph of the auditors report.

18. In the auditors report, the principal auditor decides not to make reference to another CPA
who audited a clients subsidiary. The principal auditor could justify this decision if, among
other requirements, the principal auditor
a. Issue an unqualified opinion on the consolidated financial statements.
b. Learns that the other CPA issued an unqualified opinion on the subsidiarys financial
statements.
c. Is unable to review the audit programs and working papers of the other CPA.
d. Is satisfied as to the independence and professional reputation of the other CPA.

19. An auditor most likely would introduce test data into a computerized payroll system to test
controls related to the
a. Existence of unclaimed payroll checks held by supervisors.
b. Early cashing of payroll checks by employees.
c. Discovery of invalid employee I.D. numbers.
d. Proper approval of overtime by supervisors.
20. Six months after issuing an unqualified opinion on audited financial statements, an auditor
discovered that the engagement personnel failed to confirm several of the clients material
accounts receivable balances. The auditor should first
a. Request the permission of the client to undertake the confirmation of accounts
receivable.
b. Perform alternative procedures to provide a satisfactory basis for the unqualified opinion.
c. Assess the importance of the omitted procedures to the auditors ability to support the
previously expressed opinion.
d. Inquire whether there are persons currently relying, or likely to rely, on the unqualified
opinion.
II. JAWABAN

1. a 11. c
2. d 12. c
3. d 13. d
4. a 14. c
5. c 15. d
6. b 16. d
7. a 17. c
8. b 18. d
9. a 19. c
10. b 20. c

SISTEM AKUNTANSI

1. To distribute direct wages to specified order company maintans a record of.

(a) the total hours worked by the employee.
(b) attandance time.
(c) production.
(d) check.

2. In repetitive order production, the production is controlled by :

(a) issuing a shedule of quantities desired and obtaining report periodically.
(b) product are manufactured on production order
(c) in Industry where product is made according to a formula, batch order are issued describing the
quantities of product made, the formula and quantity used.
(d) making job order sheet

3. In the job order cost system, cost of product are collected.

(a) for each order and unit cost is determined by deviding the total cost of an order by total
unit produced.
(b) for all product during a period.
(c) And unit cost can be determined by deviding total cost of product for a period by the number of
unit producted in the same period.
(d) generally used in conjuction with repetitive order production control system.

4. Purchase requisation is :
(a) a form written by a department head or authorized person to ask the Purchasing
Departement. to buy goods specified.
(b) a form written by Purchasing Departement asking prospective supplies to send price
information about goods specified.
(c) order issued to an outside supplier requesting shipment of specified goods.
(d) notice written by Receiving Department describing that the goods purchased has been received.

5. In most cases of computer fraud, (_) is the metod used.

(a) program alteration.
(b) input manipulation
(c) direct file alteration
 (d) misappropriation or theft of computer resources.

6. Which of the following is an active threat to computer security?

(a) computer sabotage
(b) earthquake
(c) equipment failures
(d) power outages

7. Which of the following is an effective internal accounting control over accounts receivable?
(a) Only people who handle cash receipts should be responsible for preparing documents that
reduce accounts receivable balances.
(b) Responsibility for approval of the write off of uncollectible accounts receivable should be
assigned to the cashier.
(c) Balances in subsidiary accounts receivable ledger should be reconciled to the general ledger
control account once a year, preferably at year end.
(d) The billing function should be assigned to people other than those responsible for maintaining
accounts receivable subsidiary records.

8. Which of the following would be the best protection for a company that wishes to prevent the
lapping of trade accounts receivable?
(a) Segregate duties so that the bookeper in charge of the general ledger has no access to incoming
mail.
(b) Segregate duties so that no employee has access to both checks from customer and currency
from daily cash receipts.
(c) Have costumers send payments directly to the companys depository bank.
(d) Request that costumers payment checks be made payable to the company and addressed to the
treasurer.

9. Which of the following is a characteristic associated with just-in-time (JIT) production?

(a) parts are produced only as they are required in subsequent operations.
(b) a constant flow production rate.
(c) both a and b.
(d) neither a and b.

10. In a production control application system, which of the following departments should receive
copies of production orders?
(a) inventory control.
(b) cost accounting.
(c) purchasing.
(d) general ledger.

11. Which of the following errors would probably be corrected by key verifications of data input ?.
(a) A salesperson manually enters an incorrect product number on a sales invoice, which is
subsequently given to a data entry operator in the information system departments for key
transcription to machine-readable format.
(b) A data entry operator in the information system departments mistypes a product
number on a sales invoice when keying the documents to machine-readable format.
(c) Both a and b.
(d) Neither a nor b.

12. Accumulating source documents into group prior to processing is a characteristic of

(_____________)
 (a) batch processing.
(b) on-line, real time processing.
(c) Both a and b.
(d) Neither a nor b.

13. Which of the following function work directly with users to identify their specific information
requirements:
(a) operations.
(b) system design.
(c) system analysis.
(d) programming.

14. What document is a translation of the conceptual design into the detailed systems performance
and functional specifications necessary to begin the physical design of the system?
(a) logical flow diagram
(b) user specification
(c) system analysis report
(d) systems design report

15. Which of the following should be responsible for the overall planning and control of the system
development effort of the company?
(a) steering committee.
(b) top management.
(c) chief system analyst.
(d) controller.
16. Which of the following design criteria holds that it must be possible to actually implement the
design specification?
(a) feasibility.
(b) cost-effectiveness.
(c) standardization.
(d) integration.

17. Which of the following types of reports assist in acquiring and allocating resources for future
operations?
a. master reports.
b. control reports.
c. operational reports.
d. planning reports.

18. Microcomputer spreadsheet software is a common example of which of the following?

(a) expert system
(b) decision support system.
(c) executive information system.
(e) reporting system

19. The concept of internal control is based 0n two premises : responsibility and reasonable assurance.
The ultimate responsibility for control remains with :
(a) management and Board of Director
(b) External Auditor
(c) Internal Auditor.
(d) employee
20. Control environment set the overall tone of the organization and influences the control
conciousness. Below are factors included in the control environtment, except :

Management philosophy and operating style

Organisational structure
Integrity and ethical values
Organization goal

21. These are the component of internal control, except :

Control environment
Risk Management
Control activity
Monitoring

22. There are two phase in system analysis :

Survey of any existing system, identify the information needed, identify the system
requirement to satisfy the information need of user, preparation of a systems analysis
report.
Survey of any existing system, preparation of a systems analysis report identify the information
needed, identify the system requirement to satisfy the information need of user,.
Identify the system requirement to satisfy the information need of user, survey of any existing
system, preparation of a systems analysis report identify the information needed, ,.
Survey of any existing system, preparation of a systems analysis report identify the information
needed, identify the system requirement to satisfy the information need of user,.implement the
systems

COST

1. Whichs one of these costs below that is not part of prevention Costs :
A. cost of designing high-quality products
B. cost of inspecting and testing materials *
C. cost of workers training
D. cost of implementing production system

2. Operations of Manufacturing Company for the year produced a Margin of Safety (M/S) ratio of
20% and a Contribution Margin (CM) Ratio of 60%. Fixed cost amounted to Rp
30.000.000.000. What the profit of this company?
A. Rp. 6.500.000.000
B. Rp. 7.500.000.000 *
C. Rp. 8.500.000.000
D. Rp. 9.500.000.000

Question no. 3 - 6
Heavy Tools Company uses process costing system in its two production departments; X and Y.
Production data during this month shows that there is 3.000 unit transferred from Department X to
Department Y as completed units. In Department X, there is 800 units Work in Process as
beginning inventory which is 60% complete with respect to materials, 80% complete with respect
to conversion cost. For Ending inventory, there is 500 units Work in Process which is 80%
complete with respect to prime cost and 90% complete with respect to overhead.
3. Assuming the company uses process costing with AVERAGE method, what is total equivalent
unit with respect to material in Department X this month?
A. 3.250
B. 3.300
C. 3.400 *
D. 3.850

4. Assuming the company uses process costing with AVERAGE method, what is equivalent unit
with respect to overhead in Department X this month?
A. 3.350
B. 3.450 *
C. 3.750
D. 3.800

5. Assuming the company uses process costing with FIFO method, what is total equivalent unit
with respect to labor in Department X this month?
A. 2.760 *
B. 2.810
C. 2.920
D. 3.150
6. Assuming the company uses process costing with FIFO method, what is equivalent unit with
respect to overhead in Department X this month?
A. 2.760
B. 2.810 *
C. 2920
D. 3.150

Question no. 7 - 8
Assume an oil company produces joint product A, B, C, and D with a joint cost of Rp 120.000.000.
Quantities produced are A, 20.000 units; B, 15.000 units; C, 10.000 units; and D, 15.000 units.
Selling price for A, B, C, and D at split-off point are Rp 1.200, Rp 3.200, Rp 7.200, and Rp 6.400
respectively.
7. What is the production cost of product B using allocation joint cost under Market Value
method?
A. Rp 15.000.000
B. Rp 18.000.000
C. Rp 21.000.000
D. Rp 24.000.000 *

8. What is the production cost of product D using allocation joint cost under Average Unit Cost
method?
A. Rp 40.000.000
B. Rp 30.000.000 *
C. Rp 20.000.000
D. Rp 10.000.000

Question no. 9 - 11
Kia Spare Parts company operates with two producing department, Pr.1 and Pr.2, and two service
department, Sr.1 and Sr.2. Actual factory overhead before distribution of service department costs,
together with usage of service from the service department is as follows:
 Overhead cost before distribution of
III. Department service department costs .
Services
provided by

Sr.1 Sr.2
Pr.1 Rp 30.000.000 40% 20%
Pr.2 Rp 20.000.000 50% 40%
Sr.1 Rp 7.200.000 - 40%
Sr.2 Rp 9.000.000 10% -

9. What is total cost of department Pr.1 after distribution of service department costs by using
DIRECT method?
A. Rp 34.400.000
B. Rp 35,300.000
C. Rp 36.200.000 *
D. Rp 37.100.000
10. What is total cost of department Pr.1 after distribution of service department costs by using
STEP DOWN method? (beginning with Department Sr.2)
A. Rp 34.700.000
B. Rp 35.200.000
C. Rp 36.600.000 *
D. Rp 37.800.000

11. What is total cost of department Pr.2 after distribution of service department costs by using
SEQUENTIAL method?
A. Rp 29.675.000 *
B. Rp 32.125.000
C. Rp 33.455.000
D. Rp 36.525.000

Question no. 12 - 13
For producing 10.000 units product ABC requires 1.504 standard hours with standard rate per hour is
Rp 12.000. If the actual hours worked are 1.632 hours, and actual labor rate is Rp 12.500 per hour,
then

12. What is Labor Rate Variance?

A. Rp 923.000 Favorable
B. Rp 912.000 Unfavorable
C. Rp 827.000 Favorable
D. Rp 816.000 Unfavorable *
13. What is Labor Efficiency Variance?
A. Rp 1.825.000 Favorable
B. Rp 1.833.000 Unfavorable
C. Rp 1.673.000 Favorable
D. Rp 1.536.000 Unfavorable *

Question no. 14 - 15
A local electronic company is considering the purchase of a Rp 400.000.000 machine, which will be
depreciated on the straight-line basis over an 8-year period with no salvage value both book and tax
purposes. The machine is expected to generate an annual pretax cash inflow of Rp 150.000.000. The
income tax rate is 40%.

14. What is the payback period?

A. 2,16 years
B. 2,67 years
C. 3,16 years
D. 3,63 years *

15. What is the accounting rate return on the original investment?

A. 12%
B. 15% *
C. 17%
D. 21%

16. During 2004, PT Agro Industri had a net income of Rp 2.000.000.000. Net sales were Rp
16.000.000.000 and total capital employed was Rp 20.000.000.000. What is the rate of return
on capital employed?
A. 40%
B. 25%
C. 15%
D. 10% *
17. There are basic method used in pricing intracompany transfer, except :
A. Cost Allocation Transfer Pricing *
B. Market-base Transfer Pricing
C. Arbitrary Transfer Pricing
D. Negotiated Transfer Pricing

18. In Activity-Based Costing system, one example of activity driver in product level is....
A. number of design changes *
B. direct labor hours
C. portion of electricity
D. squared footage occupied

19. The result of subtracting variable cost from the sales price which indicate the amount available
for the recovery of fixed cost and for profit is
A. margin of safety
B. contribution margin *
C. gross margin of sales
D. marginal income

20. A pattern in which the observations around the regression line appear to be correlated with one
another is
A. Serial correlation *
B. Coefficient correlation
C. Coefficient determination
D. Multicollinearity
 SISTEM

1. The basic purpose of an accounting system is to:

a. Develop financial statements in conformity with generally accepted accounting principles.
b. Provide as much useful information to decision makers as possible, regardless of cost.
c. Record changes in the financial position of an organization by applying the concepts of
double-entry accounting.
d. Meet an organization's need for accounting information as efficiently as possible.

2. The process of control must have meaning and credibility, knowledge and ability to keep an organization in control.
This process consists of five stages. Identify the correct order of these five stages.
a. It does not matter which order these stages are completed, just that they occur.
b. Planning, Execution, Monitoring, Evaluation, Correcting.
c. Evaluation, Planning, Execution, Correcting, Monitoring.
d. Planning, Correcting, Execution, Monitoring, Evaluation.

3. One of primary importance in an internal control system is _______________

a. segregation of duties
b. delegating the accounting function and the finance function to the same person to achieve
greater efficiency
c. duplicating of work to ensure accuracy
d. limiting control activities to a small, but important, range of activities

4. Who is usually responsible for the accounting function?

a. treasurer
b. chief information officer (CIO)
c. director of internal audit
d. controller

5. What is a general objective of systems analysis?

a. to increase the quantity of information
b. to minimize cost where appropriate
c. to maximize the use of computers
d. to increase the use electronic data interchange (EDI)

6. Which chart or diagram that identifies the overall or broad flow of operations in a system?
a. program flowchart
b. systems flowchart
c. data flow diagram
d. forms distribution chart

7. What shows the distribution of multiple-copy forms within an organization?

a. systems flowchart
b. block flowchart
c. data flow diagram
d. forms distribution chart
8. When analyzing the existing system, a system analyst shall conduct the work measurement. What is the first step in
work measurement?
a. Adjust time estimates for idle time and similar considerations.
b. Obtain time estimates for performing the tasks.
c. Identify the tasks.
d. Analyze requirements.

9. In which journal would a company record a cash sale?

a. sales journal
b. cash receipts journal
c. general journal
d. purchase journal

10. What is a form of data processing in which a company files source documents rather than transcribing or posting them
to other media?
a. one-write systems
b. writing boards
c. direct processing
d. ledgerless bookkeeping

11. What are the physical evidence of inputs into the transaction processing system?
a. journals
b. ledgers
c. source documents
d. registers

12. In which journal would a company record purchases made on account?

a. sales journal
b. purchase journal
c. general journal
d. cash disbursements journal

13. Among the following activities, ________________ refers to the process of extracting and accumulating detailed
information from transactional data.
a. source documents
b. distribution
c. data validation
d. direct processing

14. What type of control acts to uncover errors and fraud after they have occurred?
a. preventative controls
b. detective controls
c. corrective controls
d. general controls
15. In a computer based accounting system, the control mechanism which validates inputs belongs to the following type
of controls:
a. feed forward controls
b. feed back controls
c. application control
d. general controls

16. What limits the initiation of a transaction or performance of an activity to selected individuals?
a. authorization
b. approval
c. collusion
d. monitoring

17. _____________________ consists of the methods and records established to identify, assemble, analyze, classify,
record, and report an organization's transactions.
a. forensic accounting
b. internal auditing
c. accounting system
d. operational audit

18. What exists when the responsibilities for authorization, custody, and record keeping for handling and processing of
transactions are separated?
a. collusion
b. embezzlement
c. operational audit
d. segregation of duties

19. __________________ are the policies and procedures that help ensure that employees carry out management
directives.
a. accounting controls
b. application controls
c. administrative controls
d. general controls

20. The control objective that requires that vendors be authorized in accordance with management's criteria is a part of
which cycle of business activity?
a. revenue cycle
b. expenditure cycle
c. production cycle
d. finance cycle

21. In a computer based accounting system, what is created after a company has created and processed an order?
a. a sales order
b. a delivery document.
c. a dummy record
d. a customer master record

22. Who should approve prices entered on sales orders?

a. the salesperson
b. an organizational function dependent on the sales order function
c. management
d. the internal auditor
23. What is necessary to establish the terms of sale to a new customer?
a. a credit memo
b. a credit check
c. a remittance list
d. a confirmation letter

24. What documents accompanying payments received?

a. a credit memo
b. a credit check
c. a remittance list
d. a dummy record

25. Who should receive the periodic bank statement?

a. the controller
b. the accounts receivable department
c. internal audit
d. management

26. What can a company use to restrict a buyer's options to those vendors who have been found reliable, financially sound,
and free of conflicts of interest?
a. vouchers
b. a blind count
c. approved vendor lists
d. a request for quotation

27. What identifies a vendor, confirms goods ordered, and specifies quantities and prices?
a. receiving report
b. approved vendor list
c. purchase order
d. purchase requisition

28. What department is responsible for initiating payments to vendors?

a. payroll
b. purchasing
c. accounts payable
d. internal audit

29. In a computer based accounting system, a company implements the paper-less method in recording transactions. As a
consequence, the company losses its audit trails. How can a company compensate for the loss of paper-based audit
trail for internal control purposes?
a. use transaction logs
b. use table lookups
c. use a valid code check
d. use a check digit
30. What is a system in which salespersons use an optical scanner to scan the barcoded merchandise for sale, as well as
the customer's credit card or debit card.

a. on-line manual data entry system

b. automated POS system
c. batch-oriented processing system
d. EDI

31. What is an advantage of an on-line, real-time system over a batch processing system?
a. lower costs
b. quick response to inquiries
c. simplicity of systems operation
d. less concern about an audit trail

32. In what type of processing system are transactions entered in groups?

inquiry/response systems
on-line, real-time processing systems.
direct processing systems.
batch-oriented processing systems

33. The objectives of systems analysis include which one of the following items?
a. the making flow charts of existing systems
b. the observation of the existing system
c. the identification of highest priority subsystems
d. the conducting of a formal interview

34. When developing a new accounting system, a company may consider to purchase a software package rather than
develop a new software. Which of the followings is an advantage of using purchased software packages?
a. They often match company needs exactly.
b. They allow in-house programmers to make changes.
c. They are cheaper than in-house developed software.
d. No evaluation of the software is required.

35. The following documents describes the order in which the activities of a systems implementation project must be
performed.
a. Gantt chart
b. chargeback systems
c. cost recovery systems
d. network diagram

36. Which approach to implementing a system involves switching to the new system and abandoning the old system at a
fixed point in time?
a. direct approach
b. parallel operation
c. modular conversion
d. phased-in approach

37. In designing a new system, each system analyst usually conduct a review to various reports produced by the existing
system. One of the reports is regarding budgets. Which type of reports typically take the form of budgets?
a. control reports
 b. operational reports
c. planning reports
d. status reports

38. The followings are subsystems in a service firms (for example: a public accounting firm), EXCEPT ___________
a) Accounting system proper
b) Cost and production accounting system
c) Sales order and cash receipt
d) Purchase and cash disbursement

39. The existence of good internal control is best represented by _____________________:

a) annual audit conducted by a public accounting firm
b) the existence of organization structure
c) the existence of procedures
d) the implementation of sound business conducts (praktek yang sehat)

40. The internal check is____________________

a) A mechanism to ensure accurate calculations by conducting footing-cross footing control.
b) A review conducted by internal auditor to ensure that all transactions are authorized.
c) A procedure to ensure that all transactions are supported by valid documents.
d) A procedure established in such a way that the output of one job is compared by the output of
other jobs.

41. The following task should be segregated among employees:

a. Petty cash cashier's task and secretarial jobs
b. General cashier task and petty cash task
c. Monitoring attendance time keeping and allocating labor cost into production cost.
d. Posting to the general ledger and to the subsidiary ledger

42. Internal control system will not work effectively in the following situation:
a. The salaries of employees are very low
b. A collusion are conducted by employees across the company
c. Internal audit division does not exist.
d. The owner of the company actively leads day-to-day operations.

43. In the complete pre-billing procedure, ______________

a. Invoices are issued before the products are ordered by customer
b. Invoices are prepared and issued before the products are shipped
 c. Invoices are issued after the products are shipped but before the payments are received
d. Invoices are prepared before the products are shipped, but issued to the customer after the
product are shipped.

44. The main difference between a normal receiving system and the blind receiving system are _____________
a) no body, including receiving department, knows the quantity of the products to be received
b) receiving department does not know the schedules of product arrivals
c) Warehousing department (store room) does not know the price of the products
d) Certain copies of purchase orders does not show the quantities of products being ordered.

KUNCI JAWABAN
No Jawaban Keterangan
1. D MUDAH
2. A SULIT
3. D sedang
4. D sedang
5. B sedang
6. B sedang
7. D mudah
8. C sulit
9. B mudah
10. D sedang
11. C sedang
12. B mudah
13. B sedang
14. B sedang
15. C sedang
16. A sedang
17. C mudah
18. D sedang
19. C sedang
20. B sedang
21. B sedang
22. C sedang
23. B mudah
24. C mudah
25. A sedang
26. C sulit
27. C sedang
28. C sedang
29. A sedang
30. B sedang
31. B sedang
32. D sedang
33. C sulit
34. C sedang
35. A sedang
36. A sedang
37. C mudah
38. B mudah
39. D sedang
40. D sedang
41. D sedang
42. B sedang
43. D sedang
44. D sedang

AUDIT

1. The following internal control policy or procedure is related to the management assertion
of completeness except
a. Use perpetual records to control inventories
b. Establish appropriate physical controls over inventories
c. Use appropriate procedures for taking the physical inventories
d. Analyze variances from standard cost.

2. Segregation duties over purchases and custody of inventories may affect the following
assertion except
a. Completeness
b. Presentation and disclosures
 c. Valuation or allocation
d. Existences or occurrence

3. The following situation can considered as a fraud except

a. Purchases journal close early with this periods purchases recorded as having
occurred in subsequent period.
b. Goods are ordered but delivered to inappropriate address and stolen
c. A disbursement is made to pay an invoice for goods that have not been received.
d. A bookkeeper prepares a check to him self and records it as having been issued to a
major supplier.

4. Control activities generally relate to policies and procedures that pertain to

a. Adequate segregation of duties
b. Independent checks on performance
c. Physical control over assets and records
d. All of the above

5. Control environment consists of the following sub-components, except

a. Accounting systems
b. Integrity and ethical values
c. Commitment to competence
d. Participation of BOD or audit committee

6. Misstatement of inventories or cost of good sold can be detected by

a. Cost of good sold divided by inventories
b. Cost of good sold divided by gross sales
c. Total purchase divided by inventory
d. Total purchase divided by cost of good sold

7. The primary purpose of analytical procedures during completion phase of an audit

engagement:
a. To reduce detailed tests
b. To assess going concern
c. To indicate possible misstatement
d. To understand clients business and industry

8. The auditor concludes that entity is not auditable after considering

a. The integrity of the management
b. The adequacy of accounting records
c. Both a and b
d. None of the above

9. The following are criteria to determine the competence of evidence, except:

a. Independence of provider
b. Persuasiveness and sufficiency
c. Effectiveness of internal control
d. Objectivity of evidence

10. The audited financial statement are the responsibility of

a. The shareholders
b. The auditor
c. The management
 d. The audit committee

11. The primary purpose of analytical procedures during testing phase of an audit engagement:
a. To indicate possible misstatement
b. To reduce detailed tests
c. To assess going concern
d. To understand clients business and industry

12. Independence is more questionable when auditors are appointed by

a. The stockholders
b. The board of directors
c. The president director
d. The audit committee

13. List inventories physical examination is accurately compiled and the total are properly
included in the inventory accounts. Primary audit objective is
a. Existence/occurrence
b. Valuation
c. Presentation
d. Completeness

14. When the auditors express an adverse opinion:

a. They do not have to accumulate sufficient evidence
b. They do not have sufficient evidence
c. They must have accumulated sufficient evidence
d. They have limited scope imposed by the management

15. After accumulating sufficient evidence, the auditors can express one of the following
opinions except:
a. A disclaimer of opinion
b. Unqualified opinion
c. Qualified opinion
d. Adverse opinion

16. For effective internal control, the accounts payable department should compare the
information on each vendors invoice with the
a. Receiving report and the purchase order
b. Receiving report and the voucher
c. Vendors packing slip and the purchase order
d. Vendors packing slip and the voucher.

17. The following situation can be considered as a fraud expect:

a. A bookkeeper prepares a check to himself and records it as having been issued to a
major supplier
b. A disbursement is made to pay an invoice for goods that have not been received
c. Goods are ordered but delivered to an inappropriate address and stolen
d. Purchases journal closed early with this periods purchases recorded as having
occurred in subsequent period
18. The following is valuation audit objective for substantive test of payroll except:
a. Test computation of compensation under profit-sharing or bonus plans
b. Obtain a summary of amounts of officers compensation and trace to authorization
c. Test commission earnings
 d. Test pension obligations

19. In the audit of a manufacturing company of medium size, which of the following areas
would you expect to require the least amount of audit time?
a. Owners equity
b. Revenue
c. Assets
d. Liabilities

20. To document the understanding of the internal control, the auditors may use the following
methods
a. Narratives
b. Fowcharts
c. Internal control questionnaires
d. All of the above

KUNCI JAWABAN

NO JAWABAN NO JAWABAN
1 D 11 A
2 C 12 C
3 A 13 A
4 D 14 C
5 A 15 A
6 B 16 B
7 C 17 A
8 B 18 D
9 B 19 A
10 C 20 D

AKUNTANSI KEUANGAN MENENGAH

1. A review of the December 31,1999, financial statements of Danapoll Corporation revealed that
under the caption extraordinary losses, Danapoll reported a total of $260,000. Further
analysis revealed that the $260,00 in losses was comprised of the following items :
a) Danapoll recorded a loss of $50,000 incurred in the abandonment of equipment
formerly used in the business.
b) In an unusual and infrequent occurrence ,a loss of $75,000 was sustained as a result
of hurricane damage to a warehouse.
c) During 1999 ,several factories were shut down during a major strike by employees.
Shut down expenses totaled $120,000.
d) Uncollectible accounts receivable of $15,000 were written off as uncollectible.
Ignoring income taxes, what amount of loss should Danapoll report as extraordinary on its
1999 statement of income ?

a. $50,000
b. $135,000
c. $75,000
d. $260,000

2. Arthamedia Company had the following account balances at December 31, 1997 :
 Cash in banks $2,250,000
Cash on hand 125,000
Cash legally restricted for additions to plant (expected to be
disbursed in 1998) 1,600,000

Cash in banks includes $600,000 of compensating balances against short-term borrowing

arrangements. The compensating balances are not legally restricted as to withdrawal by
Arthamedia. In the current assets section of Arthamedias December 31, 1997 balance sheet,
total cash should be reported at

a. $1,775,000
b. $2,250,000
c. $2,375,000
d. $3,975,000

3. On December 31, 1988, Wahana Company purchased marketable equity securities as a

temporary investment. Pertinent data are as follows :

Security Cost Market value at 12/31/89

A $ 39,000 $ 36,000
B 50,000 55,000
C 96,000 85,000

On December 31,1989 Wahana reclassified its investment in security C from current to non
current because Wahana intends to retain security C as a long-term investment. What total
amount of loss on its securities should be included in Wahanas income statement for the year
ended December 31, 1989 ?
a. $ 0
b. $ 9,000
c. $ 11,000
d. $ 14,000

4. On January 1, 1988 Kencana Company sold goods to Anugerah Company. Anugerah signed a
non interest bearing note requiring payment of $60,000 annually for seven years. The first
payment was made on January 1,1988. The prevailing rate of interest for this type of note at
date of issuance was 10%. Information on present value factors is as follows :

Periods Present value of 1 at 10% Present value of ordinary

annuity of 1 at 10%
6 0.56 4.36
7 0.51 4.87

Kencana should record sales revenue in January 1988 of :

a. $321,600
b. $292,200
c. $261,200
d. $214,200

5. Wardati Distribution Company has determined its December 31, 1997, inventory on a FIFO basis
at $200,000. Information pertaining to that inventory follows :

Estimated selling price $204,000

 Estimated cost of disposal 10,000
Normal profit margin 30,000
Current replacement cost 180,000

Wardati records losses that result from applying the lower of cost or market rule. At December
31,1997, the loss that Wardati should recognize is :
a. $0
b. $6,000
c. $14,000
d. $20,000

6. Laguna Motor Sales exchanged a car from its inventory for a computer to be used as a long-
term asset. The following information relates to this exchange that took place on July 31, 1986 :

Carrying amount of the car $30,000

Listed selling price of the car 45,000
Fair value of the computer 43,000
Cash difference paid by the Laguna 5,000
On July 31,1986, what amount of profit should Laguna recognized on this exchange ?
a. $0
b. $8,000
c. $10,000
d. $13,000

7. Kresna company started construction of a new office building on January 1, 1984, and moved
into the finished building on July 1, 1985. Of the buildings $2,500,000 total cost, $2,000,000
was incurred in 1984 evenly throughout the year. Kresnas incremental borrowing rate was 12%
throughout 1984 and the total amount of interest incurred by Kresna during 1984 was $102,000.
What amount should Kresna report as capitalized interest at December 31, 1984 ?
a. $102,000
b. $120,000
c. $150,000
d. $240,000

8. Ifumi, Inc. has a fiscal year ending April 30. On May 1, 1982, Ifumi borrowed $10,000,000 at
15% to finance construction of its own building. Repayments of the loan are to commence the
month following completion of the building. During the year ended April 30, 1983, expenditures
for the partially completed structure totaled $6,000,000. These expenditures were incurred
evenly throughout the year. Interest earned on the unexpended portion of the loan amounted
to $400,000 for the year. How much should be shown as capitalized interest on Ifumis financial
statements at April 30, 1983 ?
a. $0
b. $50,000
c. $450,000
d. $1,100,000

9. On July 1, 1982 Ranger corporation issued 2,000 of its 9%, $1,000 callable bonds for
$1,920,000. The bonds are dated July 1, 1982 and mature on July 1, 1992. Interest is payable
semiannually on January 1 and July 1. Ranger uses the straight-line method of amortizing bond
discount. The bonds can be called by the issuer at 101 at any time after June 30, 1987. On July
1, 1988, Ranger called in all of the bonds and retired them. Before income taxes, how much
loss should Ranger report on this early extinguishment of debt for the year ended December 31,
1988 ?
a. $20,000
 b. $52,000
c. $68,000
d. $100,000

10. In packages of its products, the Gizi Food Company includes coupons which may be presented
to grocers for discounts on certain products of Gizi on or before a stated expiration date. The
grocers are reimbursed when they send the coupons to Gizi. In Gizis experience, 40% of such
coupons are redeemed, and one month generally elapses between the date a grocers receives a
coupon from consumer and the date Gizi receives it. During 1997, Gizi issued two series of
coupons as follows :
Issued on Total Value Consumer Amount disbursed
expiration date as Dec.31,1997
Jan.1,1997 $100,000 June 30,1997 $34,000
July 1,1997 120,000 Dec.31,1997 40,000
Gizis December 31,1997 balance sheet should include a liability for unredeemed coupons of :

a. $0
b. $8,000
c. $14,000
d. $48,000

11. On March 1, 1988, Chudiyan Corp. issued $1,000,000 of 10% nonconvertible bonds at 103, due
on February 28, 1998. Each $1,000 bond was issued with 30 detachable stock warrants, each of
which entitled the holder to purchase, for $50, one share of Chudiyan common stock, par value
$25. On March 1, 1988, the quoted market value of each warrant was $4. What amount of the
bond issue proceeds should Chudiyan record as an increase in stockholdersequity ?

a. $120,000
b. $90,000
c. $30,000
d. $0

12. On December 31,1986 Endras Company leased a machine from Ryan for a ten-year period
expiring December 30, 1996. Equal annual payments under the lease are $100,000 and are due
on December 31 of each year. The first payment was made on December 31,1986 and the
second payment was made on December 31, 1987. The present value at December 31, 1986 of
the ten lease payments over the lease term discounted at 10% was $676,000. The lease is
appropriately accounted for as capital lease by Endras. In its December 31,1987 balance sheet,
Endras should report a total lease liability of
a. $800,000
b. $643,600
c. $533,600
d. $518,400

Items 13 and 14 are based on the following data :

Ambalat Co. bought a machine on January 1,1981, for $24,000, at which time it had an
estimated useful life of eight years with no residual value. Straight-line depreciation is used for all
of Ambalats depreciable assets. On January 1,1983, the machines estimated useful life was
determined to be only six years from the acquisition date. Accordingly, the appropriate
accounting change was made in 1983. The direct effects of this change were limited to the effect
on depreciation and the related provision for income tax. Ambalats income tax rate was 40% in
all the affected years.
 13. In Ambalats 1983 financial statements, how much should be reported as the cumulative effect
on prior years because of the change in the estimated useful life of the machine ?
a. $0
b. $1,200
c. $2,000
d. $2,800

14. For the year ended December 31,1985 how much depreciation expense should Ambalat record
for this machine ?
a. $0
b. $2,700
c. $4,500
d. $6,300

15. Mustika Corp.s stockholders equity at December 31,1988 comprised the following :

6% cumulative preferred stock, $100 par; liquidating

value $110 per share; authorized, issued, and
outstanding 50,000 shares $5,000,000
Common stock, $5 par; 1,000,000 shares authorized;
issued and outstanding 400,000 shares 2,000,000
Retained earnings 1,000,000

Dividends on preferred stock have been paid through 1987 but have not been declared for
1988. At December 31,1988, Mustikas book value per common share was
a. $5.5
b. $6.25
c. $6.75
d. $7.5

16. On December 31, 1985 and 1986,Tifani corporation had 100,000 shares of common stock and
50,000 shares of non cumulative and nonconvertible preferred stock issued and outstanding.
Additional information is as follows :

Stockholders equity at Dec.31,1986 $4,500,000

Net income year ended Dec.31,1986 1,200,000
Dividends on preferred stock year ended Dec.31, 1986 300,000
Market price per share of commonstock at Dec.31,1986 72

The price-earnings ratio on common stock at December 31, 1986 was

a. 5 to 1
b. 6 to 1
c. 8 to 1
d. 9 to 1

Items 17 and 18 are based on the following data :

Information relating to the capital structure of Talang Corporation is as follows :
December 31
Outstanding shares of : 1983 1984
Common stock 90,000 90,000
Preferred stock convertible into 30,000
shares of common 30,000 30,000
10% convertible bonds, convertible into
 20,000 shares of common $1,000,000 $1,000,000

During 1984 Talang paid $45,000 dividends on the preferred stock, which is considered a common
stock equivalent. The convertible bonds are not considered common stock equivalents. Talangs net
income for 1984 was $980,000 and the income tax rate was 40%

17. For the year ended Dec.31,1984 primary earnings per share is
a. $10.89
b. $10.39
c. $8.17
d. $7.79

18. For the year ended Dec.31,1984 fully diluted earnings per share is
a. $9.82
b. $8.29
c. $7.71
d. $7.43

19. Pelangi corporation began operation on January 1,1987, and appropriately uses the installment
method of accounting. Data available for 1987 are as follows :

Installment accounts receivable, Dec.31,1987 $500,000

Installment sales 900,000
Cost of goods sold as percentage of sales 60%
Using the installment method, Pelangis realized gross profit for 1987 would be

a. $360,000
b. $240,000
c. $200,000
d. $160,000

20. Barongsai Corporations transaction for the year ended December 31, 1988 included the
following :
Acquired 50% of Hanoman Corp.s common stock for $225,000 cash which was
borrowed from bank.
Issued 5,000 shares of its preferred stock for land having a fair value of
$400,000
Issued 500 of its 11% debenture bonds, due 1996, for $490,000 cash
Purchased a patent for $275,000 cash
Paid $150,00 toward a bank loan
Sold investment securities for $995,000
Had a net increase in customer deposits of $110,000.

Barongsais net cash provided by investing activities for 1988 was

a. $370,000
b. $495,000
c. $595,000
d. $770,000

KUNCI USULAN USM D IV

MATA KULIAH AKUNTANSI KEUANGAN MENENGAH
1. C
2. C
3. C
4. A
5. D
6. B
7. A
8. C
9. B
10. B
11. A
12. C
13. A
14. C
15. A
16. C
17. C
18. D
19. D
20. B

KETENTUAN PENGELOLAAN KEUANGAN NEGARA

1. Public finance includes all government rights and obligations that can be stated in terms of
money. This definition is based on the _______ of public finance.
a. Objects
b. Subjects
c. Processes
d. Objectives

2. Which of the following is the new principles adopted by the new regulations in public
finance (the Law No. 17 of 2003, the Law No. 1 of 2004 and the Law No. 15 of 2004)?
a. Universality principle
b. Unity principle
c. Specialty principle
d. Proportionality principle

3. Which of the following is NOT the part of the area of public finance according to the Law
No. 17 of 2003?
a. Fiscal management
b. Monetary management
c. Local financing management
d. Government investment management

4. According the Law No. 17 of 2003 about Public Finance, the government should submit its
audited financial statement to DPR no later than ____ months after the closing date of a
fiscal year.
a. Three
b. Six
c. Twelve
 d. Eighteen

5. Which officer listed below holds the responsibility to develop the budget execution
document?
a. President
b. Minister of Finance
c. Minister/Head of an Institution
d. Director General of Government Treasury

6. Which characteristic listed below should NOT be used to specify the government
expenditures in the government budget?
a. Sector/sub-sector
b. Organization
c. Function
d. Activity

7. Which of the statement below that is NOT true according to the Law No. 17 of 2003?
a. Central Government submits the key fiscal policies and macro economic framework of
the next fiscal year to the DPR no later than the mid of May of the current fiscal year.
b. The proposed Law of Budget, together with the finance note and supporting documents
should be submitted to the DPR by the central government in the month of August
before the fiscal year of the proposed budget.
c. The decision by DPR for the proposed Law of Budget should be made before the
beginning of the fiscal year of the proposed budget.
d. The proposed local regulation of local government budget, together with the
explanations and supporting documents, should be submitted to the DPRD by the local
government in the month of October before the fiscal year of the proposed budget.

8. Which of the following is NOT the function of Central/Local Government Budget?

a. Planning
b. Controlling
c. Accountability
d. Stabilization

9. To manage the government assets in the Ministry of Finance is the task of Minister of
Finance as a:
a. Public finance manager
b. Fiscal manager
c. General treasurer
d. Budget user

10. The officer who is responsible to manage the central government receivable is:
a. Director General of Government Receivable and Auction
b. Minister/Head of an Institution
c. General Treasurer
d. Director General of Government Treasury

11. Which of the following statement is NOT true?

a. Central government can allocate fiscal balance fund to the local governments.
b. Central government can provide loan to local governments.
c. Local governments can provide loan to central government.
d. Central government can give grants to local governments.
12. Central government facility used by the organization managing society funds should be
controlled by:
a. Society
b. BPK (Audit Supreme Body)
c. Ministers/Heads of an Institution
d. Minister of Finance

13. Which of the officer below is responsible for instructing the payment as a result of budget
execution?
a. Director General of Government Treasury
b. The Head of Government Treasury and Cash Office
c. The Minister of Finance
d. Minister/Head of an Institution

14. When is the latest fiscal year for the government to use cash basis in the its accounting?
a. 2005
b. 2006
c. 2007
d. 2008

15. The level of accountability for the minister/head of an institution in executing the budget is
in the ______ level.
a. Output
b. Outcome
c. Benefit
d. Impact

16. The level of accountability for the head of units under a ministry/institution in executing the
budget is in the ______ level.
a. Output
b. Outcome
c. Benefit
d. Impact

17. The maximum deficit allowed in the government budget is ___ percent of Gross Domestic
Product.
a. Three
b. Five
c. Ten
d. Twenty

18. Which of the following statement is NOT true?

a. Central government can provide loan to other governments with the approval of DPR.
b. Central government can provide loan to private companies with the approval of DPR.
c. The Ministry of Government-Owned-Companies (Kementerian Negara BUMN) is
responsible for supervising and controlling the government-owned companies (BUMN).
d. Central government can give grants to local-government-owned companies (BUMD).

19. The financial statement of a department/institution would not include:

a. The financial statement of Public Service Body (Badan Layanan Umum)
b. The summary financial statement of government-owned companies
 c. Notes to Financial Statement
d. Budget Realization Statement

20. In the Government Balance Sheet, the difference between the government assets and
government liabilities is called:
a. Equity
b. Owners Equity
c. Government Equity
d. Fund Equity

KUNCI JAWABAN

1. a 6. a 11. a 16. a
2. d 7. c 12. d 17. a
3. c 8. c 13. d 18. c
4. b 9. d 14. c 19. b
5. c 10. b 15. b 20. d