【每日一练】CFA 一级（2015年）

Question：

Which of the following statements is most accurate? 
A. Accrued revenue arises when a company receives cash prior to earning the revenue. 
B. Accrued expenses arise when a company incurs expenses that have not yet been paid as of the end of the accounting period. 
C. A valuation adjustment for an asset converts its historical cost to its depreciated value. 
 

Answer = B 
The statement about accrued expenses is correct. A valuation adjustment for an asset converts its historical cost to current market value; accrued revenue arises when revenue has been earned but not yet received. 
 

CFA Level I 
"Financial Reporting Mechanics," Thomas R. Robinson, Jan Hendrik van Greuning, Karen O'Connor Rubsam, Elaine Henry, and Michael A. Broihahn
Section 5.1 

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