161

docx

School

Université Bordeaux 1 *

*We aren’t endorsed by this school

Course

PERSONAL F

Subject

Accounting

Date

Nov 24, 2024

Type

docx

Pages

1

Uploaded by MasterScorpion2368

Report
161. How are changes in fair value related to biological assets for oil and gas activities usually disclosed in financial statements? a. In the income statement b. In the footnotes c. In the statement of changes in equity d. None of the above 162. What is the primary purpose of the auditor's report in financial statements for oil companies? a. To express an opinion on the company's financial position b. To provide management advice c. To certify tax compliance d. Both a and b 163. How are oil and gas reserves typically measured for financial reporting purposes? a. In gallons b. In barrels of oil equivalent (BOE) c. In cubic feet d. In liters 164. What accounting method is commonly used for the amortization of intangible drilling costs in financial statements? a. Straight-line method b. Double-declining balance method c. Units-of-production method d. Sum-of-the-years-digits method 165. How are income taxes related to oil and gas activities presented in the statement of cash flows? a. As an operating activity b. As an investing activity c. As a financing activity d. None of the above
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