ACC2363_Assignment 8_Q #10 Payment of Interest

Explain. The financial activities which are performed regularly are known as: a.Recurring Finance b.None of these c.Non-recurring finance functions d.Both a and b

Classify the following items as (1) on-balance-sheet assets, (2) on-balance sheet liabilities, (3) off￾balance-sheet assets, (4) off-balance-sheet liabilities, or (5) capital account. • Loan commitments. • Loan loss reserves. • Letter of credit. • Bankers acceptance. • Rediscounted bankers acceptance. • Loan sales without recourse. • Loan sales with recourse. • Forward contracts to purchase. • Forward contracts to sell. • Swaps. • Loan participations. • Securities borrowed. • Securities lent. • Loss adjustment expense account (PC insurers). • Net policy reserves

Under ASPE the receipt of interest on loans would be reported on a statement of cash flows under www.OA. investing activities OB. operating activities OC. financing activities OD. no activities because interest received on loans would not be reported on a statement of cash flows

(please correct and incorrect option explain and correct answer this question)   Match the following descriptions with each of the components in the loan review process. Review Later Involves re-assessing any changes that have occurred within management that may impact the business ability to tackle potential issues. Involves re-assessing the direction of the business, potential opportunities, and other issues the company is facing. Involves re-assessing any assets that are being used as protection in the case of default. Involves re-assessing the cash flow and financial position of the borrower. Financial statement review Security review Management review Business review (please correct and incorrect option explain and correct answer)   Match the following descriptions with each of the components in the loan review process. Review Later Involves re-assessing any changes that have occurred within management that may impact the business ability to tackle potential issues. Involves…

(please correct and incorrect option explain and correct answer)   Match the following descriptions with each of the components in the loan review process. Review Later Involves re-assessing any changes that have occurred within management that may impact the business ability to tackle potential issues. Involves re-assessing the direction of the business, potential opportunities, and other issues the company is facing. Involves re-assessing any assets that are being used as protection in the case of default. Involves re-assessing the cash flow and financial position of the borrower. Financial statement review Security review Management review Business review

The main functions of the financial system include: < A. Provide a means of making payments. B. Prepare to sacrifice some income to avoid uncertainty. C. Assist borrowing and lending. D. All of the above

View Policies Current Attempt in Progress Financing activities involve O cash receipts from sales of goods and services. O long-term liability and owners' equity items. O lending money to other entities and collecting on those loans. O acquiring and disposing of productive long-lived assets. Save for Later Attempts: 0 of 1 used Submit Answer

Which of the following statements best describes financial instruments? Answer a. All financial instruments are a means of payment b. Financial instruments can transfer resources between people but not risk c. Financial instruments can transfer resources and risk between people  d. Financial instruments can transfer risk but not resources between people

Which of the following is not an example of an asset? 
   Group of answer choices Supplies. Accounts receivable. Prepaid Insurance. Deferred revenues.

Which of the following transactions would increase an asset and increase a liability? A. Purchasing equipment on creditB. Receiving cash from a customerC. Paying off a loanD. Collecting accounts receivable

The financial activities which are performed regularly are known as: a.Recurring Finance b.None of these c.Non-recurring finance functions d.Both a and b

1.  which of the following transactions will result in the increase and decrease in liability? a. payment of loan by installmentb. borrowed money from the bankc. issued a promissory note in payment of a liabilityd. request for an extension of the date of payment 2.  a statement which shows where the money of the business is obtained and used? a. statement of financial positionb. statement of cash flowsc. cash budgetd. statement of revenues and expenses

For every debit, there is credit is stated in which concept? A. Money Measurement Concept B. Dual Aspect Concept C. Revaluation Reserve D. Market Value

8. The timing of income from services can often be controlled through the use of: a.U.S. GAAP accounting. b.The cash method of accounting. c.Service accounting. d.The accrual method of accounting. e.IFRS accounting.   9. The primary purpose of the imputed interest rules is to prevent income shifting via interest-free loans. True False

Financial management mainly focuses on Select one: O a. Efficient management of every business O b. None of the option O c. All elements of acquiring and using means of financial resources for financial activities O d. Brand dimension e. Arrangement of funds

Which of the following would be part of a financial manager's investment decision? *a. Collecting receivables from customersb. Paying loansc. Allocating funds for permanent current assetsd. Paying dividends to shareholders

provide final solution in this general account query

1-B