81 Which of the following is correct? I.      Direct origination costs – added to principal II.      Direct origination fees – added to principal III.      Direct origination costs – deducted from principal IV.      Direct origination fees – deducted from principal

Q: What is concept of unearned revenue?

A: When a amount is received in advance for a service or goods and as on reporting date such service is…

Q: An example of an expense classifi cation by function is: B . interest expense

A: An example of an expense classification by function is

Q: true or false The net defined benefit liability/asset that is presented in the balance sheet is the…

A: True. Net defined benefit liability /asset is the difference between Present Value of Defined…

Q: 18-Which one of the following category unearned revenue belong to? a. Limited liability b. Lon-term…

A: The Unearned revenue is the revenue received in cash but not earned yet.

Q: Explain how the § 179 immediate expensing deduction affects the computation of MACRS cost recovery.

A: Depreciation is defined as the accounting method implemented to allocate the cost of a long-term…

Q: Unearned Revenue is classified as​ a(n) ________ account.         A. equity   B. revenue   C.…

A: Unearned revenue is money received by an individual or company for a service or product that has yet…

Q: Which one of the following category unearned revenue belong to? a. Limited liability b. Current…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: Define Unearned revenue

A: Definition: Deferred revenues: Deferred revenue is a liability to render service or to deliver…

Q: Explain how the § 179 immediate expensing deduction affects the computation of MACRS cost recovery

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: Please explaim  part B) and c?  how Ending imventory balance calculated for both part of questions

A: Ending inventory units are the number of units which are not sold during the year. It is Calculated…

Q: s a general rule, revenue is normally recognized when it is: a) Realizable and earned b)…

A: Revenue is very important for the company and revenue may be received now or may be realized later…

Q: age of time B. Completion of percentage of a project C. Performan

A: Revenue refers to the sum value of money gained by a business by selling its goods or services in…

Q: The measurement principle requires that Oa. accounting principles meet the objectives of the…

A: Accounting principle are the basis on which the whole accounting all over the world is based on.…

Q: Which of the application of of a. Presenting a the related s b. Deducting fe gains and pr c.…

A: Presentation of Financial Statements PAS 1 describes the basis for presenting the general purpose…

Q: Under PFRS 3    a. both direct and indirect costs are to be capitalized b. both direct and indirect…

A: Cost capitalization is a method in which all the expenses incurred on an asset(fixed) to make it…

Q: Which one of the following category unearned revenue belong to? a. Current liability b. Limited…

A: Unearned revenue is a liability till the performance has been done by the supplier.

Q: Borrowing costs that are directly attributable to the acquisition or construction of a qualifying…

A: Ans. Borrowing costs that are directly attributable to the acquisition or construction of a…

Q: GIVEN: ▪ Decedent - Filipino citizen ▪ Died - June 2021 ▪ Marriage - April 2013 ▪ Survived by -…

A: As per Bartleby, if there are multiple questions asked then we are asked to provide the answer to…

Q: Under PFRS 15, what is the measurement basis of revenue from contracts with customers? Select the…

A: Revenue recognizes steps: Identify the contract with a customer Identify the performance…

Q: Question 3. Classify each of the following accounts as (a) asset, (b) liability, or (c) equity.…

A: Assets means resources that the business have. It may be tangible resources or intangible resources.…

Q: Which of the following categories represent O Expenses related to real estate taxes. O Expenses…

A: AGI deductions are specific expenses that can be subtracted from your total income to arrive at your…

Q: Which of the following concept is also called as Revenue Recognition Concept? O a. Accrual concept…

A:

Q: Which among the following suits best for Unearned revenue? a. Liability b. Expense c. Revenue d.…

A: Unearned Revenue: Unearned Revenue means money received from the customer in advance for the service…

Q: Which of the following is not affected by a change in interest expense?   a. gross margin   b.…

A: The question is based on the concept of Financial Accounting.

Q: Describe the criteria for revenue recognition?

A: The concept of revenue recognition in accounting states that a company's revenue should be recorded…

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.