A compound financial instrument's equity component is: a) Measured at fair value b) Recorded at nominal value c) Equal to the liability component d) The residual after deducting liability component
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- Fair value is used to value which of the following balance sheet accounts? a. Prepaid expenses; patents; property, plant, and equipment b. Capital lease obligations, bonds payable c. Receivables net of allowance for doubtful accounts d. Debtsecurities available for sale, trading securitiestrue or false The net defined benefit liability/asset that is presented in the balance sheet is the difference between the FVTA and the PV of DBO, subject to the asset ceiling if appropriate.Interest revenue for debt investments at fair value through other comprehensive income is computed based on the instruments’ a. face value using the effective interest rate. b. face value using the nominal interest rate. c. carrying amount using the effective interest rate. d. carrying amount using the nominal interest rate.
- GAAP requires that debt issue costs be recorded separately and amortized over the term of the related debt. Describe a logical alternative to this accounting treatment.he Revaluation Reserve Account should be accounted for as part of a. Assets b. Liability c. Equity d. Expens4. Financial liabilities other than FVPL liabilities are initiallymeasured at fair value plus transaction costs.5. Amortized cost financial liabilities are subsequently measuredat the present value of the cash outflows from the instrument.6. Financial liabilities may be subsequently reclassified betweenthe amortized cost and fair value measurement categories.7. Trade payables and other liabilities that are part of an entity'sworking capital may be presented as current liabilities even ifthey are expected to be settled beyond one year.8. According to PAS 1, a currently maturing debt that the entity'smanagement intends to refinance is presented as noncurrent.9. According to PFRS 15, if an entity expects that a portion of giftcertificates sold will not be redeemed, the entity recognizes theexpected breakage amount as revenue in proportion to thepattern of rights exercised by customers.10. Unearned revenue is revenue that is earned but not yet collected Please answer this all. Thank you
- Choose the correct. The cost of debt capital is calculated on the basis of: A. Net proceeds B. Annual Interest C. Capital D. Arumal DepreciationContingent Liabilities Describe what is termed as “contingent liabilities” and discuss their accounting treatment.Under PFRS 9, a financial asset shall be measured subsequently at amortized cost when: I. The business model of the entity is to hold the financial asset in order to collect contractual cash flows on specifies dates. II. The contractual cash flows are solely payment of principal and interest on the principal amount outstanding. O Il only Both I anf II O Either I orll O lonly Next
- 3. Transaction costs incurred the effective interest rate to be used for amortization of an investment in debt security accounted for as A. Increase; Fair value through profit or loss Decrease; Amortized cost C. Increase; Fair value through other comprehensive income D. Does not affect; Amortized cost В.Which of the following is typically recorded at its present value? a. long-term investments b. long-term liabilities c. intangible assets d. contigent liabilitiesLoans and receivable should be measured subsequent to initial recognition at * a. Amortized cost using the straight line method b. Fair value c. Fair value plus transaction cost d. Amortized cost using the effective interest method
