A purchase commitment represents a What? a) A firm order to buy b) A contingent asset c) A sale on credit d) An option to purchase
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- Financial Accounting MCQAccording to the fair value principle, assets and liabilities should be reported Select answer from the options below 1.at their fair market value. 2.at their historical cost. 3.at a value agreed upon by interested parties. 4.at cost plus inflation.A derivative is a financial instrument whose value is determined by _____________________. (Select two that apply) Select one or more: a. An underlying asset b. The features of the derivative itself c. Speculation d. A regulatory body such as the FTC
- For assets acquired on credit or by installment, the cost or fair value is equal to: A. cash purchase priceB. invoice priceC. installment priceD. list priceCreative negotiation techniques that establish deal structure such as offering owner financing , a lease option, or taking back a vehicle in lieu of a deposit, typically occur during which part of negotiation?What is Correct option
- The price that would be received to sell an asset or paid to transfer a liability in an orderly sale between market participants at the measurement date is termed ________. Select one alternative: fair value book value intangible value tangible valueCollateral may mean the acquisition of rights over either assets belonging to a borrower and/or the acquisition of rights against third parties. a. True b. FalsePROBLE other financial assets. associates and joint ventures. delivering cash or another financial asset. However, Entity A's not sufficient to justify offsetting because the rights and d. An intention to settle a financial asset and a financial 2 A contract that evidences a residual interest in the entity's assets after deducting all of its liabilities is classified as 4. Entity A issues an instrument that is re-purchasable by d. Liabilities arising from constructive obligations. Physical assets, such as inventories and PPE. and financial liability remain unaltered. Which of the following is within the scope of PAS 32? b. Contracts for the delivery or receipt of commodity and other non-financial items that can be settled net in cash or Financial assets in the form of investments in subsidiaries, 1. a. b. Co non-financial items that can be settled net in cash or Physical assets, such as inventories and PPE C. ssets after deducting all of its liabilities is classified as a. a financial…
