According to PFRS 11, it is a separately identifiable financial structure, including separate legal entities or entities recognized by statute, regardless of whether those entities have a legal personality. separate vehicle special purpose vehicle special purpose entity public utility vehicle
1. According to PFRS 11, it is a separately identifiable financial structure, including separate legal entities or entities recognized by statute, regardless of whether those entities have a legal personality.
separate vehicle
special purpose vehicle
special purpose entity
public utility vehicle
2. At the time of repossession, repossessed merchandise is debited at its:
Original cost.
Unrecovered cost.
Fair value after reconditioning cost.
Fair value before reconditioning cost.
3. S1: The initial measurement under PFRS 17, is the sum of the fulfillment
Only S2 is correct.
Both statements are correct
Only S1 is correct.
Both statements are incorrect.
4. S1: Financial risk it the risk that is significant in which transferred from the policyholder to the issuer of an insurance contract. S2: Principle of indemnity refers to the legal principle that the insured must be be benefited by the insured property's existence and prejudiced by its destruction
Both statements are correct
Only S1 is correct.
Only S2 is correct.
Both statements are incorrect.
5. At contract inception, PFRS 15 requires an entity to determine how the performance obligations identified in the contract will be satisfied. According to PFRS 15, how does an entity satisfy a performance obligation in a long-term construction contract?
over time
at point in time
any time
over time or at point in time
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