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D Question 1 By using the method in initially recognizing deferrals, generally both real and nominal accounts are involved during the period where adjusting entries is needed to be done for accurate financial statements. O Liability O Equity Asset accrual O income O none of the given choices

D Question 1 By using the method in initially recognizing deferrals, generally both real and nominal accounts are involved during the period where adjusting entries is needed to be done for accurate financial statements. O Liability O Equity Asset accrual O income O none of the given choices

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 5Q: Indicate by a (+), (), or (0) whether each of the following events would most likely cause accounts...
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Question 2 Statement 1: Considering IFRS 16 and on Lessor's point of view, Lease is recognized as operating lease if the recognition criteria for finance lease is not met. Statement 2: Debt Investment can be carried using FV through profit or loss but not FV through OCI. Statement 3: If an entity concludes it is probable that a taxation authority will accept an uncertain tax treatment, the entity shall determine whether to disclose the potential effect of the uncertainty as a tax-related contingency. two statements are true. two statement are false All Statements are true all statements are false
Transcribed Image Text:Question 2 Statement 1: Considering IFRS 16 and on Lessor's point of view, Lease is recognized as operating lease if the recognition criteria for finance lease is not met. Statement 2: Debt Investment can be carried using FV through profit or loss but not FV through OCI. Statement 3: If an entity concludes it is probable that a taxation authority will accept an uncertain tax treatment, the entity shall determine whether to disclose the potential effect of the uncertainty as a tax-related contingency. two statements are true. two statement are false All Statements are true all statements are false
Question 1 By using the method in initially recognizing deferrals, generally both real and nominal accounts are involved during the period where adjusting entries is needed to be done for accurate financial statements. O Liability O Equity Asset accrual O income O none of the given choices
Transcribed Image Text:Question 1 By using the method in initially recognizing deferrals, generally both real and nominal accounts are involved during the period where adjusting entries is needed to be done for accurate financial statements. O Liability O Equity Asset accrual O income O none of the given choices
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