ests of interested pa e amounts in the ev formation and othe goods and services

Q: one or more of the following statements are characteristics of assets: a. a probable future benefit…

A: Assets are those resources whether tangible or intangible, current or fixed have an economic value…

Q: Which of the following are recognized in other comprehensive income?       service cost

A: The other comprehensive income includes the revenues and expenses of the company. The assets and…

Q: . Defined by IFRS 2 as a vesting condition that requires the counterparty to complete a specified…

A: IFRS 2 talks about the reporting of share based payment transactions. As per this, the entities who…

Q: Describe the exchanges in nonmonetary asset.

A: A non-monetary transaction refers to a commercial or business transaction that happens without the…

Q: Distinguish between losses from transaction exposure, operating exposure, and translation exposure?…

A: The Answer :

Q: A seller recognizes the amount of returns from right to return sales as a/an ________. Group of…

A: The question is asking about how a seller recognizes the amount of returns from right to return…

Q: Under valuation balance sheet the net liability is the difference between: Premium to be received…

A: Net Liabilities:- It is an excess of Accounts Payable over Accounts Receivables. It includes all…

Q: Discuss any potential synergistic gain to the acquire and the target entity.

A: Synergistic gains arises due to acquisition and mergers. It can determined by comparing the value of…

Q: information access

A: With emerging product technology such as CD-I, DV-I, and so forth, and the possibility of charging…

Q: On what basis should the transaction price be allocated to various performance obligations? Identify…

A:

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 goods in transit? Explain?

A: Goods are the inventory of the seller and for purchaser, the goods can be the raw material, if the…

Q: Revenue is generally recognised at the point of sale. Which principal is applied a. Consistency b.…

A: Introduction : Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: Define goodwill for accounting purposes

A: When one firm is acquired by another, an intangible asset known as goodwill is transferred together…

Q: What controversy relates to the accounting for net operatingloss carryforwards?

A:

Q: Net defined benefit asset results in Current service cost Interest expense Interest revenue

A: As per IAS 19 of IFRS mentions how the accounting should be done to employee benefit other than…

Q: Explain how a not for profit determines whether a resource provider is participating in an exchange…

A: The objective of this question is to understand how a not-for-profit organization determines whether…

Q: The amount for which an asset could be exchanged, a liability settled , or an equity instrument…

A: The amount for which an asset could be exchanged, a liability settled , or an equity instrument…

Q: In accordance with IAS 2 Inventories define the terms "inventories" and "net realisable value”.…

A: Inventories as the name states is one the asset to the company or any business which comes under the…

Q: give the definition, recognition, measurement and derecognition of "borrowing cost"

A: A uniform group of principles, standards, and procedures that explain the basic financial accounting…

Q: The amount of consideration to which the entity expects to be entitled in exchange for transferring…

A: As per IAS 115 Revenue recognition A performance obligation is an promise to customer to transfer…

Q: classify, calculate, and interpret activity, liquidity, solvency, profi tability, and…

A: Activity ratios, also known as asset utilization ratios or operating efficiency ratios, measure how…

Q: Describe the Fundamental Issues Related to Recognizing Revenue.

A: Revenue Recognition: Revenue recognition refers to the principle which tells about the conditions…

Q: In the statement of financial position, investment of a specific entity OA Can be classited as…

A: In statement of financial position, it includes Assets, Liabilities and  Equity of the company are…

Q: Which one of the following equations will yield the available balance in an expenditure subsidiary…

A: GASB: The GASB is the board that provides the guideline to the governmental units about proper…

Q: What are goods "in transit" and good in "consignment"? Why are they must be considered in light of…

A: The goods in transit are all such goods which has left the dock of seller and not yet reached the…

Q: IASB requires the use of _____ as a measurement basis. a. historical cost b. not given c. current…

A: Introduction:- The International Accounting Standards Board (IASB) issued Framework for the…

Q: Costs that are directly associated with the earning of revenue are recognized as expense in the same…

A: The accounting is based on various principles and regulations.

Q: The new standard, Revenue from Contracts with Customers, recognizes revenue based on a(n):…

A: Solution: The new standard, Revenue from Contracts with Customers "adopts an asset-liability…

Q: Name the major subsystems of the revenue cycle.

A: Revenue cycle refers to tracking a revenue transaction from its beginning to end i.e. from receiving…

Q: Which of the following features of an asset closely links its definition to the scien Economics? A.…

A: Asset refers to any resource which is owned or controlled through the business and it is anything…