Subject: Financial Accounting In a service concession arrangement, the operator recognizes?Correct optiona) The infrastructure as its PPEb) Always a financial assetc) Always an intangible assetd) Either a financial asset or an intangible asset

Concept of Service Concession Arrangement:A service concession arrangement is a contractual…

Answered: In a service concession arrangement,…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 11GI

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In a service concession arrangement, the operator recognizes? Correct option a) The infrastructure as its PPE b) Always a financial asset c) Always an intangible asset d) Either a financial asset or an intangible asset
Problem related to Accounting
Which of the following intangible assets should not be amortized? a. Copyrights b. Customer lists c. Perpetual franchises d. All of these intangible assets should be amortized.
An operator treats the resurfacing services included in a service concessionarrangement as a separate performance obligation if: A. The resurfacing is to be performed only when the infrastructure deterioratesbelow a specified condition. B. The resurfacing is to be performed only when the infrastructure is used beyond aspecified level of usage.C. The resurfacing is to be performed regardless of the infrastructure’s condition orlevel of usage.D. Any of these. Letter A is incorrect.
What is the ability to revalue fixed assets under IFRS provides flexibility in reflecting the true value of assets? And also GAAP?
Identify the following as intangible assets (IA), natural resources (NR), or some other asset (O). Leasehold
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Which movable assets those are not considered as leasehold improvements?
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Which of the following should be included by the lessee in determining the amount of the right-to-use asset and lease liability: a. Fixed Payments: Yes/Unguaranteed Residual Value: Nob. Fixed Payments: Yes/Unguaranteed Residual Value: Yesc. Fixed Payments: No/Unguaranteed Residual Value: Yesd. Fixed Payments: No/Unguaranteed Residual Value: No
Question 1. For any single intangible asset that is material to an entity's financial statements, which of the following is required to be disclosed? Select all that apply. A. Remaining amortisation period of the intangible asset B. Carrying amount of the intangible asset C. Line item on the income statement whichtotal amortization is included D. Description of the intangible asset

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In a service concession arrangement, the operator recognizes? Correct option a) The infrastructure as its PPE b) Always a financial asset c) Always an intangible asset d) Either a financial asset or an intangible asset