It is a receivable financing activity where the Entire Receivable's ownership is sold to the Factee -Discounting -Pledging -Factoring -Assigning
It is a receivable financing activity where the Entire Receivable's ownership is sold to the Factee -Discounting -Pledging -Factoring -Assigning
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
It is a receivable financing activity where the Entire Receivable's ownership is sold to the Factee
-Discounting
-Pledging
-Factoring
-Assigning
PAS 2 Inventories requires that lower of cost and net realizable value shall be applied
-On the basis of industry segment.
-On an item-by-item basis.
-To total inventories as a whole.
-To each class of inventory.
A newly admitted general partner is liable to creditors existing at the time of his admission and his liability is
-Loss before delivery of a specific thing which a partner had promised to contribute to the partnership.
-Loss before delivery of a specific thing where the partner promised to contribute only its use and enjoyment, reserving the ownership thereof.
-Loss after delivery of a specific thing where the partner contributed only its use and enjoyment, where such partner reserved the ownership thereof.
-Loss of a specific thing after its delivery to and acquisition of its ownership by the partnership from the partner who contributed the same.
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