Of the following items, the only one which should not be classified as a current liability is current maturities of long-term debt. O sales taxes payable. short-term obligations expected to be refinanced. O unearned revenues.

Q: The components of the conceptual framework ?

A:

Q: Explain materiality , happens and why these are important? Explain with the help of example.

A: Materiality refers to the concept of determining whether a particular item, transaction, or…

Q: What would be the equasion for solving this

A: Formula for calculating yearly payment: Yearly payment=(Loan amount * Rate%)1-1(1+Rate%)n

Q: Consider REMICs?

A: A real estate mortgage investment conduit (REMIC) is a difficult puddle of mortgage securities…

Q: Highlight concept of faithful representation and is it valid or not?

A: The concept of Faithful representation advocates that the financial statements and information…

Q: Define the term Multiple Peril?

A: Multiple-perilIt is the insurance coverage package for small and commercial businesses. It is the…

Q: Explain the PSA prepayment model?

A: What Is a Prepayment Model? In lending, a prepayment model is used to estimate the level of…

Q: What is the actual formula used to get this answer?

A: Present value of annuity Annuity is a series of equal payments at equal interval over a specified…

Q: Explain subsequent events and why these are important? Explain with the help of example.

A: Subsequent events refer to events or transactions that occur after the balance sheet date but before…

Q: Can you explain DCF model?

A: Introduction Discounted cash flows: DCF is abbreviated as discounted cash flows. The concept of…

Q: What is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: What is counterbalancing?

A: Errors: The comparability and consistency of the financial statements decreases when a company…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: What is sensitive analysis?

A: Sensitive analysis is a method for predicting the outcome of a decision if a situation turns…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: What is the confirmation process?

A: Confirmation Process: Confirmation process refers to the process for the authentication of the…

Q: Define the term lnvesting activities? Explain with an example?

A: Investing activities are the activities in a business which involves investment done during a…