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- Section 197 intangible property acquired as part of an acquisition of a business is amortized over what?The co-owner of an immovable property has a right to exercise A. pre-emption B. Redemption C. Legal Redemption D. Conventional redemptionThe rights of financial claim to the assets are called equities Question 9 options: True False
- Question 21 Which of the following is the best evidence of continuous ownership of property? a. Examination of canceled check in payment for the property. b. Examination of the deed. Oc. Examination of the title policy. Od. Examination of the client's property tax bills. 4Ch. 16 _______ specifies an action that the company agrees to take or a condition the company must abide by. Group of answer choices milking the property marketable claims negative covenant positive covenantNot yet Statement 1-IFRS 16 paragraph 100 provides that the seller-lessee shall measure the right of use asset arising from the leaseback at the proportion of the previous carrying amount of the asset that relates to the right of use transferred to the buyer-lessor. Statement 2- IFRS 16 paragraph 100 provides that the gain or loss that pertains to the right retained by the seller-lessee is not recognized. Select one: O Only statement is correct O Both statements are corroct O Only statement 2 is correct O Both statements are incorrect
- Q29 If a property is partly use by the owner for own use and the other part is held for earning rentals or capital appreciation, then: Select one: a. The entire property is investment property b. The owner occupied property is investment property c. The part held for earning rentals or capital appreciation, if it can be sold or leased out separately shall be classified as investment d. The property cannot be classified as investment propertyHow does a seller financing differ from a land contract ?Question 20 What is the principle for recognition of a financial asset in PFRS 9? Group of answer choices A financial asset is recognized when, and only when, it is probable that future economic benefits will flow to the entity and the cost or value of the instrument can be measured reliably. A financial asset is recognized when, and only when, the entity becomes a party to the contractual provisions of the instrument. A financial asset is recognized when, and only when, the entity obtains control of the instrument and has the ability to dispose of the financial asset independent of the actions of others. A financial asset is recognized when, and only when, the entity obtains the risks and rewards of ownership of the financial asset and has the ability to dispose of the financial asset. Question 19 Investments in equity instruments are financial assets because they are Group of answer choices Cash equivalents. Contractual rights to receive cash or another financial…
- 33. the commercial package policy declarations contain interlines enduements cause of loss forms common policy conditions d description of the property insured13. Fees for managing and protecting a customer"s property is considered under category interest income O non interest income O interest expense non interest expenseIf an entity as lessee presents as investment property a property interest held under an operating lease then the entity 1has the option of measuring some items of investment property using the cost model. 2shall measure in the financial statement all of its investment property using the fair value models 3shall measure that leased property interest under the fair value model and the remaining investment property using the cost model. 4shall measure that leased property interest under the cost model and the remaining investment property either using the cost model or the fair value model.