rue or false question

Q: 2. The cash settlement of all liabilities is referred to as realization. 1 1. Liquidation is the…

A: In case of interlinked question, as per bartleby guidelines answer first three only   1) When the…

Q: The recognition of income occurs simultaneously with the recognition of decrease in assets or…

A: Income is recognized in the books of accounts of an entity if the value of assets is increasing, or…

Q: _2. An existing line of credit that a consumer can use at a store is called an acquisition account.

A: an existing line of credit that a consumer can use at a store is not called an acquisition account

Q: to refer to the degree of uncertainty that the future economic benefits associated with the item…

A: Probability refers to the possibility of a uncertain event take place in the future. Generally, an…

Q: 13. When Joshua purchased Jasmin's P1,000,000 capital interest for 12. When Joshua purchased…

A: 1. False.  A partnership firm can be dissolved any time with the consent of all the partners whether…

Q: Identify if the statement is True or False 1. All allowances are non-taxable 2. If the monthly…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 3. The Philippine Financial Reporting Standards Council (PFRSC) has formulated its own accounting…

A: Explanation : The Philippines has adopted the IFRS Standards as Philippine Financial Reporting…

Q: 9. If profit or loss is #100 while other comprehensive income is $20, total comprehensive income…

A: NOTE : As per BARTLEBY guidelines, when multiple independent questions are given then first question…

Q: Cost of Production Report The debits to Work in Process-Roasting Department for Morning Brew Coffee…

A: Cost Production Report help to assign the costs incurred to the units transferred and ending…

Q: An expense is recognized immediately in the statement cs comprehensive income when expenditure…

A: An expenditure that produces the future economic benefit over some periods is capitalized in the…

Q: PAS 1 encourages, but does not require, the disclosure of an entity's domicile and legal form, its…

A: Incorporation:- When business comes into existence in the name of a sole proprietorship,…

Q: revaluation or restatement of assets and liabilitie:

A: Equity is calculated by deducting total liabilities from total assets. It can be more clearly…

Q: _4. Many credit card companies allow you to review your account statement online.

A: A credit card allows individuals to take a loan from the bank when required within the limit…

Q: Revenues are increases in equity from a company's sales of products and services to customers. 2.…

A: Net Income = Total Revenue - Total Expenses

Q: The elements that are directly related to the measurement of profit are assets, liabilities, and…

A: The profit is recognized by an entity at the instance where the assets are increasing, or the…

Q: 3. The measurement basis most commonly adopted by entities in preparing their financial statements…

A: Measurement basis: This implies to the basis that is used for recording and valuing the company's…

Q: 34. Dissolution is always followed by liquidation. . 0 The amount of asset revaluation when a new…

A: partnership  between partners to share profit and loss and contribute capital in the aggred ratio .…

Q: _6. The unpaid-balance method computes finance charges based on the portion of the account balance…

A: Given statement is false.   Explanation- The unpaid-balance method computes finance charges based on…

Q: An effective process of capital allocation promotes productivity and provides an efficient market…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: 4. Financial Management, this area focuses on the decisions made by businesses and individuals as…

A: Required: To state TRUE or FALSE

Q: 6. From a borrower's perspective, interest if the fee paid on an amount of money, whether loaned or…

A: The questions are related to True or False. This is due to interest and fees, which is what a lender…

Q: .41. A retiring partner from the partnership may receive bonus from the remaining partner. 42. A…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: 5. Manufacturing costs that cannot be classified as direct materials or direct labor are classified…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: true or false questions

A: Adjusting entries are prepared at the end of the year to accrue the revenues and expenses accrued…

Q: On Day 1, Tomay Co. commits to sell a financial asset. The sale transaction will be settled on Day…

A: A financial asset can be sold and purchased by two entities. The recognition of sale occurs at the…

Q: Triniville Co. commits to purchase a financial asset on Day 1. The transaction will be settled on…

A: An asset purchased or sold can be recognised and de-recognised in the books of the purchaser and…

Q: Available-for-Sale Securities are reported on the balance sheet at cost.

A: Held for sale securities are current assets.These are likely to be sold within 1 year.Held for sale…

Q: 9. The main difference between the SFP of a service company and of a merchandising company lies on…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: hance, a profit is period exceeds the amount of net assets at the beginning of the earned only if…

A: Physical capital maintenance : The physical capital is where capital of an organisation is regarded…

Q: True or False: 5. The two types of financial capital are equity and debt.

A: Since you have posted multiple questions we will do the first one for you. To get the remaining…

Q: 11.An insurance contract is a contract of adhesion. 12.Any party to a contract can agree on any…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The Conceptual Framework is not an IFRS.

A: IFRS is an acronym of International Financial Reporting Standards The IFRS provides the standards…

Q: Wihe new partner will never receive a bonus when they join the partnership. . Partnership assets…

A: Basic Concept of Partnership Accounting

Q: The nominal interest rate is always greater than the effective interest rate.

A: False, effective rate of interest is always greater than nominal interest rate if period of…

Q: A donor making a gift to a related party receives a miscellaneous itemized deduction for the amount…

A: According to the gift's value and the relationship between the giver and the recipient, there might…

Q: The accounting standards published by the International Accounting Standard Committee (IASC) have…

A: Lets starts with basic understanding. International Accounting Standard Committee was set up in the…

Q: omit the notes w al statements. is P100 while other c rehensive income mus ges, but does not req e…

A: Financial Statements-:Financial Statements are the annual reports of a company that furnish the fact…

Q: 10. A depiction to be a perfectly faithful representatión should be complete, relevant, and free…

A: Faithful representation: It implies to the honest presentation of company's financial statements, by…

Q: entity had net purchases of P100. If inventories had a net decrease of P20 during the year, the cost…

A: The manufacturing company would be needed a purchases with efficient work. The output would be good…