The primary measurement basis is A.The current market price if the asset currently held was sold on the open market. B. The current market price if the asset held was purchased on the open market. C. The present value of the cash flows that the asset is expected to generate. D. The market price at the date the asset was acquired.

The primary measurement basis is A.The current market price if the asset currently held was sold on the open market. B. The current market price if the asset held was purchased on the open market. C. The present value of the cash flows that the asset is expected to generate. D. The market price at the date the asset was acquired.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter6: Fixed-income Securities: Characteristics And Valuation

Section: Chapter Questions

Problem 6QTD

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The primary measurement basis is a.) The current market price if the asset currently held was sold on the open market. b.)The current market price if the asset held was purchased on the open market. c.) The present value of the cash flows that the asset is expected to generate. d.) The market price at the date the asset was acquired.
Which of the following statements is true for historical cost valuations? (Select one or more) a. Present value of cash flows using historical interest rates is an item in which cash receipts or cash payments will occur over time, these future cash flows are then discounted at the interest rate in effect at the time of the initial transaction. Balance sheet examples include notes receivable and notes payable. b. Acquisition cost is the amount paid initially to acquire the asset, examples include prepayments, land, and intangibles with indefinite lives. c. Acquisition cost is the amount paid initially to acquire the asset, examples include amounts invested in research and development for intellectual property. d. Adjusted acquisition cost is the amount paid initially to acquire an asset less accumulated depreciation and amortization, examples include equipment and intangible assets with limited lives.
The “carrying value” of a long term asset on the Balance Sheet represents: a. The net book value of the asset b. The fair market value of the asset c. The estimated sale price of the asset d. The value of the asset after wear and tear
What is the first impact on asset turnover of promptly expensing a cash outlay compared to capitalizing it? The asset turnover rate is defined as follows:
(5). Intangible assets are initially recorded at (a). cost (b). expected future value (c). expected present value of expected cash flows (d). present fair value
Under IFRS, value-in-use is defined as: a. net realizable value. b. fair value. c. future cash flows discounted to present value. d. total future undiscounted cash flows.
Which of the following is typically recorded at its present value? a. long-term investments b. long-term liabilities c. intangible assets d. contigent liabilities
Which of the following is excluded when projecting future cash flows for the purpose of determining an asset’s value in use? a. Revenues to be derived from the continuing use of the assetb. Residual value of the assetc. Costs of future improvements on the assetd. Disposal costs of the assetPLEASE ADD REFERENCE OR CITATION
The cost of property acquired by direct cash purchase includes the cash paid and: A. the implied interest on the debt to finance the purchase.B. the market value of any noncash asset surrendered to acquire the asset.C. the estimated residual value of the asset.D. directly attributable costs of bringing the asset to working condition for its intended use.
Residual value is O a. Present value. O b. Value in use. O c. The net cash amount that is received from the ultimate sale of the asset, at the end of its life. O d. The gross cash amount that is received from the ultimate sale of the asset, at the end of its life.
Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration given to acquire them at the time of acquisition most closely describes which measurement of fi nancial statement elements? A . Current cost
1. Inventory should be stated at (a) Lower of cost and fair value. (b) Lower of cost and net realizable value. (c) Lower of cost and nominal value. (d) Lower of cost and net selling price. 2. Which of the following costs of conversion cannot be included in cost of inventory? (a) Cost of direct labor. (b) Factory rent and utilities. (c) Salaries of sales staff (sales department shares the building with factory supervisor). (d) Factory overheads based on normal capacity. 3. Inventories are assets (a) Used in the production or supply of goods and services for administrative purposes. (b) Held for sale in the ordinary course of business. (c) Held for long-term capital appreciation. (d) In the process of production for such sale. (e) In the form of materials or supplies to be consumed in the production process or the rendering of services. (f) Choices b and d. (g) Choices b, d, and e. 4. The cost of inventory should not include (a) Purchase price. (b) Import duties and other taxes. (c)…

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	A.The current market price if the asset currently held was sold on the open market.
	B. The current market price if the asset held was purchased on the open market.
	C. The present value of the cash flows that the asset is expected to generate.
	D. The market price at the date the asset was acquired.