The rights of financial claim to the assets are called equities Question 9 options: True Fals
Q: Entity A issues an instrument that is re-purchasable by delivering cash or another financial asset.…
A: Answer (4). Option A is the correct answer.
Q: Statement I: In cases wherein the net free assets are greater than the unsecured claims, the…
A: Liquidation means where the company decide to close out the operations , sell all the assets and…
Q: While accounting for provisions, contingent assets, and contingent liabilities if probability of…
A: A contingent asset is a prospective asset that may develop as a result of a gain that is contingent…
Q: What are the criteria of an assets held for sale?
A: Step 1 If any of the assets is held for sale then, it ceases to depreciation and amortization and…
Q: amount of the financial asset shall be: 2 points a. Recognized in other comprehensive income for…
A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…
Q: Not yet Statement 1-IFRS 16 paragraph 100 provides that the seller-lessee shall measure the right of…
A: Ifrs 16 includes the requirements of sale and lease back transactions under paragraph 98 to 100.…
Q: How should (i) a change in calculating the provision for doubtful accounts, and (ii) change in…
A: The provision for doubtful accounts is accounting estimates that change on a yearly basis. It is…
Q: Statement 1: In the sale of a financial asset measured at fair value through OCI, the difference…
A: As per IFRS 9, Financial instrument, On derecognition of a financial asset measured at fair value…
Q: Expenditures may be either capitalized or expensed. When Expenditure is capitalized it means that:…
A: Expenditures are the outflows of the business which help in the creation of assets that lead to the…
Q: the inflows and outflows method, the following are considered exceptional inflows: A) Interest…
A: Inflows and outflows method specifies the process of evaluating all the desired cash that comes into…
Q: S1] Concerns over the estate valuation and taxation rarely occur when prices cannot be placed on…
A: Valuation and taxation requirements for financial reporting purposes and for taxation compliance…
Q: Hi please assist
A: The accounting is based on various concepts such as historical concept, Materiality, conservatism,…
Q: An SME does not need to estimate the residual value of its depreciable assets when computing for…
A: Small and medium sized firms are those firms which have the less number of employees in it, less…
Q: A deposit received is reported as a * current asset investment revenue
A: Note: As per BARTLEBY guidelines, when multiple questions are given then first question is to be…
Q: True or False (No need for explanation) 1. Profit on self-construction is not allowed to be…
A: TRUE TRUE TRUE TRUE TRUE TRUE TRUE FALSE TRUE TRUE TRUE FALSE
Q: text __________________is the residual interest in the assets of the entity after deducting all of…
A: Assets of the business composed of two components, one is related to liabilities part and other is…
Q: Which of the following is not a category of financial assets under GAM? Group of answer choices…
A: Financial Assets are to be classified in the following four categories: 1. Financial Assets at fair…
Q: Capital Structure represents Select one: a. None of the options b. Assets and Liabilities c. All…
A: Capital structure is the particular combination of debt and equity used by a company to finance its…
Q: With reference to IAS 37, identify the correct statements from the following: I. A contingent…
A: Contingent Liabilities In simple term contingent liabilities means unexpected loss or expenses…
Q: Which is the proper way to report a contingent asset? a. As an asset b. No disclosure and no accrua…
A: As per IAS 37, Provisions, contingent liabilities and contingent assets. A contingent asset arise…
Q: 29. Which of the following would generally not be classified as a current asset? OA cash equivalent…
A: Current assets are assets that can be used, traded, or consumed within one year. Cash equivalents…
Q: The statement of financial position Select one: a. Makes very limited use of judgments and…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Question 20 What is the principle for recognition of a financial asset in PFRS 9? Group of answer…
A: Question 20What is the principle for recognition of a financial asset in PFRS 9? Explanation - A…
Q: loses significant influence over the associate, the balance of the investment in the associate is…
A: When the company has significant influence over the associate, then equity method should be used for…
Q: Q5. Distinguish between fraudulent financial reporting and misappropriation of assets. Discuss the…
A: 1) Fraudulent financial reporting - It is purposely done by the company to alter their financial…
Q: What is the principle for recognition of a financial asset in PFRS 9? Group of answer choices: A…
A: Correct answer is D. A financial asset is recognized when, and only when, the entity becomes a party…
Q: ROBLEM 1: TRUE UR FALSE Land held for a currently undecided future use or for speculation should be…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: The disclosure of a line item for Other current assets in the Statement of financial position would…
A: The answer for the multiple choice question and relevant explanation are presented hereunder : Other…
Q: 6. Which of the. following techniques overstate long-lived assets? a. Overvalue existing assets. b.…
A: The answer is given below: Note: Answering the first question as there are multiple…
Q: st is usually factual and verifiable. Current fair market value as established by independent…
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…
Q: Q4 Which of the following statements is NOT correct? (i) For an asset to be classified as a…
A: First, we need to understand the basic definition Financial asset It is a liquid asset that gets…
Q: tests of controls
A: Capitalization policy means the method of capitalizing expenses as fixed assets.
Q: When the contractual cash flows of a financial asset are renegotiated or otherwise modified and the…
A: IFRS: It stands for International Financial Reporting Standards. It is responsible set standards…
Q: 1. Statement 1: Measurement period is relevant if Fair Value of Net Assets of acquiree includes the…
A: According to IFRS 3 : It includes transaction or an event in which acquirer obtains control over…
Q: Which statement is incorrect regarding reclassification of financial assets? a) Reclassifications…
A: As per IFRS a) Reclassifications to FVTPL measurement category result to amounts recognized in…
Q: Which is the proper way to report a contingent asset? a. As an asset b. No disclosure and no…
A:
Q: Which of the following statements is true? Question 2 options: a The capitalizable costs of…
A: At the time of acquisition of intangible assets, all incidental costs are capitalised that are…
Q: utline the accounting tre
A: Although IFRS 9 Financial Instruments was first issued in November 2009, it has been updated on a…
Q: Residual interest in the asset of an entity that remains after deducting its liabilities is? a.…
A: Accounting Equation - Accounting Equation is calculated using following equation - Assets =…
Q: Which of the following case would allow the capitalization of Interest Expense No Case allows…
A: Interest will be capitalised only when the concerned assets is under preparation for its use in…
Q: Please explain Tangible and Intangible Assets. What are types of both? Also Intangible Assets are…
A: Step1: Definition of tangible asset and intangible assets. We have,Tangible assets are those assets…
Q: I. The amount of borrowing costs that an entity capitalizes during a value, the carrying amount is…
A: As per IND AS 23, borrowing cost eligible for capitalization= Borrowing cost incurred- investment…
Q: While accounting for provisions, contingent assets, and contingent liabilities if probability of…
A: A contingent liability or asset which has a chance of arising in future but are not present…
Q: Under what circumstances under PFRS 9 can an entity classify financial assets that meet the…
A: PFRS 9 includes 3 main components. (1) Requirements for recognition, Classification of Financial…
Q: tatement 1: Measurement period is relevant if Fair Value of Net Assets of acquiree includes the…
A: While Acquiring Assets and Liabilities Acquirer does not recognize contingent assets acquired in a…
Q: Which of the following would NOT be classified as a current asset on a classified balance sheet?…
A: Current assets are those assets which are in cash or can be converted into cash into short period of…
The rights of financial claim to the assets are called equities
Question 9 options:
| True | |
| False |
Step by step
Solved in 2 steps
- Question: Classification of liabilities is based on the same principles as the classification of assets'. Do you agree with this? Why or why not? **********correct answer please *************Which of the following case would allow the capitalization of Interest Expense No Case allows this transaction Borrowing Cost Provided the interest is immaterial Only if Management AllowsWould I subtract assets from liabilities?
- Liabilities are the owner's claim on assets. Group of answer choices True False11. Which type of financial assets are purchased only with the intent of selling them in the near future? DAFVTPL financial assets ⒸBFVTOCI Financial assets C. Amortized Cost financial assets OD. Investment accounted for using the equity methodQuestion 3. Classify each of the following accounts as (a) asset, (b) liability, or (c) equity. a.→Defined benefit obligation b.→Plan asset c.→Right-of-use asset d.→Contract asset e.→ Unearned revenue f.→ Deferred tax asset g.→Accumulated other comprehensive losse
- text __________________is the residual interest in the assets of the entity after deducting all of its liabilities a. Current Assets b. Equity c. Profit d. None of the given optionsCollateral may mean the acquisition of rights over either assets belonging to a borrower and/or the acquisition of rights against third parties. a. True b. FalseWhich of the following is not a category of financial assets under GAM? Group of answer choices A.Held to maturity investments B.Available for sale financial assets C.Financial asset at fair value through other comprehensive income D.Loans and receivable
- According to the fair value principle, assets and liabilities should be reported Select answer from the options below 1.at their fair market value. 2.at their historical cost. 3.at a value agreed upon by interested parties. 4.at cost plus inflation.In an acquisition of assets, the acquirer must give up which of the following? A. Other Assets B. Cash C. Liability D. Any of the givenQ: part ii): a) What is interest and explain the main types? b)Amortization Schedule