Under which type of investment classification is directly attributable cost ofacquisition is not included in the initial measurement basis?financial assets at fair value through profit or lossfinancial assets at fair value through other comprehensive incomefinancial assets at amortized costO investment in associate

Financial assets are highly liquid intangible assets that can provide future monetary benefits to…

Answered: Under which type of investment…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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25. A parent company’s investment account would include an element which is representative of : Multiple Choice the unrecorded difference between fair value and book value of the investee’s assets. the unrecorded book value of the investor’s assets. the goodwill accrued since the purchase of the investee. the recorded current value of the investee’s assets.
The aounts reflected in the statement of financial position do not reflect the liquadation value of the assets. Which of the following concepts is this applicable to? A. Consistency B Materiality C Conservatism D Going-concern
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The amount due from or at the direction of the grantor is accounted for by the operator from the contract that is in the form of Financial asset as:fair value through other comprehensive incomeamortized costany of thesefair value through profit or loss
When investments measured at amortized cost are reclassified to FVOCI, the gain or loss recognized in profit or loss is equal to * a. zero b. the amount realized to date c. the amount from beginning of period to reclassification date d.the amount from acquisition date to reclassification date e.none of the above
which of the following are fixed assets? Financial assets at fair value through profit or loss Interests in and advances to joint ventures, co-venturers and associates Property, plant and equipment Right-of-use assets Investment properties Trademarks, goodwill and other intangible assets Operating lease receivables Finance lease receivables
II. When the cárrying amount or the expected ultimate cost of the qualifying asset exceeds its recoverable amount or net realizable period shall not exceed the amount of borrowing costs it incurred I. The amount of borrowing costs that an entity capitalizes during a Which of the following statements is correct? in that period. value, the carrying amount is written down or written off i accordance with the requirements of other Standards. a. Ionly C. Both I and II b. II only d. Neither I nor II
Briefly discuss why research expenditure is expensed in profit orloss rather than capitalised as an intangible asset.
Which of the following is not a capital expenditure decision Select one: a. Improvement in fixed asset b. Purchase of goodwill c. None of the options d. Replacement in fixed asset e. R&D Expenditure
The following are properly classified as capital expenditure, except: a. Expenses to promote business goodwill b. Acquisition of intangibles c. Rentals under a “Lease-to-Own” agreement d. None of the above
Explain the adjustments made in the equity method when the fair value of the net assets underlying an investment exceeds their book value at acquisition.
Please describe how to account for market value and unrealized gains and losses for each of these investment categories: held-to-maturity, trading, and available-for-sale.

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