Which of the following statement/s are correct? (a) According to fair value measurement, assets are carried at the present discounted value of the future net cash inflows the item is expected to generate in the normal course of the business. According to the current value measurement basis, liabilities should be recorded at the amount paid or the fair value of (b) the consideration given to acquire the liability at the time of their acquisition. (c) According to fair value measurement, liabilities are carried at the present discounted value of the future net cash outflows that are expected to be required to settle the liabilities in the normal course of business. (d) The most commonly adopted method to recognise and measure the elements of financial statements is the historic cost method. (e) exchange for the obligation. or in some circumstances at the amounts of cash or cash equivalents expected to be paid to satisfy According the current value measurement basis, assets should be recorded at the amount of proceeds received in the liability in the normal course of the business.
Which of the following statement/s are correct? (a) According to fair value measurement, assets are carried at the present discounted value of the future net cash inflows the item is expected to generate in the normal course of the business. According to the current value measurement basis, liabilities should be recorded at the amount paid or the fair value of (b) the consideration given to acquire the liability at the time of their acquisition. (c) According to fair value measurement, liabilities are carried at the present discounted value of the future net cash outflows that are expected to be required to settle the liabilities in the normal course of business. (d) The most commonly adopted method to recognise and measure the elements of financial statements is the historic cost method. (e) exchange for the obligation. or in some circumstances at the amounts of cash or cash equivalents expected to be paid to satisfy According the current value measurement basis, assets should be recorded at the amount of proceeds received in the liability in the normal course of the business.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
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Transcribed Image Text:Which of the following statement/s are correct?
(a)
the item is expected to generate in the normal course of the business.
According to fair value measurement, assets are carried at the present discounted value of the future net cash inflows
(b)
the consideration given to acquire the liability at the time of their acquisition.
According to the current value measurement basis, liabilities should be recorded at the amount paid or the fair value of
(c)
that are expected to be required to settle the liabilities in the normal course of business.
According to fair value measurement, liabilities are carried at the present discounted value of the future net cash outflows
(d)
method.
The most commonly adopted method to recognise and measure the elements of financial statements is the historic cost
(e)
exchange for the obligation. or in some circumstances at the amounts of cash or cash equivalents expected to be paid to satisfy
the liability in the normal course of the business.
According the current value measurement basis, assets should be recorded at the amount of proceeds received in
A. b, c, d and e.
B. a, b and c.
C. ac and d.
D. a, b, c, d and e.
E. c, d and e
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