ADVANCED ACCOUNTING W/ACCESS >CUSTOM<
ADVANCED ACCOUNTING W/ACCESS >CUSTOM<
14th Edition
ISBN: 9781307594683
Author: Hoyle
Publisher: MCG/CREATE
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Chapter 8, Problem 6P

Which of the following is not necessarily true for an operating segment?

  a.    An operating segment earns revenues and incurs expenses.

  b.    The chief operating decision maker regularly reviews an operating segment to assess performance and make resource allocation decisions.

  c.    Discrete financial information generated by the internal accounting system is available for an operating segment.

  d.    An operating segment regularly generates a profit from its normal ongoing operations.

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On December 31, 2018, Blackpink Company, a financing institution lent ₱15,000,000 to YG Corp.  due 3 years after. The loan is supported by an 12% note receivable. Based on the company’s  initial estimates the present value of the 12 months expected credit loss (ECL) discounted at 10%  is at 2,000,000. The probability of default (PD) is at 7%.  Blackpink Company was able to collect interest as it became due at the end of 2019. There was no  evidence of significant increase in credit risk by the end 2019 and that the receivable is  determined to have “low credit risk”. There were no changes in its initial estimate of the 12  months expected credit loss either.  By the end of 2020, Blackpink Company was able to collect interest as it became due. Based on  available forward-looking information (determinable without undue cost or effort), however, there  is evidence that there was a significant increase in credit risk by the end of 2020. Blackpink  Company therefore had to change its basis…
On December 31, 2018, Blackpink Company, a financing institution lent ₱15,000,000 to YG Corp.  due 3 years after. The loan is supported by an 12% note receivable. Based on the company’s  initial estimates the present value of the 12 months expected credit loss (ECL) discounted at 10%  is at 2,000,000. The probability of default (PD) is at 7%.  Blackpink Company was able to collect interest as it became due at the end of 2019. There was no  evidence of significant increase in credit risk by the end 2019 and that the receivable is  determined to have “low credit risk”. There were no changes in its initial estimate of the 12  months expected credit loss either.  By the end of 2020, Blackpink Company was able to collect interest as it became due. Based on  available forward-looking information (determinable without undue cost or effort), however, there  is evidence that there was a significant increase in credit risk by the end of 2020. Blackpink  Company therefore had to change its basis…
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Chapter 8 Solutions

ADVANCED ACCOUNTING W/ACCESS >CUSTOM<

Ch. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - The management approach requires a firm to define...Ch. 8 - What is an operating segment?Ch. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10Q
Ch. 8 - Prob. 11QCh. 8 - To satisfy geographic area disclosure...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - Prob. 16QCh. 8 - Prob. 17QCh. 8 - How does a company determine the amount of income...Ch. 8 - Prob. 19QCh. 8 - Prob. 20QCh. 8 - What type of segment information must companies...Ch. 8 - How would an annual bonus paid at year-end be...Ch. 8 - Which of the following does U.S. GAAP not consider...Ch. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Which of the following is not necessarily true for...Ch. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Which of the following items is required to be...Ch. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Which of the following information items with...Ch. 8 - Prob. 14PCh. 8 - In considering interim financial reporting, how...Ch. 8 - How should material seasonal variations in revenue...Ch. 8 - Prob. 17PCh. 8 - Prob. 18PCh. 8 - Prob. 19PCh. 8 - Niceville Company pays property taxes of 100,000...Ch. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Noventis Corporation prepared the following...
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