9. Which of the following statements is correct? The term non-current assets įncludes tangible, intangible, and financial assets of a short-term nature. а. b. The operating cycle of an entity is the time between the acquisition of assets for processing and their realization in cash or cash equivalents. С. Information about the expected dates of realization of assets and liabilities is useful in assessing the liquidity and 'solvency of an entity. d. An entity often makes financial statements more understandable by presenting information in thousands or millions of units of the presentation currency.

Q: Discuss the basic accounting problem that arises in handling each of the following situations. a.…

A:

Q: The valuation of a promise to receive cash in the future at present valueon the financial statements…

A: Financial accounting involves various accounting principles, concepts, and assumptions for preparing…

Q: The characteristics of current assets are (Choose the INCORRECT answer) a) They are converted to…

A: Those assets that are convertible in cash and cash equivalents within time span of a year is term as…

Q: PFRS 9, Financial Instruments deals with the measurement and classification of which of the…

A: Financial Instruments deal with the measurement and classification of financial assets, Financial…

Q: d o

A: The correct answer is  C) Traffic speed of suppliers

Q: Q7) Which of the following formula does NOT reflect the firm’s liquidity? Group of answer choices…

A: Liquidity is the ability to convert asset into cash. Liquidity is very important for any…

Q: 7-One of the objective of financial reporting is that correct and authentic information should be…

A: The historical cost follows the conservative accounting concept and it prevents companies from…

Q: Depending on the business model for managing financial assets, an entity shall classify financial…

A: A financial asset is a liquid asset with a contractual right or ownership claim as its source of…

Q: A company's cash flows from investing activities include cash transactions relating to the purchase…

A: Investing Activities are those activities which are related to the purchase or disposal of the…

Q: Which of the following statements is not an objective of financial reporting?  a.  To provide…

A: THE OBJECTIVE OF FINANCIAL REPORTING IS TO TRACK ANALYSE AND REPORT YOUR BUSINESS INCOME . THE…

Q: 4. Financial liabilities other than FVPL liabilities are initially measured at fair value plus…

A: * As per bartleby guideline , if questions are interlinked answer first 3 only   Measurement of…

Q: q27 The classification and therefore subsequent measurement of financial assets depends on…?…

A: Financial assets are one of the form of liquid assets. It includes cash, stocks, shares, mutual…

Q: If a company has asset classes that include short-term and long-term investments, what criteria…

A: Cash Equivalents The short term investments that can be easily converted into cash in the business…

Q: 19. The current assets section of the statement of financial position should include *   b.…

A: Current assets means those assets which will be converted in to cash in near future generally one…

Q: Which of the following statements best describes the term “going concern”? The expenses of an entity…

A: Going concern concept is the ability of the entity to continue running its operation for the…

Q: TRUE OR FLASE? An entity must make the current and noncurrent presentation of assets and…

A: Assets are the resources owned by an entity either for sale (such as inventory) or for the future…

Q: Item 6 of 25 In cash flow analysis, the cash flows from operating activities Select the correct…

A: Cash flow from operating activities is an essential component reported in the cash flow statement.

Q: Assume that the assets are converted to cash at the estimated current values and the business is…

A: 1. When a company liquidates, there are various creditors a company has to pay. Types of creditors…

Q: What is unique about reporting current assets? Current assets are reported after they are converted…

A: Current assets can be exchanged for cash within a year.

Q: How are assets to be reported when the liquidation basis of accounting is being applied?a. At cost…

A: Assets cannot be reported at its fair value, book value (cost less accumulated depreciation), or…

Q: Liquidity is simply: O a. another term for non-current assets O b. a company's ability to pay…

A: Liquidity is the ability of the firm to repay its current liabilities.  it's the ability of the firm…

Q: Which statement is incorrect? A. An entity shall report cash flows from operating activities either…

A: Cash flow statement is one of the four main financial statement. Cash flow statement shows the…

Q: Once determined, the functional currency is *   A. No answer B. Changed every time new PFRS is…

A: As per PAS 21 Functional currency  is the currency of the primary economic  environment in which…

Q: classification of the changes below into Operating, investing and financing activities for statement…

A: The Numerical Has Covered the concept of cash flow statement . The Cash flow Statement has divided…

Q: Statement 1: An entity shall report cash flows from operating activities either using direct or…

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: An entity has financial assets held under a business model with the objective of holding financial…

A: The business model is the model in which the company aims to earn revenues for a regular period. In…

Q: Intangible assets are often combined with_______________assets for measurement and recognition in…

A: Intangible assets means those assets which do not have any physical presence and that can only be…

Q: If a company has asset classes that include short-term and long-term investments, what criteria…

A: Step 1 As per US GAAP, the proper classification should be required in the financial statements for…

Q: Capital expenditure involves: Select one: O a. Exchange of current liabilities to acquisition of…

A: Assets can be divided into two parts fixed assets and current assets, fixed assets are the assets…

Q: An objective of the statement of cash flows is to disclose changes during the period in all asset…

A: The cash flow statement is part of the financial statements of the company. It is prepared at the…

Q: Depending on the business model for managing financial assets, an entity shall classify financial…

A: A financial  asset can  be measured  at Fair value  through  profit or loss

Q: The primary purpose of the statement of cash flows is to provide information   Question 206 options:…

A: Introduction: Statement of cash flows: All cash in and out flows are shown in statement of cash…

Q: Investing activities are defined as 'the acquisition and disposal of long-term assets (including…

A: Cash flow statement means the statement which shows the cash flow in or out of business enterprises…

Q: PFRS 9 requires entities to measure their financial assets

A: PFRS 9 requires entities to measure their financial assets based on The contractual cash flow…

Q: 2. Identify, under the appropriate heading, whether the following changes are an inflow of cash or…

A: Cashflow Statement of a company shows the liquidity and solvency position of the company.

Q: Financing activities involve O cash receipts from sales of goods and services. O long-term liability…

A: Cash receipts from sale of goods and services are operating activities. Therefore, this option is…

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: In which section of the statement of financial position should cash that is restricted for the…

A: Financial Position: The statement of financial position represents the financial information about a…

Q: Which of the following would an analyst most likely be able to determine from a common-size analysis…

A: In common size statements individual figures are converted into percentages to some common base.…