Differentiate between Independent and Mutually Exclusive projects​​

Q: Q2: “Goodwill cannot be said to depreciate”. Explain the statement.

A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…

Q: The like-kind exchange rules are elective. True or false

A: Like kind exchange is when money from selling one assets is invested in similar types of assets than…

Q: - subsidiary be valued

A: Investment in subsidiary held for sale is valued as per PFRS 5 - Non current assets held for sale…

Q: What condition(s) qualif

A: A variable interest entity (VIE) refersto a legal business structure in which an capitalist features…

Q: correct

A: Correct Answer :- C 6000 Gain

Q: What is a VIE? State it's full form and meaning.

A: Explain the term variable interest entity (VIE). A legal business structure is known as a variable…

Q: Define subordinated debenture

A: Companies issue the debentures against the assets to raise the funds easily from the public and pays…

Q: Explain preemptive right

A: Answer: A pre-emptive right is a benefit that can be granted to other owners in a company that gives…

Q: Contrast the constructive receipt doctrine with the claim of right doctrine.

A: As per the constructive receipt doctrine, a tax payer is required to pay taxes on income even if the…

Q: (a) Effective ann (b) Present wort

A: Introduction: The effective annual rate can be defined as a real rate which is earned from a loan or…

Q: What is meant by “right of return”? “Bill and hold”?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: Q1:Examples of the following: Gharrar in Wordings Gharrar in Subject Matter Gharrar in…

A: Examples of gharar in wordings (1) In finanace gharar is discovered among derivatives transactions…

Q: Define each of the following terms:c. Absolute priority doctrine; relative priority doctrine

A: Absolute priority doctrine: Absolute priority doctrine is the primary law of bankruptcy that has…

Q: Define Temporary difference.

A: Definition:   Account: Account is the basic record that reports all changes in the value of…

Q: Explain the principle of “separate legal entity”.

A: Bookkeeping means recording the transactions which have any monetary value. It is the business…

Q: Difference of Perpetual and Peiodic

A: Perpetual:-It is the inventory management system that keeps the record of the inventory in…

Q: Briefly explain the concepts of temporary difference and permanent difference

A:

Q: What is an estoppel? Why is it used?

A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…

Q: What are asserts

A: What are assets?

Q: ontr

A: Definition of a Contract: A contract is a legally enforceable agreement. It might be a promise to do…

Q: ue of the expansic

A: In this we have to calculate present value of cash inflows and outflows.

Q: Distinguish between cumulative or noncumulative?

A: cumulative and noncumulative preferred is assumed since the key term is not given.

Q: 1. How is the separation of duties performed

A: Separation of duties is also termed as segregation of duties. segregation of duties is internal…

Q: Question No 01                                                                   What is a…

A: Partnership- It is an agreement between two or more people to contribute capital to a business,…

Q: a) Explain the concepts: Single Entity Concept, Control and Fair value.

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the two elements of being independent? A. Independence of rights and obligations  B.…

A: Independent auditor is Chartered Accountants who examine the financial statements, financial records…

Q: _______________________must follow GAAP, whereas_________________ need not follow GAAP.

A: Publicly traded companies must follow GAAP, whereas Management Accounting need not follow GAAP.

Q: What two conditions must valid entities meet?

A: Entity:   Entity in the context of database management implies anything regarding which data is…

Q: 1. A and B are partners im

A: A partnership agreement is an interior business contract that outlines specific business practices…

Q: föllowing. repare adjus unof au

A: Journal is the book of prime entry.  The adjusting entries…

Q: Explain Doctrine Separate Legal Entity

A: Doctrine separate legal entity is a concept related to Company / Corporation. The concept is…

Q: ANSWER THE QUESTION USING PRO-FORMA STATEMENT

A: Proforma income statement shows budgeted amount of sales revenue as well as budgeted or estimated…

Q: ion: Two (2) kinds of independence under the conceptual approach (with brief description)

A: Answer: The conceptual approach is the approach to set the standards during the period of audit.…

Q: What is an unasserted claim?

A: An unasserted claim or assessment is one in which the affected party or potential claimant has not…

Q: What does the term "no mutual agency" mean

A: Introduction:- No mutual agency is one of the Advantage of the corporate form of business.

Q: G and H are mutually exclusive events. P (G) = 0.5   P (H) = 0.3   P( H | G) = 0.6   Find P…

A: Given: P(G) =0.5,P(H)=0.3,P(H|G)=0.6 The events are mutually exclusive events.

Q: O a. Dual aspect

A:

Q: b) Briefly describe how the fair value model, as allowed by LAS 40, is applied.

A: As per IAS 40 Investment property,  Investment property is property held to earn rental revenue or…

Q: Define duality.

A: Duality is related to happening of an economic transaction. This concept arises when any transaction…

Q: blem 2: pose they did not stipulate as to its be divided?

A: Meaning of Partnership Partnership refers to an association of multiple individuals who invest…