one or more of the following statements are characteristics of assets: a. a probable future benefit b. a particular entity obtains the benefit and control others’ access to it c. does not give the rise to the entity to control the benefit d. a +b

Q: Entity A issues an instrument that is re-purchasable by delivering cash or another financial asset.…

A: Answer (4). Option A is the correct answer.

Q: A resource owned by the business with purpose of using it for generating future profit, is known as…

A: Assets: Anything of worth or a resource of value that may be turned into cash is referred to as an…

Q: Which of the following elements represents an economic resource? B . Liability.

A: The variables being used to manufacture products or provide services are economic assets. That is to…

Q: Which of the following are recognized in other comprehensive income?       service cost

A: The other comprehensive income includes the revenues and expenses of the company. The assets and…

Q: The principal difference between two concepts of capital maintenance is the treatment of the effects…

A: CAPITAL: Capital refers to the assets used for the production of goods and services. A typical…

Q: For which of the following does IFRS for SMEs not provide a simplification of full IFRS?a.…

A: IFRS for SMEs: The majority of companies are non-traded company. These private companies are called…

Q: Choose the correct. Which of the following items is required to be disclosed by geographic area?a.…

A: Information for the segment needs to be disclosed by geographic area. a. Total asset is the…

Q: An investment property should be measured initially at O A. Cost. B. Cost less accumulated…

A: Investment property is a kind of asset that is part of the balance sheet of the company. It means…

Q: All changes in an entity's exonomic resources and claims to those resources result frim the entity's…

A: Changes in economic resources and claims: Changes in a reporting entity's economic resources and…

Q: Purchasing power gain or loss results from: a. Monetary asset only b. Monetary liability only c.…

A: This question is answered as per IAS 29 "Financial Reporting in Hyperinflationary Economies".

Q: Which of the following would not explain the difference between current and non-current assets?…

A: What are currents assets and non current assets let us understand that first.  Current assets are…

Q: The primary objective of financial management Can be in the form of   a. Maximise the entity’s asset…

A: Financial management means management of funds or finance in the business. It is about making future…

Q: A currently maturing obligation of the entity is classified on the SFP as a?

A: Here SFP stands for statement of financial position. In a SFP different assets and liabilities are…

Q: According to the acquired assets should be recorded at the amount actually paid rather than at the…

A: Lets understand the each option given for the question to determine the correct answer. Monetary…

Q: How does the Conceptual Framework define an asset?   Select one alternative A resource to which…

A: Introduction : The conceptual frameworks can be understood as the textual or graphical depiction of…

Q: one of the following is a definition of asset: a- a present economic resource controlled by the…

A: An asset is a resource with economic value that a firm controls in lieu of that it will provide a…

Q: An entity starts the capitalization of borrowing costs to the cost of a qualifying asset when *…

A: Borrowing costs are costs that are incurred for borrowing money for the purpose of acquisition,…

Q: What is ascertained from the income and expense of an entity?

A: Profit and Loss is the difference between income or expense.  If income is more than the expense, it…

Q: In the statement of financial position, investment of a specific entity OA Can be classited as…

A: In statement of financial position, it includes Assets, Liabilities and  Equity of the company are…

Q: The types of assets that qualify for interest capitalization are Assets that are ready for their…

A: Interest capitalization means the amount of interest which is added in the cost of asset instead of…

Q: Find the attached file.

A: Asset: It can be defined as any valuable resource that is controlled and owned by the business and…

Q: Access the glossary (“Master Glossary”) to answer the ­following. a.    What does it mean to…

A: Answer: To capitalize an item means to use the item for the long term in the business and disclose…

Q: A right of use asset is initially measured at costs and subsequently measured using the  A. Cost…

A: An asset is the resource owned by the company for using it in the future.

Q: In order for an asset to be recognized in the financial statements, which of the following…

A: Asset refers to the kind of resource that could easily be converted into cash and it includes…

Q: assets are usually valued under which basis

A: All business concerns need resources , which are called assets. These are initially provided by…

Q: Which of the following factors, if present, would indicate that a transaction is not a contribution?…

A:

Q: Which of the following features of an asset closely links its definition to the scien Economics? A.…

A: Asset refers to any resource which is owned or controlled through the business and it is anything…

Q: Which of the following statement best defines an asset?

A: As question is MCQ type it will be answered with explanation.

Q: Identity the economic resource that has the ability to give economic benefits___________ a. Capital…

A: Asset is an economic resource that has the ability to give economic benefits... option D asset is…

Q: An entity starts the capitalization of borrowing costs to the cost of a qualifying asset when O…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: 1. All of the following are components of the defined benefit cost except *   unvested past service…

A: Solution Note Dear student as per the Q&A guideline we are required to answer the first question…

Q: __________ is defined in the Conceptual Framework as ‘a present obligation of the entity to transfer…

A: The accounting process includes the bookkeeping process which involves the journal entry of the…

Q: Th e assumption that an entity will continue to operate for the foreseeable future is called: B .…

A: The assumption that an entity will continue to operate for the foreseeable future is called Going…

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 amount due from or at the direction of the grantor is accounted for by the operator from the…

A: When the operator recieves a financial asset from the grantor, it is measured at fair value.

Q: Identify the economic resource that has the ability to give economic benefits. a. Expense b.…

A: Economic resources are those resources that provide benefits to the organization through generating…

Q: Which one of the following is an essential characteristic of an asset? A. The inflow of future…

A:

Q: Distinguish between the “cost model” and “fair value” model of accounting for investment property.

A: Investment property is land or a building (including a part of a building) or both that is: →held to…

Q: Describe the terms of Contingent Assets with examples.

A: Contingent Asset are the assets which have not yet been realized, but they may realize upon…

Q: Which of the following assets have definite physical share or identity and existence? [A]…

A: Assets:   These are the resources owned and controlled by business and used to produce benefits for…

Q: In an acquisition of assets, the acquirer must give up which of the following? A. Other Assets B.…

A: In business combination, acquirer is the company who invested in another company or purchase another…

Q: The difference between fixed assets and ong term liabilities of a business concern is ermed as

A: The correct answer is  ) None of the options    Liabilities refer to money you owe, and long-term…

Q: Which of the following is considered not a Capital expenditure? a. Training costs b. Delivery costs…

A: Lets understand the basics. As per IAS 16 "Property, plant and equipment", initial cost for PPE…

Q: According to the revised Conceptual Framework, income and expenses are classified as either Select…

A: Hi student Since there are multiple questions, we will answer only first question.  The main purpose…