QUESTION 33 Possession (not ownership) to real property is commonly acquired by an agreement called a: O a) Deed O b) Lease O c) Bill of Sale O d) Articulation
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- Section 197 intangible property acquired as part of an acquisition of a business is amortized over what?Ch. 16 _______ specifies an action that the company agrees to take or a condition the company must abide by. Group of answer choices milking the property marketable claims negative covenant positive covenantQ29 If a property is partly use by the owner for own use and the other part is held for earning rentals or capital appreciation, then: Select one: a. The entire property is investment property b. The owner occupied property is investment property c. The part held for earning rentals or capital appreciation, if it can be sold or leased out separately shall be classified as investment d. The property cannot be classified as investment property
- The rights of financial claim to the assets are called equities Question 9 options: True FalseIAS 23 “Borrowing Costs” regulates the extent to which entities are allowed to capitalize borrowing costs incurred on money borrowed to finance the acquisition of certain assets.Required:State two (2) conditions to be met for: i) Capitalization of borrowing costs to commence. ii) Capitalization of borrowing costs to cease.Question 20 What is the principle for recognition of a financial asset in PFRS 9? Group of answer choices A financial asset is recognized when, and only when, it is probable that future economic benefits will flow to the entity and the cost or value of the instrument can be measured reliably. A financial asset is recognized when, and only when, the entity becomes a party to the contractual provisions of the instrument. A financial asset is recognized when, and only when, the entity obtains control of the instrument and has the ability to dispose of the financial asset independent of the actions of others. A financial asset is recognized when, and only when, the entity obtains the risks and rewards of ownership of the financial asset and has the ability to dispose of the financial asset. Question 19 Investments in equity instruments are financial assets because they are Group of answer choices Cash equivalents. Contractual rights to receive cash or another financial…
- IAS 23 “Borrowing Costs” regulates the extent to which entities are allowed to capitalize borrowing costs incurred on money borrowed to finance the acquisition of certain assets. Required: State two (2) conditions to be met for: Capitalization of borrowing costs to commence. Capitalization of borrowing costs to cease.Q: part ii): a) What is interest and explain the main types? b)Amortization Schedule44. The right-of-use asset is increased by lease prepayments made by the lessee and initial direct costs incurred by the lessee. lease incentives received. initial direct costs incurred by the lessee only. prepaid lease payments only.
- T/F 1.Sale is a mode that gives rise to a title 2. Nominate which means that it has been given a particular name by law. A certain set of provisions will be applicable In trying to construe issues related to the contract.Question #71 of 85 Question ID: 1251878 For which of the following sources will the transferee of assets be certain to receive a basis in the assets equal to the asset's fair market value on the date of transfer? From a decedent's testamentary trust By inter vivos gift By intestate succession From a revocable living trust after the grantor has died A) II and III B) I and II C) I and III D) I, III, and IVq13 According to IFRS, which accounting policy may an entity apply to measure investment property in periods subsequent to initial recognition? Select one: a. Fair value model or revaluation model. b. Cost model or fair value model c. Fair value model only. d. Cost model or revaluation model.