types of even... Transactions include which two types of events? Multiple Choice Monetary events and production events. External exchanges and internal events. Direct events and indirect events. Current events and future events.

Q: Explain the differences between upstream and downstream intra-entity transfers, as well as how each…

A: Intra-entity transfer refers to transfer of goods or products among the entities. More often, such…

Q: Which of the following is not a primary function of Money? a. All the options are correct b.…

A: Money is any item or verifiable record that is generally accepted as payment for goods and services

Q: What would happen if both GAAP and IFRS adopted fiar value accounting? Consider both consoldiation…

A: GAAP GAAP, or usually Accepted Accounting Principles, could be a commonly recognized set of rules…

Q: The two major translation methods currently used are:      a. Historical exchange rate and…

A: correct option is D i.e. current rate and temporal

Q: Distinguish between economic events and support events and provide examples of each.

A: Definition: Economic event: Economic event means events that include transferring the ownership…

Q: Which of the following refers to the transaction in which the exchange of currencies takes place at…

A: Introduction: Foreign exchange: Buying and selling of different countries currencies called as…

Q: Horizontal analysis involves: Multiple Choice Comparing individual financial statement line items…

A: The horizontal analysis is used to measure the change over the last year. It is helpful for the…

Q: a)  Explain the difference between: Capital expenditure and revenue expenditure, giving an example…

A: Capital Expenditure: It is a expenditure made by company to acquire or renovate a property, plant or…

Q: ill of exchange important? Why

A: Bill of exchange is some sort of promise to other that he will pay the given amount on a given date…

Q: Which of the following is not an established method of translation? O a. Forward method O b.…

A: If a business entity operates in other countries, different currencies are used for reporting the…

Q: al Currency, Functional Currency and Pre

A: Local currencies are currencies that circulate mostly locally and at a community level. They work as…

Q: Each economic event or transaction will have a dual effect on financial position. Explain what is…

A: Accounting transaction: Accounting exchanges are those exchanges that legitimately influence the…

Q: ortion

A: Corporation earning can we sub divided into parts  Use to distribute the dividend  Retain the…

Q: Define Monetary/non-monetary method

A: Monetary and Non-Monetary Method Monetary Assets/Liabilities - Assets/Liabilities whose value…

Q: As per the​ ________, the entity will remain in operation for the foreseeable future.

A: Going concern assumption represents that the company would continue to operate business. It would be…

Q: Exchange differences in translating financial statements are recognized in profit or loss, while…

A: Exchange Differences - It is the difference translating of one currency unit to another currency at…

Q: the assumption that a single, identifiable unit must be accounted for in all * situations is…

A: Accounting principles means those set of standards which is followed while preparing the books of…

Q: To know whether a particular situation for a family, business, or government involves an equilibrium…

A: In order to determine whether a particular situation for a family, business, the government is in…

Q: Give a detailed answer to the theoretical question Display graphically and explain the mechanism of…

A: Bills of exchange indicate a written agreement stating the obligation of one party to pay the due…

Q: Trade and other payables includes what?

A: The balance sheet is the financial statements of the business that show the assets and liabilities…

Q: Explain “functional currency” and suggest one indicator that an entity may consider to determine its…

A: Functional currency is the currency that is used by an entity to record its business transactions.…

Q: Balance Sheets show the Flow of Assets and Liabilities between one accounting period and another.…

A: Answer:- True Explanation:- Balance sheet is one of the most important financial statement of an…

Q: what is the difference between co-pay and coinsurance

A: Coinsurance and copays are different variants of cost sharing arrangement between health insurance…

Q: Define trade credit

A: Trade refers to the buying and selling of the goods and services. Trade can be between business to…

Q: Which of the following transactions qualify as like-kind exchanges? You must support your answer for…

A: A like-kind exchange, also known as a like-kind exchange, seems to be a tax-favored deal that…

Q: Forward contracts are: Answer a. Contracts usually involving the exchange of a commodity or…

A: A forward contract is a customized contract between two parties to buy or sell an asset at a…

Q: Unless otherwise stated, financial transactions assume the compounding frequency is greater than the…

A: Compounding frequency is times for which investment is compounded

Q: Briefly describe the concepts of; Letter of credit, trade deficit, negotiable instrument and credit.

A: Letter of credit is a financial instrument that is used as a mode of payment specifically for…

Q: Under IFRS, how is presentation currency defined? The currency in which the financial statements…

A: Presentation Currency: This is the presentation currency is the term given to the monetary unit in…

Q: uestion, the unilateral transfer is stated as a debit, but in the calculation for the answer, it is…

A: Balance of Payments is nothing but the record of the economic transactions of the residents of a…

Q: Explain the meaning of a "trade balance"

A: Answer: Trade Balance is basically the difference between the country's imports and exports. It is…

Q: difference between Trade Payable and Other Payable with relevant examples

A: Trade Payable and Other Payable are current liabilities of a business to be payable within one…

Q: Define Historical exchange rates

A: exchange rates: value of one currency for the purpose of conversion into another currency.