Which are the terms and condition on CONTRACT FOR FUTURE DEED?

Q: What is a purchase option? How does it affect accounting for a lease?

A: Purchase option : A purchase option is an agreement that gives the lessee a choice to purchase the…

Q: Explain Quitclaim Deed?

A: Quitclaim Deed: Quitclaim Deed is also called as non-warranty deed. A quitclaim deed is considered…

Q: What is meant by debentures?

A: A company has several sources from where it can raise funds. It can issue equity shares and the…

Q: which are the terms and conditions for OPTION CONTRACT WITH SIMULTANEOUS TITLE CLOSING?

A: The option contract is an obligation to purchase the property in the future at a fixed predefined…

Q: What is a land contract?

A: Land contract: A land contract is a course of action between a consumer and a dealer that applies to…

Q: Explain the term Land Contracts?

A: Land contracts: A land contract is an arrangement of vendor financing. It is alike to a loan, but…

Q: Describe the Rights of the Surety.

A: A surety is a person or entity that takes on the risk of another party defaulting on their debts or…

Q: What is the primary objective of the required lease disclosures for the lessor and lessee?

A:

Q: circumstances where the agent is granted compensation ?

A: The agents are appointed to perform or execute the functions on behalf of the principles, their…

Q: Explain when does a contract meet the definition of a lease?

A: According to IFRS 16 a lease is defined as, "a contract, or part of a contract, that conveys the…

Q: WHAT IS CONTRACTUAL LIFE OF ASSETS?

A: An asset is a resource of economic value which is own by an individual and a company and provides…

Q: Where can we obtain reliable guidelines on IFRS lease accounting?

A: It is dealing with where can we obtain reliable guidelines on IFRS lease accounting

Q: What is the purpose of valuation in terms of statutory dimension

A: The valuation is done to ensure that the book value of the assets are measured and recorded in…

Q: What is the vested benefit obligation?

A: Pension Obligation: It refers to the commitment provided by the employer to pay its employees, the…

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: What is the effect of loss of the thing or object in a contract of sale?

A: What is the Sale of contract: It is the legal contract between seller and buyer to sale the goods at…

Q: What are the features of lease?

A: The features of lease arrangements are, Residual type, Sale type leases, Bargain purchase option,…

Q: Define the contract liabilities.

A: Liability: Liabilities include the claims of the creditors on the assets of the business. The…

Q: right of use asset and a lease liability on the part of the lessee?

A: Lease -: A Lease is an agreement summarizing the conditions in which one party decides to rent…

Q: Define promissory note. Who are the original parties to a promissory note?

A: A promissory note is a valid, financial instrument in which one party guarantees another to settle…

Q: What are three similarities of a future contract and a forward contract?

A: Forwards are the contract made for the private placements while futures are traded under stock…

Q: What are the types of agreement related to sale-leaseback agreement?

A: Sale and Leaseback Agreement is a kind of financial transaction. This is a situation that arises…

Q: What are the critearia for determining if a fiduaciary relationship exists?

A: Fiduciary relationship represents the relationship that is between the trustee and beneficiary.

Q: What are the different types of future contracts? Explain each.

A: Future contract is referred to as the contract, which is made between the two parties where the…

Q: What are the reporting issues in a sale with a repurchase agreement?

A: Repurchase agreement: A form of short term borrowing for dealers in government securities is called…

Q: What is a forward contract?

A: Introduction: This question is related to the concept of financial derivatives. Derivative…

Q: What is the importance of date of declaration, date of record, and date of payment?

A: Following are the importance of declaration date, record date and payment date in accordance with…

Q: How does a seller allocate a transaction price to a contract’s performance obligations?

A: Transaction price: Transaction price is the amount of consideration that is estimated by the company…

Q: What is meant by issue of debentures as “Purchase Consideration”.

A: Debenture is a long term or medium term debt instrument issued to borrow loan.

Q: What is net interest? Identify the elements of net interest and explain how they are computed.

A: Net interest- Net interest typically is the difference between the interest earned by the…

Q: Describe about what is the lessor, lessee and lease contract.

A: Lease Contract:   Lease is a contractual agreement whereby the right to use an asset for a…

Q: In accounting for a Type A lease, how are the lessee’s and lessor’s income statements affected?

A: To state: how the lessee’s and lessor’s income statements are affected by finance lease/sales-type…

Q: What are the two obligations of postretirement plans?

A: Defined benefit pension plans are the retirement designs that include providing a fixed and…

Q: How does a seller financing differ from a land contract ?

A: In the real estate context, seller financing means the seller transfer the title to the buyer of the…

Q: What do you mean by “Trust Deed” in context of debenture?

A: A trust deed moreover called a deed of trust could be an archive that's often used in Joined…

Q: Describe the conditions when contract assets and liabilitiesare recognized and presented in…

A: Contract assets: It is the right of the firm to receive payment for the goods transferred or…

Q: What are the two things that happened in the sale-leaseback agreement?

A: Sale and Leaseback Agreement is a kind of financial transaction. This is a situation that arises…

Q: What is indentures?

A: An indenture is a legal contract that states the advantages and commitments of two or more parties…

Q: Why should a real estate listing contract be in writing and what are the essential elements of a…

A: Real estate contracts refer to legal aggreement between different parties. It is enforceable by law…

Q: characteristics of the contract of pledge?

A: Answer: Contract of pledge can be defined as the contract that is established between the parties…

Q: Explain the nature of interest on debentures.

A: A fixed amount of money which is paid in the form of interest to the holders of the debentures at…

Q: Explain the requirements for the formation of a suretyship relationship.

A: Intrduction : A suretyship arrangement is described as a relationship in which a third person, the…

Q: What are executory costs? How are they accounted for by the lessee in a capital lease when paid by…

A: Executory costs are the costs related with ownership of an asset which includes maintenance…

Q: Which are the General Contents of Leases?

A: Lease is a contract between two parties (lessor and lessee), where one party (lessor) gives right to…

Q: What is Accumulated benefit obligation?

A: