Which of the following is not a current asset
Q: 4. Statement 1: In the sale of a financial asset measured at fair value through OCI, the difference…
A: Note Recognition of Financial assets is based on its business model a) for managing the asset and b)…
Q: 3. In part (2), assume that the two hedged items involved the purchase of inventory. Explain how the…
A: The forward value of the contract at every date indicates the effect on the value calculated for the…
Q: 9. Which of the following statements is correct? The term non-current assets includes tangible,…
A: The operating cycle represents the time lag between buying the goods and converting them in the form…
Q: Which one of the following category Cash in hand belong to? a. Non-current asset b. Fictitious asset…
A: Non-current assets are supposed to be converted into cash after 12 months of period. Fictitious…
Q: Which statement is incorrect regarding presentation and disclosure of financial assets? a.…
A: Solution: The incorrect statement regarding presentation and disclosure of financial assets " The…
Q: 9. Which of the following statements is correct? The term non-current assets įncludes tangible,…
A: As per our protocol we provide solution to one question only but you have asked multiple questions…
Q: the inflows and outflows method, the following are considered exceptional inflows: A) Interest…
A: Inflows and outflows method specifies the process of evaluating all the desired cash that comes into…
Q: _________________ is the excess of current assets over the current liability of the concern during a…
A: Working is the difference between aggregate of all current assets minus current liabilities
Q: 5. This is a class of asset that are not essentials in the on going operations of the business. A.…
A: A valuable resource that a person, company, or country owns or controls with the purpose of…
Q: 1. What amount should be reported hyperinflationary statement of financial position? as total assets…
A: Statement of financial position is one of the financial statements of a company, prepared at the end…
Q: Which of the following is reported as other comprehensive income in accordance with PAS 1,…
A: Lets understand the basics. As per PAS 1 "Presentation of financial statement", following items…
Q: Which one is generally the least liquid? a. Patents b. Buildings c. Inventory d. Equipment…
A: The least liquid assets are those assets that are not easily convertible into cash or liquid asset.…
Q: How are assets to be reported when the liquidation basis of accounting is being applied?a. At cost…
A: Assets cannot be reported at its fair value, book value (cost less accumulated depreciation), or…
Q: REQUIREMENTS: 11. How much is the total assets in the combined statement of financial position? 12.…
A: Financial statement: Financial statements are defined as the statement that reflect the summary of…
Q: Accounts receivable is ______________ of an organization. a. Current assets b. Current liabilities…
A: Current assets are all the assets of a company that are expected to be converted into the cash…
Q: The rights of financial claim to the assets are called equities Question 9 options: True…
A: The answer is stated below:
Q: Choose the correct. How are assets to be reported when the liquidation basis of accounting is being…
A: Assets cannot be reported at its fair value, book value (cost less accumulated depreciation), or…
Q: 7) Which of the following is the formula for calculating Quick Ratie a. Total Debt/Total Assets b.…
A: Quick ratio can also be called as acid test ratio or liquidity ratio. it can be used to measure the…
Q: Q5. Distinguish between fraudulent financial reporting and misappropriation of assets. Discuss the…
A: 1) Fraudulent financial reporting - It is purposely done by the company to alter their financial…
Q: Which of the following is not an expense adjustment? A. None of the above B. Consumable inventory…
A: Expense: It can be defined as the cost incurred by the business for continuing its operations and…
Q: 6. Which of the. following techniques overstate long-lived assets? a. Overvalue existing assets. b.…
A: The answer is given below: Note: Answering the first question as there are multiple…
Q: Which of the following will be affected by an increase in the provision for doubtful debts? Gross…
A: The question is multiple choice question Required Choose the Correct Option.
Q: st is usually factual and verifiable. Current fair market value as established by independent…
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…
Q: The accounting treatment for depreciation expense in the balance sheet will be: a. Deducted from the…
A: Solution: The accounting treatment for depreciation expense in the balance sheet will be "Deducted…
Q: 46. Recognition of depreciation Debit Credit a. Depreciation expense b. Depreciation expense c.…
A: Depreciation is a fall in the value of an asset because of usage or with efflux of time or…
Q: 38. Which of the following account statements regarding assets is not true?
A: An asset is a resource that has economic worth to a corporation and can be used to create money in…
Q: Investing activities involvewhich of the following? a) borrowing and repaying of debt. b)…
A: cashflow statement can be divided into three parts: investing activites financing activites…
Q: 2) Accounts receivable erroneously debited to note receivable Effect on retained earnings -Since…
A: We know that both the accounts receivable and notes receivable are current assets. Retained earnings…
Q: 11. Which type of financial assets are purchased only with the intent of selling them in the near…
A: FVTPL is subsequently measured at fair value Any gain and loss in the fair value measurement to be…
Q: Which of the following statement is correct about the statement of affairs?
A: choice questions kindly resubmit remaining question. Companies whenever went for the liquidation…
Q: 1(a) State with reason whether the following statements are true or false (i) Change in Method of…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Which of the following in accounts would be classified as current assets on the balance sheet? a.…
A: Assets Resources that a company owns and these resources can provide some future benefits to the…
Q: The effect of which is recognized directly in equity rather than in surplus or deficit Correction…
A: The answer is provided as follows:
Q: 35. Which of the following is/are a limitation(s) of a Balance Sheet? I. It does not contain…
A: Balance sheet: It is one of the company's financial statements that shows all of its liabilities,…
Q: b) IAS 32 makes it clear that the following items are not financial instruments.i. Physical assets,…
A: Financial instruments:Financial instruments are defined as the virtual document having monetary…
Q: - In the inflows and outflows method, the following are considered exceptional inflows: A) Interest…
A: The correct option in the given question is (A) Interest earned on investment and sale of…
Q: Question 12 Costs that are capitalized: O Show up as an expense on the income statement without ever…
A: Capital expenditure are those expenditures which relate to procurement, installation or development…
11-
Step by step
Solved in 2 steps
- 17 - Which of the following is not included in the assets of the business? A) VehiclesB) Receivables C) FixturesD) Bank deposit E) Capital14 The entry to record transaction costs for financial assets measured at fair value through surplus or deficit would include a debit to _________38Investing activities involvewhich of the following? a) borrowing and repaying of debt. b) sale of inventory. c) receipt of interest. d) investments in assets other than current assets.
- PFRS 9, Financial Instruments deals with the measurement and classification of which of the following items? * Impairment of assets Hedge accounting Financial assets Financial liabilities18. Which one of the following category Cash in hand belong to? a. Non-current asset b. Fictitious asset c. Intangible asset d. Current asset17.These are conditions required by IFRS 9 for notes and accounts receivable to be measured at amortized cost.I. The financial asset is held within the enterprise's business model whose objective is for trading purposes.II. The financial asset is held within the enterprise's business model whose objective is to hold assets in order to collect contractual cash flows.III. The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest. a. I and II only b. II and III only c. I and III only d. I, II and III
- 16 - Which of the following is the account where the increases are recorded to the receivable side and the decreases to the debit side?A) Asset AccountsB) Passive AccountsC) Accounts ReceivableD) Expense AccountsE) Passive regulating accounts46) Accounts receivable is ______________ of an organization. a. Current assets b. Current liabilities c. Non-current assets d. Non-current liabilities212. Subject : - Accounting I understand everything except what category Gain on Debt Extinguishment should be under on the income statements?
- 68. Which of the following is reported as other comprehensive income in accordance with PAS 1, Presentation of Financial Statement? Group of answer choices sale of inventory at more than cost changes in revaluation surplus impairment loss of depreciable asset loss on sale of machinery14 - What are the accounts in which capital and debts are monitored and which pay the remainder?A) Cost calculations B) Expense AccountsC) Passive accounts D) Active accounts E) Balance accountsQ7) Which of the following formula does NOT reflect the firm’s liquidity? Group of answer choices a) (Current Assets – Inventory) / (Current Liabilities) b) (Total Liabilities) / (Total Assets) c) (Current Assets) / (Current Liabilities) d) (Current Assets) / (Total Liabilities)
