Which of the following items is required to be disclosed by geographic area?a. Total assets.b. Revenues from external customers.c. Profit or loss.d. Capital expenditures.

Q: which of the anwsers are operating activities, financing activities, and investing activites for the…

A: In the cash flow statement there are main three segment are there.  The details are given below…

Q: Why is it necessary to make a distinction between Capital and Revenue Receipts and Capital and…

A: Capital receipts: These receipts are income that is earned from the investment and financing…

Q: Under IFRS regarding Financial Assets, which of the following is true?

A: a) If we hold debt until it matures and only to get cash flow from it, we can measure the debt at…

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: Considering whether to use historical cost or fair value relates to which of the following…

A: The procedures applied and principles followed by the company to prepare its financial statements…

Q: What is financial assets designated at FVOCI? Why does an entity used it? How?

A: Here discuss about the details of financial assets which was segregated fair value through other…

Q: What do you mean by Assets, Liabilities, Capital, Revenues and Expenses?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Requirements: Comprehensive income and financial position.

A: Financial statements are those statements and reports which are prepared at the end of accounting…

Q: Define the concept of Financial Assets

A: Definition:- Generally Financial assets are not in physical nature assets. Which are liquid assets…

Q: Explain the other statements that the financial statement is comprised of.

A: Financial statements are the reports that are prepared at the end of the period. These are prepared…

Q: Which of the following is ascertained from the income and expenses of an entity?   A financial…

A: Income means revenue earned from the sale of goods and services in the business. Expenses means…

Q: Which of the following is not an element of the financial statements? Multiple Choice Net income…

A: Solution:- Introduction:- The following items is not a element in financial statements as follows…

Q: When are financial statements considered authorized for issue?

A: The monetary record date is the urgent date at which the monetary situation of a substance is…

Q: hat amount of total assets will be reported?

A: Step 1 Total assets to be reporting in consolidated financial statements is holding‘s assets+…

Q: What method of determining operating income is required under GAAP for financial statement…

A: There are two basic types of accounting methods to determine the operating profit of a company which…

Q: financial assertion

A: Financial assertions are statements made by management in an an assertive way regarding the items in…

Q: On which financial statement do revenues appear?

A: Revenues and expenses are the accounts which are required to compute the Net income earned or net…

Q: 4. An entity presents an analysis of expenses using a classification based on: a. The nature of…

A: Solution 4: As per IAS 1, "An entity presents an analysis of expenses using a classification based…

Q: Explain why comparative information is required to be  provided in the financial statements

A: Financial statements are the statements which helps stakeholders like, investors, employee,…

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: Distinguish between the accounting for capital expenditures and revenue expenditures.

A: Fixed Assets: It refers to the long-term assets having a useful life of more than a year which is,…

Q: Which of the following is the major independent variable in constructing pro forma income statements…

A: Proforma income statements is a projected statements which says about budgeted income and expenses…

Q: When an organization considers its work-in-process, how should it be classified on a balance sheet?…

A: Work in process is a part of the inventory component of balance sheets, Inventory is categorized…

Q: Indicate where each of the following items is reported on financial statements. Choose from the…

A: Financial statement:   Financial statements are condensed summary of transactions communicated in…

Q: Indicate where each of the following items is reported on financial statements. Choose from the…

A: Financial statement:   Financial statements are condensed summary of transactions communicated in…

Q: a) Distinguish between financial assets and real assets for each of the following characteristics.…

A: Differences between financial assets and real assets on the basis of certain characteristics are…

Q: Which concept is applied to net income and other comprehensive income? A. Borrowed Capital B.…

A:

Q: How should an asset be recognized in the financial statement? How should asset be measured?

A: The balance sheet shows the resources controlled by the entity from past events from which economic…

Q: Identify the correct components of the income statement.A. revenues, losses, expenses, and gainsB.…

A: The income statement seems to be a statement that displays the net profit of the company as well as…

Q: Briefly explain the relationship between assets, liabilities, and revenue.

A: Assets is the tangible or Intangible factor in the business, which can be valued in terms of money…

Q: • What Are the Basic Financial Statements? • What are the Key Revenues and Expenses? • How are the…

A: As per our protocol we provide solution to the one question only but as you have asked multiple…

Q: Define and explain the relationship between Assets, Liabilities, Equity, Revenues and Expens

A: Corporation - An organization that has been registered as a corporation under a corporation act has…

Q: hich one of the following is ascertained from the income and expenses of an entity A. Financial…

A: The revenues and expenses for the company are included in the income statement of the company.

Q: Examined and describe the communication aspect of accounting in relation to assets valuation and…

A: Accounting Principles: Accounting principles are the principles and rules that organizations should…

Q: Explained and described the measurement aspects of accounting in relations to assets valuation and…

A: measurement is generally related to the valuation and recording and also the process of collecting…

Q: Revenues, gains, and investments by owners are allincreases in net assets. What are the distinctions…

A: All revenues, gains, and investments by owners increases the net assets of the business.

Q: Describe presentation and disclosure regarding revenue.

A: The core principle of IFRS 15 is that revenue is recognised when the goods or services are…

Q: Financial reporting purposes, long-lived, revenue-producing assets typically are classified in two…

A: Long lived assets:   Long lived assets are assets that can be held for a longer period of time and…

Q: Which of the following items must be disclosed in interim reports?a. Total assets.b. Total…

A: Interim Reports: It is the reporting of the financial results of any period that is shorter than a…

Q: Recognition is the process of: A. Capturing, for inclusion in the statement of financial position…

A: Balance Sheet and Income statement are two important financial statements of business. Balance sheet…

Q: What are comparative financial statements? What issue is introduced when entities present…

A: Comparative financial statement= This is the complete set of financial statements that the business…

Q: Which of the following is ascertained from the income and expenses of an entity? O A. financial…

A: Income statement means where all expenses and income are shown . Balance sheet means where all…

Q: Under AASB101 Presentation of Financial Statements, which of the following items, if it exists, must…

A: Solution: Revenue, Share of profit of associates and cost of sales are temporary accounts that are…