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- Ch19-1: Is leasing a zero sum game in the sense that any gain to the lessee is a cost to the lessor? If not, how might both parties gain from a lease transaction? In your answer, explain how lessee and the lessor analyze the situation, why they might use different inputs in their analysis, and how those inputs differences could affect the outcome3 The following statements are true about the fair value of property investment, except_______. Select one: a. the term arm's length transaction means that the transaction is one between parties that have a particular or special relationship that makes prices of transactions typical of market conditions b. the term knowledgeable means that both the willing buyer and the willing seller are reasonably informed about the nature and characteristics of the investment property c. a willing buyer is motivated, but not compelled, to buy d. a willing seller is neither an over-eager nor a forced seller, prepared to sell at any price, nor one prepared to hold out for a price not considered reasonable in current market conditionsQ21 Which of the following is NOT a step in impairment testing? Select one: a. Sell the asset after if the fair value is greater than the recoverable amount b. Calculate the asset’s carrying amount in the books of the entity c. Calculate the recoverable amount of the asset d. Assess whether there are circumstances that may indicate that the asset should be impaired.
- Determine if this shall result in recognition of liabilities 12. violation of the terms of a contract; it is more likely than not that there will be outflow of resources, amount of such outflow can be reasonably estimated a. yes b. noCh. 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 covenantChoose the correct. Which of the following must be provided to every potential buyer of a new security?a. A letter of comments.b. A deficiency letter.c. A prospectus.d. A Form S–16.
- 1.What does a bid bond guarantee? A contractor will sign the contract if his bid is selected A contractor will pay his subcontractors for work performed on the project A contractor has not colluded with other contractor in preparing his bid The general contractor will use the subcontractors listed in the bid A contractor has submitted a balanced bid 2.Which statement best describes the relationship between a contractor and a surety? A surety and a contractor have an adversarial relationship A contractor generally shops around and picks the surety will the lowest fee for a particular project It is in the surety’s best financial interest for a contractor to default on a project A contractor seeks the surety that will offer him the highest bonding limit It is in the surety’s best interest for a contractor it bonds to be successfulWhat is the meaning of the following:- IAS 40 paragraph 32A, An entity may: (a) choose either the fair value model or the cost model for all investment property backing liabilities that pay a return linked directly to the fair value of, or returns from, specified assets including that investment property; and (b) choose either the fair value model or the cost model for all other investment property, regardless of the choice made in (a).A presale agreement is said to be equivalent to a take-out commitment. What will the construction lender be concerned about if the developer plans to use such an agreement in lieu of a take-out?
- Which of the following must be provided to every potential buyer of a new security?a. A letter of comments.b. A deficiency letter.c. A prospectus.d. A Form S–16.1. In a sale and leaseback transaction, what is used by the buyer-lessor to depreciate the cost of the leased asset? A. Lease term B. Total Useful life C. Excess of useful life over the lease term D. Remaining useful life 2. Which of the following scenarios regarding a sale and leaseback transaction would result to a loss to the seller-lessee? A. Fair Value < Carrying Amount B. Sale Price < Fair Value C.Sale Price > Fair Value D.Fair Value > Carrying Amount 3. When does a buyer-lessor recognize a financial asset from a sale and leaseback transaction? A. Sale Price > Fair Value B. Fair Value < Carrying Amount C. Sale Price < Fair Value D. Fair Value > Carrying Amount33. Which of the following is not one of the lease classification tests? Purchase option Lease term Transfer of ownership Collectibility