Pkg Acc Infor Systems MS VISIO CD
Pkg Acc Infor Systems MS VISIO CD
10th Edition
ISBN: 9781133935940
Author: Ulric J. Gelinas
Publisher: CENGAGE L
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Chapter 6, Problem 8RQ
Summary Introduction

To explain: The situation in which an entity has a minimum relationship with another entity.

Introduction:

Relational database:

It is a collection of multiple data sets constituted by rows, columns, and tables. It aids in developing a well-established relationship between different database tables. Information is shared between these tables for efficient use.

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In which of the following instances does Entity A have control over Entity B? A. Entity A and Entity B both have unilateral rights in directing the relevant activities of Entity B. Entity A’s rights are considered protective rights. B. Entity A’s right to direct Entity B’s relevant activities is exercisable only upon the occurrence of a contingency. C. Entity A has the right to direct the relevant activities of Entity B but only in accordance with the directives of Entity C. D. Entity A holds a 30-day forward contract to buy a majority of Entity B’s voting rights. The contract can be cancelled in a shareholders meeting. A Shareholders meeting will be held in 3 months’ time.
Under PFRS 15, in which of the following instances will the revenue from contracts with customers be recognized at a point in time instead of over time? Group of answer choices When the entity’s performance creates or enhances an asset that the customer controls as the asset is created. When the customer simultaneously receives and consumes all of the benefits provided by the entity as the entity performs. When the entity has transferred physical possession and legal title to the asset to the customer When the entity’s performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date.
In the <IR> Framework, it is possible that an entity may not disclose relevant information. Why?
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