Transactions associated with the financing process include all of the following except: Select one: Oa. Periodic repayments of debt. Ob. Issuance of equity securities.
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- in relation to receivables, an entity is required by PFRSs toa. All of theseb. disclose any receivables pledged as collateralc. classify receivables as current and non-current in the statement of financial positiond. disclose all significant concentration of credit risk arising from receivablesA typical provision is: a. bonds payable. b. cash. c. a warranty liability. d. accounts payable.Calculate: a. Average Receivable days/ Debtors collection periodb. Average Payable days/ Creditors collection period
- 20. Which of the following types of financial assets represents a creditor relationship with an entity? A. Stock B. Savings C. Fixed Deposits D. BondsThe following data were taken from the Statement of Affairs of Greenfield Corporation: What is the estimated amount holders of the accounts payable will receive upon?Presented below are the captions of Nikos SpA's statement of financial position. Indicate where each of the following items would be classified. Statement of Financial Position Accounts Statement of Financial Position Classification 1. Share capital-preference. 2. Goodwill. 3. Salaries and wages payable. 4. Accounts payable. 5. Buildings. 6. Trading securities. 7. Current portion of long-term debt. 8. Patents. 9. Allowance for doubtful accounts. 10. Accounts receivable. > > > > > > >
- (a)Explain, using practical example the effect of accruals figures on the preparation of a financial statement. (b)Suggest Four reasons why there might be difference between the balance on the receivable ledger control account and the total list of accounts receivable ledger balances. (c)Explain, using practical example how Capital expenditure should be capitalizedWhen a company borrows funds from creditors, it is considered a form of: Select one: A. equity financing. B. debt financing.Estimated liabilities are disclosed in financial statements by Note to the financial statements. An appropriation of retained earnings. Showing the amount among the liabilities but not extending to the liability total. Appropriately classifying them as regular liabilities in the statement of financial position.
- Insurance policies form the basis of an insurance company’s ________________. a. Financial securities b. Financial liabilities c. Financial assets d. Net policy reservesThe presentation of current and non-current liabilities in the statement of financial position (balance sheet): a. is shown only on GAAP financial statements. b. is shown on both a GAAP and an IFRS statement of financial position. c. is always shown with current liabilities reported first in an IFRS statement of financial position. d. includes contingent liabilities under IFRS.On which financial statement are current liabilities reported?