The method of valuation under the US GAAP is 1. accounts receivable at net realizable value. 2. short-term marketable securities at fair value. 3. inventories at current cost if current cost is higher than historical cost. a. b. C. d. 1 and 2 2 and 3 1 and 3 1, 2, and 3
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- Typically, the estimated amount available for short-term payments in a statement of affairs (financial statement) a.Carrying amount b.Current fair value c.Zero d.Net realizable valueThe balance sheet account that is usually reported at its fair market value is: a. Short-term marketable securities b. Accounts receivable c. Current liabilities d. Inventory14) Which of the following is the least liquid current asset? A) Accruals B) Accounts receivable C) Marketable securities D) Inventory
- 1. Trade and other payables 2. total current liabilitiesCurrent LiabilitiesPROBLEM 1: TRUE OR FALSE4. Financial liabilities other than FVPL liabilities are initiallymeasured at fair value plus transaction costs.5. Amortized cost financial liabilities are subsequently measuredat the present value of the cash outflows from the instrument.6. Financial liabilities may be subsequently reclassified betweenthe amortized cost and fair value measurement categories.7. Trade payables and other liabilities that are part of an entity'sworking capital may be presented as current liabilities even ifthey are expected to be settled beyond one year.8. According to PAS 1, a currently maturing debt that the entity'smanagement intends to refinance is presented as noncurrent.9. According to PFRS 15, if an entity expects that a portion of giftcertificates sold will not be redeemed, the entity recognizes theexpected breakage amount as revenue in proportion to thepattern of rights exercised by customers.10. Unearned revenue is revenue that is earned but not yet…Which of the following items is remeasured using the current exchange rate under the temporal method? Choose the correct.a. Bonds payable.b. Dividends declared.c. Additional paid-in capital.d. Amortization of intangibles.
- Which of the following is not an alternative for a capital charge for Operational Risk as stated in Basel II? a. Advanced Measurement Approach (AMA) b. Asset-Liability Matching c. Basic Indicator (15% of annual gross income) d. Standardized (different percentage for each business line)Which of the following items is remeasured using the current exchange rate under the temporal method?a. Bonds payable.b. Dividends declared.c. Additional paid-in capital.d. Amortization of intangibles.zed 3. Which of the following reclassifications of financial assets is permitted under PFRS 9? a. Reclassification from FVPL designation to Amortized cost b. Reclassification from FVOCI (election) to FVPL C. Reclassification from held for trading equity securities to the if a ord, amortized cost d. Reclassification from amortized cost and to FVPL of
- Fair value is used to value which of the following balance sheet accounts? a. Prepaid expenses; patents; property, plant, and equipment b. Capital lease obligations, bonds payable c. Receivables net of allowance for doubtful accounts d. Debtsecurities available for sale, trading securitiesFor assets acquired on credit or by installment, the cost or fair value is equal to: A. cash purchase priceB. invoice priceC. installment priceD. list priceWhich of the application of of a. Presenting a the related s b. Deducting fe gains and pr c. Deducting u trading secu d. Deducting a account and