Trending Financial Systems Discussions

What is the basic principle for measuring inventories in line with IAS 2?‎

1. Inventories shall be measured at the lower of fair value and value in use. 2. Inventories shall be measured at the lower of fair value and net realizable value. ‎ ... See More

Answers:

29

Followers:

31

Views:

677

Vote Count:

8

You pay a dividend, what happens on the cash flow statement and in which section?‎

  1. Cash increases - Investing section   2. Cash increases - Operating section   3. Cash decreases - Financing section   4. Cash increases - Financing section‎ ... See More

Answers:

16

Followers:

22

Views:

326

Vote Count:

6

The sale for $2,000 of equipment that cost $8,000 and has accumulated depreciation of $6,700 would result in a?‎

a. gain of $2,000. b. gain of $700. c. loss of $700. d. loss of $1,300.‎

Answers:

23

Followers:

28

Views:

971

Vote Count:

5

A company is being sued for $100,000. What would be recorded on the balance sheet?‎

    a. Nothing   b. $100,000 Set-aside Cash   c. $100,000 Liability   d. $100,000 Contingent Liability‎

Answers:

9

Followers:

13

Views:

1077

Vote Count:

5

Working capital is a measure of:‎

a.consistency. b.liquidity. c.profitability. d.solvency. e.none of the options listed‎

Answers:

12

Followers:

12

Views:

992

Vote Count:

5

If beginning capital was $25,000, ending capital is $37,000, and owner's withdrawals were $23,000, the amount of net income / loss for the period was?‎

a.net loss of $35,000 b.net income of $35,000 c.net income of $14,000 d.net loss of $14,000‎

Answers:

10

Followers:

15

Views:

12199

Vote Count:

5

What does IAS Twelve deal with? ‎

1. inventories   2. Taxes   3. construction contracts   4. revenue    ‎

Answers:

10

Followers:

12

Views:

252

Vote Count:

3

What kind of feasibility measures cost-effectiveness of a project or solution?‎

1. Schedule feasibility   2. Operational feasibility   3. Economic feasibility   4. Strategic feasibility   5. None of the above ‎

Answers:

3

Followers:

4

Views:

516

Vote Count:

3

During the year a business recorded $100,000 in revenues, $55,000 in expenses, and dividends of $10,000. What would be the net income?‎

a. $35,000 b. $45,000 c. $20,000 d. $90,000  ‎

Answers:

23

Followers:

29

Views:

369

Vote Count:

4

An increase in provision for bad debt will ?‎

A)  Decrease net income B)  Decrease liabilities C)  Increase net incomeD)  Increase liabilities‎

Answers:

15

Followers:

22

Views:

2306

Vote Count:

4