Knowledge Checks: Multiple Choice Questions and Solutions FINANCIAL REPORTING Version 15b KNOWLEDGE CHECKS: MULTIPLE CHOICE QUESTIONS AND SOLUTIONS | i Contents Questions 1 Module 1 Question 1.1 Question 1.2 Question 1.3 Question 1.4 Question 1.5 Question 1.6 Question 1.7 Question 1.8 Question 1.9 Question 1.10 Question 1.11 Question 1.12 Question 1.13 Question 1.14 Question 1.15 Question 1.16 Question 1.17 Module 2 Question 2.1 Question 2.2 Question 2
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The company has been able to stay ahead of the competition by innovating and providing the best solution to Canadians at home, in the workplace, and on the move. For them to continue to strive, they need accurate financial reporting and up-to-date accounting policies in today’s competitive environment. Introduction The telecom industry can be visualized as the largest operational network in the world. A global network that binds us all together; allowing us to connect with eachother regardless
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arising on the acquisition of High, ie using the fair value of the NCI. Solution 1 The proportionate goodwill arising is calculated by matching the consideration that the parent has given, with the interest that the parent acquires in the net assets of the subsidiary, to give the goodwill of the subsidiary that is attributable to the parent. Parent’s cost of investment at the fair value of consideration given $500 Less the parent’s share of the fair value of the net assets of the subsidiary acquired
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and a separate unit of accounting. As mentioned in the case, each Power Starterpack prepaid phone service plan includes an activation card and an airtime voucher. As addressed in the ASC 605-25-25-5, in an arrangement with multiple deliverables, the delivered item or items shall be considered a separate unit of accounting if both of the following criteria are met: a. The delivered item or items have value to the customer on a standalone basis. The item or items have value on a standalone basis if
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good sign for future prospects of the organization. Fixed assets mainly comprising of property, plant and equipment have been valued at fair market prices to show a true and fair view. There has been increase in fixed assets showing signs of good infrastructure building. Intangible assets had been subjected to impairment losses and gains as per applicable accounting standards. The company contributed $27.8 million of returns to the government in the current year, where dividend payouts of 2010-11 of
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intangibles are systemically amortized throughout the useful life of the intangible asset using either units of activity method or straight-line method. The amortization amount equals the different between the intangible asset cost and the asset residual value. The owner of the intangible asset, in this case, either credits the appropriate intangible asset account or the appropriate accumulated amortization account. ← On the other hand, indefinite-life intangibles are not amortized because there is
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To download more slides, ebook, solutions and test bank, visit http://downloadslide.blogspot.com Chapter 1 Test Bank BUSINESS COMBINATIONS Multiple Choice Questions LO1 1. Which of the following is a reason why a company would expand through a combination, rather than by building new facilities? a. A combination might provide cost advantages. b. A combination might provide fewer operating delays. c. A combination might provide easier access to intangible assets. d. All of the above are possible
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CHAPTER 20 Accounting for Pensions and Postretirement Benefits ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Questions Brief Exercises Exercises 16 Problems Concepts for Analysis 1, 2, 3, 4, 5, 7 1, 2, 7, 8, 9 1, 2, 3, 4, 5, 6, 9 4, 5 Basic definitions and 1, 2, 3, 4, 5, concepts related to pension 6, 7, 8, 9, 13, plans. 14, 24 Worksheet preparation. Income statement recognition, computation of pension expense. Balance sheet recognition, computation of pension expense. Minimum liability
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Company No. 364372 H SYF RESOURCES BERHAD (Incorporated in Malaysia) REPORT AND FINANCIAL STATEMENTS 31 JULY 2014 INDEX ****** Page No. DIRECTORS’ REPORT 1-6 STATEMENT BY DIRECTORS 7 STATUTORY DECLARATION 8 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS 9 - 11 STATEMENTS OF FINANCIAL POSITION 12 - 13 STATEMENTS OF COMPREHENSIVE INCOME 14 - 15 STATEMENTS OF CHANGES IN EQUITY 16 - 19 STATEMENTS OF CASH FLOWS 20 - 22 NOTES TO THE FINANCIAL
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015 financial report for the Half-Year Ended 31 December 2014 page contents Directors’ Report Auditor’s Independence Declaration Independent Auditor’s Review Report Directors’ Declaration Condensed Consolidated Statement of Profit and Loss Condensed Consolidated Statement of Comprehensive Income Condensed Consolidated Statement of Financial Position Condensed Consolidated Statement of Changes in Equity Condensed Consolidated Statement of Cash Flows Notes to the Condensed
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