1. Accounting topics where present value-based accounting measurements are relevant
include all of the following except:
B. long-term assets.
C. environmental liabilities.
D. shareholders' equity.
Present value-based measurements apply to all o
Quizzes on E-Learning- Chapter 13
Collier borrowed $175,000 on October 1 and is required to pay $180,000 on
March 1. What amount is the note payable recorded at on October 1 and how
much interest is recognized from October 1 to Decemb
1. Both Treasury Shares and Share Premium-Treasury Shares reduce total shareholders'
Shareholders' equity is reduced by Treasury Shares but increased by Share PremiumTreasury Shares.
2. Treasury stock is classified on the statemen
Financial Accounting 2
E-learning Quiz Chapter 15
Under the cost method, when ordinary treasury shares are sold for more than
cost, the excess is credited to:
a. Gain on Sale of Treasury Shares.
b. Share Premium Ordinary Shares.
c. Share Premi
1. According to IFRS, revenue includes both revenues which arise in the normal course of
operations and gains which may or may arise in the normal course of operations
According to IFRS, revenue includes both revenues which arise in the n
Quizzes on E-Learning- chapter
Under the installment-sales method, gross profit is recognized in the periods
that cash is received, rather than in the period of sale.
Each time cash is received, the
1. Revenue from permitting others to use company assets is recognized:
A. after costs are recovered.
B. at the point the assets are delivered.
C. as time passes or as the assets are used.
D. as cash is collected.
Revenue from permitting others to use comp
1. Leases are valued using present value-based measurements.
Certain long-term leases are capitalized using present value measurements.
2. Compound interest is computed on the principal only.
Compound interest is computed