Reference no: EM132727523

Questions - Identify the appropriate qualitative characteristics to describe the information below:

1. Purchase of equipment (small transaction) is charged directly at purchase.

2. Starbucks uses straight-line depreciation method since it was first operated.

3. Samsung publishes quarterly reports shortly after the end of the quarter.

4. PT ABC reports a positive trend in earnings for more than 3 years. This year, PT ABC reduce the reserves for bad debts to ensure a profit this year the positive. The impact resulting from the adjustment is material.

5. PT PP reports the classification of current and non-current in the statement of financial position.

6. General Electric reports revenue on the income statement when fulfilled performance obligation not upon receipt of cash.

7. Lippo Karawaci reports land on the statement of financial position with an amount of money paid at the time of purchase even though the estimated fair value is higher.

8. Garuda Indonesia reports information regarding legal issues in the above notes financial statements.

9. Shopee recognized depreciation expense for the machine during the 2 years in which the machine was help companies generate revenue.

10. Cargill seeks to determine the replacement cost of inventory. 3 appraisals concluded different numbers. President Cargill decided to report an average number for external reporting purposes.