Solution-Which is not requisite of reliability of financial

Which is not requisite of reliability of financial statement

Assignment Help Accounting Basics

Reference no: EM132765888

Problem 1: When a held to maturity investment is transferred to available for sale, the unrealized gain or loss on the date of transfer shall be reported as

a) Component of profit or loss
b) Component of other comprehensive income
c) An adjustment of retained earnings
d) Component of other comprehensive income and amortized over the remaining life of the debt investment

Problem 2: Which is not a requisite of "reliability" of financial statements?

a) The statements are organized in accordance with GAAP
b) The statements are examined by independent auditors who creates adequate statements
c) An effective system of internal control is maintained
d) Income tax returns are properly filed

Reference no: EM132765888

Questions Cloud

Which should be classified as financial instruments : Which should be classified as financial instruments? Which of the following accounting concepts best justifies the use of accruals and deferrals?

Examine opinions from adults on legalising marijuana : Justify and interpret statistical/analytical scenarios that best fit business solution - Apply statistical knowledge to summarize data graphically

Which biological assets should be measured using : the company debits miscellaneous expense. This scenario is most closely associated with which of the following concepts or principles?

Explain controls that can be adopted to counter impacts : Financial systems are the hub of any establishment, and with the pandemic crisis still ongoing, most companies are facing multiple likelihood of threats.

Which is not requisite of reliability of financial statement : When a held to maturity investment is transferred to available for sale, the unrealized gain or loss on the date of transfer shall be reported as?

Which should not be considered a financial asset : Which should not be considered a financial asset? A contract that may or will be settled in the entity's own instrument and is not classified as an equity

Compute how much should be recorded as building : DEF Company bought a piece of land and building for P15,000,000. On the acquisition date, the land has a fair value of P6,000,000 and the office building.

Review the Direct Care Project : Topic - Substance Use - Review the Direct Care Project Overview above. Select topic (Air Quality OR Substance Use) from the table

Six essential steps in the decision-making process : Provide an example of 2 steps that are strengths for you (Establishing a positive decision-making environment, Deciding) and 2 steps that are developmental

User Account

All Pages

Which is not requisite of reliability of financial statement

Reference no: EM132765888

Reference no: EM132765888

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT