Reference no: EM132824720

Problem 1: The noncurrent asset held for sale shall be presented as

a. included in the line item of property plant and equipment

b. long term investments

c. noncurrent asset in the statement of comprehensive income

d. current asset in the balance sheet

Problem 2: Which of the following is the usual classification of cash flow advances and loans made by banks

a. financing activity since it warrants our recognition of liability in the financial statement of the bank client

b. investing activities since banks are disbursing money for customers and they expect a return

c. financing activities since bank clients treat such cash as a financing need

d. operating activities since granting cash advances and loans are part of banks operations