Which note shall be discounted to get initial measurement

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Problem 1: Which of the following note shall be discounted to get the initial measurement?

A. Interest bearing note due in 3 years

B. Note due in 12 months

C. Non-interest bearing note due in 3 years

D. Note due in 6 months

Problem 2: Which is true concerning the presentation of receivables in the statement of financial position?

A. Non-trade receivable is presented as a non-current asset

B. Only trade accounts receivable and trade notes receivable shall be presented as "Trade and Other Receivable"

C. Trade and Non-trade Receivables are shown separately in line with materiality and aggregation principle

D. Trade and Non-Trade Receivables which are currently collectible shall be presented as one line item called "Trade and Other Trade receivables"

Reference no: EM132828199

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