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Problem 1: This refers to valid and legal obligations of NGAs/OUs, for which, goods/services/projects have been delivered/rendered/completed and accepted, regardless of the year when these obligations were incurred.
a. Obligations
b. Liability
c. Not Yet Due and Demandable
d. Accounts Payable
Problem 2: The notes to the financial statements is least likely to be expected to show which of the following information?
a. General information on the reporting entity.
b. Current and noncurrent distinctions of assets and liabilities.
c. Statement of compliance with the PPSAS and basis of preparation of financial statements.
d. Summary of significant accounting policies.
Problem 3: The 8-digit Revised Chart of Accounts (RCA) Code for revenues starts with number
a. 2
b. None of these
c. 5
d. 1
(a) Identify the strengths and weaknesses of using a historical cost system of measurement for assets and liabilities. (b) Explain why a current value measurement system is more appropriate for financial instruments than a historical cost system. (c)..
BLB00034 Accounting Theory and Practice - Demonstrate the impact on the financial statements and the implication for different users of accounts of alternative ways of treating controversial accounting items and critically evaluate the usefulness ..
The coupon interest rate is 7.5%. The bonds have a yield to maturity of 6%. What is the current market price of these bonds
Calculate the Net Present Value of the investment assuming the company has a required rate of return of 14 percent
Transaction data: Jonathan Swiss owns the Sports Watch Repairs Store. He provides the transactions relating to the month of January this year.
1. On January 1 of the current year, Scott borrows $80,000, pledging the assets of his business as collateral. He immediately deposits the money in an interest-bearing checking account.
Jocelyn, a single taxpayer, had $742000 of taxable income in 2010. All the income is ordinary. What is her tax liability for the year
Question - Iba Industries is a division of a major corporation. The following data are for the latest year of operations: What is the division residual income
a companys product sells at 12 per unit and has a 5 per unitvariable cost. the companys total fixed costs are 98000.the
Wendy is an accountant for a local service company. Without prior authorization or knowledge by anyone else. What controls should have been in place and therefore might have prevented this fraudulent activity from occurring?
Find What the effect of a stock dividend is to? decrease total assets and stockholders' equity./ change the composition of stockholders' equity
on november 1 bobs skateboards signed a 12000 90-day 5 note payable to cover a past due account payable. required a.
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