Investments in associates must be included in separate financial statements that a corporation prepares. A. At cost. B. Any of the choices. C. In accordance with PFRS 9. D. Using the equity method as described in PAS 28.
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- Which of the application of of a. Presenting a the related s b. Deducting fe gains and pr c. Deducting u trading secu d. Deducting a account andNowicuye Check u Which of the following describes the purpose of the statement of shareholders' equity? Multiple Choice Disclose investments by owners, distributions to owners, net income, and other comprehensive income Disclose the impact of investments by owners, distributions to owners, net income, and otherWhich of the following is not a category of financial assets under GAM? Group of answer choices A.Held to maturity investments B.Available for sale financial assets C.Financial asset at fair value through other comprehensive income D.Loans and receivable
- Identify transaction belonging to Investing Activities O a. Interest received O b. Marketable securities Oc. Purchase of investments by a finance company Od. Interest paidExplain how the investment account is affected byinvestee activities under the equity method.According to PAS 28, investments in associates are accounted for at fair value. using the equity method. using the asset method. at cost.
- Which one of the following item will be debited in profit and loss appropriation account? a. Interest on loan b. Interest on drawings c. Interest on deposits d. Bonus to partnersWhich of the following is the second option in measuring the equity instrument issued to extinguish a financial liability A.fair value of the equity instrument B.carrying amount of the equity instrument Cfair value of the financial liability D.carrying amount of the financial liabilityPlease show the different debits and credits to an investment account under the equity method of accounting.
- Investment in debt instruments classified as FA@FVTOCI recognizes which of the following in OCI? A. Interest calculated using the effective interest method. B. All of these. C. Changes in fair value D. Impairment gains and lossesWhich of the following are Assets, Liabilities, EquityAccounts PayableCommon StockBonds PayableFurniture and FixturesInventoryInterest PayableDividentsAdditional paid-in-capitalPatents and copyrightsShort-term investmentsUnrealized gains or losses on short-term investments are reported using: Question 10 options: a liability account an asset account an expense account a revenue account
