Can an asset that is not realisable within 12 months ever be classified as a current asset?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
One of the criteria for classifying an asset as current under IAS 1 is that it is expected to ...View the full answer
Answered By
Karthika T J
i am an engineering graduate in electronics and communication. after my graduation i worked as a web developer.i used php, javascript,html ,css and mvc like codeigniter in web development.now i am working as a online tutor .
0.00
0 Reviews
10+ Question Solved
Related Book For
Applying International Financial Reporting Standards
ISBN: 978-0730302124
3rd edition
Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise
Question Posted:
Students also viewed these Accounting questions
-
If an asset that is not fully depreciated is sold or disposed, but the fixed asset records are not adjusted, what effect will this have on the financial statements?
-
When estimating the value of an option on a traded stock, the expected return on the stock is irrelevantas proven in option pricing theory. For the valuation of an option on an asset that is not...
-
Multiple Choice Questions 1. All of the following types of real property are depreciable except: (a) Warehouses (b) Land (c) Office buildings (d) Test facilities 2. According to information on the...
-
Suppose that \(\mathrm{x}\) is a linked-list Node. What is the effect of the following code fragment? \(t\). next \(=x\). next; \(x \cdot\) next \(=t ;\)
-
During the fourth quarter of 2012, Spring, Inc., generated excess cash, which the company invested in trading securities as follows: Requirements 1. Open T-accounts for Cash (including its beginning...
-
Assume that two random variables (X, V) arc uniformly distributed on a circle with radius a. Then the joint probability density function is Find the expected value of X,fix- otherwise.
-
Otis Carpenter opened a medical practice in Alexandria, Virginia. Requirement 1. Record the preceding transactions in the journal of Otis Carpenter, M.D., RC. Include an explanation with each entry....
-
The Gamma Ray Company produces two products, the Gamma Blaster (GB) and the Gamma Disaster (GD). Each product is made from three components: A, B, and C. The Gamma Blaster is made from the following...
-
Three Bros Burger specializes in serving burgers with fresh and juicy beef patties. The restaurant buys premium ground beef from a local supplier at a price of $6.00 per pound. To live up to its...
-
An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a linear trend equation and the naive approach. The linear trend equation is Ft = 124 + 2 t, and...
-
Under what circumstances are assets and liabilities ordinarily classified broadly in order of liquidity rather than on a current/non-current classification?
-
Explain the difference between classification of expenses by nature and by function.
-
When is verification started and when does it end? At what levels of abstraction are V&V performed?
-
In mid-2015, Modi announced several policy changes that were designed to open Indias economy even further to foreign investment. One change grants foreign single-brand retailers a three year grace...
-
Describe the various forms of economic integration in Europe. What is Brexit, and what are the implications for Great Britains relationship with Europe.
-
Compare the way a multinational firm organizes the marketing research effort with the way a global or transnational firm approaches the organizing issue.
-
Identify the main preferential trade agreements in the Asia-Pacific region.
-
Explain how the self-reference criterion can affect decision making at global companies, and provide a step by- step example of a company adapting to conditions in a global market.
-
Dusky Designs makes and sells custom jewellery and accessories to retail stores throughout Canada. On April 6, 2024, Dusky entered into a contract with Taras Boutique to supply 50 custom bracelets at...
-
Explain how the graph of each function can be obtained from the graph of y = 1/x or y = 1/x 2 . Then graph f and give the (a) Domain (b) Range. Determine the largest open intervals of the domain over...
-
The balance sheet of Rackett & Ball plc., a U.K.-based sporting goods manufacturer, is presented here. Figures are stated in millions of pounds (m). During the year, the producers price index...
-
Ninsuvaan Corporation, a U.S. subsidiary in Bangkok, Thailand, begins and ends its calendar year with an inventory balance of BHT500 million. The dollar/baht exchange rate on January 1 was $0.02 =...
-
Doosan Enterprises, a U.S. subsidiary domiciled in South Korea, accounts for its inventories on a FIFO basis. The company translates its inventories to dollars at the current rate. Year-end...
-
Wal-Mart's frustrations in India Seven years ago Wal-Mart set out to be India's top retailer by 2015. The business plan was called Project Jai Ho, a Hindi phrase meaning "let there be victory". But...
-
a) identify potential mitigating strategies the organization could employ to reduce the impact of their highest ranked social risks. (2 marks) Risk The effect on the community and environment due to...
-
What is a good guideline for the amount of information to include in a message?
Study smarter with the SolutionInn App