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iple Choice

Difficulty: $1$ Easy

Learning Objective: $05-03$ Describe the IFRS that deal with disclosure and presentation standards and discuss their various requirements.

$0\mathrm{.}20$ points

ter Company sells accounts recelvable of $$10,000$ to Eck Bank for $$9,000$ in cash. The sale does not qualify for derecognition of a financial asset. As a anometer's balance sheet will be different in which of the following ways?

$$1,000$ more in assets than under derecognition.

$59,000$ more in assets than under derecognition.

$9,000$ more in liabilities than under derecognition.

$10,000$ less in equity than under derecognition.

$10,00$

aces

Choice

Difficulty: $2$ Medium

Learning Objective: $05-02$ Explain and analyze the effect of major differences between IFRS and U$.$S$.$ GAAP related to the financial reporting of current liabilities, provisions, employee benefits, sharebased payment, income taxes, revenue, financial instruments, and leases.

points

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$\frac{8}{9}$

Lanometer Company sells accounts recelvable of $$10,000$ to Eck Bank for $$9,000$ in cash. The sale does not qualify for derecognition of a financial asset. As a sult, Manometer's balance sheet will be different in which of the following ways?

$$1,000$ more in assets than under derecognition.

$$9,000$ more in assets than under derecognition.

$$9,000$ more in liabilities than under derecognition.

$$10,000$ tess in equity than under derecognition.