Homework Answers
Q-4 True
EXPLANATION: AASB 3 defines in business combination as a transaction or event in which an acquirer obtains control of one or more businesses.
Q-5 Intangible
EXPLANATION: Computer software is classified as an intangible assets because of its non-physical nature.
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QUESTION 4 AASB 3 defines a business combination as 'a transaction or other event in which...
Under AASB 3, a business combination is: A) Bringing together of separate entities or businesses into...
Under AASB 3, a business combination is: A) Bringing together of separate entities or businesses into one reporting entity B) The formation of an entity that consists of a number of separate entities that together forms a combined entity known as a ‘Group’ C) Where one entity (the acquirer) obtains control of one or more other businesses (the acquiree) D) All the above
QUESTION 1 AASB are initials that stand for: Australian Accounting Standards Board O Auditing & Assurance...
QUESTION 1 AASB are initials that stand for: Australian Accounting Standards Board O Auditing & Assurance Standards Board O Australian Accounting Standards Bureau O Accounting & Auditing Supervision Board QUESTION 2 AASB 1053 introduced a _-tier reporting system for entities producing general purpose financial statements. O three one two four QUESTION 7 Which of the following statements is correct with respect to research and development expenditures in accordance with AASB 138? O Activities aimed at obtaining knowledge that are likely...
When considering an acquisition, which of the following is NOT a method by which one company...
When considering an acquisition, which of the following is NOT a method by which one company may gain control of another company? Purchase of the majority of outstanding voting stock of the acquired company. Purchase of all the outstanding voting stock of the acquired company. Purchase of all assets and liabilities of another company. Purchase of 25% of outstanding voting stock of the acquired company. The GAAP defines the accounting concept of a business combination as a transaction or other...
QUESTION 3 A statutory merger is a business combination in which both companies continue to exist....
QUESTION 3 A statutory merger is a business combination in which both companies continue to exist. O True. O False
QUESTIONS is the application of research findings or other knowledge to a plan or design for...
QUESTIONS is the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems or services prior to the commencement of commercial production or use. O investigation O development O production O planning QUESTION 10 O'Briens Construction Ltd exchanged equipment that had a book value of $40 000 for a truck that had a book value in the other entity's books) of $38 000. The fair...
QUESTION 4 The recognition of a revenue would most likely be accompanied by which of the...
QUESTION 4 The recognition of a revenue would most likely be accompanied by which of the following? A. a decrease in assets B. an increase in assets C. the contribution of capital by an owner D. an increase in liabilities E. none of the other answers provided are correct 1 points QUESTION 5 A gain on the disposal of a fixed asset will increase the following on the company’s income statement A. COGS B. Non-operating Income (Loss) C. Net...
QUESTION 1 Which of the following best describes the "economic" definition of operations? The purpose of...
QUESTION 1 Which of the following best describes the "economic" definition of operations? The purpose of operations is to make money The purpose of operations is to add value for customers The purpose of operations is to transform inputs into outputs that exceed the number of inputs The purpose of operations is to achieve and then extend the efficient frontier QUESTION 2 Which of the following terms best describes foreign direct investment? Direct investing in, controlling, and managing value added activities...
Question Completion Status: O False QUESTION 18 Which of the following changes will decrease the value...
Question Completion Status: O False QUESTION 18 Which of the following changes will decrease the value of common stock, other things being held constant? The required return decreases. In general, investors become more risk averse. The dividend growth rate increases. None of the above. QUESTION 19 Taman Inn unnid en dividend in its namman Annhaldam Vam lan tanumhana tha Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ansi Question Completion...
Question: Question 183 Processing auditor test data using the client's software application _______. -will allow the...
Question: Question 183 Processing auditor test data using the client's software application _______. -will allow the auditor to verify manual controls within the software application are functioning as designed -may corrupt the client's system, and should not be attempted -will allow the auditor to verify that the software application is functioning as designed -should be performed without the knowledge of the client's senior management Question 19 The tolerable deviation rate _______. -relates to how many immaterial misstatements the auditor finds...
D Question 3 1 pts Samsung Electronics has three business segments: consumer electronics (CE), information technology...
D Question 3 1 pts Samsung Electronics has three business segments: consumer electronics (CE), information technology and mobile communications (IM), and device solutions (DS). In 2015, the CE IM, and DS segments accounted for 25%, 48%, 27% of total revenues, respectively. Consumer electronics and mobile communications divisions share a number of intangible capabilities (e.g, know-how and expertise) in product design and development. It can be concluded that Samsung Electronics is pursuing ain) strategy. O dominant business O single business O...
QUESTION 1 AASB are initials that stand for: Australian Accounting Standards Board O Auditing & Assurance Standards Board O Australian Accounting Standards Bureau O Accounting & Auditing Supervision Board QUESTION 2 AASB 1053 introduced a _-tier reporting system for entities producing general purpose financial statements. O three one two four QUESTION 7 Which of the following statements is correct with respect to research and development expenditures in accordance with AASB 138? O Activities aimed at obtaining knowledge that are likely...
When considering an acquisition, which of the following is NOT a method by which one company may gain control of another company? Purchase of the majority of outstanding voting stock of the acquired company. Purchase of all the outstanding voting stock of the acquired company. Purchase of all assets and liabilities of another company. Purchase of 25% of outstanding voting stock of the acquired company. The GAAP defines the accounting concept of a business combination as a transaction or other...
QUESTION 3 A statutory merger is a business combination in which both companies continue to exist. O True. O False
QUESTIONS is the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems or services prior to the commencement of commercial production or use. O investigation O development O production O planning QUESTION 10 O'Briens Construction Ltd exchanged equipment that had a book value of $40 000 for a truck that had a book value in the other entity's books) of $38 000. The fair...
Question Completion Status: O False QUESTION 18 Which of the following changes will decrease the value of common stock, other things being held constant? The required return decreases. In general, investors become more risk averse. The dividend growth rate increases. None of the above. QUESTION 19 Taman Inn unnid en dividend in its namman Annhaldam Vam lan tanumhana tha Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Ansi Question Completion...
D Question 3 1 pts Samsung Electronics has three business segments: consumer electronics (CE), information technology and mobile communications (IM), and device solutions (DS). In 2015, the CE IM, and DS segments accounted for 25%, 48%, 27% of total revenues, respectively. Consumer electronics and mobile communications divisions share a number of intangible capabilities (e.g, know-how and expertise) in product design and development. It can be concluded that Samsung Electronics is pursuing ain) strategy. O dominant business O single business O...
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