ZK
Zachary Kosloske
Answers (6)
ZK
Answered
In QBO,in the Dashboard select Reports then the All Reports tab has a variety of different selections.What selection allows a user to view the financial statements?
A) Accountant Reports
B) Review Sales
C) Manage Accounts Receivable and Manage Accounts Payable
D) Business Overview
A) Accountant Reports
B) Review Sales
C) Manage Accounts Receivable and Manage Accounts Payable
D) Business Overview
On May 02, 2024
D
ZK
Answered
A jointly controlled entity can be:
A) a company.
B) a partnership.
C) a trust.
D) all of the above.
A) a company.
B) a partnership.
C) a trust.
D) all of the above.
On May 02, 2024
D
ZK
Answered
The classification of an item as a cash equivalent means that changes in the balance:
A) will be disclosed in the statement of cash flows.
B) will not be disclosed in the statement of cash flows.
C) may be disclosed at discretion of the entity.
D) none of the above.
A) will be disclosed in the statement of cash flows.
B) will not be disclosed in the statement of cash flows.
C) may be disclosed at discretion of the entity.
D) none of the above.
On May 02, 2024
B
ZK
Answered
Cash flow from operating activities is the default classification in a statement of cash flows.
On May 02, 2024
True
ZK
Answered
Discuss the different identification and disclosure requirements for goodwill purchased as part of an investment in a subsidiary and an associate.
On May 02, 2024
Identification and disclosure of goodwill in an investment in a subsidiary and an associate:
- Goodwill on acquisition of a subsidiary is separately recognised in the consolidated financial statements and tested annually for impairment.
- An investment in an associate can also include purchased goodwill; however,this goodwill is not separately identified or disclosed in the investor's financial statements or tested for impairment separately from the investment asset.
- The reason for the different treatment of goodwill of an associate is because the acquisition cost of the investment is not required to be apportioned over all the assets acquired (i.e.,it is a 'one-line' consolidation procedure and goodwill is not required to be separately identified).
- Goodwill on acquisition of a subsidiary is separately recognised in the consolidated financial statements and tested annually for impairment.
- An investment in an associate can also include purchased goodwill; however,this goodwill is not separately identified or disclosed in the investor's financial statements or tested for impairment separately from the investment asset.
- The reason for the different treatment of goodwill of an associate is because the acquisition cost of the investment is not required to be apportioned over all the assets acquired (i.e.,it is a 'one-line' consolidation procedure and goodwill is not required to be separately identified).
ZK
Answered
The number of seats available in an arena is fixed at 20,000. The equilibrium price for a ticket to a basketball game at the arena is $75. The equilibrium price for a ticket to the circus at the arena is $25. Which of the following is true?
A) Basketball games must be more expensive to produce than a circus performance.
B) The demand for each basketball game must be more than the demand for each circus performance.
C) The supply of circus performances must be less elastic than the supply of basketball games.
D) The demand for each circus performance must be greater than the demand for each basketball game.
A) Basketball games must be more expensive to produce than a circus performance.
B) The demand for each basketball game must be more than the demand for each circus performance.
C) The supply of circus performances must be less elastic than the supply of basketball games.
D) The demand for each circus performance must be greater than the demand for each basketball game.
On Apr 29, 2024
B