Test bank for Intermediate accounting volume 2 8th edition by Thomas H. Beechy and Conrod All Chapters 1-22 Covered

Test bank
Intermediate accounting volume 2
8th edition by Thomas H. Beechy and Conrod
All Chapters 1-22 Covered

,TABLE OF CONTENT
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Chapterc12:cFinancialcLiabilitiescandcProvisions

Chapterc13:cFinancialcInstruments:cLong-TermcDebt


Chapterc14:cShareholders'cEquity


Chapterc15:cFinancialcInstruments:cComplexcDebtcandcEquity


Chapterc16:cCorporatecIncomecTax

Chapterc17:cTaxcLosses


Chapterc18:cLeases


Chapterc19:cPost-EmploymentcBenefits


Chapterc20:cEarningscpercShare


Chapterc21:cAccountingcChanges

Chapterc22:cFinancialcStatementcAnalysis

,Intermediate Accounting Volume 2 8E Thomas H. Beechy, Joan E. Conrod, Eli
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zabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-
c c c c c c



Lee Sevel Chapter 12-22
c c cAnswers are at the End of Each Chapter
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Chapter 12 c


Student name:
c


1) Conceptually,cliabilitiescconstitutecacpresentcobligationcascacresultcofcacpastceventcandcentailca
ncexpectedcfuturecsacrificecofcassetscorcservices.
⊚c true
⊚c false



2) UndercASPE,conlyclegalcobligationscarecrecognized.
⊚c true
⊚c false



3) Acreasonablecexpectationconcthecpartcofcaccompany'scstakeholderscarisingcfromcaccompany'
scpastcpracticescorcbehaviourcmaycconstitutecacconstructivecobligationcinccertaincinstances.
⊚c true
⊚c false



4) Accontingencycmaycbecomecacprovisioncifctheclikelihoodcofctheccontingentceventcgreatlyci
ncreases.
⊚c true
⊚c false



5) UndercIFRS,cmostcfinancialcliabilitiescarecvaluedcatcfaircvalue.
⊚c true
⊚c false

, 6) Ancimprovementctocaccompany'sccreditcratingcundercIFRScwillcleadctocacreductioncincthecc
arryingcamountcofcanycfinancialcliabilitiescandcacgaincbeingcreportedcincOCI.
⊚c true
⊚c false



7) Loancguaranteescareconlycrecordedcifctheycareclikelyctocbecpaid.
⊚c true
⊚c false



8) Accruedcliabilitiescmadecduectocroutinecoperatingcexpensescarecnotcnormallycdiscounted.
⊚c true
⊚c false



9) Forcacsmallcpopulation,cthecbestcestimatecforcthecamountcofcacprovisioncthatcmustcb
ecrecognizedciscthecexpectedcvaluecofcthecpossiblecoutcomes.
⊚c true
⊚c false



10) UndercIFRS,cprovisionscarecalwayscrecordedcatctheircexpectedcvalue.
⊚c true
⊚c false



11) Forcaclargecpopulation,cthecbestcestimatecforcthecamountcofcacprovisioncthatcmustcbecreco
gnizedciscthecmostclikelycoutcomecwithcrespectctocthecexpectedcvaluecandccumulativecpro
babilities.
⊚c true
⊚c false



12) UndercASPE,ccontingentcliabilitiescwhichcarecmoreclikelycthancnot,carecaccruedcatctheclowestc
endcofcthecrange.
⊚c true
⊚c false