FAR

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Examen

FAR MOCK EXAM 1 & 2 QUESTIONS AND ANSWERS
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5

mayo 2024

2023/2024

A+
Disclosure of vulerability due to Identified concentrations - Answer-Only needs to be disclosed when: C's exist at BS date C's make entity vulnerable in near-term Reasonably possible severe impact CFO reporting - Answer-required of segments reportable Avoidable interest - Answer-The potential amount to be capitalized for construction debt (total expenditures / 2(if evenly spread through year)) x interest rate Compare with total and choose lower Exchange that lacks commercial su...
Greaterheights
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Examen

FAR Part 12 - Acquisition of Commercial Items Exam Questions and Answers
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9

marzo 2024

2023/2024

A+
FAR Part 12 - Acquisition of Commercial Items Exam Questions and Answers Implied warranty of merchantability means: (a) it is within the merchant's ability to repair or replace any defective item. (b) the seller refuses to put the warranty in writing. (c) items are reasonably fit for ordinary purposes for which such items are sold or used. (d) items have a warranty that is specified in terms of months or years. - Answer-(c) items are reasonably fit for ordinary purposes for which such it...
KatelynWhitman
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Examen

FAR Exam Questions & Answers 2023/2024
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26

noviembre 2023

2023/2024

A+
FAR Exam Questions & Answers 2023/2024 SU 1 - The Financial Reporting Environment - ANSWER- 1.1 - Standards Setting for Financial Accounting - ANSWER- Nature of financial reporting - ANSWER-Financial accounting produces information about an entity's assets, liabilities, revenues, expenses, and other elements of financial statements. Financial statements are the primary method of communicating to external parties information about the results of operations, financial position, and ...
Bensuda
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