Voordeelbundel
BUNDLE - FAR EXAMS
BUNDLE - FAR EXAMS
[Meer zien]BUNDLE - FAR EXAMS
[Meer zien]Voorbeeld 1 van de 2 pagina's
In winkelwagenFar Exam – Questions & Answers 2023/2024
FAR Exam F1 MCQ Questions & Answers 2023/2024 
 
 
Replacement cost - ANSWER-Amount of cash or its equivalent that would be paid to acquire or replace an asset currently. It is also an acquisition cost 
 
Current Market Value - ANSWER-cost to sell (not acquire) an asset. AKA fair value 
 
On Decembe...
Voorbeeld 2 van de 6 pagina's
In winkelwagenFAR Exam F1 MCQ Questions & Answers 2023/2024 
 
 
Replacement cost - ANSWER-Amount of cash or its equivalent that would be paid to acquire or replace an asset currently. It is also an acquisition cost 
 
Current Market Value - ANSWER-cost to sell (not acquire) an asset. AKA fair value 
 
On Decembe...
FAR Exam Questions & Answers 2023/2024 
 
 
Operational - ANSWER-Governmental wide financial statements focus on what type of accountability 
 
Prospective application - ANSWER-No adjusting journal entry to Beginning retained earnings. Report in current year and going forward 
 
Purchasing the right...
Voorbeeld 2 van de 11 pagina's
In winkelwagenFAR Exam Questions & Answers 2023/2024 
 
 
Operational - ANSWER-Governmental wide financial statements focus on what type of accountability 
 
Prospective application - ANSWER-No adjusting journal entry to Beginning retained earnings. Report in current year and going forward 
 
Purchasing the right...
FAR Mock Exam 1 & 2 Questions & Answers 2023/2024 
 
 
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 segme...
Voorbeeld 2 van de 7 pagina's
In winkelwagenFAR Mock Exam 1 & 2 Questions & Answers 2023/2024 
 
 
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 segme...
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, expense...
Voorbeeld 3 van de 26 pagina's
In winkelwagenFAR 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, expense...
FAR exam 2 questions & answers 2023/2024 
 
 
Conditional right to receive consideration - ANSWER-Completed some of the performace obligation but must complete more to actually recieve revenue 
 
Conditional right to receive consideration - ANSWER-Contract asset 
 
Unconditional right to receive con...
Voorbeeld 1 van de 4 pagina's
In winkelwagenFAR exam 2 questions & answers 2023/2024 
 
 
Conditional right to receive consideration - ANSWER-Completed some of the performace obligation but must complete more to actually recieve revenue 
 
Conditional right to receive consideration - ANSWER-Contract asset 
 
Unconditional right to receive con...
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