Question
1. The Australian Financial News quoted A$1.00 equals US$1.15/1.18. What does this represent? a. A bid rate of A$1.15. b. A bid rate of US$1.18.
1. The Australian Financial News quoted A$1.00 equals US$1.15/1.18. What does this represent?
a. A bid rate of A$1.15.
b. A bid rate of US$1.18.
c. An offer rate of A$1.18.
d. An offer rate of US$1.18.
2. According to AASB 121, all the following items are monetary items except for:
a. borrowings 60 000.
b. trade payable of 100 000.
c. trade receivable of US$24 000.
d. shares held in BHP Ltd listed on the ASX.
3. At the commencement of the lease agreement the lessor recognises the balance of the lease receivable as the:
a. the nominal value of the lease payments receivable from the lessee.
b. the present value of the lease payments receivable from the lessee.
c. the present value of the residual value of the asset.
d. the present value of the lease payments receivable from the lessee and the present value of the unguaranteed residual value.
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