Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) Which of the following is NOT a time-based depreciation method? a.straight-line b.units of production c.double-declining balance d.any diminishing balance method 2) When all or

1) Which of the following is NOT a time-based depreciation method?

a.straight-line

b.units of production

c.double-declining balance

d.any diminishing balance method

2) When all or a portion of shareholders' capital investments are returned to them, this is called a

a.return dividend.

b.liquidating dividend.

c.stock dividend.

d.investment dividend.

3) IFRS require that assets must be assessed for indications of impairment

a.at the end of every quarter.

b.at the end of each reporting period.

c.when events and circumstances indicate that asset's carrying amount may not be recoverable.

d.whenever the method of depreciation has changed.

4) Which of the following best describes the concept of cash-generating units (CGU)?

a.Their cash flows are dependent on those of other CGU's.

b.The individual assets that are included in the CGU do not generate cash flows on their own.

c.A CGU is the largest identifiable group of assets that generates cash inflows predominantly independent from other CGUs.

d.IFRS does not recognize the concept of cash-generating units (CGU).

5) The sale of a depreciable asset resulting in a loss indicates that the proceeds from the sale were

a.less than book value.

b.greater than cost.

c.greater than book value.

d.less than current market value.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Cost Accounting A Managerial Emphasis

Authors: Srikant M. Datar, Madhav V. Rajan, Louis Beaubien

8th Canadian Edition

134453735, 9780134824680, 134824687, 9780134733081 , 978-0134453736

More Books

Students also viewed these Accounting questions