AUDITING THEORY

No need to Explain. Just answer. Thank youuuu!!!

1.Best document to prove an acquisition of a Long Term Debt?

a. minutes of the meeting

b. sales invoice

c. inter bank transfer

d. stock certificates

2.Which of the following is not an Investment?

a. treasury shares

b. financial asset at fair value through profit or loss

c. available for sale security

d. amortized cost

3.Which of the Following would not classify as a financial asset at fair value through other comprehensive income-Equity?

a. initially recognized at purchased price plus transaction cost

b. change in fair value during the reporting period is take to OCI and is not reclassified to profit or loss upon derecognition

c. cash and property dividends are reported in OCI

d. designated for non-trading equity instrument for which the enterprise elect to present gains and looses arising from change in fair value in the OCI

4.Which of the following would not classify as FAFVPL-Equity

a. initially recognized at purchase price which is the fair value at the date of acquisition

b. transaction cost directly attributable to acquisition is capitalized to transaction cost

change in fair value, whether realized or unrealized is closed to income statement at year end

d. Cash and property dividends acquired is reported to profit and loss

5.This type of Investment does not have to amortize premium or discount throughout its acquisition?

a. amortized cost

b. FAFVPL

c. FAFVOCI

d. None of the above