Question
classify one of the following statements as example of one of the factors. The nature of the entity. Industry factors Regulatory factors Economic factors Other
classify one of the following statements as example of one of the factors.
The nature of the entity.
Industry factors
Regulatory factors
Economic factors
Other external factors
Accounting policies.
The entitys objectives strategies and related business risks.
Measurement and review of financial performance.
The risk of fraud.
Required: Classify the matter referred to in the following statement
70% of Blacks revenue for the year is earned between October and December.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
70% of Blacks revenue for the year is earned between October and December.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Black will have to alter the design of its most popular model in order to comply with new environmental protection laws
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Black recognises revenue from the sale of air conditioners when the inventory is shipped.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Black operates in all states of Australia, New Zealand and Papua New Guinea
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
In the past year, Black has increased sales by 30%. This is because consumers are spending on their homes money they would otherwise have spent on travel, which has been restricted due to COVID-19.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Blacks CEO has indicated there are related party transactions with one Board Member.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Black pays its senior executives modest salaries, but significant bonuses where targets are met.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Blacks owners recently appointed two independent directors to the board.
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Some of Blacks contracts are denominated in NZ Dollars
Answer: The matter referred to in the above statement is an example of ?
Required: Classify the matter referred to in the following statement
Black early adopted the new accounting standard on revenue.
Answer: The matter referred to in the above statement is an example of ?
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Financial And Managerial Accounting 15th Edition Text Only
Authors: Jan Williams
15th Edition
B005FCGT4O
