I need the answers to number 1-12. It would really make my day.
The unappropriated retained earnings account would be debited for the following transactions , except A . A two- for- one stock split C. A 70% stock dividend B . A 5 / stock dividend D . An appropriation of retained earnings for planned plant expansi Which of the following statements is true if an entity did not recognize the increase in the fair val we of its investm equity securities accounted at f value through OCT A . Net income is overstated C . Retained earnings at year- end will be overstated B . Net income is understated D . The investment account will be understated 3 . S An analysis of payments made after the reporting date may show that certain liabilities existed but were unred at the end of the reporting period . ST Analytical review procedures are normally employed by the the auditor to obtain assurance of the erall reasonablen of accounts payable . A. Only SI is true B . Only $2 is true C . Both are tru D. Both are false 4 . Income generated from the temporary investment of funds obtained from loans that ar from loans that are used in the construction of qualifying asset Is deducted from the capitalized borrowing costs , if such loan was obtained specifically for the construction of the qualifying asset , and the income is generated during the construction period Is recognized as income in the profi e profit or loss if the loan was obtained specifically for the construction of the qualifying Is recognized as income regardless whether the loan is a general or a specific borrowing Is deducted from the capitalized borrowing costs 5 . Which of the following statement related to goodwill is false ? It is the only unidentifiable intangible asse It may arise from business combination if the acquirer pays a consideration which is higher than the fair value of the acquiree's net asset It may be generated internally It is subsequently measured by checking for possible impairments 6 . S1 An intangible asset with a definite life should be amortized only and should never be tested for impairment $2 An intangible asset with an indefinite life shall be amortized or tested for impairment , whichever is the accounting policy by the entity A True ; Tru B . False : False C . True ; False D. False ; True It is used in evaluation of impairment wherein be derived from the asset it is measured as the present value of future net cash flows expected to recoverable amount B . fair valu C . fair value less cost to sell D. value in use An exclusive right granted by the government to the author , composer or artist , enabling the gray tee to publish , sell orthe buildingIN work with a definite life should be amortized only and I should never be tested for impairment intangible asset with an indefinite life shall be amortized of tested for impairment , whichever is the accounting policy chosen by the entity A . True : Tru B . False : False C. True : False D . False : Tru It is used in evaluation of impairment wherein it is measured as the present value of future net cash flows expected to be derived from the asse recoverable amount B . fair value D . value 8 . An exclusive right granted by the governmen fair value less cost to sell in use otherwise benefit from the literary , musical or artistic work ent to the author , composer or artist , enabling the grantee to publish , sell or 4 . copyrigh B . patent C . goodwill D . trademark 9 . Development costs incurred after technical feasibility shall be recognized a B . expense C. liability adjustment to the RED expenses 10 . Which of the following statements is true ? spenditures extending the life of a property are considered to be revenue expenditures B . ordinary repairs that restores the asset to its previous working condition are considered as capital expenditures C . costs incurred to dismantle an old machinery to give way to the installation of the new machinery is capitalized to the new one , provided that it was not capitalized previously to the old in subsequent costs that in the future service potential of the are capital expenditures 1 1 . Si If an entity obtains a loan to purchase an equipment , the interest paid on the loan shall be a capitalizable borrowing owin cost . 52 It an asset recently revalued have been sold , the whole balance of the revaluation surplus shall be transferred to retained earning A . True ; True B . False alse C . True : False D. False ; Tru 12 . A contingency can be accrued when it is certain that funds are available to settle the disputed amount . B . an asset may have been impaired the amount of the loss can be reasonably estimated and it is probable that an asset has been impaired or a liability incurred it is probable that an asset has been impaired or a liability incurred even though the amount out of the loss cannot b reasonably estimated