Multiple choice If the lease in a sale for lease meets the terms of sale (IFRS 15) and is called a lease, which party records the asset on the books and which party records interest expense during the lease period a Buyer Lessor and Seller Lessee b Seller Lessee and Purchaser Lessor c Buyer Lessor and Purchaser Lessor d Seller Lessee and Seller Lessee Unless acquired in a business combination, an intangible asset should be measured initially using which of the following measurement approaches a Net present value b Discounted cash flows c Fair value d Cost (cost) Lease liability accounts should be presented as a Current liabilities are in the current portion and the remainder becomes long term liabilities b Long term liabilities c Short term liabilities d Deferred debt PT Ambyar acquires the equipment and incurs the following costs The gross invoice price on the 5 10, n 30 terms is $ 46,500 Transport costs to bring equipment to the factory $ 3,200 speeding ticket covered by company driver when delivering equipment to factory $ 120 The cost of repairing walls damaged during installation is $ 1,200 a special permit to allow wide loads on the freeway $ 600 Equipment must be recorded in a record with PT Ambyar at the value of a $ 49,700 b $ 50,300 c $ 46,500 d $ 51,500 An impairment test should be applied to tangible assets a At the end of each reporting period b Every 3 year interval c Only if there are indications that the asset may be impaired d At the end of each reporting period, including interim financial reporting, such as semi annual reports When assessing the recovery of an asset that was previously impaired, the following indicators help provide external evidence that an impairment loss has recovered a Internal reporting sources indicate that the economic performance of the asset will not be as good as expected b Market interest rates have decreased during this period c There have been significant changes that have had an adverse impact on the entity d The market value of the asset has decreased significantly during this period

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Posted on Jul 23, 2024

Multiple choice

If the lease in a sale-for-lease meets the terms of sale (IFRS 15) and is called a lease, which party records the asset on the books and which party records interest expense during the lease period?

a. Buyer-Lessor and Seller-Lessee

b. Seller-Lessee and Purchaser-Lessor

c. Buyer-Lessor and Purchaser-Lessor

d. Seller-Lessee and Seller-Lessee

Unless acquired in a business combination, an intangible asset should be measured initially using which of the following measurement approaches?

a. Net present value

b. Discounted cash flows

c. Fair value

d. Cost (cost)

a. Current liabilities are in the current portion and the remainder becomes long-term liabilities

b. Long-term liabilities

c. Short-term liabilities

d. Deferred debt

PT Ambyar acquires the equipment and incurs the following costs. The gross invoice price on the 5/10, n / 30 terms is $ 46,500. Transport costs to bring equipment to the factory $ 3,200; speeding ticket covered by company driver when delivering equipment to factory $ 120. The cost of repairing walls damaged during installation is $ 1,200; a special permit to allow wide loads on the freeway $ 600. Equipment must be recorded in a record with PT Ambyar at the value of:

a. $ 49,700

b. $ 50,300

c. $ 46,500

d. $ 51,500

a. At the end of each reporting period

b. Every 3 year interval

c. Only if there are indications that the asset may be impaired

d. At the end of each reporting period, including interim financial reporting, such as semi-annual reports

When assessing the recovery of an asset that was previously impaired, the following indicators help provide external evidence that an impairment loss has recovered:

a. Internal reporting sources indicate that the economic performance of the asset will not be as good as expected

b. Market interest rates have decreased during this period

c. There have been significant changes that have had an adverse impact on the entity

d. The market value of the asset has decreased significantly during this period.