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please answer all the questions immediately thankyou 11. According to PAS 37, which of the following is not true? * (1 Point) Under constructive obligation,
please answer all the questions immediately thankyou
11. According to PAS 37, which of the following is not true? * (1 Point) Under constructive obligation, the entity has created a valid expectation in other parties that it will discharge those responsibilities O A legal obligation may derive from a legislature O A provision is a liability of uncertain timing or amount A provision is an obligation to transfer funds to an entity 12. Which is true under PERS 62 | (1 Point) Expenditure for the extraction and processing of m neral resource for transport to market is considered as an expenditure for exploration and evaluation of minera resource Expenditure for the commercial review of possible area for minera extraction before a legal right to explore a specific area is not part of expenditure for exploration and evaluation of minera resource Expenses incurred for marketing the deve opment mirea resource wou o de qua fied as an exploration and evaluation asset Expenditure on procedures that is necessari de ermining the commercial vability of a mineral resource 's not cons dered to be an exporation and evaluation expenditure 13. PAS 36 does not apply to the following assets, except: (1 Point) Agriculture that are measured at fair value less costs to sell, non current assets (or disposal groups) classified as held for sale inventories Assets arising from employee benefits, financial assets that are within the scope of PFRS 9 Financial Instruments, investment property that is measured at fair value Intangible Assets, Property, Plant and Equipment and deferred tax assets O Property Plant and Equipment, Investments in Associates and Joint Ventures and Intangible Assets 14. Which of the following scenario is an exchange that has a commercial substance - (1 Point) Exchange of assets by entities that cause them to remain in essentially same financial position Exchange of asset with difference in future cash fow Exchange by entities within the same industry Exchange of asset with no difference in future cash fow 15. Agricultural activity is (1 Point) The detachment of produce from a biological asset or the cessation of a biological asset's life processes The management by an entity of the biological transformation and harvest of biological assets for sale or for conversion into agricultural produce, or into additional biological assets The original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding The processes of growth degeneration, production and procreation that cause qualitative or quantitative changes in a biological assetStep by Step Solution
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