Q1

(A)

(B)

(C)

When an impairment loss in relation to a cash-generating unit is reversed, it is allocated on a pro rata basis to the assets of the unit, except for: O land O equipment O goodwill O plant In accounting for share issues, the application account: O is an equity account O is an asset account as it represents amount receivable from potential shareholders O is a liability account O is an expense account The following are examples of contingent liabilities except for: O an agreement to act as guarantor for another entity's borrowings O an unresolved income tax dispute with Australian Tax Office O a bank overdraft O an unsettled lawsuit brought against the entity for breach of safe measures and regulations