To minimise the risk associated with foreign currency monetary items, an entity can enter into a hedge contract new contract speculative contract None of the given answers are correct. QUESTION 9 2 poll An entity shall disclose the date on which the financial statements were authorised for issue and who gave that authorisation. If the entity's owners or others have the power to amend the financial statements after issue, the entity shall (AASB 1101 not disclose that fact disclose that fact disregard that keep that for internal reference Click Save and Submit to see and submit. Click Save All An to save aller Remaining Time: 1 hour, 18 minutes, 49 seconds. Question Completion Status: QUESTION 1 2 points The global financial crisis (GFC) of 2007-2009 generated a great deal of discussion about the potential deficiencies in financial accounting practices used in many countries, particularly within Australia the USA England Japan QUESTION 2 2 points Save According to MSB 124, a related party transaction is a transfer of resources, services or obligations between a reporting entity and a related party, regardless of whether a price is charged product is sold market exists for a product Click Save and submit to save and submit Click Save All Anto e alla ser Save All Answers Save and su dtv SA @ W ** 80 999 00 DI ! a F F10 A 2 3 4 % 5 6 & 7 8 C 9 ) 0 Q W E R T QUESTION 5 If an organisation had expended considerable resources developing a particular publishing title, for example, a leading novel, then while the title would be considered an identifiable intangible asset, because it had been internally developed it __ as an asset for financial statement purposes according to paragraph 63 of AASB 138. could not be recognised O could be recognised could be revalued None of the given answers are correct. QUESTION 6 QUESTION 7 2p In relation to expectations about the useful life (and the residual value) of a non-current asset, paragraph 51 of AASB 116 requires that: The and the useful life of an asset shall be reviewed at least at each financial year-end and, if expectations differ from previous estimates, the change(s) shall be accounted for as a change in an accounting estimate in accordance with AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors' (AASB 116). O depreciable asset residual value depreciable base cost apportionment QUESTIONS To minimise the risk associated with foreign currency monetary items, an entity can enter into a hedge contract