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13 Cards in this Set
- Front
- Back
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b. Fair value of the asset distributed |
An entity shall measure a liability to distribute noncash asset as dividend to the owners at a. Carrying amount of the asset distributed b. Fair value of the asset distributed c. Either the carrying amount or fair value of the asset d. Neither the carrying amount nor fair value |
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a. Directly in retained earnings |
An entity shall adjust the carrying amount of the dividend payable at the end of each reporting period and at the date of settlement with any changes in the carrying amount of the dividend payable recognized
a. Directly in retained earnings b. As gain or loss on property dividend c. As adjustment of share premium d. As component of other comprehensive income |
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a. Gain or loss on distribution of property dividend |
When an entity settles the property dividend payable, it shall recognize the difference between the carrying amount of the asset distributed and the carrying amount of the dividend payable as a. Gain or loss on distribution of property dividend b. Other comprehensive income c. Equity adjustment d. Prior period error |
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c. Lower between carrying amount and fair value less cost to distribute |
An entity shall measure a noncurrent asset classified as held for distribution to owners at
a. Carrying amount b. Fair value less cost to distribute c. Lower between carrying amount and fair value less cost to distribute d. Fair value |
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a. Fair value of the equity instrument issued |
An entity shall initially measure equity instrument issued to extinguish a financial liability at
a. Fair value of the equity instrument issued b. Fair value of the liability extinguished c. Par value of the equity instruments issued d. Carrying amount of the liability extinguished |
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a. Fair value of the liability extinguished |
If the fair value of the equity instrument issued cannot be reliably measured, the equity instrument issued to extinguish a financial liability shall be measured at
a. Fair value of the liability extinguished b. Par value of the equity instrument issued c. Carrying amount of the liability extinguished d. Book value of the equity instrument issued |
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a. Carrying amount of the liability extinguished |
If both the fair value of the equity instrument issued and the fair value of the financial liability extinguished cannot be measured reliably, the equity instrument issued shall be measured at
a. Carrying amount of the liability extinguished b. Par value of equity instrument issued c. Carrying amount of the equity instrument issued d. Value assigned by the Board of Directors |
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b. Separate line item in the income statement |
The gain or loss from extinguishment of a financial liability by issuing equity instrument is presented as
a. Other income or other expense b. Separate line item in the income statement c. Component of other comprehensive income d. Interest expense |
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a. Decommissioning liability |
It is an obligation to dismantle, remove and restore an item of property, plant and equipment as required by law or contract. a. Decommissioning liability b. Mining claim c. Executory obligation d. Contingent liability |
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b. Present value |
The decommissioning liability is initially recognized at
a. Face amount b. Present value c. Maturity value d. Face amount plus interest |
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c. Capitalized as cost of the mining facility |
The decommissioning liability is a. Expensed immediately b. Directly charged against retained earnings c. Capitalized as cost of the mining facility d. A deferred charge |
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d. Either equity or liability depending on the terms and conditions of the financial instrument |
Members' shares in cooperative entities are classified as a. Equity b. Liability c. Partly equity end partly liability d. Either equity or liability depending on the terms and conditions of the financial instrument |
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a. The entity has an unconditional right to refuse redemption of the members' shares |
Members' shares in cooperative entities are classified as equity when
a. The entity has an unconditional right to refuse redemption of the members' shares b. The entity has a conditional right to refuse redemption of the members‘ shares c. The redemption is conditionally prohibited by law d. The redemption is conditionally prohibited by the entity's charter |
