Consolidated Financial Statement

Consolidated Financial Statement

University

8 Qs

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Consolidated Financial Statement

Consolidated Financial Statement

Assessment

Quiz

Education

University

Hard

Created by

Tiara Pradani

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to IAS 28, consolidated financial statements are...

statement that primarily focuses on a company’s revenues and expenses during a particular period

the financial statements of a group in which the assets, liabilities, equity, revenues, expenses, and cash flows of the parent and subsidiary are presented as a single economic entity

measures how well a company generates cash to pay its debt obligations, fund its operating expenses, and fund investments.

ecords how profits are retained within a company for future growth or distributed to external parties

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Definition of parent in consolidated financial statement is...

business entity or corporation either fully owned or partially controlled by another company

a company controlled by a holding company

an entity, including an unincorporated entity such as a partnership, that is controlled by another entity

an entity that has one or more subsidiaries

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to PSAK No. 13, Investment is...

an entry that shows that money has been received

indicates that a transaction has occurred in which a liability or a gain was caused

an asset used by the company for the growth of wealth (acceretion wealth) through the distribution of investment returns

an entry in accounting that records a decrease in assets or an increase in liabilities, as well as a decrease in expenses or an increase in revenue

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Shares is...

a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves)

paper that clearly states the nominal value, company name and is followed by the rights and obligations described to each holder

the distribution of corporate earnings to eligible shareholders

a reward, cash or otherwise, that a company gives to its shareholders

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

non-current assets (long-term assets) are...

an asset that is to be sold, converted to cash, or liquidated to pay for liabilities within one year

assets that are held for a year or less

the assets that are highly liquid as they are readily convertible into cash

types of assets that are expected to be used for more than one year

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Long term assets have several characteristics, except...

held for less than one year

has a physical form

not intended for sale anymore

has material value

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

IAS 38 defined intangible assets as...

an asset that has physical substance

items with a real physical form that may depreciate in value over time

physical and measurable assets that are used in a company's operations

an identifiable non-monetary asset without physical substance held for use in the production or supply of goods or services, for rental to others, or for administrative purposes

8.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to your friends presentation, there are five classification and basic accounting principles of intangible assets, except...

acquisition method

expected useful period

exchangeability

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