How does natural capital accounting expand traditional financial reporting? [General Accounting] a) Measures and reports environmental resource consumption and replenishment b) Focuses only on manufactured assets c) Ignores environmental impacts completely d) Reports just monetary transactions

Which statement is incorrect regarding classification of financial assets?   a. An entity can classify financial assets that meet the amortized cost criteria as at FVPL if doing so eliminates or reduces an accounting mismatch.   B. In order to be classified at fair value through OCI, a debt instrument needs to have either simple principal and interest cash flows or be held in a business model in which both holding and selling financial assets are integral to meeting management’s objectives.   C. An investment in equity instrument may not be classified as financial asset subsequently measured at amortized cost.   D. Reclassifications of financial assets are only permitted on the change of an entity’s business model and are expected to occur only infrequently.

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38. Which of the following account statements regarding assets is not true? a. An asset represents a probable future economic benefit b. Assets are obtained or controlled as a result of past or probable future transactions c. Assets reported on the balance sheet include both monetary and nonmonetary resources d. Assets include costs that have not yet been matched with revenues

Which of the following statements best distinguishes the difference between real and financial assets?     financial assets appreciate in value; real assets depreciate in value.     real assets are tangible; financial assets are not.     real assets have less value than financial assets.     financial assets represent claims to income that are generated by real assets.

Which of the following is an External sources of finance? a.Depreciation funds b.Retained earnings c.Loans from Banks and Financial institutions d.Surplus

Which of the following is correct about subsequent measurement of financial asset at fair value? a. the financial asset shall be measured at fair value if the business model is not to collect contractual cash flows on specified dates and the contractual cash flow ae not solely payment of principal and interest. b. An entity may designate a finacncial asset as measured at fair value through profit or loss even if the financial asset satisfies the amortized cost measurement. c. both are correct d. both are incorrect

Financial Asset at Fair Value under OCI would have its gain or loss reported at what Financial Statement?   Income Statement Cash Flow Changes in Owners Equity Balance Sheet

Which of the following is NOT correct regarding the rate of return on assets? a. The rate of return on assets measures management’s ability to productively employ all its resources. b. The rate of return on assets measures the return on all assets used regardless of how the assets are financed. c. The rate of return on assets is a measure of profitability. d. The rate of return on assets measures the return on the investment made by the owners of the entity. is B the correct answer?

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