Long-term interest bearing notes receivable shall be initially measured at A. Face valueB. Present valueC. Maturity valueD. Amortized cost Long term notes receivablewhich bears no interest or minimal interest should be recognized initially atA. face valueB. maturity valueC. present valueD. current value Initially, loans andreceivables are measured atA. fair valueB. maturity valueC. fair value
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Long-term interest bearing notes receivable shall be initially measured at
A. Face value
B. Present value
C. Maturity value
D. Amortized cost
Long term notes receivable
which bears no interest or minimal interest should be recognized initially at
A. face value
B. maturity value
C. present value
D. current value
Initially, loans and
receivables are measured at
A. fair value
B. maturity value
C. fair value plus transaction costs that are directly
attributable to the acquisition
D. maturity value plus transaction costs that are directly
attributable to the acquisition
What is the treatment of
direct origination costs incurred in connection with loans receivables?
A. charged directly to retained earnings
B. included in profit or loss
C. part of the initial carrying amount of loan receivable and
amortized using the effective interest method
D. part of the initial carrying amount of loan receivable and
amortized using the straight line method
Subsequent to initial
recognition, a loan receivable shall be measured at
A. Cost
B. Amortized cost using the straight line method
C. Amortized cost using the effective interest method
D. Fair value
In the lender's point of
view, which item shall be added to the principal amount of loan to determine
its carrying value?
A. direct origination costs
B. Indirect origination costs
C. origination costs charged to borrower
D. A and B
E. A, B and C
If there is evidence that
an impairment loss on loan receivable has been incurred, the loss is equal to excess
of ______over the _____
A. carrying amount of loan; present value of cash flows related
to the loan
B. present value of loan; carrying amount of loan
C. carrying amount of loan; principal amount of loan
D. principal amount of loan; carrying amount of loan
The following are methods
of generating cash from accounts receivable, except
A. pledge
B. assignment
C. factoring
D. discounting
E. none of the above
If accounts receivable is
pledged against borrowings, the amount of accounts receivable pledged should
be?
A. included in total receivables without disclosure
B. included in total receivables with disclosure
C. excluded from total receivables without disclosure
D. excluded in total receivables with disclosure
A financing arrangement
usually done in a without recourse, notification basis.
A. pledge
B. discounting
C. assignment
D. factoring
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