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International Accounting

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Flashcards	126
Language	English
Category	Micro-Economics
Level	University
Created / Updated	06.01.2020 / 08.01.2020
Weblink	https://card2brain.ch/box/20200106_international_accounting
Embed	<iframe src="https://card2brain.ch/box/20200106_international_accounting/embed" width="780" height="150" scrolling="no" frameborder="0"></iframe>

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In capital lease, the lessee doesn't have any purchasing option.

true

false

If the risk lies of obsolescence lies on the part of the lessor, then it is..

capital lease

operating lease

operating and capital lease

Given the definition adopted in IAS 32 Financial Instruments: Presentation, which one of the following would not be a financial instrument?

cash at bank

bill of exchange

prepaid insurance

forward exchange contract

According to IAS 32, which one of the following instruments would be classified as equity?

redeemable preference shares with a fixed redemption date

redeemable preference share at the discretion of the issuer

redeemable preference share in fice years at the request of the holder

redeemable preference shares redeemable at the discretion of the issuer, who has given formal notification of such intention

XYZ Ltd issues fice-year interset-bearing bonds. The bonds are convertible to a fixed number of equity instruments of the issuer at the discretion of the holder. How should the bonds be classified unter IAS 32?

as equity

as a liability

as either equity or a liability

as having equity and liability components

Which of the following statements best describes the principle of classifying an issued financial instrument as either a financial liability or equity?

Issued instruments are calssified as liabilities or equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability, financial asset and an equity instrument

Issued instruments are classified as liabilities or equity in accordance with the legal form of the contractual arrangement and the definitions of a financial liability and an equity instrument

Issued instruments are classified as liabilities or equity in accordance with management's designation of the contractual arrangement.

Issued instruments are calssified as liabilites or equity in accordance with the risk and rewards of the contractual arrangement.