1)SulogOr gani zat ion,

anon- profi
tent ity,hadt hefollowingcashflowsdur ingthey ear:
P250,000unr estri
ctedcont r
ibutions
P2,320,000f rom fundr aisi
ngact i
v i
ti
est osuppor tcurr
entoperati
ons
P330,000f r om adonorwhost i
pul atedt hatthemoneybespenti naccor dancewi ththe
wishesofSul og'sgov erningboar d
P650,000cashdi vi
dendsr estr
ictedf ort hepur chaseofequipment
P900,000expendi turet oacqui reequi pmentwi ththecashdi vi
dendsabov e
P1,100,000f rom adonorwhost ipulat edt hatt
hecont ri
buti
onshal lbeinvested
i
ndef i
nitely
.I ncomef rom t hecont r
ibut i
onmaybeusedi nfurther
anceofSul og's
missionHowmuchi sthenetcashf l
owsf rom investi
ngacti
viti
es?c.(900,000)
2)Entit
yA, agov ernmentent it
y,acqui redi nventoryfrom aforei
gncompanyf or10php,on
account ,
whent hespotexchanger atewas$1: 50php.Att hereporti
ngdat e,theexchange
ratewas$1: 52php.Ent ityAset t
ledt hepur chaseaf t
erthereporti
ngdat ewhent he
exchanger atewas$1: 49php.

Ent i
tyArepor t
sanaccount spay ableof520phpatt herepor
ti
ng
date.Selectone:FalseTr ue
3)Anyleaset hatcont
ainsapur chaseopt i
onmustbet reat
edasaf i
nanceleasebyt
he
l
essor.Selectone:
True
4)Accordingtot heGAM forNGAs, exchangediff
erencesonnonmonet aryi
tems
arerecognizedinSelectone: c.aorb
5)Theobl i
gationunderanoner ouscont racti
srecognizedasaprovi
sion.Select
one:
True6)690, 000

7)Entit
yAi ssuesa10- year,t
erm bondswithfaceamountof20phpfor12phpandincur
s
tr
ansact i
oncostsof1phpont heissuance.
Thei nit
ialcarr
yingamountoft hebondsi s13php
Selectone:
False
8)Accordingt ot heGAM f orNGAs, aser
viceconcessi
onasseti
sini
ti
all
ymeasured
atSel ectone:
 c.eitheraorb
9)Thecommencementoft hel easet ermi sdef i
nedast hedat eonwhi cht heleasedpr opert
y
i
sactual l
ytransf er r
edt othel essee.
Selectone:
TrueFal se
10)OmambatOr gani zat i
on, anot -f
or -profitent ity,recei v
edt hef oll
owingdonat i
onsdur i
ng
20x1:
Landwi t
hf airval ueof₱15, 500,000t obesol dt oacqui r
eabus.
Sharesofst ockswi thfairvalueof₱2, 000, 000t ober etainedindef initel
y.Thedi v
idends
from theshar eswi llbeusedt osuppor tcur rentoper ations.
Asar esultoft hedonat i
onsabov e, howmuchshoul dOmambatr epor tasincreasein
tempor aril
yr estr i
ctednetasset s?
Selectone:
b.15,500,000
11)Whichoft hef ollowi ngst atement si si ncor rect ?
Selectone:
a.Thepr epar ationofacompl et esetoff inanci al st
atement sisopt ionalfornon-profit
organizations.
b. Althought hePFRSsar edesi gnedt obeappl iedbybusi nessent i
ti
es,theycan
alsobeappl iedbynon- prof i
tor gani zat i
ons.
c.Thef i
nanci al stat ement sofnon- prof i
tent i
tiesneednotbeaudi ted.
d. ThePFRSsar enotappl icabl etonon- profi
torgani zati
ons.
12)Changesi naccount ingpol i
ciesar eaccount edf orSelectone:
b.byr etr
ospect iveappl i
cation
13)TheGAM f orNGAsr equiresal loft hef oll
owi ngi nformationt obedi spl ayed
prominentlyandr epeat edl
yont hef aceoft hef inancialstatement s, exceptSel ect
one:
c.Nameoft her elatedRegi st
riesused14)C1onl y

15)Theinceptionoft heleasei sdefinedast hedateofthel

easeagr eementort hedat
eofan
earl
i
erwr itt
encommi tment .Selectone:True
16)Provi
sionsar enev erdiscountedt othei
rpresentval
ue.Selectone:False
17)Enti
tyAi ssuesa10- y
ear ,
term bondswi thfaceamountof20phpf or12phpandincur
s
tr
ansactioncost sof1phpont hei ssuance.Ifi
nYear1,theinter
estpay mentis1.
50php
whil
ethei nterestexpensei s2php, thecarry
ingamountoft hebondsatt heendofthe
 per i
odmustbe11. 50php.Sel ectone: True
18)Financi alaccounting( f
inancialr
eporting)appli
est owhichoft hef ol
lowing?Selectone:d.
Alloft hese
19)Whi choft hefoll
owi ngisnotoneoft heformsofj ointventur
esundert heGAM f orNGAs?
Selectone:
d.Joi ntl
ycont r
ollednetasset s
20)Financi all
iabil
it
ies,exceptfinanciall
iabil
iti
esclassif
iedtobesubsequent lymeasuredat
fairv al
uet hroughsur pl
usordef icit
,areinit
ial
l
ymeasur edatfairvalueplustransacti
on
cost s.Selectone: False
21)Thest atementoff inancialposit
ionisdat edast hereporti
ngdat e.Selectone:True
22)EntityA, agov ernmentent ity,repor tst otal asset sif100php, tot all
iabili
tiesof80php,
tot
al rev enuesof10phpandt otalexpensesof6phpf ort hecur rentyear .Ent i
tyA
want st ot ranslatei t
sf i
nanci alstat ement si ntodol l
ar s.Thef ol l
owi ngar et he
exchanger ates: December31( r
epor tingdat e)...
..
..
...$1: 10php.Av er
ager atefort he
year. .
..
.....
..
..$1:8phpThet ranslatedt otal equi tyis200php.Sel ectone: Tr ue
23)Whi choft hefollowingwi lll
eadt of inancel easecl assification?Sel ectone: e.anyoft hese
24)Afinanci al l
iabi
litycannotar isef r
om const ructiveobligat i
on.Sel ectone: False
25)Agov ernmentent ityrecognizest heef fectoft hi sit
em i nsur pl
usordef i
citrathert han
dir
ect l
yi nequi t
y .Selectone: d.Recei ptofnon- cashal locat i
on
26)Whenanent it
ypr esentsexpensesi nt hest atementoff inancialper f
ormancebyf unction,
i
tshal lpr ovideaddi ti
onaldisclosur esi nt henot esthati ncludeall ofthef ol
lowi ngexcept
Selectone: a.capi t
al outl
ays
27)Alesseeunderaf i
nancel easer ecogni zest hel easedassetandt hecor respondi ngf i
nance
l
easel i
abi l
it
yatt heSel ectone: c.lowerofaandb
28)Accor di
ngt ot
heGAM f orNGAs, aCondensedStatementofFinancialPosit
ioni
sonethat
presentslinei
temsonl yratherthanall
theaccountsusedbyent i
ty.Sel
ectone:True
29)Accor di
ngt ot
heGAM f orNGAs, gover
nmententit
iesshal
lpresentexpensesinthe
statementoffinancialperf
ormanceaccor di
ngtotheSelectone:c.aorb, asamat t
erof
accountingpolicychoice
30)Foranon- prof
itenti
ty,theoperati
ngactiv
iti
essect
ionofthestatementofcashf l
owscan
bepr eparedusingSelectone:c.aorb
31)80,000

32)Non-adj
usti
ngevent
sar
enev err
ecogni
zedbutareal
waysdiscl
osed.Sel
ectone:Tr
ue
Fal
se
33)Whichofthefol
l
owingi
nfor
mat i
onisnotr
eport
edinthest
atementofchangesinnet
 asset s/ equi ty?Sel ectonec.ef fectsofchangesi naccount ingest imat es
34)Whi choft hef ol l
owi ngi saj ointvent uret hati scl assi f
iedas‘ joint l
ycont rolledasset s’?
Selectone:
b.twopar ti
esagr eet ocont ri
buter esour ces
35)Priorper ioder rorsar ecor rectedbyr etrospect i
v er est at ement .Sel ectone: Fal se
36)Thest at ementoff inanci al per f
ormanceofagov ernmentent ityi st heexactequi valentof
thest at ementofcompr ehensi veincomeofabusi nessent ity.Sel ectone: Tr ue
37)OnDecember31, 20X1, theBoar dofTr ust eesofapr i
v ate, not -for-pr ofitcol lege
desi gnat ed$5, 000, 000ofunr est r
ictednetasset sf ort heconst ruct i
onofanaddi ti
ont othe
musi cbui lding.Whatef fectdoest hisdesi gnationhav eont hecol lege’ sunr est ri
ctedand
tempor ar il
yr est r
ict ednetasset sshownont hest atementoff i
nanci al posi tionon
December31, 20X1?Unr est ri
ctedNetAsset s,Tempor ar i
lyr est rictedNetAsset sSel ect
one: a.Noef fect, Noef fect
38)Al essorunderaf inancel easer ecogni zesaneti nv est menti nt hel easemeasur edatt he
presentv alueoft hel easepay ment sandunguar ant eedr esidual value, ifany .Sel ectone:
False
39)InNov ember20x1Gi l
mor eHeat i
ngandAi rCondi ti
oni ngSer v icer epai redt heai r
condi tioni ngsy stem f orGenCar e,av olunt aryheal thandwel f areor gani zat ionandmai led
ani nv oi cef or$3, 000.OnDecember25, anot ewasr ecei vedbyGenCar ei ndi cat i
ngt hat
Gilmor ewascancel ingt hei nvoiceandt hatr epai rswer ebei ngdonat ed.Fort hey ear
ended, December31, 20x1, GenCar eshoul dr epor tt hesecont ribut edser vicesas: Sel ect
one: c.Ani ncr easei nunr est r
ictedr evenuesandani ncr easei nexpensesont hest atement
ofact ivities.
40)Accor di ngt ot hePPSAS, aser vi
ceconcessi onasseti sanassetusedt opr ov idepubl ic
serv i
cesi naser viceconcessi onar rangementt hatSel ectone: c.theoper at orconst ruct s,
dev elops, oracqui resf rom at hirdpar ty
41)Ent i
tyA, agov ernmentent ity,entersi ntoaser vi
ceconcessi onar rangementwi thapr ivate
ent i
ty .Undert hear rangement ,theoper at orunder takest opr ov idet hegr ant orat angi ble
serv i
ceconcessi onasset .Inr eturn,Ent ityAwi llcompensat et heoper at orbymaki ng
pay ment sof10phppery eari nt henext10y ears.I ft heappr opr iatepr esentv aluef act oris
3.50, Ent ityAwi l
l recogni zet heser v i
ceconcessi onasset ,andt her elat edf i
nanci al l
iabi l
ity
,
at35php.Sel ectone: False42)OnDecember31, 20X1, theBoar dofTr ust eesofapr i
v ate,
not -
for -pr ofitcol legedesi gnat ed$5, 000, 000ofunr est rictednetasset sf ort he
const ruct ionofanaddi tiont othemusi cbui l
ding.Whatef fectdoest hisdesi gnat ionhav e
ont hecol l
ege’ sunr est ri
ct edandt empor aril
yr estr i
ct ednetasset sshownont he
statementoff inanci al posi ti
ononDecember31, 20X1?Sel ectone: b.Noef fect ,Noef fect
43)Ifoneormor eoft hel i
abi li
tyr ecogni ti
oncr i
teri
aar enotmet ,thei tem i sacont i
ngent
l
iability ,Sel ectone: Tr ue
44)Agov er nmentent itypr esent spay ment sf orpur chasesofi temsofPPEi nt hest atementof
cashf l
owsSel ectone: a.underf i
nanci ngact i
viti
esNetofwi thhol dingt axes
45)Anof f i
ceequi pmentr epresent ati
vehasamachi nef orsal eorl ease.I fy oubuyt he
machi ne, thecosti s₱7, 596.I fyoul easet hemachi ne, y ouwi ll hav et osi gnanon-
cancel abl el easeandmake5pay ment sof₱2, 000each.Att het imeoft hel astpay ment ,
 youwi l
lrecei v et itlet ot hemachi ne.Thef irstpay mentwi llbemadeont hef irstdayoft he
l
ease.Thei nt erestr at ei mpl icitint hisl easei sappr oxi mat el ySel ectone:b.16%
46)Ent ityA( l
essor )ent er si ntoa10- y earf inancel easewi thEnt i
tyB.Leasepay ment sof
100phpar edueatt hest ar tofeachy ear .Thei nt erestr at ei mpl iciti nt hel easei s10%.
Ent ityAwi llrecogni zei nter esti ncomei nYear1comput edasf ol l
ows: (presentv alueof
l
easepay ment s- -f i
rstpay ment )x10%.Sel ectone: Tr ue
47)Legal obl igat ionsar iseonl yf rom t hel aw.Sel ectone: fal se
48)Thegr ant ori naser viceconcessi onar rangementi saSel ectone: a.gov er nmentent ity
49)Dur ingt heper i
od, Ent i
tyAacqui resani tem ofPPEi naf or eigncur rencyt ransact ion.Asat
ther epor tingdat e, thepay mentf ort hepur chasei snoty etset t
led; howev er ,thei tem of
PPEwasal readydel i
v er edandaccept edbyEnt ityA.Whi choft hef ollowi ngwoul dneedt o
bet ransl at edatt her epor t i
ngdat e?Sel ectone: a.t her el atedpay abl e
50)Themachi neofGast onOr gani zat ion, anot -for -prof i
tent ity, hasmal funct ioned.Mr
Jonat han, apr of essi onal mechani c, repai redt hemachi nef orf r
ee.Thef airv alueoft he
ser vicesi sest imat edat₱10, 000.Whi choft hef oll
owi ngst atement si scor rect ?Sel ectone:
a.Thi sev enthasazer o-netef fectonGast on’ snetasset s.
51)Int hef irsti nst ance, changesi naccount ingpol iciesar eaccount edf orbyr et rospect ive
appl ication.Sel ectone: False
52)Ent ityAi ssuesa10- year ,ter m bondswi thf aceamountof20phpf or12phpandi ncur s
transact i
oncost sof1phpont hei ssuance.
Thenomi nal rat eoft hebondsi shi ghert hant heef fect i
v ei nt erestr ate.
Selectone:
False
53)Ent ityA, agov ernmentent i
ty ,repor tst ot al asset si f100php, t
ot al li
abi li
tiesof80php, t
otal
revenuesof10phpandt ot al expensesof6phpf ort hecur renty ear .Ent ityAwant st o
transl atei tsf inanci al stat ement si nt odol l
ar s.Thef oll
owi ngar et heexchanger ates:
December31( r
epor t
ingdat e). .
....
....$1: 10php.Av erager at ef ort hey ear. ....
....
..
..$1: 8php
Thet ransl at edt ot al asset si s1, 000phpSel ectone: True
54)Ent ityA, agov ernmentent i
ty ,acqui redi nvent or yf r
om af or eigncompanyf or10php, on
account , whent hespotexchanger at ewas$1: 50php.Att her epor t
ingdat e,theexchange
ratewas$1: 52php.Ent ityAset tledt hepur chaseaf terther epor tingdat ewhent he
exchanger atewas$1: 49php.Ent ityAr ecogni zesanetf or eignexchangegai nof30php
from t het ransact ion.Sel ectone: Fal se
55)Thepr esent ationr equi rement sf orst at ementofcashf lowsofgov ernmentent i
tiesdi ff
er
from t her equi rement sofabusi nessent it
yi nwhi choft hef ol l
owi ngr espect s?Sel ectone: .
d.Thepr esent at i
onofcashf lowsf rom ( usedi n)oper at ingact i
v iti
esusi ngt hedi rect
met hodonl y; thechoi ceofusi ngt hei ndi rectmet hodi snotav ailabl e.
56)Mi nimum l easepay ment si ncludeanyamountt obepai df orbar gai npur chaseopt ionsand
guar ant eedr esi dual v alues.Sel ectone: TrueFal se
57)Inter estr at eimpl icitint hel easei st hedi scountr atet hat ,att hei ncept i
onoft hel ease,
causest heaggr egat epr esentv alueoft hemi ni mum l easepay ment sandt he
unguar ant eedr esi dual v aluet obeequal tot hesum oft hef airv al ueoft hel easedasset
andanyi nitial directcost soft hel essor .Sel ectone: True
58)EntityA, agov er
nmentent it
y,ent
ersintoaser viceconcessi onar r
angementwi tha
pri
v ateentity.Underthearrangement,theoper atorundertakest oprovi
det hegr antora
tangibleser vi
ceconcessionasset.Inreturn,EntityAwillcompensat etheoper atorby
maki ngpay ment sof10phppery earint henext10y ear
s.Insubsequentper iods, Enti
ty
Awi l
lrecognizedepr eci
ati
onexpenseont heassetandt hei nterestexpenseont he
l
iabili
ty.Selectone: True
59)Asepar at
esetofbooksofaccount swoul dmostl ikel
ybeest abl
ishedinthist
y peofj oint
venture.
Selectone: c.Joint
lycontr
oll
edenti
ti
es
60)D

61)Ifal easet ransf ersowner shipoft hepr oper tyt ot hel esseebyt heendoft hel easet erm, i
t
willbecl assi fiedasaf inancel easebyt hel essor .Sel ectone: Tr ue
62)Itisanor gani zat iont hatcar riesoutsoci all
ydesi rableneedsoft hecommuni t yorits
member swi t
houtt hei ntent ionofmaki ngpr of i
t.Sel ectone: a.NPO
63)SulogOr gani zat ion,anon- profitentity,hadt hef ollowi ngcashf l
owsdur ingthey ear:
P250, 000unr est ri
ctedcont r
ibut i
onsP2, 320, 000f rom f undr aisingact i
viti
est osuppor t
currentoper at ions
P330, 000f rom adonorwhost ipulatedt hatt hemoneybespenti naccor dancewi tht he
wishesof
Sulog'sgov er ningboar dP650, 000cashdi vi
dendsr est rictedf ort hepur chaseof
equi pmentP900, 000expendi turetoacqui r
eequi pmentwi t ht hecashdi videndsabov e
P1,100, 000f rom adonorwhost i
pul atedt hatt hecont ribut i
onshal lbeinv estedi ndef i
nitel
y.
Incomef rom t hecont ri
but i
onmaybeusedi nf urther anceofSul og'smissi onHowmuchi s
thenetcashf lowsf rom oper at i
ngact i
v i
ties?Sel ectone: c.2, 900, 000
64)PollescasOr gani zation, anon- profitent i
ty ,
acqui redshar esofst ockst obehel das
i
nv estmentf or
₱180, 000usi ngunr est rictednetasset s.Dur ingt hey ear ,Pol lescasr eceivedcash
dividendsof₱15, 000.Aty ear-end, theshar eshav eaf airv alueof₱245, 000.Whati st he
effectoft het ransact ionsdescr i
bedabov eont hey ear -endst at ementofact iv i
tiesof
Pol l
escasOr gani zation?
i
ncr ease( decr ease)Sel ectoneb.15, 000
65)Ger l
ackCol lege, apr ivat e, not-for-
pr ofitinstitution, r
ecei vedadonat i
onof$2, 000,000asa
chal l
engegr ant .Ift
hecol l
eger ai
sesanaddi tional $2, 000, 000wi t
hinthenextt woy ears, i
t
maykeept hedonat ion.I fitfails,t
he$2, 000, 000mustber etur nedt othedonor .How
 woul dt hecol leger ecor dt her ecei ptoft hegr ant ?Sel ectone: b.Ref undabl eadv ance
66)Apr ov isioni sal iabi lit
yofuncer tai ntimi ngoramount .Sel ectone: True
67)SulogOr gani zat ion, anon- prof i
tent i
ty,hadt hef ol l
owi ngcashf lowsdur i
ngt hey ear :
P250, 000unr est r i
ct edcont ributionsP2, 320, 000f rom f undr aisi ngact ivi
tiest osuppor t
currentoper at ions
P330, 000f rom adonorwhost i
pul atedt hatt hemoneybespenti naccor dancewi tht he
wishesof
Sulog'sgov er ningboar dP650, 000cashdi v i
dendsr est ri
ct edf ort hepur chaseof
equipmentP900, 000expendi t
ur et oacqui reequi pmentwi t
ht hecashdi videndsabov e
P1,100, 000f rom adonorwhost ipulatedt hatt hecont ri
but i
onshal l bei nv est edi ndef init
ely.
Incomef rom t hecont ribut ionmaybeusedi nf urther anceofSul og' smi ssi onHowmuchi s
thenetcashf lowsf rom f i
nanci ngact i
v i
ties?Sel ectone: c.1, 750, 000
68)EntityA, agov ernmentent ity,acqui redi nv ent or yf r
om af or eigncompanyf or10php, on
account ,whent hespotexchanger atewas$1: 50php.Att her epor tingdat e,theexchange
ratewas$1: 52php.Ent i
tyAset tl
edt hepur chaseaf tert her epor tingdat ewhent he
exchanger at ewas$1: 49php.I ft heinv ent oryi sconsumedbyt her epor tingdat e, the
carryingamountoft hei nv ent orychar gedasexpensei s500php.Sel ectone: Fal se
69)EntityA, agov ernmentent ity,acqui redi nv ent or yf r
om af or eigncompanyf or10php, on
account ,whent hespotexchanger atewas$1: 50php.Att her epor tingdat e,theexchange
ratewas$1: 52php.Ent i
tyAset tl
edt hepur chaseaf tert her epor tingdat ewhent he
exchanger at ewas$1: 49php.I ft heinv ent oryr emai nsunsol datt her epor tingdat e,its
carryingamounti nt hest at ementoff i
nanci al posi tionis520php.Sel ectone:Fal se
70)Accor di ngt ot heGAM f orNGAs, gov ernmentent i
tiesshal l presentf inanci al st at ement sat
l
eastannual ly .Sel ectone: Tr ue
71)Accor di ngt ot heGAM f orNGAs, spotexchanger atei sSel ectone: d.t heexchanger atefor
i
mmedi at edel ivery .
72)Thesedi fferencesbet weent he‘ actual amount soncompar abl ebasi s’,pr esent edi nt he
statementofcompar i
sonofbudgetandact ual amount s, andamount spr esent edi nt he
othercomponent soff inanci alst atement soccurwhent heappr ov edbudgeti spr epar ed
onabasi sot hert hant heaccount i
ngbasi s.Sel ectoned.Basi sDi fferences
73)EntityA, agov ernmentent ity,ent ersint oaser viceconcessi onar r angementwi thapr iv
ate
entity.Undert hear rangement ,theoper atorunder t
akest opr ov i
det hegr ant orat angi ble
serviceconcessi onasset .Inr etur n,Ent i
t yAwi l
l compensat et heoper atorbymaki ng
payment sof10phppery eari nthenext10y ear s.Ent it
yAi saj oi ntv entur eri naj oint
ventur et hati scl assi fiedasj ointlycont rolledasset s.Ent i
tyAowns50%i nter esti nt he
j
ointv ent ure.Att heendoft heper iod, Ent it
yAhast otal asset sof100phpwhi let hej oint
ventur ehast ot al asset sof50php.Ent ityAwi llrepor ttotal asset sof125phpi ni tscur r
ent
yearf inanci al st atement s.Sel ectone: Tr ue
74)Unlikebusi nessent i
ties, gov er nmentent i
tiesar er equi r
edt opr epar ei nter i
mf inanci al
statement sonaquar terlybasi s.Sel ectone: Tr ue
75)Thel esseedepr eci atest hel easedassetunderaf i
nancel ease.Sel ectone: Tr ue
76)TheGAM f orNGAsr equi r esgov ernmentent i
tiest opr esentexpensesi nt hest atement
offinanci al per for manceaccor dingt ot hef unct i
onoft hoseexpenses.Sel ectone:
 False
77)EntityA,agovernmentent i
ty,
acqui r
edinventoryf
rom aforei
gncompanyf or10php, on
account,whent hespotexchanger atewas$1: 50php.Atthereport
ingdate,theexchange
rat
ewas
$1:52php.Entit
yAset t
ledthepur chaseaftertherepor
ti
ngdat ewhentheexchanger at
e
was$1: 49php.Entit
yAr ecognizesaf or
eignexchangelossof20phpatt her eport
ingdate.
Selectone:True
78)Gov ernmententit
iespr
esentinf or
mat i
ononot hercomprehensivei
ncome, justli
ke
businessenti
ties.Sel
ectone:False
79)Ent
it
yA(
lessor
)ent
ersi
ntoa10-
yearf
inancel
easewi
thEnt
it
yB.Leasepay
ment
s
of100phpar edueatthestar
tofeachy ear.Thei nt
erestr
ateimpli
citintheleaseis
10%.Att hecommencementdat e,Enti
tyAwi ll
recognizeanetinvestmentint he
l
easecomput edas100phpxPVofor dinaryannui t
y@10%, n=10.Selectone: Fal
se
80)Whi chofthefoll
owi
ngdoesnotl eadtot heclassifi
cati
onofal i
abil
it
yascur rent?
Selectone:a.Iti
scashoracashequi valent,unlessiti
srestr
ict
edfrom being
exchangedorusedt osett
leali
abili
tyforatleast12mont hsaft
erther epor
ting
date.