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Question 26
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Statement 1: PAS 36, paragraph 104, provides

that when an impairment loss is recognized
for a cash generating unit (CGU),
such loss shall be allocated first to the goodwill allocated
to the CGU and
then to all other noncash assets of the cash CGU prorate based on carrying
amount.

Statement
2: The revaluation surplus that is realized because of the use of the asset or
disposal of the asset may be
transferred directly to retained earnings.

Select one:
a.        Neither statements are true

b.        Only Statement 1 is true

c.        Only Statement 2 is true

d.
       Both
statements are true

Clear my choice

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 Question 27
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Trade
receivables are classified as current assets if they are reasonably expected to
be
collected

Select one:
a.
      Within one
year or within the operating cycle, whichever is longer.
 

b.
      Within one
year

c.       Within one
year or within the operating cycle, whichever is shorter

d.       Within the
normal operating cycle

Clear my choice

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0:43:27