Chapter 11 - Current Liabilities and Contingencies Flashcards
1
Q
Factors that effect indebtedness
A
2
Q
Liability
A
3
Q
Conditions to be a Liability
A
4
Q
Provisions
A
5
Q
Financial Liability
A
6
Q
Current Liabilties
A
7
Q
Financial Liabilities Held for Trading
A
8
Q
Other Financial Liabilities
A
9
Q
Fair Value
A
10
Q
Non-Financial Liabilities
A
11
Q
Current Ratio
A
Current Assets / Current Liabilities
12
Q
Working Capital
A
Current Assets - Current Liabilities
13
Q
Current Assets
A
14
Q
Trade Payables
A
15
Q
Cut-off
A
16
Q
Gross Versus Net
A
17
Q
Journal Entry for Gross and Net Methods (100,000 with 2/10 net 30)
A
18
Q
J/E for Sales Tax and Settlement
A
19
Q
Warrenty
A
20
Q
Expected Value
A
21
Q
Defferred Revenue
A
22
Q
J/E Awards Supplied by entity (Rewards Program)
A
Hotel Example:
23
Q
The Effects of changes in the Foreign exchange rates
A
24
Q
Contingencies
A
25
Three Ranges of Probabilities
26
Contingent Liability
27
Contingent Asset
28
Financial Guarantee Asset
29
Substantive Differences between IFRS and ASPE (1)
30
Substantive Differences between IFRS and ASPE (2)
