FAR 2 - Cash and Cash Equivalents Flashcards
1
Q
What is money in a sinking fund classified as?
A
an investment
2
Q
What is a post-dated check, regardless of the date, classified as?
A
A receivable
3
Q
In book balances, where should overdrawn checks and accounts be listed as?
A
they can be totaled if in the same institution; if not, then the overdrafts must be reported as current liabilities
4
Q
How are financial liabilities measures under IFRS, for the most part?
A
At amortized cost
