ADMS 3585 Study Guide - Bobolink, Issued Shares, Debt Service Coverage Ratio
10 Apr 2014
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*the solutions for version b is the same as version a, except the order of the multiple choice questions is different. Sofia inc. shall repay amber corp. ,000 by january 31st, 2013. Should sofia inc. fail to repay the said amount, the company will transfer a building to. The building has a recorded cost of ,000 on sofia inc. "s balance sheet. By the end of 2012, sofia inc. knew that it would not be able to repay the said amount, therefore it recorded the entire transaction as a sale of asset and recognized a gain of (,000 - ,000) ,000. Which of the following best describes the qualitative characteristic sofia inc. had violated: timeliness, representational faithfulness, understandability, conservatism, comparability, mother and son ltd. is a private company specializes in children clothing. It is planning to get listed on a canadian stock exchange in 2015.
