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Where in its financial statements should a company disclose information
about its concentration of credit risks?
Question 12
Which of the following kinds of risk must be disclosed for most
financial instruments?
Question 13
Bigco, Inc. transferred long-term receivables with a carrying value of
$500,000 to Banco for $425,000 cash. Banco will collect interest on the
receivables during the life of the receivables, but Bigco is obligated to
repurchase the receivables prior to their maturity. What amount of
receivables has Bigco surrendered control of for accounting purposes?
Question 14
Which one of the following is not associated with accounting for a
transfer of a financial asset treated as a sale by the transferor?
Question 15
For accounting purposes, which one of the following is not a
characteristic associated with the transfer of financial assets?
Question 16
A change in the fair value of a derivative qualified as a cash flow hedge
is determined to be either effective in offsetting a change in the hedged
item or ineffective in offsetting such a change. How should the effective
and ineffective portions of the change in value of a derivative which
qualifies as a cash flow hedge be reported in financial statements?
Question 17