What Is Ling's 2013 Net Income Using Accrual Accounting

question 131

Multiple Choice

What is Ling's 2013 net income using accrual accounting?

• A) ¥15,500.
• B) ¥23,500.
• C) ¥22,500.
• D) ¥14,500.

Identify the scope and exclusions of AASB 16/IFRS 16 regarding lease agreements.

Comprehend the concept of risks and rewards of ownership of an asset in the context of leasing.

Execute proper journal entries for the initial recognition of finance and operating leases by lessors.

Recognize how initial direct costs are handled in operating leases.

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Definitions:

Caucasian Face

Refers to facial features traditionally associated with people of European descent, often discussed in studies of race and perception.

Behavioural

Relating to or concerned with the actions or activities of living organisms; often used in psychology to refer to observable actions as a basis for study.

Favourable Attitude

A positive orientation or liking towards something, characterized by approval or support.

Relative Value

The worth or importance of something in relation to another item's worth, often used in economics and investing.