If Substantially All the Risks and Rewards of Ownership of the Receivables

question 61

True/False

If substantially all the risks and rewards of ownership of the receivables are transferred, then they are derecognised.

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Definitions:

Instrumental Values

Principles or beliefs that are means to an end, serving as tools or methods to achieve something.

Cognitive Dissonance

The psychological unease felt by a person who simultaneously maintains two or more conflicting beliefs, ideas, or values.

High Priority

A task, project, or issue that is deemed more important than others and thus requires immediate attention or action.

Evaluation

involves assessing or judging the value, quality, or performance of someone or something.