The Amalgamated Fund Has Assets with a Market Value of $25

question 124

Multiple Choice

The Amalgamated Fund has assets with a market value of $25 million dollars,liabilities of $1 million dollars and 10 million shares outstanding.Its net asset value is

• A)$2.40.
• B)$24.00.
• C)$25.00.
• D)$26.00.

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Definitions:

IFRS

IFRS, or International Financial Reporting Standards, are a set of accounting standards developed by the IASB that aim to ensure transparency, accountability, and efficiency in the financial statements of public companies globally.

Liabilities Reporting

The process of disclosing a company's obligations and debts on its financial statements.

Revenues Test

A criterion used to assess whether revenues are being recognized in the correct accounting period under the accrual basis of accounting.

Operating Segment

A component of a business that engages in business activities earning revenues and incurring expenses, whose operating results are regularly reviewed by the organization's chief operating decision maker.