According to AASB 132,which of the Following Are Considered to Be

question 86

Multiple Choice

According to AASB 132,which of the following are considered to be financial assets?

• A) an equity instrument of another entity
• B) a futures contract for the delivery of a product or service
• C) a prepayment
• D) a futures contract for the delivery of a product or service and a prepayment

Differentiate between current assets, non-current assets, current liabilities, and non-current liabilities.

Identify financial instruments not considered as cash equivalents.

Understand the reporting and classification of bank indebtedness.

Apply knowledge of cash equivalents and bank indebtedness to bank reconciliation processes.

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Definitions:

Peristalsis

A series of wave-like muscle contractions that moves food through the digestive tract.

Bowel Movement

The final act of digestion, where solid waste is expelled from the body through the anus.

Ileostomy Pouch

A medical device attached to the body to collect waste from the digestive tract through an opening made during an ileostomy surgery.

Blood in Stool

The presence of visible or microscopic blood in feces, which can be a sign of various conditions, from minor issues to serious diseases.