Which of the Following Disclosure Are Required by IFRS 15

question 18

Multiple Choice

Which of the following disclosure are required by IFRS 15?
I) Total income, allocated between revenue and other gains
II) qualitative and quantitative information about contracts with customers
III) qualitative and quantitative information about any assets recognised from the costs to obtain or fulfil a contract with a customer
IV) the opening and closing balances of receivables, contract assets and contract liabilities from contracts with customers, if not otherwise separately presented or disclosed

• A) I and II only
• B) II, III and IV only
• C) I, II and III only
• D) I, II, III and IV

Assess the portfolio manager's forecasting ability using the Sharpe measure and tracking error.

Distinguish between passive and active portfolio management strategies.

Recognize the importance of adjusting alpha forecasts for forecast imprecision in portfolio construction.

Understand the application and impact of regression analysis and other tools in forecast adjustment.

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Definitions:

Unclassified Balance Sheet

A balance sheet that presents assets and liabilities in a lump sum, without dividing them into classifications or categories.

Net Income

The amount of money a company earns after deducting all its expenses, taxes, and costs from its total revenue.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary to permanent accounts and prepare the company's books for the next period.

Closing Process

The closing process involves the steps taken to finalize all accounting records and summarize financial activities for a specific period, preparing for the next accounting cycle.