Definition – NBC Institute

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

Question

Which of the following is NOT correct about the definition of assets?

A. Resources which an entity must control
B. Resources which an entity must own
C. Resources which are expected to bring future benefits to an entity
D. Resources that their costs can be reliably measured
E. Resources for which liabilities arise from past events

Answer

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Tags: Assets, Definition, Elements, Financial Statements
Level: Level 1

Topic: Elements of Financial Statements
Series: MAY 2021

BCL – May 2017 – L1 – Q7c – Negotiable Instruments

Define a bill of exchange under the relevant legal act.

Question

c) Define Bill of Exchange under the Bills of Exchange Act, 1961 ACT 55. (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bill of Exchange, Definition, Legal Framework, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2017

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

Question

Which of the following is NOT correct about the definition of assets?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Assets, Definition, Elements, Financial Statements
Level: Level 1

Topic: Elements of Financial Statements
Series: MAY 2021

BCL – May 2017 – L1 – Q7c – Negotiable Instruments

Define a bill of exchange under the relevant legal act.

Question

c) Define Bill of Exchange under the Bills of Exchange Act, 1961 ACT 55. (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bill of Exchange, Definition, Legal Framework, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2017

Question Tag: Definition

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FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

BCL – May 2017 – L1 – Q7c – Negotiable Instruments

Define a bill of exchange under the relevant legal act.

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

BCL – May 2017 – L1 – Q7c – Negotiable Instruments

Define a bill of exchange under the relevant legal act.

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Question Tag: Definition

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FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

You're reporting an error for "FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements"

BCL – May 2017 – L1 – Q7c – Negotiable Instruments

Define a bill of exchange under the relevant legal act.

You're reporting an error for "BCL – May 2017 – L1 – Q7c – Negotiable Instruments"

FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements

Tests knowledge on the correct definition of assets.

You're reporting an error for "FA – May 2021 – L1 – SA – Q1 – Elements of Financial Statements"

BCL – May 2017 – L1 – Q7c – Negotiable Instruments

Define a bill of exchange under the relevant legal act.

You're reporting an error for "BCL – May 2017 – L1 – Q7c – Negotiable Instruments"

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