QUESTION: 145

Refer to the exhibit.

ABC issued 200,000 $0.50 equity shares at a price of $1.80. This amount was received in cash

What is the correct journal to record this issue?

A
B
C
D

Answer(s): D

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QUESTION: 146

Which TWO of the following are responsibilities of the IFRS interpretations committee?

Issuing draft interpretations of the standards for public comment
Communicating the views of the wider public on the ongoing projects to the IASB
Taking decisions on finalising an interpretation of the standards
Preparing and publishing the international financial reporting standards

Answer(s): A,C

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Refer to the exhibit.

A business has the following capital and long-term liabilities:

It calculates its gearing ratio as the proportion of debt to total capital.

At the end of the current year, its gearing ratio, compared with that of the previous year, is: