Question
A company refinances a short-term loan (due in 4 months)
after the balance sheet date but before the financial statements are authorised. Management argues it should classify the loan as non-current since refinancing is completed. How should this be treated?Solution
Classification is based on rights in existence at the reporting date. Since refinancing was not completed by year-end, the liability remains current, even if refinancing is arranged afterward.
Direction: Identify the sentence in which the given phrasal verb is used CORRECTLY.
Bring up
A. The viral video of the skateboarder's in...
The express train unexpectedly called out the station near my office, so I was early today.
Phrasal verbs are highlighted in bold in the below-given sentences. Mark the option that best describes its meaning.
The team was able to pull ...
Find the correct meaning of highlighted word/phrase.
I see him once in a blue moon.
Directions: Sentences are given below with phrasal verbs highlighted in bold that may be grammatically or contextually wrong. Find the correct answer f...
They all contributed to get Ajay a birthday present.
I. There is no absolute speed limit on most of the Tideway downstream of Wandsworth Bridge.
II. Boats are not allowed to create undue wash.
The woman look in me searchingly.
I. It is the most efficient method ever.
II. It is still highly inefficient, and this inefficiency inspires hope.
(a) Despite
In each of the following sentences a word or phrase is bold and given a number. Pick a choice of number where the error lies.
1) The manager, 2)...
