Answer:
E. January 1, 2017
Explanation:
Financial statements are prepared showing at least two years for the sake of comparability.
It will be important for the company in presenting its financial statement using the IFRS for the year ended December 31st 2018 to show the financial statements for the year ended 31st December 2017 as if it had always applied the IFRS.
The basic idea is to show in the financial statements the effects of adopting the IFRS from a preceding period in order for the entity to show the financial statement for 2017 and 2018 and be able to compare them having been prepared on the same basis.
Thus, the transition date will be the beginning of the preceding period when the IFRS was applied (1st Jan. 2017 oe 31st Dec. 2016).
I hope this explanation makes the concept easy to grasp.
Thank you.
I believe the answer is: B. <span>You only need to sign a deposit slip when receiving cash.
Deposit slip would be filled with a list of cash and cash equivalent that you give to bank teller to be added to your bank account.
Most bank provide the services which allow you to take small percentage of your deposited check in the form of cash. When doing this, you need to sign it as a form of authorization.</span><span />
Answer:
Coverage D
Explanation:
Coverage D basically refers to insuring against the loss of use of your house, i.e. you cannot live in your house temporarily. Coverage D will provide for additional living expenses to the insured in order to cover lodging expenses while the insured property is being repaired and can be used again.
This is called a "Sponsorship"
