Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on june 1, 2020, a cheque in the amount of $6,000

On June 1, 2020, a cheque in the amount of $6,000 was issued for a...

80.2K

Verified Solution

Question

Accounting

On June 1, 2020, a cheque in the amount of $6,000 was issued for a two-year subscription to online advertising starting from June 1, 2020. The entire amount of $6,000 was debited to advertising expense on June 1, 2020.

Instructions: Based on IFRS framework, explain TWO fundamental characteristics and ONE enhancing characteristic that will not help meet the users' information needs.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What Matt Johnson delivers newspapers and is putting away $35 at the end of each quarter...

Finance
Q

Analyse the components of a firm’s value chain, support your answer with reference to an organisational...

General Management
Q

When a bacterial cell is placed in a solution with higher solvent concentration and low...

Biology
Q

3 Two equal resistances when connected in series to a battery consume electric power of...

Physics
Q

93 A non conducting spherical ball of radius R contains a spherically symmetric charge with...

Physics
Q

A buoy floating in the sea is bobbing in simple harmonic motion with amplitude 12...

Basic Math
Q

In a study of memory recall 8 students from a large psychology class were selected...

Statistics
Q

If an option is described as 'in-the-money', what does that mean? The holder of the...

Accounting
Q

Tell how the financial statements would change because of the transaction. Be specific about how...

Accounting
Q

Paris Electric sold $3,000,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated...

Accounting
Q

Discuss some of the major reasons why companies prepare budgets

Accounting
Q

Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces, has an exclusive franchise on...

Accounting