Question

How are other non-current assets classified?

a.

Only as long-term trade receivables.

b.

Only as other assets with a specified nature.

c.

Both as long-term trade receivables and other assets with a specified nature.

d.

As long-term trade receivables, long-term trade payables, and other assets with a specified nature.

Posted under IC 89 Management Accounting

Answer: (c).Both as long-term trade receivables and other assets with a specified nature. Explanation:Other non-current assets are classified as long-term trade receivables (including trade receivables on deferred credit terms) and other assets with a specified nature.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How are other non-current assets classified?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How should long-term trade receivables be sub-classified?

View solution

Q. What information should be disclosed regarding current investments?

View solution

Q. How are current investments classified?

View solution

Q. How should inventories be classified?

View solution

Q. How should goods-in-transit be disclosed in inventories?

View solution

Q. What should be stated regarding the mode of valuation of inventories?

View solution

Q. How should trade receivables be classified?

View solution

Q. What should be separately stated regarding cash and cash equivalents?

View solution

Q. How are short-term loans and advances classified?

View solution

Q. What should be disclosed regarding other current assets?

View solution

Q. How are contingent liabilities classified?

View solution

Q. What should be disclosed regarding dividends?

View solution

Q. In the notes to the financial statements, how should revenue from operations be disclosed for a company other than a finance company?

View solution

Q. How should revenue from operations be disclosed for a finance company in the notes to the financial statements?

View solution

Q. How should finance costs be disclosed in the statement of profit and loss?

View solution

Q. How is other income classified in the statement of profit and loss?

View solution

Q. How should net gain or loss on foreign currency transaction and translation be treated in the financial statements?

View solution

Q. What should be disclosed regarding payments to auditors in the financial statements?

View solution

Q. How should details of items of exceptional and extraordinary nature be disclosed?

View solution

Q. How are amounts set aside or proposed to be set aside to reserves treated in the financial statements?

View solution
View All MCQs on IC 89 Management Accounting

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Chemistry

Unlock the mysteries of chemistry with our Chemistry category. Delve into the...

Sociology

Gain insights into human behavior and society with our Sociology category. Explore...

Human and Cultural Diversity

Explore the rich tapestry of human societies with our Human and Cultural Diversity...

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...

Professional Communication

Hone your communication skills with our Professional Communication category. Enhance...

Waste Water Engineering

Navigate the challenges of wastewater treatment and management with our Waste Water...

IC85 Reinsurance Management

Gear up for success in the Insurance Institute of India (III) examination with IC85...

Data Interpretation

Master the art of data analysis and interpretation with our Data Interpretation...