1) Is it important to maintain separate accounts for a partners outstanding loan and
capital ac-counts? Explain why or why not.
2) Why are budgeted revenues and expenditures formally recorded in the records of the
general fund but not in the records of a capital projects fund?
3) When must a firm present segmental disclosures for major customers? What is the
reason for this requirement?
4) What do potential voting rights refer to, and how do they affect the application of the
equity method for investments under IFRS? Under U.S.GAAP? What is the term
generally used for equity method investments under IFRS?
5) Under the current rate method, how are assets and liabilities that are stated in a
foreign currency translated?
6) What is the objective of the procedures used for the preparation of an advance cash
distribution plan?