1.【Answer】D。
A receivable from a customer which has been sold (factored) to a finance company. The finance company has full recourse to the company for any losses.
The receivable has been factored with recourse so should continue to be recognised as an asset. The other options do not meet the criteria to be recognised as an asset.
2.【Answer】D。
Applying an entity's current accounting policy to a transaction which an entity has not engaged in before.
As the transaction has not been engaged in before, comparability is not an issue.
