Answer:
The answer to this question is True.
Explanation:
The one and only responsibility of the management towards financial reporting involves presenting the financial statements that were prepared by the them that is in accordance to the financial reporting framework that is applicable.
Hence the answer to this question is True.
Answer: Option (C) is correct.
Explanation:
The Heckscher-Ohlin theory is based on the cause of comparative advantage and explains that it is the difference in the factor endowments among the countries that is the main cause of international trade.
Heckscher-Ohlin theory says that a country exports the commodity whose production requires the intensive use of nation's relatively abundant and cheap factor and a country imports the commodity whose production requires intensive use of nation's relatively scarce and expensive factor.
Answer:
$10,140,000
Explanation:
To make consolidated statements company needs to consolidate the financial data of its own and its subsidiary.
Revenue can be consolidated of parent and subsidiary as follow:
First
Add revenue of both companies
Total Sales = Patti Company sales + Shannon Inc. sales
Total Sales = $10,000,000 + $200,000 = $10,200,000
Now deduct the sale made to each other because sales mad within the group is not recorded for consolidation purposes and it is not a sale for a group it is an internal group transfer.
Consolidated Sales = Total sales - Internal Sales
Consolidated Sales = $10,200,000 - $60,000 = $10,140,000
Answer:
Reorder point
Explanation:
A company or organization making use of fixed-order quantity model which is a model where the REORDER POINT has been fixed and has already been set automatic in which once it reach the minimum inventory level it will remind the company that inventory level has reach the limit for the company to restore the stock inventory or order more product, which is why this inventory level is called the REORDER POINT.
Therefore REORDER POINT can be defined as the point which serve as a reminder that the stock inventory level has dropped to the minimum reorder level and need to be replaced or reorder.
