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2 years ago

when valuing raw materials inventory at lower-of-cost-or-market, what is the meaning of the term market

1 answer:

7 0

when valuing raw materials inventory at lower-of-cost-or-market, what is the meaning of the term market Replacement cost, Net realizable value, or Net realizable value less a normal profit margin.

<h3>What is Replacement cost?</h3>

The cost to replace a critical asset, such as a piece of real estate, an investment security, a lien, or another object, with one of equal or greater worth is referred to as replacement cost.
A replacement cost, which is often referred to as "replacement value," can change depending on a variety of variables, including the cost of preparing assets for use and the market worth of the parts needed to rebuild or repurchase the asset.
Replacement costs are frequently used by insurance companies to calculate the value of an insured item. Accountants, who use depreciation to expense the cost of an asset over its useful life, also regularly employ replacement costs.

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Mike is walking through a parking lot and finds Kathy lying unconscious. He puts her in his car and takes her to the hospital. T

slava [35]

Answer:

The answer to this question is c. Kathy has to pay based on a quasi contract.

Explanation:

Based on the scenario displayed above Kathy has to pay based on a quasi contract.

A Quasi contract is a contract that is created by a court order, not by an agreement made by the parties to the contract. For example, quasi contracts are created by the court when no official agreement exists between the parties, in disputes over payments for goods or services

In this case there has not been an official agreement between Kathy and the hospital, However she has to pay the bill presented to her based on Quasi contract which is created to prevent an individual to be unjustly enriched or from benefiting from the situation when he/she does not deserve to do so.

Hence the answer is c. Kathy has to pay based on a quasi contract.

5 0

3 years ago

When a bond contract rate is less than the current market rate on the date of issuance, the bond will be sold at a(n)?

nekit [7.7K]

When a bond contract rate is less than the current market rate on the date of issuance, the bond will be sold at Discount

Discount = Contract rate is less than the market rate.

What is meaning of discount and its types?

When a reduction in the amount is allowed in order to encourage more purchase or to have an on time payment is referred to as discount. Discount are classified as: Trade discount: The discount which is allowed when purchases are made in large quantity is known as trade discount.

Contract rate:

The contract rate; also called the coupon rate, stated rate, or nominal rate; is the interest percentage listed on the face of a note or bond. In other words, this is the interest rate that will be paid on the principle balance for the life of the note or bond.

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7 0

1 year ago

Marvin Gaye's song "Gotta Give It Up" was protected by ___________ .

monitta

Answer:

d. not selected option d copyright

6 0

3 years ago

Read 2 more answers

A firm expects to sell 25,500 units of its product at $16 per unit. pretax income is predicted to be $60,500. if the variable co

aksik [14]

A firm expects to sell 25,500 units of its product at $16 per unit. pretax income is predicted to be $60,500. If variable costs are $8 per unit, total fixed costs must be $143,500.

Fixed costs are costs that stay constant no matter changes in production volume, implying that irrespective of whether output rises or decreases, total fixed costs remain constant within the relevant range.

Rent, labor, depreciation, insurance, and other fixed costs per unit fluctuate over the relevant range, on the contrary.

Given,

Selling price = $16

Variable cost per unit = $8

Units sold = 25,500

Pretax income = $60,500

$Contribution Margin = (Selling Price Per Unit - Variable Cost Per Unit) * Units Sold$

Substituting the provided information into the above calculation yields,

Contribution margin = $($16 - $8) * 25,500 units$

= $204,000

Formula:

$Pretax Income = Contribution Margin - Fixed Costs$

This symbolizes,

$Fixed Costs = Contribution Margin - Pretax Income$

Substituting the provided information into the above calculation yields,

$Fixed Costs = $204,000 - $60,500$

= $143,500

Hence, the answer is $143,500.

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6 0

2 years ago

In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decr

Monica [59]

In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decrease in auto sales impacts GDP because new automobiles are counted as <u>consumption </u>when purchased by households and <u>investment</u> when purchased by businesses.

Gross domestic product (GDP) is the overall monetary or market value of all of the goods and services produced within a country's borders in a particular time period.

GDP can be calculated by adding up all of the money spent by consumers, businesses, and the government in a given period. It may also be calculated by adding up all of the money received by all the participants in the economy.

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3 0

1 year ago