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lions [1.4K]
1 year ago
8

The lower of cost or market approach is Blank______ for companies that use Blank______. Multiple choice question. required under

GAAP; LIFO or the retail inventory optional under GAAP; LIFO or the retail inventory optional under GAAP; any method of inventory valuation
Business
1 answer:
LenaWriter [7]1 year ago
7 0

The lower cost or market approach is (C) required under GAAP for companies that use  LIFO or retail inventory.

<h3>What is market approach?</h3>
  • The market approach is a method of evaluating an asset's worth based on the selling price of comparable assets.
  • Along with the cost technique and discounted cash-flow analysis, it is one of three main valuation methodologies (DCF).
  • Companies that use LIFO or retail inventory are obligated by GAAP to use the lower cost or market method.
  • A realtor, for example, can gather information on comparable real estate sales in close vicinity to a client's property and modify those values to account for differences in land area and building square footage to arrive at a market-based valuation for the targeted property.

Therefore, the lower cost or market approach is (C) required under GAAP for companies that use  LIFO or retail inventory.

Know more about the market approach here:

brainly.com/question/8084221

#SPJ4

The complete question is given below:

The lower cost or market approach is _____ for companies that use _____.

a. optional under GAAP; LIFO or the retail inventory

b. optional under GAAP; any method of inventory valuation

c. required under GAAP; LIFO or the retail inventory

d. required under GAAP; any method of inventory valuation

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C) $120,000

Explanation:

Since Copper corporation owns 65% of Bronze Corporation, its dividends received deduction (DRD) is 80% of the dividends received.

  • stake at another corporation is less than 20%, DRD = 70%
  • stake at another corporation is between 20% to 80%, DRD = 80% (Copper's case)
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Therefore, if Copper received $150,000 in dividends from Bronze, it can deduct 80% of that amount = 80% x $150,000 = $120,000

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Why aren‘t magazine photos a good representation ofwhat a healthy person looks like?
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The liabilities of Berber Company are $120,000 and the owner's equity is $230,000. What is the amount of Berber Company's total
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