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weeeeeb [17]
1 year ago
8

Does the sec require the entity to disclose in the current reporting period the future effect that the accounting change is expe

cted to have on the entity's financial statemtns?
Business
1 answer:
nevsk [136]1 year ago
7 0

Estimates of SEC made every period in the normal course of accounting for things like uncollectible accounts or inventory obsolescence do not need disclosure of such effects; nevertheless, disclosure is necessary if the impact of a change in the estimate is significant.

<h3>What is SEC?</h3>

After the 1929 Wall Street Crash, the U.S. Securities and Exchange Commission (SEC) was established as an independent agency of the federal government of the United States. The SEC's main goal is to uphold the law against market manipulation.

The Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002, and other laws are enforced by the SEC in addition to the Securities Exchange Act of 1934, which established it. Section 4 of the Securities Exchange Act of 1934, also known as the Exchange Act or the 1934 Act and currently codified at 15 U.S.C. 78d, established the SEC.

To learn more about Securities Act,visit:

brainly.com/question/17329529

#SPJ4

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Andrew had a fire in his house that destroyed his big screen TV. He bought it 2 years ago and, according to the insurance compan
Crazy boy [7]

Answer:

$1,200

Explanation:

Actual Cash Value defined either as i) the fair market value of the item, or ii) the Replacement Cost of the item minus depreciation based upon the age of the item that was damaged.

Replacement cost = $2,000

Depreciation= 3 years remaining of it's life = 3/5 × 100 = 60%

Actual cash value = $2,000 × 60% = $1,200.

8 0
3 years ago
Read 2 more answers
Refer to the accompanying data, which is for a specific year in a hypothetical economy for which Okun's law is applicable. The a
frutty [35]

Answer:

A) $24 billion

Explanation:

Here is the complete question :

Potential Real GDP $200 Billion

Natural Rate of Unemployment- 6 Percent

Actual Rate of Unemployment- 12 Percent

Refer to the accompanying data, which is for a specific year in a hypothetical economy for which Okun's law is applicable. The amount of output being forgone by the economy is

C) $15 billion. D) $18 billion. A) $12 billion. B) $24 billion.

According to Okun's law, a 1% decline in unemployment results in a 2% fall in potential GDP

Decline in unemployment = Actual Rate of Unemployment - Natural Rate of Unemployment

12 - 6 = 6%

decline in output = 6% x 2% = 12%

potential GDP lost = 12% x $200 Billion  = 24 billion

3 0
3 years ago
Kelly is 28 years old and lives in California. This year 2019 tax year, Kelly bought a new auto for $20,000 plus 1,650 in state
Trava [24]

$8260 + $5500= 13,760 State income taxes, but not sales taxes,

7 0
2 years ago
Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to come up with names for
Simora [160]

Answer:

E) brainstorming

Explanation:

Based on the information provided within the question it can be said that you are engaged in brainstorming. This refers to a group creativity technique in which people within the group provide whatever ideas come to mind that may provide a solution to the problem that is being discussed. The best idea is then chosen by the group and implemented. Which is what the advertising agency in this scenario is doing in order to come up with a name for their new Beach Resort.

5 0
3 years ago
In a dealer market, some dealers hold a certain inventory of specific securities and create a liquid market by purchasing and se
UNO [17]

Answer:

Dealers profit comes from the spread primarily. Spread is the differential amount between buying and selling.

Explanation:

Let us assume the price of security X is USD 100 (last trade price)

A dealer will purchase this security at discounted price from the investor say USD 99 and will sell the same security in the market at USD 100, thus earning spread.

Further being market markers, dealers often use multiple strategies to prop up the price of  particular security and earn gains on inventory held.

4 0
3 years ago
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