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alekssr [168]
3 years ago
7

A firm has decided to use the fair value option to record the value of a long-term liability. if the fair value of the liability

decreases, how should the firm respond?
Business
1 answer:
emmainna [20.7K]3 years ago
8 0
A fair value option is the alternative  for a business to record its financial instruments at the fair values. Liabilities are company's financial debts or obligations that arise in the course of business operations. They may be long term or short term. In this case, if the fair value of the liability decreases, the firm should respond by crediting the unrealized Holding Gain/loss in the income account.
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Andrew [12]

Answer:

Explanation:

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6 0
3 years ago
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Marrrta [24]

Answer:

Johan Co.

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5 0
3 years ago
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Shalnov [3]

Answer:

a. True

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8 0
3 years ago
the gross sales for store B were 876500. the custmer returns and allowances were 10%. what was the dollar amount of returns and
Marina CMI [18]

Answer:

$87,650

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By multiplying the gross sales with the customer returns and allowances percentage we can get the dollar amount with respect to the returns and allowances and the same is to be considered

7 0
3 years ago
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Answer: $25,000

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= $25,000

3 0
3 years ago
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