A major difference between IFRS and GAAP relates to the A Revaluation Surplus Account.
A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.
This reserve is only used when the organization prepares its financial statements in accordance with International Financial Reporting Standards. No revaluation reserve is allowed for companies using generally accepted accounting principles.
A revaluation reserve is an equity account that stores changes in the value of fixed assets. If the revalued assets are subsequently disposed of by the company, the remaining revaluation reserve is credited to the company's retained earnings account.
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A government is issuing a permit to pollute when its establishes a marketable permit program to address environmental pollution.
<h3>What is a marketable permit program?</h3>
This refers to a a program in which a city / state government issues permits allowing only a certain quantity of pollution such as water, noise, air pollution into the environment.
In other times, the permits to pollute can be sold or given to firms free and the pollution charge can also be a tax imposed on the quantity of pollution that a firm emits.
Hence, the government is issuing a permit to pollute when its establishes a marketable permit program to address environmental pollution.
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Answer: The correct answer is "b) extinction punishment".
Explanation: This scenario typically illustrates the reinforcement contingency of <u>extinction punishment.</u>
<u>Because the company in deciding not to reward managers this time, is extinguishing the benefit they had, in the form of punishment for the poor performance of the company.</u>
<span>Theresa drank 5 ounces of wine which is equal with one standard drink.
</span>The standard drink is defined as: 5 ounces of table wine, 12 ounces of beer, 1.5 ounces of distilled spirits (e.g., vodka, whiskey), 8-9 ounces of malt liquors or 3.3 ounces of champagne. Standard drinks are introduced in order to measure and define <span>Alcohol By Volume (ABV).
So, the amount of wine Theresa drank (5 ounces of wine) has about as much alcohol as the amount that is in </span><span>12 ounces of beer, or 1.5 ounces of distilled spirits (e.g., vodka, whiskey), or 8-9 ounces of malt liquors or 3.3 ounces of champagne. </span>
Answer:
1. $1,821.76
2. 7.87%
Explanation:
We use the PMT formula that is shown in the attachment below:
Provided that
Present value = $75,200
Future value = $0
Rate of interest = 7.6% ÷ 2 = 0.6333333%
NPER = 48 months
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payment is $1,821.76
2. Now the effective annual rate is
= (1 + APR ÷ number of months)^number of months - 1
= (1 + 7.6% ÷ 12)^12 - 1
= 7.87%