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saveliy_v [14]
4 years ago
11

Explain what lower of cost or market means in regards to reporting merchandise inventory on the balance sheet.

Business
1 answer:
Degger [83]4 years ago
4 0

Answer and Explanation:

Inventory is an asset and is posted on the asset side of the balance sheet. As per accounting standards regarding inventory valuation, it can be either valued at historical cost or at market price, whichever is lower.

Historical cost is the cost at which asset was acquired. Market price is the price which would be received if the asset is replaced as on the date on which balance sheet is prepared. Inventory is valued at lower of the above mentioned costs.

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Considering contributing $1,000 to their church. This contribution will bring their total itemized deductions to $2,000. Assumin
mafiozo [28]

Answer:

b. $150

Explanation:

Standard deduction refers to deduction available to an individual at a flat rate say 30%.Whereas in itemized deductions, an individual can claim deductions at different rates on different items.

Usually itemized deductions are more beneficial to an individual and in case tax saving in these cases exceeds total standard deductions, itemized deductions should be preferred.

In the given case, contribution of $1000 to church shall amount to a deduction. Since the tax rate applicable to the individual is 15%, the savings in tax shall amount to 15% of $1000 i.e $150.

4 0
3 years ago
The shift of population from rural to urban areas in countries such as india helps global marketers by
Vedmedyk [2.9K]

Answer:

Letter b is correct.<u> Simplifying the supply chain needed to make goods and services available.</u>

Explanation:

India is the second most populous country in the world, and its economy has grown significantly, there is an increase in the industrial segment and foreign investment in the country, which is increasingly growing due to the large amount of cheap labor available and the country's large consumer market.

Therefore, when the population changes from rural to urban areas, global traders present in India benefit from the greater ease of simplifying the supply chain necessary to provide goods and services organized with automation and an integrated logistics for products to reach the consumer in place and at the right time.

5 0
3 years ago
Indi and Indrani are sisters who own a software development company. Demand has been increasing for their products and services
Alexandra [31]

Answer:

open an new office because the expected marginal benefit ($12.5 million over 5 years) is greater than the estimated marginal cost ($7 million)

Explanation:

The computation is shown below;

Given that

Total marginal benefit = 12.5 million

And, the Total marginal cost = 7 million

Based on the above information

We can see that the new office should be opened as the marginal benefit would be more than the marginal cost

Therefore the first option is correct

And, the rest of the options would be incorrect

4 0
3 years ago
Match the terms to their definitions.
Irina-Kira [14]

The question requires matching the terms to their definitions.

  • <u>Hiring</u> is the process of employing (someone) for wages.

  • <u>Recruitment</u> is the process of finding new people to join an organization.

  • <u>Job Description</u> informs applicants about the responsibilities and required qualification.

  • <u>Recruitment Plan</u> is the process of integrating a new employee into an organization, maps out the strategy for attracting skilled employees and obtaining applications from a diverse workforce.

  • <u>Offer</u> is a proposal put forward by an employer to a prospective employee.

  • <u>References</u> serve the purpose of gathering information about a prospective employee from previous employers.

  • <u>Types of Recruitment</u>: internal (employees within the company) and external (people outside the company).

  • <u>Compensation</u> the money the employee will receive as a salary or wages.

  • <u>Interview</u> a face to face meeting between an employer and a job applicant.

Read more:

brainly.com/question/17850173

8 0
3 years ago
Purpose: The purpose of this assignment is to give you the chance to demonstrate the extent to which you have the ability to und
Solnce55 [7]

I CAN'T ANSWER IT

Explanation:

SORRY I HAVE NO IDEA

4 0
3 years ago
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