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luda_lava [24]
3 years ago
10

A business purchases a vehicle for $35,000. Since the vehicle was advertised for $40,000 the company decided to record the asset

at $40,000. This is a violation of which accounting principle?A. RelevanceB. Historical costC. MaterialityD. Recognition
Business
1 answer:
grin007 [14]3 years ago
7 0

Answer: This is a violation of "B. Historical cost" principle.

Explanation: This principle establishes that assets must be registered at the time of purchase at historical cost.

The historical cost of an asset initially arises from its purchase value. To this value are added all the expenses that were necessary to place it in a position to operate or generate income.

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In previous years, Cox Transport reacquired 4 million treasury shares at $22 per share and, later, 2 million treasury shares at
crimeas [40]

Answer:

$8 million

Explanation:

Weighted-average cost = [(4,000,000 × $22) + (2,000,000 × $25)] ÷ (4,000,000 + 2,000,000) = $23

Increase in paid-in capital - share repurchase per share = selling price —Weighted-average cost = $27 - $23 = $4

Amount of increase in paid-in capital—share repurchase = Number of treasury shares × $4 = 2 million × $4 = $8 million

Therefore, Cox’s paid-in capital - share repurchase will increase by $8 million.

3 0
3 years ago
When the Fed buys securities from the public, banks' reserves ________ and the quantity of money ________.
kow [346]

When Fed buys securities from the public, banks' reserves increases and the quantity of money reduces in supply.

<h3>What are Securities?</h3>

Securities simply put are assets that has monetary values like bonds, stocks and they can be traded.

In recent times, people enjoy the digital form of money/securities like cyptocurrencies.

Learn more about Securities here:

brainly.com/question/25720881

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5 0
2 years ago
Why has caricom produced limited improvements in interregional trade??
Kobotan [32]

CARICOM or the <span>Caribbean Community and Common Market solely reason for existence is to promote the economic integration to guarantee the benefits and shared equitably. The mainly cause for CARICOM in producing limited improvements is because majority of the English speaking  country illustrates the division </span><span>deep linguistic in Caribbean </span>

3 0
3 years ago
Careers in the Transportation and Logistics career cluster are
saul85 [17]

Answer:

B)secure industries that are expected to grow.

Explanation:

The other person was right but just accidently said A) instead of B)

Hope this helps! :D

8 0
3 years ago
Hyde's Headphones sells deluxe headphones for $90 each. Unit variable expenses total $70. The breakeven sales in units is 1000 a
crimeas [40]

Answer:

0.7835 or 78.35%

Explanation:

Budgeted Sales = $90 per unit x 4620 units = $415,800

Break-Even Sales (Revenue) = 1000 units x $90 per unit = $90,000 units

Margin of safety = (Budgeted Sales - Break-Even Sales) ÷ Budgeted Sales

Margin of Safety = ($415,800 - $90,000) ÷ $415,800 = 0.7835 or 78.35%

3 0
3 years ago
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