Answer:
The answer is stated below:
Explanation:
Functional currency is the one which states the primary and foremost economic environment in which the entity generate cash as well as expends cash.
It is used by the business units or the business as a monetary unit of account.
For determining or evaluating the functional currency, a hyper inflationary economy is one which experience a combined inflation of 100% or more over the past three years.
Inflation is 35% every year over the last 3 years which is a combined 105% and constitutes to a economy which is highly inflationary.
I would definitely be weary. If you can't answer if they're valid on your own, it's probably not!
The amount of loss that should be recognized is the <u>minimum amount </u><u>of the </u><u>range. </u>
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<h3>Recording a Contingent liability </h3>
- It should only be recorded if the loss is probable and the amount to be incurred as liability can be reasonably estimated.
- If neither of the above are possible, the loss would be recorded as a footnote.
US GAAP rules state however that if the loss is probable and the amount is in a range, the amount to be recorded as a contingent liability should be the minimum of the range.
In conclusion, they should recognize the minimum amount.
Find out more on contingent liabilities at brainly.com/question/17371330.
Answer:
The definition becomes outlined throughout the clarification subsection according to the particular circumstance.
Explanation:
- I gained a lot of knowledge mostly during courses on how computer networks work. So what were the fundamental things that drive methodologies? Everything just feels nice because according to a certain design, we were also tasked with making our same algorithms, especially considering that the running time would be much less.
- I want the assignment to concentrate a little bit on professionals so that we can understand how well these algorithms work in practice experiences.
