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Alenkinab [10]
3 years ago
8

Masterlink Co., in applying the lower of cost or market method, reports its inventory at net realizable value. Which of the foll

owing statements is correct? Question 3 options: A) Cost is greater than net realizable value. B) NRV is greater than replacement cost. C) Cost is less than NRV minus a normal profit margin. D) Cost is less than net realizable value.
Business
1 answer:
nasty-shy [4]3 years ago
4 0

Answer:A. Cost is greater than net realisable value(NRV)

Explanation:

An inventory should not be higher than the price its sale or use and this requires the comparison of inventory cost to it's ( NRV) and whichever is lower will be used as cost of inventory

NRV= Sales price less cost to completion and less estimated cost necessary to make the sales.

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<span>An effective team would never have only one person do the work.

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3 0
4 years ago
Justin, a real estate salesperson with City Brokerage, received a referral fee after referring a client to Mark, another real es
Ganezh [65]

Answer: Justin's sponsoring broker

Explanation:

From the question, we are informed that Justin, a real estate salesperson with City Brokerage, received a referral fee when he refered a client to Mark, who is another real estate salesperson with City Brokerage.

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8 0
4 years ago
Mr. Wiley owns a couple of houses. He lives in the better one. The other house he rents to the Jones family for $20,000 per year
BARSIC [14]

Answer:

20,000

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4 0
3 years ago
Cowboy Development incurred the following costs associated with the purchase of a piece of land that it will use to re-build an
Vesna [10]

Answer:

The amount should be recorded for the purchase of the land is $417500.

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Therefore, The amount should be recorded for the purchase of the land is $417500.

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