Answer:
NEUTRALITY, COMPLETENESS AND FREE FROM ERRORS.
Explanation: IASB( International accounting standards board) is board regulating the preparation of accounting Reports or statements. It released its first framework called CONCEPTUAL FRAMEWORK in the year 1989.
The qualities of a faithful conceptual framework by IASB is to guarantee NEUTRALITY, COMPLETENESS AND ENSURE THAT THE STATEMENT IS FREE FROM ERRORS.
This framework will help to prevent disputes and manage standards in preparation of account statements.
Answer:
"$224,000" is the correct solution.
Explanation:
The given values are:
Corporation purchased percentage,
= 25%
Original investment,
= $210,000
Short's net income,
= $80,000
Paid cash dividend,
= $24,000
Now,
The share of net income will be:
= 
= 
=
($)
The cash dividend will be:
= 
= 
=
($)
hence,
On December 31, 2021, the balance will be:
= 
= 
= 
=
($)
When goods are produced at the lowest possible cost an economy is said to have achieved?
Answer: production efficiency