Answer:
1. Reporting most changes in accounting principle.
FASB ACS 250-10-45-5.
Title - "Accounting changes and Error corrections - Overall - Other presentation matters - Change in Accounting principle"
2) Disclosure requirements for a change in accounting principle:
FASB ACS 250-10-50-1 :
Title - "Accounting changes and Error corrections - Overall - Disclosure - Change in accounting principle"
3) Illustration of the application of a retrospective change in the method of accounting for Inventory :
FASB ACS 250-10-55-3
Titles - "Accounting changes and Error corrections - Overall - Implementation guidance and Illustrations -Retrospective application of a change in Accounting principle."
Answer:
increase short-run aggregate supply.
Explanation:
Given that energy is an important part of the production process. It is often considered to be the next in line after labor, thereby having a significant effect on the economy's aggregate supply of real production.
Hence, a decrease in energy prices will decrease the production cost and in turn lead to an increase in short-run aggregate supply, thereby making the SRAS curve shift rightward.
This is because a decrease in energy prices will make it possible for companies to increase their supply of real production at a cheaper cost
Answer:
Interest payment on bonds payable is a cash outflow from financing activities.
Explanation:
The only statement which is false from the list is : Interest payment on bonds payable is a cash outflow from financing activities.
Interest payment on bonds payable is an expense in the income statement used to determine the income for the year. Net Income falls under the Cash flows from Operating Activities.
The line on a production possibilities curve that shows the amounts of goods produced is called production possibilities frontier.
