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mina [271]
3 years ago
11

A wholesaler which prepares its financial statements according to International Financial Reporting Standards (IFRS) has the fol

lowing per-unit costs for one of its products: Cost $ 18.00 Net realizable value $ 15.00 Net realizable value less normal profit margin $ 14.40 Current replacement cost $ 14.70 In accordance with IFRS, what is the per-unit carrying value of inventory in the statement of financial positions?
Business
1 answer:
Ghella [55]3 years ago
3 0

Answer:

$15.00

Explanation:

Data provided in the question:

per-unit costs for one of its products = $18.00

Net realizable value = $15.00

Net realizable value less normal profit margin = $14.40

Current replacement cost = $14.70

Now,

Here, we have to find the per-unit carrying value of inventory in the statement of financial positions in accordance with IFRS

According to the IFRS,  inventory should be recorded in financial statements at a value which is lower of the cost and Net Realizable Value

Therefore,

according to the question:

per-unit carrying value of inventory = lower of  [ $18.00, $15.00]

or

per-unit carrying value of inventory = $15.00

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The debt owed by a business is called liabilities. Liabilities are obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like  products, services.

Liabilities on balance sheet's right side are represented by debts like as loans, accounts payable, mortgages, deferred revenue, bonds, warranties etc. Assets can be contrasted with liabilities. Assets are items business own or owe money to, whereas liabilities are debts or other obligations.

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2 years ago
Do you think calling an employee a subordinate will impact their motivation levels?
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Answer:

I believe that referring to the employee as a subordinate can negatively affect the employee's motivation levels.

Explanation:

Although an employee is subordinate to the company owner, or to other high-ranking employees, such as a manager, for example. Referring to the employee as a subordinate can negatively affect the employee's motivation and productivity. This is because this word can pass a tone of devaluation, where the employee can understand that he is not esteemed and necessary within the company. The feeling of irrelevance, can leave the employee saddened and unwilling to do his best work within the institution.

8 0
3 years ago
Jamal worked for a delivery company, and he was driving sometimes up to 10 hours a day. One afternoon, on the way back from maki
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Answer:

Yes, the company is liable because Jamal was on his work route and took a minor detour to pick shirts he needed for work.

Explanation:

Generally what determines if the company is liable or not for a car accident, is if the employee was acting within the scope of his/her normal employment activities. In this case, even though Jamal took a break to pick up some shirts for work, he didn't deviate form his normal activities and not even from his normal work route. He was actually coming back from making a delivery.

It would have been different if he had gone to a different neighborhood or downtown just to pick the shirts. You must also consider that Jamal drives the delivery truck 10 hours a day, and that doesn't leave him a lot of spare time for his own personal activities, and this particular one was also related to his work.

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3 years ago
Professional organizations provide reliable nutrition information. which professional organization is the largest organization o
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3 years ago
Suppose Becky has her choice of $10,000 at the end of each month for life or a single prize of $1.5 million. She is 35 years old
yaroslaw [1]

Answer:

The answer is $3,456,000.

Explanation:

Annuity is a set amount of money that is paid every year for the person's life. She is 35 years old and expected to live to 75. So for $10,000 at the end of each month, the annuity is, 40 x 12 = 480 months, 480 months  x $10,000 = $4,800,000. If we take the $10,000 as the principal amount, and calculate the interest at 7,2% monthly, in 40 years it would be $3,456,000.

I hope this answer helps.

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