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3 years ago

The FASB and IASB are attempting to resolve the differences between U.S. GAAP and IFRS using a process known as

1 answer:

8 0

The answer for this question is: Convergence
Convergence is a form of action that will transform a certain difference between two parties into one uniformity.
This step is really important so the accountant that operates all around the world will have the same standard to conduct in handling their financial operations.

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NeNe is an accountant and a U.S. citizen who has accepted a permanent position in Madrid, Spain, for a Spanish financial service

s2008m [1.1K]

Question options:

a) NeNe can exclude all of the housing payment because she worked more than 330 days overseas

b) 16,128

c) 23,872

d) 14,112

e) None of her salary can be excluded from gross income

Answer:

a) NeNe can exclude all of the housing payment because she worked more than 330 days overseas

Explanation:

US citizens working and living abroad would still have to remit taxes to the US, albeit with exclusions.

Under US tax law, IRS states that US citizens may deduct/exclude the value of meal and lodging expenses granted to them by the employer. Under the foreign housing exclusion, Nene qualifies for the benefits of housing exclusion because she has a foreign earned income and has lived at least 330 days within a period of 12 consecutive months in the foreign country.

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3 years ago

Suppose the following transactions occur during the current year:

Genrish500 [490]

Answer:These transactions combines will increase the Gross Domestic Products by +2500

Explanation:

Gross domestic product is the Value of all goods and service produced within the boarders of the country over a period of time. Gross domestic product is measured in monetary terms. Gross domestic product can also be calculated as a total of all expenditures on goods and services in the economy.

we will now sow how these Transactions affect the gross domestic product

1. 50 cases of beer from a dutch distributor at $40 per case

When Dmitri (assuming he is in the United States) Purchases a 50 cases of beer abroad, Imports increase by $2000 ($40 x 50 cases)

Imports have a negative impact on the Gross domestic product, Therefore the Gross domestic product will decrease by $2000

-$2000 imports = -2000 Gross Domestic Product. ceteris pa

2.US Company sells 200 Transistors to a Spanish company at $15 per case

Exports increase Gross domestic product. When a US Company sells 200 transistors to a Spanish Company at a price of $15 per transistor, Exports will increase by $3000. When export increase Gross domestic product will also increase by -$3000 ceteris par

+$3000 export = + 3000 Gross Domestic Product.

3. Jake US Citizen pays $1500 for a laptop he orders from microell (a US company)

This transaction will increase Consumer's domestic consumption which is represent by a Variable denoted by C in the Consumption equation. When Jake pays $1500, Consumption increases by $1500 which also increases Gross domestic Product by $1500 ceteris pa

+$1500 Consumption = + $1500 Gross domestic product

Combined effect of these Transactions

Consumption + Investment + government spending + (export - import)= GDP

+$1500 + 0 + 0 + 0 + ($3000 - $2000) = + $2500

These transactions combines will increase the Gross Domestic Products by +2500

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4 years ago

Read 2 more answers

Pilar uses a unique product number for each product in her inventory. she makes the product number ____.

8090 [49]

Based on the question, Pilar was creating a database for her business.
The choices are: a. a table b. the primary key c. a database d. a record

I believe the answer is b. the primary key.

<span>A primary key is a known as a unique record used in creating a license number or a telephone number. This is used in a relational database where there is only one primary key used as </span>

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3 years ago

the difference between the actual quanity and the standard quanity, multiplied by the standard price is the

dalvyx [7]

Answer: Direct materials quantity variance.

Explanation:

Direct Material quantity variance is the difference between the actual quantity of materials used in production and the standard quantity that was supposed to be used, multiplied by the standard price of the material.

It is a method that checks the company's efficiency is being able to use raw materials to produce goods. If the Actual quantity needed is greater than the Standard quantity, this will be considered an Unfavorable Variance and mean that the company was not efficient in using the materials.

Causes of this can be low quality of materials and inadequate employee training.

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3 years ago

The skillful supply chain manager declared she would not only disaggregate cycle inventory, but she would also aggregate safety

Elena-2011 [213]

Answer:

a. high value and high demand.

Explanation:

Since the skillful supply chain manager declared she would not only disaggregate cycle inventory, but she would also aggregate safety inventory and use an inexpensive mode of transportation for replenishing cycle inventory and fast mode when using safety inventory for her product that had high value and high demand.

Generally, when dealing with the transportation of goods that has high value and high demand, it is necessary and important that manufacturers or suppliers use the fast mode in order to meet up with their consumer's increasing demand. Simply stated, an increase in the demand for goods and services should be met with an increased supply, so as to reach equilibrium.

For the safety inventory, which are extra level of goods carried for the purpose of mitigating consumer demand that exceeds the amount forecasted by the manufacturer or supplier in a given period of time.

She decided, she would use a fast mode of transportation for safety inventory of goods with high value and high demand.

The replenishing cycle inventory involves the process of restocking or resupplying a retailer and distributor, when they place a replenishment order.

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3 years ago