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Wittaler [7]
3 years ago
10

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

Business
1 answer:
gulaghasi [49]3 years ago
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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In preparing its cash flow statement for the year ended December 31, 2021, Rorschach Co. gathered the following data: Gain on sa
Snowcat [4.5K]

Answer:

($340,000)

Explanation:

The computation of the net cash outflows from investing activities is shown below:

Cash flows from investing activities:  

Cash from proceeds of sale of land $20,00

Purchase of Bond investments ($360,000)

Net Cash Outflows from investing activities ($340,000)

The positive sign shows the inflow of cash and the negative sign shows the outflow of cash and the same is considered in the above computation part

6 0
3 years ago
Determine which of the following statements are correct regarding damaged or obsolete goods. (Check all that apply.) Damaged goo
Margarita [4]

Answer:

Explanation: Damaged goods are goods that do not meet up to the required standards of items to be sold and below are ways damaged goods are treated in the books:

1. Damaged goods are included in inventory at their net realizable value.

2. If damaged goods can be sold at a reduced price, they are included in inventory.

3.Damaged goods are not included in inventory if they cannot be sold

4. A loss in value is reported in the period when goods are damaged or become obsolete.

7 0
3 years ago
Read 2 more answers
Which of the following is not classified as R&D?Design of tools involving new technology.Evaluation of process alternatives.
Hatshy [7]

Answer:

idk but imma take these points mah boy bless up

Explanation:

4 0
3 years ago
If people lost confidence in the government which money would have the least value flat money representative money commodity mon
Crank
I Think Answer Is Gold Standard
8 0
3 years ago
Read 2 more answers
Suppose you just won the state lottery, and you have a choice between receiving $3,025,000 today or a 20-year annuity of $250,00
Georgia [21]

Answer:

r = 5.35%

Explanation:

Given:

  • n = 20
  • PV = -$3,025,000 (the amount you should have if you receive a lump-sum today)
  • PMT = $250,000

To find the rate of return that built into the annuity, we can use Excel with following information of the function:

=rate(nper, pmt, -PV)

<=> rate (20,250000, -3025000 )

<=> r = 5.35%

Hope it will find you well.

8 0
3 years ago
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