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3 years ago

Which of the following is not a condition that must be satisfied before interest capitalization can begin on a qualifying asset?

Business

1 answer:

Katena32 [7]3 years ago

3 0

Answer:

The answer is D.

Explanation:

Cost of an asset includes the purchase price and other cost that are necessary to get the asset ready for its intended use and all these costs must be capitalized. Interest (borrowing cost) according to IAS 23( borrowing cost) states Interest directly involved in acquisition or construction or producing of qualifying assets must be capitalized i.e included in the cost of the asset.

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Georg, a german citizen, just purchased 10 shares of stock in microsoft, a u.s. company. this purchase is an example of

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Foreign portfolio investment, which is simple people in one country investing in the assets of another country.

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3 years ago

With the balanced scorecard approach, the entire focus is on measuring and managing specific financial goals based on the organi

steposvetlana [31]

With the balanced scorecard approach, the entire focus is on measuring and managing specific financial goals based on the organization's strategy. is a "false" statement.

<h3>What is balanced scorecard?</h3>

The term "balanced scorecard" refers to the idea of using both conventional financial measures and strategic metrics to obtain a more "balanced" picture of success.

The balanced scorecard idea has developed beyond the straightforward application of viewpoints to become a comprehensive framework for managing strategy.

A system for strategic management and planning is the balanced scorecard (BSC). Businesses employ BSCs to:

Tell others what they want to achieve.
Align the job that everyone does on a daily basis with the plan
Make projects, commodities, and services a priority.
Track and evaluate your progress toward your strategic goals.

The ability to "connect the dots" between the various elements of strategic planning and management is one of the main advantages of using a disciplined framework.

To know more about the balanced scorecard, here

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2 years ago

Regional trade agreements In the following table, indicate whether each statement about regional trade agreements is true or fal

trasher [3.6K]

Answer:

A. True

B. True

C. True

D. True

E. False

F. True

Explanation:

It is true that under regional trade agreements, several countries eliminate tariffs among themselves and lower tariffs against all other countries.

It is true that regional trade agreements are consistent with GATT's most favored nation principle. GATT is an acronym for General agreement on tarrifs and trade and most favoured nation (MFN) is a status or level of treatment accorded by one state to another in international trade. The term means the country which is the recipient of this treatment must nominally receive equal trade advantages as the "most favoured nation" by the country granting such treatment (trade advantages include low tariffs or high import quotas).

It is true that the countries in the European Union (EU) keep their own tariffs with the countries outside the EU. The EU trade agreement is basically to promote trade among EU countries, not necessarily to lower tariffs for non members.

US and China have a trade agreement which lowers tarrifs and US and Canada operate a Free Trade agreement (FTA) which seeks to eliminate all tarrifs on trade between the two countries. Therefore If China wants to sell a good to Canada, it can first export it to the United States, where the tariff is lower, and then ship it duty- free to Canada.

It is false that countries who enter into a free trade area agreement maintain a common schedule of tariffs with countries outside the agreement. The agreement does not cover trade among non members.

In customs union, rules of origin are not needed. Custom unions only considers where the good is shipped from and not the originating nation.

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3 years ago

On September 1, Walker Company received $30,900 for six months of rent in advance. On September 1, Walker Company credited Rent

erma4kov [3.2K]

Answer:

As per accrual concept of accounting, income is recorded when it is earned and not when cash is received.

An income which is not yet earned i.e services for which are yet to be provided and yet cash is received against it in advance, such an advance receipt represents liability since services are yet to be provided.

The entry passed by Walker Company upon receipt being

Cash A/C Dr. $30,900

Rent Revenue A/C $30,900

(Being six month rent received in advance recorded)

By Dec 31, Walker company has provided services for 3 months out of 6 months which meant half of the rent recorded as income upon receipt above, remained unearned as on Dec 31.

The Adjusting entry as on Dec 31, would be,

Rent Revenue A/C Dr. $ 15,450

To Unearned Rent Income $15,450

(Being unearned rent income recorded)

This amount of $15,450 represents the rent received in advance which relates to three months against which services are yet to be provided i.e due.

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4 years ago

Does the manager of a licensed establishment need to obtain an rbs certification?.

Ivenika [448]

Answer:

Yes

Explanation:

Every establishment planning to serve alcohol should have a rbs certification.

8 0

2 years ago