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3 years ago

When applying the lower of cost or market rule to inventory valuation, market generally means?

1 answer:

5 0

The term that is being referred here is the REPLACEMENT COST. What the market generally means when lower of cost or market rule is being applied to inventory valuation, this refers to replacement cost. This is the cost applied to an item when it is being replaced. The cost is being applied is the same as its pre-loss condition.

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Leslie hypothesizes that teenagers who read magazines develop low self-esteem because of the unrealistic expectations set by the

alexdok [17]

group that has unrealistic expectations and therefore the group with the lowest self-esteem on the confidence scale administered by Leslie

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3 years ago

Read 2 more answers

Your friend, Alicia, is a graduating senior about to head to college in the fall. Alicia has a single checking account and is ea

kvv77 [185]

Answer:

It is good

Explanation:

Alicia would have an easier time splitting money and saving money towards different goals. Such as putting 40% of your paycheck into savings and splitting the 40% into 10% for each savings account.

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2 years ago

g Samco signed a 5-year note payable on January 1, 2018, of $ 475 comma 000. The note requires annual principal payments each

Tanya [424]

Answer:

B. a debit to Interest Expense for $ 42 comma 750.

C. a credit to Cash of $ 137 comma 750.

Explanation:

Payment of Note Payable includes the payment of interest on the outstanding balance and principal amount of the note. In this question it is the first payment of the note payable, so the outstanding balance is the face value of the note, Interest is calculated using this value, A fix payment of $95,000 is also made.

As per given data

Principal Payment = $95,000

First Interest payment = $475,000 x 9% = $42,750

Total Payment = $95,000 + $42,750 = $137,750

Journal Entry for first payment

Dr. Interest Expense $42,750

Dr. Not Payable $95,000

Cr. Cash $137,750

6 0

2 years ago

Which of the following is a condition necessary to exclude an obligation from current liabilities? Entry field with incorrect an

lutik1710 [3]

Answer:

The answer is: Obligation that has a distant due date exceeding company's operating cycle.

Explanation:

A current liability is a financial obligation due within one year (or one normal operation cycle).

So a financial obligation that has a due date that exceeds a company´s operating cycle should have been directly classified as a long term liability (or a non current liability) in the first place. It simply is not a current liability that is changed into a long term liability, it always was a long term liability.

The other options represent the steps necessary for turning a current liability into a long term liability.

Intend to refinance the obligation on a long-term basis.
Demonstrate the ability to complete the refinancing.
Subsequently refinance the obligation on a long-term basis.

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3 years ago

The quality assurance committee has completed a study that reviewed preoperative and pathologic diagnosis. Upon review of the st

luda_lava [24]

Answer:

The given findings should be reviewed by the tissue committee.

Explanation:

The tissue committee is a committee in a hospital or health care facility that is responsible for preventing unnecessary surgeries, evaluating the performed surgeries and detecting delays in performing a surgical procedure. This committee is also responsible for reviewing preoperative and postoperative diagnoses with the pathological findings.

Therefore, the given findings should be reviewed by the tissue committee.

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3 years ago