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kotykmax [81]
3 years ago
14

Nafar wants to start her own business as a contract writer. To do this, she needs to build an office addition to her house. Whic

h type of credit is she most likely to use?A. Installment creditB. Secured credit cardC. Service creditD. Unsecured credit card
Business
1 answer:
pishuonlain [190]3 years ago
5 0
A. Installment credit
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What is the purpose of using predetermined overhead rates: Variation in cost assignment due to short-term variations in volume c
Sunny_sXe [5.5K]

Answer:

All of the answers are correct.

Explanation:

At the beginning of the accounting period a pre-determined overhead is computed by dividing the estimated overhead production by the estimated basis of operations. The default overhead rate is then applied to manufacturing, so that the standard cost for a product may be calculated

The purpose of using pretermined overhead rates are

Delays in product costing can be avoided

Variation in cost assignment due to seasonality can be prevented

Variation in cost assignment due to short-term variations in volume can be prevented

The Use of predetermined overhead rates serves all the above purposes

Hence, all answers are correct.

6 0
2 years ago
A _________ works outside established organizational divisions and has greater flexibility to apply innovative approaches to new
ivanzaharov [21]

The answer is a venture team. This is a team that is cross functional because it has the ability of making new products that are being targeted or focused on new markets and that it also responsible of the aspects of the development of products.

5 0
3 years ago
Your client, Cascade Company, is planning to invest some of its excess cash in 5-year revenue bonds issued by the county and in
muminat

Answer:

Memorandum

Date 27th March'2017

To: Cascade Company

Subject: Re: Accounting treatment for the investments based on FASB Codification research

Purpose

This memorandum addresses the investment concern of Cascade Company in Teton Co. about accounting treatment based on FASB Codification research

Details

Query- 1). Since the Teton shares do not trade on one of the large stock markets; Cascade argues that the fair value of this investment is not readily available. According to the authoritative literature, when is the fair value of a security “readily determinable”?

Query- 2). How is an impairment of a security accounted for?

Query- 3). To avoid volatility in their financial statements due to fair value adjustments, Cascade debated whether the bond investment could be classified as held-to-maturity; Cascade is pretty sure it will hold the bonds for 5 years. How close to maturity could Cascade sell an investment and still classify it as held-to-maturity?

Query- 4). What disclosures must be made for any sale or transfer from securities classified as held-to-maturity?

Issue:

1) To determine accurately the fair value of the security of a given firm or Company, the necessary three conditions to be met are:  

  • The fair value per share, in another word known as a unit must be indomitable and in print.  
  • At this point, the unit qualifies to be the basis for current transactions.  
  • In an event the fair market value of an equity security is determined then the sales price can be easily reached on a securities exchange which is registered with the United States Securities and Exchange Commission.
  • The sales price also can made be available in the over the counter markets. The last condition relates in foreign market situations exclusively. The overseas market should be analogous in width and extent to the American markets pursuant to (FASB, ASC 320-10-20).

2) The impairment of a security is accounted for by evaluation of the impairment test to the level of loss in value showing exterior the temporary measures. The company is allowed to take stepladder to recognize and account for securities grouped as either available for sale or held to maturity by making an assessment of whether a decline in fair value down the amortized cost basis is other than temporary. Providing a general allowance for anonymous impairment in securities portfolio in an inappropriate way (FASB, ASC 320-10-35-18). Additionally, amortized initial outlay exceeds the fair value of a project or investment at the date of balance sheet reporting period for which the respective impairment is assessed, the impairment is either other than temporary or temporary”(FASB, ASC 320-10-35-30).

3) To classify a bond as a held to maturity investment, the company must have the affirmative intent and capability to hold respective securities to maturity (FASB, ASC 320-10-25-1). In case the bonds were sold as a five-year term, it would be satisfactory to categorize the asset as held-to-maturity. It depends upon standard to sell a held-to-maturity security early. The sale of a held-to-maturity security must be in rejoinder to an actual decline, not mere conjecture, to the credit worthiness of the issuer pursuant to as according to (FASB, ASC 320-10-25-5(d)). Cascade can only sell the security based on the standards adjoining held-to-maturity categories if following conditions are met:

  • The security sale appears near adequate to its maturity time (or call period if exercise of the call is plausible) that risk on interest rate is significantly removed as a pricing factor, or  
  • The sale of a security appears after the firm has already unruffled a considerable portion of the principal outstanding at acquisition due either to scheduled payments on a debt security payable in equal installments or to prepayments on the debt security (it would include both principal and interest) over its term period (FASB, ASC 320-10-25-14).

4) The entities must disclose the following for either the sale or transfer from securities classified as held-to-maturity:

  • The net carrying amount of the security transferred or sold.
  • The aggregate amount of net gain or loss that is accumulated in other comprehensive income for derivatives which is hedged the predetermined acquisition of the security held-to-maturity.
  • The correlated amount realized or unrealized loss or gain
  • The state of affairs leading to the decision to sell or transfer the security. (These transfers or sales should be rare on exceptions for transfers or sales due to the changes in conditions in accordance to paragraph 320-10-25-6(a) through (f))” (FASB, ASC 320-10-50-10).

8 0
2 years ago
Explain the tax implications of compensation in the form of salary and wages from the perspectives of the employee and employer.
PtichkaEL [24]

Answer:

The overview including its situation becomes discussed below.

Explanation:

  • Representatives provide Form W-4 continue providing recruitment information to another boss. Staff may use the W-4 to track retention mostly during the period as persistence becomes handled as if it has been maintained similarly mostly during the period again for benefits of the imposed fee.
  • Employer's post-tax benefit of wages seems to be the benefit of employment minus the charitable donation of compensation.
  • Throughout the case of open marketplace collaborations, the task presumption towards anti-performance compensation charged to something like the CEO as well as the 3 although the most deeply compensated officials, except the CFO, increases limited to $1,000,000 per individual annually.
3 0
2 years ago
1. A = GDP deflator or the CPI for the United States
tatuchka [14]

Answer:CPI, GDP Deflator

Explanation:CPI(consumer price index) is a macroeconomic measure used to determine the level of inflation in countries like the United States of America.

GDP Deflator is also a macroeconomic measure that measures the price level of all the new products produced domestically within a country in a specified year or period.

Both GDP DEFLATOR AND CPI ARE VERY USEFUL IN DETERMINING THE PERFORMANCE OF AN ECONOMY AS GDP DEFLATOR MEASURES DEFLATION,CPI MEASURES PRICE INFLATION IN A SPECIFIC OR BASE YEAR UNDER REVIEW.

3 0
3 years ago
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