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polet [3.4K]
3 years ago
8

For long-term contracts, the cost recovery method under IFRS requires recognizing equal amounts of revenue and cost until all co

sts are recovered.
a. True
B. False
Business
1 answer:
Sav [38]3 years ago
8 0

Answer:

The answer is letter A. TRUE

Explanation:

Because under IFRS firms tipically use the cost recovery method iif they conclude that the percentage of completion method is not appropriate to account for a long term contract.

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A new sports car sells for $40,000. The value of the car decreases by 12% annually. After how many years will it be worth half o
Marysya12 [62]

Answer:

n= 6.11 years

Explanation:

Giving the following information:

Present value= $40,000

Future value= $20,000

Decrease rate= 0.12

<u>To calculate the number of years for the car to reach a value of $20,000; we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)

n= ln(20,000/40,000) / ln(1.12)

n= 6.11 years

8 0
2 years ago
Jane is 22 years old. for her job, she needs to take an intelligence test. which would be the most appropriate test for her age
Makovka662 [10]
The most appropriate intelligence test would be the WAIS IV test. This test is used for anyone between the age of 16 and 90 years old. It is frequently used to test adults and older adolescents. This intelligence test can be used for many different purposes (anything from job qualifications to treating psychological disorders).
6 0
3 years ago
Priorities are important in making financial decisions because they _____.
aivan3 [116]
The answer to your question is the letter d.
6 0
3 years ago
Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time.Which of the follo
postnew [5]

Answer: New medical evidence has been released that indicates a negative correlation between a person's beef consumption and life expectancy.

Explanation: The most consistent explanation with this observation is that new medical evidence has been released that indicates a negative correlation between a person's beef consumption and life expectancy. The medical evidence about correlation between the beef consumption of the people and their life expectancy would significantly affect equilibrium price and the quantity of beef bought negatively.

6 0
3 years ago
Products that have been completed and are ready to be sold by the manufacturer are called:
Wewaii [24]

Answer:

The correct answer is letter "A": Finished goods inventory.

Explanation:

Finished goods inventory refers to those products that have reached their maximum level of completion and are stored in the manufacturing company inventory waiting for retailers or end-consumers to demand them. Finished goods are also called <em>final goods</em>.

3 0
3 years ago
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