Answer:
Yes I agree with the controller of Dumars corporation because this is what IAS 16 says. IAS 16 Property, Plant & Equipment says that the asset must reflect its Fair value in the face of financial statements. The fair value measurement must be undertaken at the end of the year. This fair value measurement guidance(Revaluation of Non-current Assets) is in line with the prudence concept which says that liabilities and expenses must not be understated and Assets and Income must not be overstated. If we don't revalue our asset then there is increased chances of undervaluing depreciation expense due to undervalued assets.
Accounting treatment must be:
1. Waive off all the accumulated depreciation related to the revalued asset.
Dr Accumulated Depreciation XX
Cr Revaluation Reserves XX
2. Increase the cost of the asset to the revalued amount:
Dr Land (3.5-2)m $1.5m
Cr Revaluation Reserves $1.5
In the nutshell, we can say that the carrying value of the asset has been increased to the amount revalued.
Explanation:
The Journal Entry for 3 May is as shown below:-
Allowance for Doubtful Accounts Dr, $2,000
To Accounts Receivable A. Hopkins $2,000
(Being the write off is recorded)
Therefore for passing the journal entry we simply debited allowance for doubtful account and credited the accounts receivable)
Answer:
The correct answer is letter "B": nonphysical constraints.
Explanation:
According to the Theory of Constraints (TOC) a constraint is a limiting factor that does not enable companies to perform their work at their maximum capacity for their goals' achievement. In the same sense, nonphysical constraints are not material factors negatively influencing employees' actions. Wages cuts, reduction of benefits, unclear lines of command are examples of that kind of constraint.
Answer:
b. Behavior modeling
Explanation:
Behaviour modeling is defined as a learning process where a person is shown how to do something and they are assisted to imitate the model shown.
In this type of model a person can learn through observation of the model. He now imitates what has been seen.
In the given scenario Dr. Jude has provided a variety of examples of the Presentation Zen approach to presentation design and delivery in action.
She designed her lectures/instructor commentaries using this approach and the DMP2 and DMP3 example projects also used the Presentation Zen approach. This is aimed at showing a model that should be imitated.
Answer: The internal auditor discovered it when performing a routine audit of expense reimbursements
Explanation:
Marcus Lane, was a geologist who travelled all over North America and South America and this results in several expense reimbursements. Lane engaged in fraudulent activity by double booking his air travel.
He used cheaper ticket for the actual flight and more expensive ticket was returned for credit. But, he submitted the expensive ticket for reimbursement.
The fraud was discovered by the internal auditor while doing a routine audit of expense reimbursements. He was terminated and he agreed to pay the money back.