An example of a business that I would start is a food delivery business. The business will entail delivering food from different restaurants to clients as desired. The business structure that would make the most sense is a sole proprietorship as it is a simple business structure whereby I will<span> own and manage the business as well as be responsible for all transactions. The business will also not be taxed as the profits and losses will pass through me.</span>
Answer:
Under IFRS, the building should be recorded at its historical cost minus its accumulated depreciation which is $450,000.
Explanation:
Under IFRS, IAS 16 Property, Plant and Equipment states that asset should be subsequently recorded following one the the following two models:
+ Cost model: The asset is carried at cost less accumulated depreciation and impairment;
+ Revaluation model: The asset is carried at a revalued amount, being its fair value at the date of revaluation less subsequent depreciation and impairment, provided that fair value can be measured reliably.
With information given in the question, there is lack of information about fair value of the building; that is whether the appraisal is done by the professional, independent appraiser or whether the price offer by potential buyer is the fair price in the market.
So, with given information, Cost model should be applied and the building should be recorded at its historical cost minus its accumulated depreciation which is $450,000.
Answer: D) inelastic.
Explanation:
To find out the elasticity of the supply of corn, use the Price Elasticity of Supply (PES) formula. The price elasticity of supply shows how much quaintly supplied would change by if there was a change in price.
Price elasticity of supply = Change in quantity supplied / Change in price
= 20% / 30%
= 0.66
When the Price elasticity of supply is less than one, the supply is said to be inelastic. The PES here is less than 1 so corn is inelastic.
Answer:
C. Responsibility accounting
Explanation:
The correct answer is C.
Responsibility accounting is a concept of accounting that is used as performance measurement. The main idea is that big and varied organizations are difficult, and almost impossible to manage as one segment, therefore they must be cut into parts or separated into parts that can be managed. These parts, are called responsibility centers that include:
1. Cost centers,
2. Revenue centers,
3. profit centers, and
4. investment centers.
This approach gives room for responsibility to be given to the manager in these parts that have the biggest amount of influence over the key elements that are to be managed.
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What are collaborative websites?
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Is a collaborative website where users can publish and modify content on a webpage?
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Learn more about collaborative website:
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