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Over [174]
3 years ago
6

When reporting inventory using the lower of cost or market, market should not be less than:

Business
1 answer:
Natali5045456 [20]3 years ago
3 0

Answer:

Net realizable value less a normal profit margin.

Explanation:

Lower of cost or market rule of inventory states that cost of inventory recorded must be that at which cost is lower, and the original cost is the current market price.

This occurs when the inventory has become obsolete, market price has declined, or inventory has deteriorated

Net realisable value is defined as selling price minus estimated cost of completion.

So the market value should not be less than net realizable value less a normal profit margin.

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You are on the Chicago City Council and are interested in how to make urban sidewalk gardens a success in your city. Which of th
Korolek [52]

Answer:

Miami, Florida

Explanation:

If you are looking to learn how to make urban sidewalk gardens a success in your city I believe that one of the best cities to learn and accomplish how to do this would be Miami, Florida. Florida is known as "The Sunshine State" for it's climate which allows for beautiful plants to survive all year round. The city of Miami has taken this advantage and used it to make beautiful urban sidewalk gardens a success. Therefore you might get a lot of information on how to accomplish this by travelling to Miami, Florida.

If you have any more questions feel free to ask away at Brainly

7 0
3 years ago
At one time there were many farm cooperatives, but more recently other forms of business ownership have replaced them.
frutty [35]

Answer:

False

Explanation:

Farm cooperatives remain by far the most important food source in the world, both for direct human consumption and, indirectly, for livestock production inputs.

Since the mid-sixties, the world has managed to increase cereal production by almost one billion tons.

The business has expanded in recent decades, becoming a very prosperous industry.

3 0
3 years ago
The income statement of Oriole Company is shown below. ORIOLE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sale
noname [10]

Answer:

Cash flow from operating activities

Cash Receipts from Customers                            6,840,000

Cash Paid to Suppliers and Employees              (5,900,000)

Net Cash from Operating Activities                        940,000

Explanation:

Cash Receipts from Customers Workings

Total Debtors T - Account

Debit :

Sales                                                            6,840,000

Totals                                                          6,840,000

Credit:

Cash Receipts                                            6,840,000

Totals                                                         6,840,000

Cash Paid to Suppliers and Employees

Cost of goods sold                                      4,730,000

Add Other Expenses  

Selling expenses                                            460,000

Administrative expenses                                710,000

Cash Paid to Suppliers and Employees    5,900,000

8 0
3 years ago
Identify the component of an information system that consists of raw facts and is a major component of information systems.
hammer [34]
The answer to this question is: Information
An information system is a set of command that i used to analyze available information in order to create a better decision for the company.
Which means that information will not be able to do any function of it does not possess the initial information, to begin with, so we can conclude that information is a major component of the information systems
6 0
3 years ago
The voucher system of control: Multiple Choice Is a set of procedures and approvals designed to control cash receipts and the ac
Evgen [1.6K]

Answer: Establishes procedures for verifying, approving, and recording obligations for eventual cash disbursement.

Explanation:

The voucher system control is used to ensure that cash will only be spent on the purchases that are authorized.

The voucher system of control establishes procedures for verifying, approving, and recording obligations for eventual cash disbursement.

4 0
3 years ago
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