The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true.
<h3>What is an Inventory Account?</h3>
Inventory accounting is part of accounting that involves modifications in values and accounts or price of inventoried assests.
A company's inventory nvolves goods are grouped into three stages of production which are raw goods, in-progress goods, and finished goods that are ready for sale.
Therefore, The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true because gross profit will be lower, income tax will be lower and the cost of goods will increase.
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Customer relationship management<span> (</span>CRM) is important<span> in running a successful </span>business<span>. The better the relationship, the easier it is to conduct </span>business<span> and generate revenue.</span>
Answer:
Dr Deferred Tax Liability $3,750,000
Cr Income Tax Benefit-Operating Loss $3,750,000
Explanation:
Based on the information given we were told that net operating loss of the amount of $15 million was reported for financial reporting and tax purposes in which the tax rate is 25%. Therefore the journal entry to recognize the income tax benefit of the net operating loss will be :
Dr Deferred Tax Liability $3,750,000
Cr Income Tax Benefit-Operating Loss $3,750,000
($15 million *25%)
Answer:
a) increased nominal GDP by $20,000, but left real GDP unchanged.
Explanation:
Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
Nominal GDP is GDP calculated using current year prices.
Real GDP is GDP calculated using base year prices.
Nominal GDP = 1000 × $12 = $12,000
Nominal GDP increased by $12,000 but real GDP remained unchanged because the same amount of pizzas was produced both years.
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Answer:
Promissory estoppel is the legal principle that a promise is enforceable by law
Explanation:
