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mylen [45]
3 years ago
10

When changing from the average cost method to FIFO, the company: Multiple Choice Includes in current year’s income the cumulativ

e after-tax difference that would have resulted if the company had used FIFO in all prior years. Revises comparative financial statements. Records a journal entry to adjust the book balances from their current amounts to what those balances would have been using FIFO. All of these answer choices are correct. ( I have checked Revises comparative financial statements. and Records a journal entry to adjust the book balances from their current amounts to what those balances would have been using FIFO. both them are wrong )
Business
1 answer:
brilliants [131]3 years ago
4 0

Answer:

Check the following explanation

Explanation:

When changing from the average cost method to FIFO, the company: Multiple Choice Includes in current year’s income the cumulative after-tax difference that would have resulted if the company had used FIFO in all prior years.

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Jarvis is a coffee farmer who wants to hedge his entire coffee crop that will be harvested by September. The December coffee con
aleksandr82 [10.1K]

Answer: Sell four December coffee future contracts at $2.00 per pound

Explanation:

Based on the scenario in the question, the number of contracts that is required for hedging the entire crop will be gotten by dividing the total number of crops by the pounds that are available in one contract. This will be:

= 150,000/37,500

= 4 contracts

Therefore, the answer will be for Jarvis to sell four December coffee future contracts at $2.00 per pound

6 0
3 years ago
When Anhueser Busch InBev sells Budweiser beer made in St. Louis, MO, to Germany, the sales of its product would be classified a
kvasek [131]

Answer:

Export.

Explanation:

When a company sells its assets to a buyer in another country it is considered an export as the company is no longer considered an asset of the country of origin.

So when Anhueser Busch InBev sold Budweiser beer made in St. Louis, MO, to Germany, it carried out a United States export to Germany.

6 0
3 years ago
How did speculative investing weaken the stability of the stock market
Lena [83]
The main way in which speculative investing weakened the stability of the stock market was that it it led to high overvaluation of a company's worth, meaning that people began to divest quickly, leading to a run on the banks. 
7 0
3 years ago
Which of the following statements is true?
Sedaia [141]

Answer:

The correct answer is option d.

Explanation:

A monopoly is a market structure where there is a single firm in the market with no close substitutes. The firm is a price maker. There is high barriers to entry in the market.

Similar to monopoly other imperfect competition such as monopolistic competition and oligopoly also have barriers to entry, and are price makers. But the firms in such markets have different  demand curve than the market demand curve.

But in a monopoly there is only single firm, so the market demand curve is the same as  individual firm's demand curve.

4 0
4 years ago
The basic model of pure competition reviewed in this chapter finds that in the long run all firms in a purely competitive indust
Helen [10]

If all firms only earn a normal profit in the long run, firms will develop new products or lower-cost production methods because they can innovate and possibly earn an economic profit in the short run.

Explanation:

Competition involves constant efforts by companies and executives to do more than the loss (normal gains) of new goods or by improving ways to manufacture current products at lower prices. Therefore, if businesses can invent, they will achieve short-term economic advantage.

Economic benefit encourages entry, economic losses lead to exit and firms in a highly profitable market earn little economic income in a long-term equilibrium. In an industry where inflation does not change the costs of materials (a market with a constant cost), the long-term supply curve is a horizontal line.

7 0
3 years ago
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