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3 years ago

Lower-of-cost-or-market as it applies to inventory is best described as the:

Business

1 answer:

Verdich [7]3 years ago

4 0

Answer:

The correct answer is A

Explanation:

Lower of market or cost rule is the one which states or describe that a business or firm need to record the inventory cost at lower, that means whichever cost or the current market price is lower.

It is the term which is best illustrated as the drop or decrease of future utility below the original or the actual cost of the inventory.

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Define term common market

Stells [14]

Answer:

A group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries is called common market.

Explanation:

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2 years ago

Which of the terms below is often used in addition to the words "writing" and "record", and thus recognizes that UCC contracts a

hoa [83]

Answer:

<em>An electronic record</em>

Explanation:

An electronic record is data <em>that is or is being generated by a desktop. It is obtained when an agency or individual activity is initiated, conducted or completed.</em>

Instances of digital records include: email messages, handwritten documentation, electronic spreadsheets, digital photos, and databases.

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3 years ago

A new client of the member firm has just opened a margin account. After account approval, the client's initial trade is an order

Aleks04 [339]

Answer:

$2,000

Explanation:

Data provided in the question

Number of shares purchased = 100 shares

Price of common stock = $25

Given percentage = 50%

Based on the above information, there is no borrowing taken place in a margin account because there is a minimum requirement to maintain $2,000 in equity and when the purchase is made lower than $2,000 so it is important to pay the amount in full and the deposits are important when it is made more than $2,000 in the case when the trade is more than $4,000

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3 years ago

Greenwell Farm Equipment sells a tractor to Farmer for $130,000 on January 1, 2019. The tractor is delivered that day. Greenwel

agasfer [191]

Answer:

Present value of interest is $5,062 and future value is $5,796

Explanation:

The formula for finding the Present value of the interest reported as revenue is calculated as under:

Present Value of $40,000 receivable in 2 years = $40,000 / (1+7%)^2

Present Value of $40,000 receivable in 2 years = $34,938

The difference of the future value receivable and present value of the future amount receivable is the interest's present value which is given as under:

Interest Present value = $40,000 - $34,938 = $5,062

Using the compounding formula, the future value of the interest that will be recorded in the financial statement will be = $5,062 * (1 + 7%)^2 years

Future value of interest = $5796

7 0

2 years ago

A buyer is interested in buying a home in an older neighborhood where new sidewalks have just been installed. The buyer contacts

rusak2 [61]

What this agent has to do should be to advise the buyer that there may be special assessments levied against property.

<h3>Who is a house agent?</h3>

This is a person that acts as a third party to a person that wants to buy or rent a house and the person that is giving out the property.

The agent here has to tell the buyer that the reason for these taxes is the fact that there are other levies on the property.

Read more on house agents here:brainly.com/question/13957036

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2 years ago