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Marysya12 [62]
3 years ago
8

Regarding convergence of accounting standards, the FASB and IASB:

Business
1 answer:
Ahat [919]3 years ago
6 0

Answer:

D. Are not likely to achieve full convergence of accounting standards in the near future.

Explanation:

FASB and IASB has joined hands to work together and achieve full convergence. This agreement was signed in 2002, but yet the full convergence has not been achieved. Though both the organisations are still working on the same.

They have not combined their organizations as to form a single organization and work on BUSY format, thus, statement A is not correct.

As they intend to work together statement C is also not correct.

As full convergence is not yet done, Statement B is also not correct.

Accordingly, Statement D is correct.

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A company is obligated to pay its creditors $6,100 at the end of the year. If the value of the company's assets equals $5,800 at
Korvikt [17]

Answer:

The value of shareholders' equity is -$300

Explanation:

Shareholders' equity is the corporation's owners' residual claim on assets after debts have been paid.

Total assets= Total liability + shareholders' equity

Shareholders' equity = Total assets - Total liability

Shareholders' equity = $5,800 - $6,100

Shareholders' equity = -$300

6 0
3 years ago
50 red and 50 black balls in a box when you randomly pick two balls without replacement
LUCKY_DIMON [66]
2/100
=1/50
.........
7 0
3 years ago
With the recent surge in the showing of commercials to movie theater audiences, many companies have found it to be an innovative
inysia [295]

Answer:

Self selection.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

Advertisement refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers.

In this scenario, advertising relies on self selection.

5 0
3 years ago
Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation
katrin [286]

Answer:

$40,000

Explanation:

We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.

Calcuation

iability on the transfered real estate        $300,000

less: adjusted basis value                       ($260,000)

Gain recognized                                        $40,000

3 0
3 years ago
Read 2 more answers
At the start of its fiscal year, a company anticipated producing 300,000 units throughout the year. The annual budgeted manufact
scoray [572]

Answer:

The correct answer to the following question is $36,000.

Explanation:

Given information  -

Units anticipated to be produced - 300,000 units

Variable cost - $150,000

Fixed cost - $600,000

Beginning inventory - 5000 units

Ending inventory  - 7000 units

Income under absorption costing - $40,000

Now under the absorption costing, rate of fixed overhead cost per unit -

Fixed cost / Number of units produced

= $600,000 / 300,000

= $2

In April ( under absorption costing ), the amount of fixed manufacturing overhead cost that was still embedded in ending inventory but were not expense -  

Fixed overhead rate per unit x number of units produced but not sold

= $2 x 2000 ( 7000 units - 5000 units )

= $4000

So when we calculate the operating cost under variable costing this fixed overhead cost wold be subtracted from total income -

$40,000 - $4000

= $36,000 .

6 0
3 years ago
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