1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vovangra [49]
3 years ago
12

Determine which of the following statements are correct regarding damaged or obsolete goods. (Check all that apply.)

Business
1 answer:
fenix001 [56]3 years ago
8 0

Answer:

1.  Damaged or obsolete goods are not counted in inventory if they cannot be sold.  

2.  If these can be sold… Cost should be reduced to Net Realizable Value

Explanation:

The law relating to the valuation of inventory is that ''inventory should be valued at lower of 'Cost' and 'Net Realizable Value'.

Therefore in the case of damaged or obsolete goods, they have to be eliminated from inventory, otherwise it will lead to overvaluation.

However in the case where these can be sold, They have to be valued at lower of 'cost' or 'salable value', implying that 'Cost' should be reduced to 'Net Realizable Value'

You might be interested in
Scenario C. Parker Brothers is a high-end furniture manufacturer located in the Midwest, Mr. Herbert "Bud" Parker started the fi
Reika [66]

The correct answer is A) organization culture.

The other options of the question were B) the company's macroenvironment. C) the organization's competitive environment. D) collective competitive intelligence. E) organizational structure.

The stories about the "Parker Legends" and the organization's most innovative designs are all clues to understanding the organization's culture.

This is the importance of the culture of a company. The series of values, principles, mission, and vision that characterizes and makes the company unique. Every single employee in the company shares these values and can be transmitted through time to new workers. "Parker Legends" is a tradition that is respected and is part of the organization's DNA.

5 0
3 years ago
.....................................hi
sp2606 [1]

Answer:

Hi!! I hope you are great. Thanks for the pts...

8 0
3 years ago
Which of the following things could make a business idea a bad opportunity? A. Differentiation B. Low competition C. Low custome
Flauer [41]
The things that could make a business idea a bad opportunity is low customer deman. Option C is the answer. The other options does not result to bad opportunity. .
3 0
3 years ago
Read 2 more answers
Potential advantages to initiating, continuing, or expanding international operations is that foreign operations can absorb exce
Daniel [21]

Answer:

<em>True:)</em>

Explanation:

<em>The given statement is very</em> TRUE.

Yes, as we know that in international operations the companies are given the freedom to find new consumers for their goods and as well as products. And foreign operations have the power to absorb as the demand is less than the stock, and also reduces the unit cost as their is no more production because of the less demand.

4 0
3 years ago
Weighted Average Cost Method with Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for
muminat

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
4 0
3 years ago
Other questions:
  • Why teach for america teachers perform better than other teachers
    5·1 answer
  • Suppose that an economy has 9 million people working full-time. it also has 1 million people who are actively seeking work but c
    8·1 answer
  • Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more tha
    9·1 answer
  • Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan.1 Inventory 26 units at
    5·1 answer
  • A ________ is best described as a voluntary arrangement between firms that involves the sharing of knowledge, resources, and cap
    8·2 answers
  • Annual maintenance costs for a particular section of highway pavement are $2500. The placement of a new surface would reduce the
    6·1 answer
  • The income statement for the Marin Inc. for the month ended July 31 shows Service Revenue $19,560, Salaries and Wages Expense $9
    10·1 answer
  • The following information pertains to Crane Company. 1. Cash balance per bank, July 31, $11,136. 2. July bank service charge not
    10·1 answer
  • Acct. Optimistic Likely Activity Variance
    13·1 answer
  • A _____ gives you a chance to express your appreciation to the interviewer for his or her time and interest.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!