Answer:
Inventory should be increased by $3,500
Explanation:
Calculation for What adjustment to inventory should be made under IAS 2 after this event
Adjustment to inventory under IAS 2= 13,000 - 9,000- 500
Adjustment to inventory under IAS 2 = $3,500 Increased
Based on the above calculation the adjustment to inventory that should be made under IAS 2 after this event is that Inventory should be increased by $3,500.
Answer:
The correct answer is letter "A": an increase in the long-run equilibrium level of output.
Explanation:
Aggregate Demand is a macroeconomic term describing the total demand in an economy for all goods and services at any given price level in a given period. That scenario implies aggregate demand is the demand for the Gross Domestic Product (<em>GDP</em>) of a country.
In front of a recession, the government should promote the increase the aggregate demand by <em>lowering rates</em> so more loans will be available and reachable. With more loans, more investments come and in the long term, the output is likely to hit its equilibrium point.
Answer:
$600
Explanation:
Data provided in the question:
Number of diamonds with delta = 5
1 diamond purchased on June 1 for $500
2 diamond purchased on July 9 for $550 each
2 diamond purchased on September 23 for $600 each
Now,
under the LIFO (Last In First Out) , the unit purchased last will be sold first
Therefore,
Before December 24 t, last purchase was 2 diamond purchased on September 23 for $600 each
Hence,
The Cost of Goods Sold is $600
Answer:
is called a forbearance and is adequate legal consideration for a contract.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Under contract law, a promise not to do something that a person could otherwise do is called a forbearance and is adequate legal consideration for a contract.
For example, a creditor who decides to forebear by refusing to collect money from a debtor.
Answer:
D
Explanation:
Profit = Revenue - cost
Cost = fixed cost + variable cost
if variable cost increases by 10%, cost would increase by 10%.
Revenue also increases by 10%
So, the increase in revenue would be cancelled by the increase in cost and profit would not change
