Answer:
Net realizable value less a normal profit margin.
Explanation:
Lower of cost or market rule of inventory states that cost of inventory recorded must be that at which cost is lower, and the original cost is the current market price.
This occurs when the inventory has become obsolete, market price has declined, or inventory has deteriorated
Net realisable value is defined as selling price minus estimated cost of completion.
So the market value should not be less than net realizable value less a normal profit margin.
Legazint most likely follows <u>b. a customer-based division</u>.
<u>Explanation:</u>
The customer-based division is generally followed in an organization to split the functional areas based on the customer demand. This is mainly followed due to increase in production and sales. The working departments are classified into separate categories.
In the above scenario, customer-based division is followed in the law firm. This was done for the facilitation of the clients. The staffs are organized into separate departments based on the client demands. The common departments are federally incorporated organizations, partnerships, corporations, sole proprietorship and limited liability companies.
According to the world trade organization, between 1993 and 2013 world trade grew by an average of more than 5%.
Answer:
[AD = C + I + G] = [AS = Y]
S = I
Explanation:
Economy is at equilibrium when : Aggregate Demand = Aggregate Supply
Aggregate Demand [AD] is the total value of goods & services, all sectors of an economy are planning to buy, during a period of time.
Assuming 3 sector Economy having : Households, Firms, Government
AD = Consumption (C) + Investment ( I ) + Net Govt. Expenditure (NG = G-T)
Aggregate Supply [AS] is the total value of goods & services, all producers of economy are planning to sell, during a period of time. Total value of goods & services is distributed among all production factors as factor incomes. And, Income is either saved or consumed.
AS = National Income [ Y ] = Consumption (C) + Saving (S)
So, Equilibrium : [AD =C + I + NG] = [ AS = Y] → ∴ C + I + NG = Y
[AD = C + I + NG] = [ AS = C + S] → ∴ C + I + NG = C + S
Assuming : leakage (tax) = injection (govt expenditure) ; NG = G-T = 0
So, C + I = C + S → ∴ I = S
Answer:
1. Book keeper: Carol, an employee of Fresh Café, documents all of its monetary transactions
2. Shareholder: Kyle purchased $1,500 of stock in Computers 'R Us
3. Auditor: B. Kim, an outside contractor, objectively analyzes Flip's Clothing Boutique's accounting processes and data
4. Controller: Charlie oversees all of Groove Market's financial reporting and accounting
Explanation:
1. A bookkeeper oversees a company’s financial data by maintaining books on accurate information such as payroll, accounts receivables, accounts payables and any other financial transactions and reconciliation.
2. A shareholder, also known as a stockholder is a person or other entity who owns at-least one share of a company’s stock or equity.
3. In auditor is a person who is responsible for evaluating the accuracy and reliability of a company’s financial statements. Auditors can be internal or external. Internal auditors are those who audit the financial statements of the company they exist in and external auditors are those from outside audit firms who are hired to evaluate another company’s financial information.
4. A controller in an individual who has responsibility for all accounts-related activities including financial, managerial and high level accounting.
