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3 years ago

What is meant by market in the lower-of-cost-or-market rule?

Business

1 answer:

Pavel [41]3 years ago

7 0

Answer:

Stock is valued at lower of : cost or market price [prudence principle]

Explanation :

Prudence or Conservatism is an accounting principle : anticipating for all possible losses & expenditures, not anticipating for possible profits & gains. This makes business better prepared to face all contingent expenditures/ losses.

This concept's implication is that : Stock or Inventory is valued at the value whichever is lesser between 'cost of inventory' & sale price. This makes inventory valuation as per the above explained Prudence/ Conservatism principle.

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What is pulchritude

Rufina [12.5K]

Answer: it means beauty

Explanation:

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3 years ago

This year, Company LI built a light industrial facility in County G. The assessed property tax value of the facility is $20 mill

const2013 [10]

Answer:

Net Revenue=$120,000

Explanation:

Given Data:

Tax abated=4%

Assessed property tax value of the facility=$20,000,000

New assessed property tax value of the facility=$23,000,000

Required:

Net effect on County G’s current year tax revenue from the abatement=?

Solution:

Decrease in revenue=(0.04*$20,000,000)

Decrease in revenue=$800,000

Decrease in Revenue due to economic boom=0.04*$23,000,000

Decrease Revenue due to economic boom=$920,000

Net Revenue= Decrease Revenue due to economic boom-Decrease in revenue

Net Revenue=$920,000-$800,000

Net tax Revenue=$120,000

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3 years ago

Under two of the incoterms® rules, ________ has to provide the importer with a certificate of insurance.

Dovator [93]

<span>"The exporter"</span> has to provide the importer with a certificate of insurance.

The Incoterms rules are standard arrangements of exchanging terms and conditions intended to help merchants when merchandise are sold and transported. Each Incoterms rule determines: the commitments of each gathering like who is in charge of administrations, for example, transport; import and fare leeway and so on.

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4 years ago

The phs regulations about financial conflict of interests require which party to disclose significant financial conflicts of int

nikitadnepr [17]

The PHS regulations about financial conflict of interest require INVESTIGATORS to disclose significant financial conflict of interest.
The PHS requires that for each proposal submitted to that agency, the principal investigator and any other person regardless of their positions and titles, who are responsible for the conduct and the design of the experiment should certify that appropriate significant financial disclosure has been made.

8 0

3 years ago

Read 2 more answers

Scenario Creekside Robotics Corp. provides free lunch to its employees every day. The work environment is informal and friendly,

Ierofanga [76]

The social need is provided when Creekside Corp seeks to satisfy its staff by providing a friendly work environment where everybody gets to know each other.

<h3>What is a social needs?</h3>

This is a need that include friendship, affection, belonging, love etc.

In a workplace, when the physiological and safety needs are well satisfied, then, the employees will be motivated to work effectively.

Therefore, the social need is provided when Creekside Corp seeks to satisfy its staff by providing a friendly work environment

Therefore, the Option C is correct.