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Dennis_Churaev [7]
4 years ago
7

A one-time error in the application of the lower of cost or market/net realizable value (LCM/NRV) rule in the current period dis

torts financial results for the current accounting period:
a. only.
b. The period before.
c. The period after.
d. All periods after.
Business
1 answer:
Kipish [7]4 years ago
8 0

Answer:

A one-time error in the application of the lower of cost or market/net realizable value (LCM/NRV) rule in the current period distorts financial results for the current accounting period:

a. only.

Explanation:

The lower of cost or market (LCM/NRV) method states that when valuing a company's inventory use the historical cost or the market value, whichever is lower.  The historical cost refers to the cost at which the inventory was purchased.  The market value is the current price.  The implication is that while the historical cost remains static, the market value shifts over time.

Therefore, if there is a one-time error made in the use of the LCM/NRV rule, it only affects the current period.  The next accounting period will restart the process of comparing the historical costs with the market value, thus obviating the need to repeat the error.

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________ means the supply curve has shifted to the right, while ________ refers to a movement along a given supply curve in resp
Flauer [41]

<u>An increase in supply</u><u> means the supply curve has shifted to the right, while </u><u>an increase in quantity supplied </u><u>refers to a movement along a given supply curve in response to an increase in price.</u>

What would shift a supply curve down and to the right?

  • In contrast, a drop in input costs will cause the supply curve to move to the right. Technology.
  • An increase in technology will shift the supply curve to the right. Conversely, a decrease in technology will shift the supply curve to the left.

What does it mean when the supply curve shifts to the right?

  • When demand is constant and supply is increasing, the supply curve moves to the right, creating an intersection where quantity and prices are lower.
  • On the other hand, a negative change in supply causes the curve to move to the left, raising prices and lowering quantity.

Which would cause a shift in the supply curve ?

  • When a change is brought about by a source other than price, the supply curve shifts.

Learn more about supply curve

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5 0
2 years ago
During normal economic​ times, when there is not​ "excessive" unemployment or​ inflation, discretionary fiscal policy
iogann1982 [59]

Answer:

The correct answer is D. is probably not very effective due to lags and the uncertainty created by repeated tax policy changes.

Explanation:

Discretionary fiscal policies: are those that governments intentionally apply to influence public revenues or expenses. They have the advantage that they can act directly on the problems but the drawback is that they are usually slow in their application due to the political and institutional procedures required for their implementation. In addition, these policies take time to achieve the objectives and are not always done effectively.

5 0
3 years ago
Metlock, Inc. has 5900 shares of 6%, $50 par value, cumulative preferred stock and 118000 shares of $1 par value common stock ou
MrRa [10]

Answer:

$23900

Explanation:

Given: Cumulative Preferred stock is 5900 shares of 6% at $50.

           Dividend paid in 2019= $11500

First lets calculate the value of preferred stock.

Preferred stock= 5900 shares\times \$ 50\times \frac{6}{100}

∴ Preferred stock= $17700.

Formula:

Dividend received by preferred stockholder= [Preferred\ stock +(Preferred\ stock-Dividend\ paid)]

⇒Dividend received by preferred stockholder=17700+(17700-11500)

⇒ Dividend received by preferred stockholder= 17700+6200= \$ 23900

∴ $23900 dividend received by preferred stockholder in 2020.

4 0
3 years ago
Select all that apply.
Semenov [28]

Answer:

Wildlife conservationists.

Explanation:

Wildlife conservationists are those people who do the practice of protecting wild species and their habitats to prevent species from going extinct. If anyone wants to make a career in Agriculture, Food & Natural Resources, he/she must have to know which species are endangered now and which species might be endangered in the future. Along with this, they must have to understand how those species could be saved from being extinct. After knowing all of these, he/she might select their career as a wildlife conservationist. Among the other three professions which are said in question aren't possible to choose from the side of a person who knows Agriculture, Food & Natural Resources.

7 0
3 years ago
Read 2 more answers
The cost of making a shirt is half of what the shirt normally sells for. today, however, the shirt is on a 15% discount from its
Stolb23 [73]
Let the cost of the shirt be y and the price by the which the shirt is sold is 2y.

Now, let's calculate how much does 15% represent from the price of the shirt:
15% discount = (15/100) x 2y = 0.3y
Therefore, the shirt is sold for : 2y - 0.3y = 1.7y

This means that at 15% discount, the shirt is sold at 1.7 of its original cost.
7 0
3 years ago
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