Answer:
A. Is the same as convergence of accounting standards
Explanation:
Harmonization of accounting standards mean the process of increasing the compatibility of accounting practices by setting bounds for the degree of variations.
The notion of harmonization can be replaced by the concept of convergence.
Harmonization of international accounting standards is an imposition of standards by economically superior countries.
Answer:
The answer is: Assigning accounts receivables as collateral for a bank is not a asset transfer.
Explanation:
Even as the bank offers Sun Inc. with a factoring limit, the accounts receivables are still in the firm's accounting book. The firm has the obligations to go after their debtors for collections. The account receivables are transferred to creditors when a company becomes defaulted or bankrupted.
Answer:
Correct answer is letter D, $11,000 cost, five-year life and $1,000 salvage value
Explanation:
To compute depreciation expense of an asset using straight-line method of depreciation, the information we needed is 3,
1. cost of an asset
2. life of an asset (in year)
3. residual value (if available)
<em>* residual value of an asset is to be determined by the company, some asset don't have scrap value assigned.</em>
<em />
<em>FORMULA </em>
<em>The difference between the cost of an asset and the expected residual value over the number of years it is expected to be useful.</em>
<em>(cost of an asset - residual value ) / life of an asset</em>
Answer:
The correct answer is Inductive reasoning.
Explanation:
Inductive reasoning is a form of reasoning in which the truth of the premises supports the conclusion, but does not guarantee it. A classic example of inductive reasoning is:
- All the crows observed so far have been black
- Therefore, all crows are black
In principle, it could be that the next crow observed is not black. In contrast to deductive reasoning, inductive reasoning has the advantage of being expansive, that is, the conclusion contains more information than is contained in the premises. Given its expansive nature, inductive reasoning is very useful and frequent in science and in everyday life. However, given its fallible nature, its justification is problematic. When are we justified in making an inductive inference, and concluding, for example, that all crows are black from a limited sample of them? What distinguishes a good inductive argument from a bad one? These and other related problems give rise to the problem of induction, whose validity and importance has continued for centuries.
My answer would be C ''Foreign Exchange Rate''.
