Competitive problems.
If there are not ethics standards in place that are followed by the company, it is hard for businesses to compete on a level playing field.
Answer:
$43,030
Explanation:
IAS 2 Inventories states that inventory is to be recognized at cost, however, subsequent measurement requires that inventory be carried at the lower of cost or net realizable amount (NRV).
As such, where the cost of inventory is higher than the NRV, it is written down to the NRV using the following entries,
Debit Inventory write off/Cost of goods sold
Credit Inventory account
with the difference between the cost and the NRV.
Inventory Quantity Unit Cost Unit NRV New unit cost
Furniture 230 $88 $103 $88
Electronics 53 $430 $315 $315
From the analysis above, the cost of inventory is lower than the NRV for Furniture, hence no adjustment is required. However, the cost of Electronics is higher than the NRV hence a write down is required. This amount is
= ($430 - $315) × 53
=$115 × 53
= $6,095
Total recorded cost(ending) of inventory before any adjustment
= (230 × $88) + (53 × $430)
= $43,030
The Federal Reserve does not pay interest on reserves held on deposit. The European System of Central Banks does pay interest on reserves held on deposit.
<h3>Federal Reserve Board</h3>
- In the past, reserve banks were unable to offer interest on deposits. The Emergency Economic Stabilization Act of 2008 brought about a shift in that.
- The Federal Reserve Board had to increase the size of its balance sheet by purchasing Treasuries and mortgage-backed securities in order to increase the amount of liquidity available to the banking sector.
<h3> European System of Central Banks</h3>
- The major objective is to preserve price stability or the euro's worth. Price stability is the most significant contribution monetary policy can make in this area because it is crucial for economic growth and job creation, two goals of the European Union.
- The ECB has four decision-making bodies with the authority to carry out the institution's goals.
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National Flood Insurance will allow James to recoup part of his losses.
The NFIP presently owes $20.525 billion to the U.S. Treasury, leaving $9.nine billion in borrowing authority from a $30.425 billion restriction in law. This debt is serviced by using the NFIP and hobby is paid through top rate revenues.
According to the NFIP, the following varieties of harm aren't blanketed via flood coverage: damage resulting from moisture, mold, or mold that would have been avoided by the assets proprietor or which isn't always due to the flood. Harm resulting from earth motion, although the earth movement is because of the flood.
The NFIP gives flood coverage to asset proprietors, renters, and organizations, and having this insurance enables them to get better faster whilst floodwaters recede. The NFIP works with communities required to adopt and implement floodplain management regulations that help mitigate flooding effects.
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..........who will have completed fewer than 12 YEARS OF SERVICE or a reserve component member who will have fewer than 4320 RETIREMENT POINTS as of December 31, 2017. This is part of the rules that regulated blended retirement system which prepares retirement funds for people in service.
