Answer:
I would say that the answer is D. If he knows that people don't buy encyclopedia's, yet he stocks them, the store could lose money because no one would buy it.
Explanation:
Hope this helps. :D
Answer:
The two methods of translating financial statements are the current rate method/closing rate method and the temporal method
Explanation:
Functional currency simply means the main currency used by a business. it could also be defined as the primary currency used in the economic environment in which a business operates as in where it generates most of its cash and also spends it
Functional currency determines to a large extent the method used in translation of financial statements. When there is no difference between local currency and foreign currency, current rate method is used and vice versa for temporal rate method
please find attached from Advanced Accounting
Hoyle, J., Schaefer, T., & Doupnik, T. (2015)
Answer:
D) Overhead was underapplied by $4,000.
Explanation:
Overhead is underapplied when the actual balance in the manufacturing overhead control account is larger than the balance in the applied manufacturing overhead account.
In this case, the balance of the manufacturing overhead control is $124,000 while the balance of the applied manufacturing overhead account is $120,000. This means that actual overhead costs were $4,000 higher than budgeted.
Answer:
b. $10,000
Explanation:
Estimated selling price - Estimated cost of disposal = Net realisable value ceiling.
NRV Ceiling = $208,000 - $10,000 = $198,000
Net realisable value Floor = Ceiling - normal profit margin
NRV Floor = $198,000 - $6,000 = $192,000
Market value Current replacement cost = $190,000
Market Loss = NRV ceiling - RC
Market loss = $200,000 - $190,000 = $10,000
Answer:
Option A. The UCC because it is a mixed contract predominately for the sale of goods.
Explanation:
The Universal Commercial Code deals with all the transactions that are connected with the transaction of goods that have physical existence. If the transaction also includes the share of services which forms part of contract and are minor in amount then it is also governed by the UCC otherwise it is out of the scope of the Universal Commercial Code.
In the given question, transactions are predominantly for purchase of goods which also includes the installation service is within the scope of UCC.
Furthermore, if the mixed contract was predominantly for services then it is out of the scope of UCC. So the right answer is option A.
