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aniked [119]
3 years ago
12

Need help in personal finance.

Business
1 answer:
N76 [4]3 years ago
8 0
Current market conditions
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Taylor Entertainment Center has 5 TVs on hand at the balance sheet date that cost $400 each. The net realiz- able value is $350
faltersainse [42]

Answer:

Under the lower-of-cost-or- net realizable value basis of accounting for inventories, the value that Taylor should report for the TVs on the balance sheet is $350 × 5 = $1,750

Explanation:

The lower-of-cost-or- net realizable value basis of accounting for inventories values inventory at the lower of its cost or net realizable value. This basis of accounting gives a <em>faithful representation</em> to the users of the value of assets in inventory that firm holds. This is  also <em>prudent</em> in that profits are not overstated in the Income statement.

4 0
3 years ago
The relationship between an employer and an employee can be thought of in terms of a(n) __________, a description of what an emp
myrzilka [38]

The answer is psychological contract.

A broken psychological contract may occur when an employee believes that working extra would be naturally rewarded. This, however, may not be business policy. If the person is salaried, they may not be compensated for the extra hours worked.

Daily acts and remarks made in the workplace, as well as how they are interpreted by all parties involved, have an impact on the contract.

`

In other words, it is a promise developed via regular workplace encounters in which the organization learns what is expected of each employee.

Psychological contracts evolve and adapt to the organizational working culture over time. However, they are generally difficult to change and can differ across individual party members and whole organizations.

To know more about employer and employee relationship click here:

brainly.com/question/13400621

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8 0
2 years ago
In measuring an impairment loss for a financial asset under U.S. GAAP and under IFRS, the carrying value of the financial asset
Vitek1552 [10]

In measuring an impairment loss for a financial asset under U.S. GAAP and under IFRS, the carrying value of the financial asset would be compared to:

under U.S. GAAP Fair value and under IFRS recoverable amount.

Explanation:

In US GAAP, the cost of financial asset depreciation is calculated as the difference between carried value and fair value; in compliance with IFRS, a loss of financial asset impairment is defined as the difference between carrying value and the percentage of the asset that can be recouped.

In compliance with US-based ASC 360-10-35-20. The recovery of a historically identified impairment loss (or "restoration") is forbidden because an item is deemed to have a new cost base after an impairment loss has been registered.

7 0
3 years ago
Suppose that a worker in Freedonia can produce either 6 units of corn or 2 units of wheat per year, and a worker in Sylvania can
prohojiy [21]

Answer:

a. 30 units of corn and 30 units of wheat.

Explanation:

Freedonia:<u><em> (without trade)</em></u>

6 corn   x 5 workred = 30 corn

2 wheat x 5 worked = 10

Fredonia <u><em>(with trade)</em></u> will focus on corn only:

6 corn x 10 workers = 60 corn

Then 30 are trade it out, leaving 30 corn

from trade it receives 30 units of wheat

total 30 units of both goods.

4 0
2 years ago
SCENARIO 1.1: An economist wants to understand the relationship between minimum wages and the levelof teenage unemployment. The
Harman [31]

Answer : Minimum Wage

Explanation: From the scenario analysis the minimum  wage should be reduced since its increasing the unemployment rate so that lesser wages would make the youth to work more for their salary.

3 0
3 years ago
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