Answer:
A
Explanation:
In the hospitality business you would be focusing on the customers needs first. Therefore you would try and accept the form of payment that is easiest for them.
Answer:
they are known as shareholders
If two projects (investments) a and b are said to be mutually exclusive, then we know that the firm must choose to invest in either A or B, but not both.
The term "mutually exclusive projects" is typically used in the capital budgeting process where firms select one project from a range of projects based on specific criteria, with the approval of one project resulting in the rejection of the other projects.
Capital projects that compete head-to-head are said to be mutually exclusive. Projects X and Y are said to be mutually exclusive, for instance, if a management must choose precisely between completing either project X or Y, but not both of them simultaneously.
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Answer:
DeGraw Corporation
The dollar amount that DeGraw would actually receive after it exchanged yen for U.S. dollars is:
= $845,207
Explanation:
a) Data and Calculations:
Japanese Yen U.S. Dollar
Price Price
Sale of a solar heating station 130.5 million $932,143.86 (130.5m/140 yen)
Payment in 6 months' time 130.5 million $845,207.25 (130.5m/154.4 yen)
b) When the yen fell against the dollar from 140 yen to 154.4 yen, the dollar amount that DeGraw would receive reduced from $932,143 to $845,207.25. This is a loss of $86,935.61 due to exchange rate fluctuations.
Answer:
Change in accounting estimate.
Explanation:
IAS-8 deals with the accounting policies, change in accounting estimates and policies. This standard deals with following changes:
- Change in reporting entity --- It is a change in reporting entity. An example of it can be preparation of consolidated financial statements.
- Change in accounting estimate --- It is a change in any of the prior estimates because the management is now exposed to more information and believe that doing so would enhance the fairness of financial statements. For example, depreciation method.
- Change in accounting principle --- It is a change from on GAAP to the more preferable one. For example, the management might decide to change its inventory cost flow assumption from FIFO to Average-costing.
- Correction of an accounting error - The correction of accounting errors like commission error and error of principle.
The standard states that these changes must be made under two methods:
- Retrospective --- When we are required to change prior year statements.
- Prospective --- Adjusting the current and future estimates.
Each change/correction is accounted for under specified method as prescribed by the accountancy regulatory body. The effect of change in reporting entity, accounting principle, and correction of an error are retrospective. It means that the prior year financial statements must be adjusted. Whereas, the change in accounting estimate has a prospective effect. It means that the current and future statements should reflect the change and not the prior ones.
