Answer:
True or False Statements about the conceptual framework:
(a) False: The fundamental qualitative characteristics that make accounting information useful are relevance and faithful representation, which suggest materiality and completeness respectively.
(b) False: Relevant information must also be material in a financial statement user's decision, in addition to having predictive and confirmatory values.
(c) False: It is information that is relevant that is characterized as having predictive or confirmatory value, and not information that shows faithful representation.
(d) False: Comparability also refers to comparisons of a firm over time (which is appropriately described as consistency). This is in addition to the similar reporting of information by different companies.
(e) False: Enhancing characteristics do not relate only to faithful representation but also to relevance.
(f) True.
Explanation:
Faithful representation implies completeness. Relevance means that the disclosure will attract important consideration and is material to the matter. Therefore, users of financial reports base their decisions on relevant information and not irrelevant details.
Answer:
Inflation lowers the standard of living for people whose income does not increase as fast as the price level. Real GDP measures the: value of final goods and services produced within the borders of a country, corrected for price changes.
Answer:
Indian rupee in US dollars = $418
Explanation:
given data
India GDP = 23,000 billion
exchange rate = 50 rupees per US
population = 1.1 billion
solution
we get here GDP per capita as
GDP per capita = India GDP ÷ population
GDP per capita = 
GDP per capita = 20909 rupees
so here we Convert Indian rupee in US dollars that is with exchange rate
Indian rupee in US dollars = GDP per capita ÷ exchange rate
Indian rupee in US dollars = 
Indian rupee in US dollars = $418
Answer:
Check the calculation below.
Explanation:
a) Amount in account after 3 years:
= $1,000 (1+ 0.03)5 + $1,000 (1+ 0.03)4+ $1,000 (1+ 0.03)3 + $1,000 (1+ 0.03)2 + $1,000 (1+ 0.03)
= $1,159.27 + 1,125.51 + 1,092.73 + 1,060.90 + 1,030
= $5,468.40
b) Calculation of amount of payment:
Let the amount of each of two payment be "P".
Now, $4,000 = P (1 + 0.015)3 + P (1 + 0.015)2
or,$4,000 = 1.0457 P + 1.0302 P
or, P = $4,000 / 2.0759
or, P = 1,927 (Approx)
Answer:
$86.87
Explanation:
Calculation for what would be the overall margin on the order
Price of cake $500.54
Less Costs:Size related ($183.06)
($1.13 per guest × 162 guests)
Less Complexity-related ($130.56)
($43.52 per tier × 3 tiers)
Less Order-related ($61.44)
($61.44 per order × 1 order)
Less Cost of purchased decorations for cake ($38.61)
Customer margin $86.87
Therefore would be the overall margin on the order is $86.87
