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yKpoI14uk [10]
3 years ago
14

Inventories are defined by IFRS as held-for-sale a. in the ordinary course of business. b. in the process of production for sale

in the ordinary course of business. c. in the form of materials or supplies to be consumed in the production process or in the providing of services. d. all of these answer choices are correct.
Business
1 answer:
Shtirlitz [24]3 years ago
4 0

Answer:

d. all of these answer choices are correct.

Explanation:

As per international financial reporting standard (IFRS), the term "inventory" is defined as assets

  • which are held for sale in the ordinary course of business
  • which are in the process of production for sale
  • in the form of materials or supplies which would be consumed in the production process.

Thus, as per the given information, all of the alternatives provided, comprise of the definition of "inventory".

As per the rules, inventories are to be recorded at cost price or net realizable value whichever is lower.

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Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
dmitriy555 [2]

Answer:

270,000 units

Explanation:

Given that:

Beginning Inventory for finished goods: 31,000

Ending Inventory for finished goods :  41,000

Beginning Inventory for raw materials: 61000

Ending Inventory for raw materials: 51,000

Units planned to be sold: 260,000

We compute the produced finished goods = Ending inventory + Units sold − Beginning inventory

           = 41,000 + 260,000 − 31,000 = 270,000

The number of units the company would have to manufacture during the year would be 270,000

6 0
3 years ago
Metro Holdings Inc. contracts to sell a commercial parking garage to New Property LLC. The contract provides that if Metro does
Shkiper50 [21]

The provision is not enforceable if it is a reasonable estimate of the loss on the breach.

Option - b

<u> Explanation: </u>

There are a few solutions for rupture of agreement, for example, grant of harms, explicit execution, rescission, and restitution. In courts of restricted purview, the fundamental cure is an honor of harms.

Since explicit execution and rescission are evenhanded cures that don't fall inside the purview of the officer courts, they are not canvassed in this instructional exercise.  

The count of compensatory harms relies upon the kind of agreement that was broken and the sort of misfortune that was caused. Some broad rules are:  

Standard measure, The standard proportion of harms is a sum that would permit the no breaching gathering to purchase a substitute for the advantage that would have been gotten if the agreement had been performed.

In situations where the expense of the substitute is theoretical, the no breaching gathering may recoup harms in the measure of the expense caused in playing out that gathering's commitments under the agreement.

4 0
3 years ago
Define working capital. How is working capital computed?
Phoenix [80]

Working capital is calculated by subtracting current liabilities from current assets shown on a company's balance sheet. Current assets include cash, accounts receivable and inventories. Current liabilities include accounts payable, taxes, wages and accrued interest.

Working capital is calculated by subtracting current assets from a company's current liabilities. For example, if a company has current assets of $100,000 and current liabilities of $80,000, its working capital is $20,000.

To calculate the working capital requirement, the following formula can be used: Working Capital (WC) = Current Assets (CA) – Current Assets (CL).

Learn more about working capital here:brainly.com/question/19804046
#SPJ4

8 0
2 years ago
A relevant cost is:_______.
NNADVOKAT [17]

Answer:

b. A cost that differs across decision alternatives.

Explanation:

When managers make business decisions, some costs are incurred when such decisions are made. They are called relevant cost. The main purpose of relevant cost is to avoid duplication of data that are not necessary, which could further make business decisions complicated.

Example of relevant cost is when a business or an organization checks whether or not to sell a business unit. The cost incurred in such decision is called relevant cost.

3 0
3 years ago
?alan used to follow a libertarian leadership style. he recently decided to become stricter toward productivity targets as a res
mote1985 [20]
This is an example of situations shaping how leaders <span>behave.
Alan used to follow a libertarian leadership style, however, the circumstances have made him change his view and behavior towards his employees. Given that there are many fluctuations in the market, he wants his team to be more productive, which is why he needs to change the way he treats them.
</span>
6 0
4 years ago
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