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Arte-miy333 [17]
3 years ago
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:
Business
1 answer:
Vitek1552 [10]3 years ago
7 0

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.

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Banks use a large percentage of their checkable deposits for the purpose of __________.
KiRa [710]

Answer:

B. giving loans

Explanation:

The reserve requirement system requires commercial banks to maintain a small fraction of their deposits as a reserve. Only a small percentage of the checkable deposits is required to be held in the banks as reserves. The reserves requirement fractions vary with the monetary policy in place.  

The percentage of reserve requirement ranges from 3% to 10%. It would hardly get to 20%. The rest other bigger percentage ( over 80%) is available to be used to create loans.

4 0
3 years ago
Read 2 more answers
"tractor is a modern tool of agriculture".justify this statement with suitable example​
Elenna [48]

Answer:

Tractors are the king among different farm equipment. They are the main workhorse of any modern farm. They provide the power and traction necessary to mechanize agricultural tasks. ... There are different types of tractors in the market, varying in size and capacity.

Explanation:

3 0
2 years ago
Ivanhoe Company issued $1520000 of 6%, 5-year bonds at 95, which pay interest annually. Assuming straight-line amortization, wha
Mashutka [201]

Answer:

the journal entry to record bond issuance:

Dr Cash 1,444,000

Dr Discount on bonds payable 76,000

    Cr Bonds payable 1,520,000

amortization of discount on bonds payable = $76,000 / 5 = $15,000

coupon payment = $91,200

total interest expense per year = $106,200

total interest expense for the 5 year period = $106,200 x 5 years = <u>$531,000</u>

<u />

6 0
3 years ago
Alan, 46, and Donna, 33, are filing a joint return for 2019. Neither is blind, and neither can be claimed as a dependent. They d
maksim [4K]

Answer:

$24,400

Explanation:

Assuming that Alan and Donna are married and they decide to file their taxes together, the standard deduction for 2019 taxes was $24,400.

The standard deduction increases if you or your spouse is over 65 years old, or if any of you is blind. The standard deduction generally increases a little bit every year, e.g. during 2018 it was $24,000 and for 2020 it is $24,800.

8 0
3 years ago
Why does the quantity of public college education determined in a free market (without government intervention) represent a mark
Elan Coil [88]

<u>Because the </u><u>equilibrium quality </u><u>chosen by the market would be lower than the level that most people would consider desirable, the quantity of public college education determined in a free market (without government intervention) is a</u><u> market failure.</u>

How does government intervention lead to a collapse of the market?

  • Lack of information, market regulation, public goods, and externalities can all contribute to market failure.
  • Government intervention, such as new laws, taxes, tariffs, subsidies, and trade restrictions, can be used to fix market failures.

How does the market for education fail?

  • Due to systematic undervaluation of the roles of motivation and engagement by educational policy, there is a significant market failure in the context of education.
  • Lack of metrics for those qualities and ignorance of their potential usefulness serve as examples of this undervaluation.

Learn more about market failures

brainly.com/question/13123538

#SPJ4

5 0
1 year ago
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