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3 years ago

The cost principle requires that when assets are acquired, they be recorded at __________.

1 answer:

4 0

The right answer for the question that is being asked and shown above is that: "d. exchange price paid." The cost principle requires that when assets are acquired, they be recorded at d. exchange price paid<span>
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Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it. Leslie buys the stereo,

Gemiola [76]

Answer:

Yes, because the statement was false.

Explanation:

Breach of warranty is defined as a misrepresentation of the quality or type of a product. The seller fails to fulfil a promise or claim made during a transaction.

When a good is being sold there are certain assertions which the seller must stand behind.

In this scenario Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it.

The fact that the stereo did not have quadrophinic speakers should have been discovered and stated by Mark. The misinformation he got when buying the stereo does not clear him of breach of warranty

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2 years ago

A man in San Rafael County was discovered committing workers' compensation fraud. He had been observed working while at the same

LuckyWell [14K]

Answer:

1. Yes

2. - privacy concerns

- may lack full details.

Explanation:

1. In this scenario the automobile auction house would need to show video evidence of his (San Rafael's) fraud activities to the investigator.

2. Privacy concerns such as how the information gotten from video surveillance is used may pose a challenge.

There's also the reality of a lack of full details. For instance, San Rafael may be deaf a disability that cannot be reflected well on a surveillance video that shows him working.

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2 years ago

Ted failed to disaffirm a contract during his minority or within a reasonable time after reaching majority. The contract was aut

Vlada [557]

Answer:

Ratified

Explanation:

6 0

2 years ago

As discussed in the text, a main purpose of the _______ is to prevent unreliable oral evidence from interfering with a contractu

CaHeK987 [17]

As discussed in the text, a main purpose of the ease contractual negotiations is to prevent unreliable oral evidence from interfering with a contractual relationship.

<h3>What is contractual negotiations?</h3>

Contract negotiation is the process of achieving an agreement on a set of legally binding term. When two companies negotiate, they both seek to secure the best deal and minimize their financial, legal, and operational risks.

Negotiation is essential for advancing in the job, resolving disagreements, and adding value to contracts.

Thus, contractual negotiations is the prevention.

For more details about contractual negotiations, click here

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4 0

1 year ago

Farmland Corporation issued $400,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was

Stells [14]

Answer:

Please see journal entries below

Explanation:

The entries below are made in the books of Farmland Corporation, the issuer of the bond.

Upon redemption, journal entries would be as follows.

Debit: Bond Account $396,000 (cash paid to bond investors)

Credit: Cash/Bank Account $396,000 (cash paid to bond investors)

Debit: Profit/Loss Account $8,000 (premium paid over carrying value of bond, calculated below: )

Credit: Bond Account $8,000 (premium paid over carrying value)

Premium over carrying value is calculated as follows:

Redemption value - carrying value

= $(\frac{redemption price}{carrying price} *face value) - carrying value$

= $(\frac{99}{100} *$400,000) - $388,000$

= $396,000 - $388,000

= $8,000

3 0

3 years ago