The permission level that Christoper is planning to use is
prudent. It is because in this type of permission level, this will allow Christoper
to do the things he wants to do such as not having to do other activities and
only allows the reasonable ones to be done.
Answer:
Option D. Under US GAAP provision refers to a liability whose amount or timing is uncertain.
Explanation:
Option A is correct because both the US GAAP and the IFRS has the same definition of the revenue which is the income from the core operation of the company and trade receivables are the receivables arising due to the core operations of the company which is same in the both cases.
Option B is also correct because the criteria for the recognition of assets that also applies to receivables is same.
Option C is correct because realization principle under GAAP and IFRS is the same which says that the revenue must only be recognized once the consideration agreed has been delivered by the organization.
Option D is incorrect statement because the under US GAAP, provisions are the liability whose amount and timings can be estimated easily.
Option E is correct because the US GAAP specifically focuses on the industry wide differences and encourages implementation of their set rules as they are more reliable than IFRS in such conditions. However IFRS has eliminated these discrepancies now so these are equally reliable as US GAAP.
Answer:
The first gap is for Debit
The second gap is for credit
Explanation:
In accounting, Debit side(Dr) is always on the left side and credit side(Cr) is always on the right side.
The table is usually like 'T'
Debit side increases asset and expenses while credit decreases assets and expenses.
Also, Debit side decreases liability, equity and revenue while credit increases liability, equity and revenue
Answer:
Move Oriented Firms are where transport cost is the prevailing component for area choice. Transport cost contains Procurement Cost (PC) and Distribution Cost (DC).
(a) Total cargo cost will be the whole of PC in addition to DC.
Complete Freight Cost =
Complete Freight Cost =
In the event that we take a gander at the expense limiting alternative in the above table for the firm then it ought to situate at zero separation where the expense is least at 100. Absolute cost will increment as the estimation of x increments.
(b) If peripheral obtainment cost is zero for all the separation alternatives (1 to 10) at that point it shows that PC stays zero independent of the separation between Resource (R) and Market (M). The all out cost will be:
TC = PC + DC
TC =
TC =
The table will be as underneath:
The firm would situate at separation of 10 miles where the absolute expense is least at 50.