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Brilliant_brown [7]
3 years ago
11

"Sherry says, "All the paperwork is filled out wrong. We have to do everything over again." June replies, "No, I see at least th

ree forms that are filled out correctly. We won't have to do it all again. Just most of it, probably." Which of the following statements are know to be true from what is presented above:"
a. Sherry advances a sound deductive argument.
b. Sherry does not advance an argument.
c. Sherry is right and June is wrong.
d. June advances an inductive argument.
e. June advances a deductive argument.
Business
1 answer:
Zolol [24]3 years ago
6 0

This statement June advances an inductive argument is know to be true from what is presented above

Explanation:

A strong argument is an inductive reasoning that is meant to be strong enough to make it impossible for the conclusion to have been false whether the premises were correct.

Therefore, success or effectiveness of an inductive argument is, unlike deductive argument, a matter of perspective.

Inductive arguments should take vast forms. Some people have the form of making claims on a population or only based on information from either a sample, a subset. Some mediated arguments draw conclusions through an appeal, authority or causal relationship.

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ACME Drilling is evaluating an offshore oil-drilling platform for possible impairment. The company estimates the following: book
alekssr [168]

Answer:

ACME Drilling should record impairment loss of $6.9 million

Explanation:

According to GAAP, when the fair value of an asset is below the net carrying amount of that asset ( Asset's historical cost - Asset's accumulated depreciation or the net book value of the asset), the Company should record it as asset impairment loss.

In ACME's case, the net book value is $18.6 million while the estimated fair value is only $11.7 million meaning that the platform is actually worth less than it is recorded on ACME's book. Thus, an impairment loss of $6.9 million should be recorded ( $18.6 million - $11.7 million) to realize the fair value of the oil-drilling platform.

The sum of projected sum of future cash flows in this case is not suitable to be used to determine the oil-drilling platform because it has not been discounted to the present value amount, and also, it is not appropriate under GAAP.

6 0
3 years ago
If the form of a will is made orally, and written down by a witness, how is it called?
kvv77 [185]
<span>If the form of a will is made orally, and written down by a witness, it is called </span>nuncupative (non-culpatory) - meaning oral or dictated; often limited to sailors or military personnel.
6 0
3 years ago
Seaside issues a bond with a stated interest rate of 10%, face value of $50,000, and due in 5 years. Interest payments are made
mars1129 [50]

Answer:

Total $46,319.9565

Explanation:

We need to calculate the value of the present value of the bond payment

and the maturity using the current market rate

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 2500 (50,000 x 0.10/2)

time 10 (5 years 2 payment per year)

rate 0.06     (12% annual --> divide by 2 to convert semiannual)

2500 \times \frac{1-(1+0.06)^{-10} }{0.06} = PV\\

PV $18,400.2176

\frac{Maturity}{(1 + rate)^{time} } = PV

Maturity 50000

time 10

rate           0.06

\frac{50000}{(1 + 0.03)^{10} } = PV

PV   $27,919.7388

PV bond interest payment  $18,400.2176

PV maturity payment       $27,919.7388

Total $46,319.9565

3 0
3 years ago
You think about it for a long time when someone hurts your feelings.
netineya [11]

Yeah hurts but you’ll be okay soon enough :) lol

4 0
3 years ago
Drew Co. uses the average cost inventory method for internal reporting purposes and LIFO for financial statement and income tax
Xelga [282]

Answer:

Dr Cost of Goods Sold  20,000

Cr LIFO Reserve           (20,000 )

Explanation:

<u>Journal Entr</u>y    

Dr Cost of Goods Sold  20,000

Cr LIFO Reserve                 (20,000 )

<u>Ending Balances after adjustment</u>:  

 

<u>Stocks</u>:

Inventories        375,000

<u>LIFO Reserve   </u>  <u> (55,000 )</u>

Total:                   320,000   ( Financial Statement and Income Tax compliance )

 

8 0
3 years ago
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