1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lbvjy [14]
4 years ago
15

According to the FASB conceptual framework, certain assets are reported in financial statements at the amount of cash or its equ

ivalent that would have to be paid if the same or equivalent assets were acquired currently. What is the name of the reporting concept?
Business
1 answer:
Crank4 years ago
3 0

Answer:

Replacement cost

Explanation:

According to the Financial Accounting Standards Board (FASB), if the amount is paid for acquiring or purchasing the asset or replacing the asset the cost we called is known as replacing cost

The replacing cost arises when the company needs a more valuable asset than the previous one which produces a less number of items instead of producing more items.

So, according to the given situation, the replacement cost is an appropriate answer

You might be interested in
Brown Co. pays weekly salaries of $10,500 on Friday for a five-day workweek ending on that day. Assuming the end of the accounti
ra1l [238]

Answer:

c.credit to Wages Payable for $6,300.

Explanation:

The journal entry to record the wages expense is shown below;

Wages expense dr ($10,500 × 3 ÷ 5) $6,300

      To Wages payable $6,300

(being the wages expense is recorded)

Here the wages expense is debited as it increased the expense and credited the wages payable as it increased the liabilities

8 0
3 years ago
How much interest you pay depends on_________
Damm [24]

Answer:

The Interest Rate and how much you owe.

Explanation:

If you have a rate of 10% a month

and you owe $100, the next month you owe $110

or if you owe $50, then next month you owe $55

6 0
3 years ago
Compared to a country with an MPS of 0.05, a country with an MPS of 0.2 would have to change government expenditures by ________
const2013 [10]

Answer: Four times.

Explanation:

Based on the information given, the government expenditure multiplier in this case goes thus:

K = ∆Y/∆G = 1/1-MPC = 1/MPS

For the first country with a MPS of 0.05, K = 1/MPS = 1/0.05 = 20

For the first country with a MPS of 0.2, K = 1/MPS = 1/0.2 = 5

Therefore, 20/5 = 4.

Therefore, the answer is four times.

8 0
3 years ago
A building that settles unevenly after an earthquake is evidence of _____.
Viefleur [7K]
The Answer Is In Fact "Liquefaction".

Hope I Helped :) 
4 0
3 years ago
Read 2 more answers
A market researcher divides the Dallas metropolitan area into blocks having roughly equal populations. He then selects a random
stira [4]

Answer: . two-stage area

Explanation:

In two-stage specimen sampling, a simple random sample of specimen is selected and then a simple random sample is selected from the units in each sampled specimen. Two-stage sampling is used when the sizes of the specimens are large, making it difficult or expensive to observe all the units inside them.

7 0
3 years ago
Read 2 more answers
Other questions:
  • The nine-digit number that identifies the bank that a check came from is called a(n) _____. A.account number. B.bank number. C.c
    7·2 answers
  • On january 2, 2017, orange corporation purchased equipment for $300,000 with an ads recovery period of 10 years and a macrs usef
    8·1 answer
  • England has a relatively cool and cloudy climate that is ill suited for grape growing. It can produce 200 units of wine for ever
    14·1 answer
  • Jingfei, an employee of Chinese origin, works as a sales representative at Global Recyclers International. Her supervisor, Ralph
    9·1 answer
  • Strict product liability is the doctrine that the seller of a product has legal responsibilities to compensate the user of that
    6·1 answer
  • The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances
    10·1 answer
  • Office Depot promises an exceptional online shopping experience, free delivery for purchases over $35, buy-online-collect in sto
    13·1 answer
  • Why is international trade important for SA?
    15·1 answer
  • Capacity management, denominator-level capacity concepts. Match each of the following numbered descriptions with one or more of
    7·1 answer
  • Hoffman Corporation issued $80 million of 7%, 10-year bonds at 104. Each of the 80,000 bonds was issued with 11 detachable stock
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!