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lbvjy [14]
3 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:
Crank3 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

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11. What are assets?
vampirchik [111]
Financial accounting, an asset is any resource owned by a business or an economic entity. It is anything that can be owned or controlled to produce value and that is held by an economic entity and that could produce positive economic value.
I hope this helps
7 0
3 years ago
Read 2 more answers
Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: Number o
gladu [14]

Answer:

$303

Explanation:

The computation of the absorption costing unit product cost is shown below:

= Direct materials per unit + Direct labor per unit + variable manufacturing overhead  per unit + Fixed manufacturing overhead per unit

= $149 + $112 + $7 + $35

= $303

Working note:

The Fixed manufacturing overhead per unit is measured below:

= Fixed manufacturing overhead ÷ Number of units produced

= $301,000 ÷ $8,600 units

= $35

6 0
3 years ago
Who's ultimately responsible for determining the role a licensee is expected to play in any transaction?
Nesterboy [21]

The broker of record is ultimately responsible for determining the role a licensee is expected to play in any transaction.

When an insurance company pays an agent a monthly commission to manage and represent a policyholder's insurance policy, that agent is known as a broker of record. Two parts of this position include liaison work for the policyholder and communication.

A broker of record in the context of insurance is an agent chosen by the policyholder to represent and administer the policy. All correspondence to the policyholder may be copied by the broker of record, who may also accept quotations, policies, and notices on the policyholder's behalf. One of the most potent and frequently misused legal documents in the insurance sector is the Broker of Record (BOR) letter. Unfortunately, a lot of unethical brokers get uninsured people to sign this.

To know more about Broker of Record refer to:  brainly.com/question/24278535

#SPJ4

6 0
1 year ago
________ appeals help consumers make purchase decisions by offering factual information that encourages consumers to evaluate th
Anika [276]

"Informational" appeals help consumers make purchase decisions by offering factual information that encourages consumers to evaluate the brand favorably on the basis of the key benefits it provides.

<h3>What is informal appeals?</h3>

A corporate message typically substitutes data and figures for a main notion. A business message should make sure to properly state any significant dates, locations, times, etc.

The powerful business report can be written as-

  • Business reports always are formally presented, impartial, and thoroughly researched. If the study focused on a specific issue or analyzes the actual quality of a whole organization, every data must be accurate and reliable.
  • A business report must be objective, therefore stay away from stating to the reader how and where to feel in your descriptions.
  • Let the sales statistics speak for itself, rather than saying something like "Sales were bad last quarter," if last quarter's sales were down. Person pronouns, such as "I believe we should invest that money," should also be avoided.
  • A business report must to be objective and presented from the viewpoint of the company.

To know more about parts of a business report, here

brainly.com/question/11599232

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5 0
1 year ago
Assume that each unit demanded generates $70 in revenue and that each unit ordered costs $50. How much will the company gain or
Vanyuwa [196]

Answer:

Note: The full question is attached as picture below

a. Let X is denoted as company’s monthly demand, P(X=x) is denoted as the probability of the company’s monthly demand.

The expected value is obtained below:

E(X) = (300*0.20) + (400*0.30) + (500*0.35) + (600*0.15)

E(X) = 60+120+175+90

E(X) = 445

b. The expected value of the monthly demand is 445. The each unit demands the revenue to generate is $70 and their cost is $50.

The gain/loss of the company = (300*(70−50)) - (145*50)

The gain/loss of the company = (300*20) - (145*50)

The gain/loss of the company = 6,000 - 7,250

The gain/loss of the company =−$1,250(Loss)

4 0
2 years ago
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