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3 years ago

Define what is meant by the phrase "planning materiality threshold"

1 answer:

7 0

<span>Define what is meant by the phrase "planning materiality threshold".

Planning materiality threshold is defined as the complete materiality level for the financial statements in internal control. The auditor will establish a materiality level that is best based on the situation regarding the nature, extent and timing of the audit procedures. </span>

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Consider four types of markets: monopoly, perfect competition, oligopoly, and monopolistic competition. If they were ranked from

artcher [175]

Answer:

Monopoly

Oligopoly

monopolistic competition

Perfect competition

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.

examples of monopolistic competition are restaurants

A monopoly is when there is only one firm operating in an industry. there is usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.

An example of a monopoly is an utility company

An oligopoly is when there are few large firms operating in an industry. there is high barriers to entry and exit of firms

5 0

3 years ago

Swifty Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-val

Hitman42 [59]

Answer:

the inventory value is $267,000

Explanation:

As we know that the inventory is valued at cost or market whichever is lower

As seen from the given information, the lesser value for all products are

Product A $87,000

Product B $58,000

Product B $122,000

So, the total is

= $87,000 + $58,000 + $122,000

= $267,000

hence, the inventory value is $267,000

5 0

3 years ago

Ski Safety sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its co

Digiron [165]

Answer:

The correct answer is the option A: cost-focus.

Explanation:

To begin with, a <em>cost-focus strategy</em> is the name given to a type of strategy defined by Michael Porter in competitive advantage in order to establish a strategy whose main purpose is to focus on a low price regarding the prices of the competitors in a narrow market. Therefore that in this case Ski Safety is pursuing a cost-focus strategy because the company is looking forward to compete in a narrow market thanks to a low price.

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4 years ago

Marigold Corp. enters into a contract with a customer to build an apartment building for $1,069,900. The customer hopes to rent

muminat

Answer:

$1,193,562

Explanation:

Calculation to Determine the transaction price for this contract.

First step is to calculate the probabilities

Probabilities

August 1, 2021 =70 % *$153,300

August 1, 2021 =$107,310

August 8, 2021= 20%*$51,100

August 8, 2021= $10,220

August 15, 2021 =6%*$102,200

($153,300-$51,100)

August 15, 2021 =$6,132

After August 15, 2021= 4%*$0

After August 15, 2021= $0

Now let calculate the transaction price for this contract.

Total transaction price =$1,069,900+ $107,310+$10,220+$6,132+$0

Total transaction price =$1,193,562

Therefore the transaction price for this contract will be $1,193,562

4 0

3 years ago

"Many Coca-Cola bottlers increase the price of Coke because the price of corn syrup (an important ingredient in Coke production)

Lana71 [14]

Answer:

Explanation:

5 0

4 years ago