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Marina CMI [18]
3 years ago
7

Temporary investments such as in trading securities are a.recorded at fair market value and reported at fair market value b.reco

rded at cost but reported at fair market value c.recorded at cost and reported at cost d.recorded at cost but reported at lower of cost or fair market value
Business
1 answer:
g100num [7]3 years ago
6 0

Answer:

The correct answer is b.recorded at cost but reported at fair market value.

Explanation:

Investments represented in shares and in shares or shares of social interest will be recorded at their historical cost. Other investments, such as bonds, bonds, certificates, etc., will be accounted for at their nominal value. However, in case of differences between the latter and the historical cost, with the purpose of not breaking the basic accounting standard of "valuation or measurement", such differences will be controlled through complementary valuation auxiliary accounts of the investment, specifically in the titles in which the difference is presented. For this purpose, the discount items for amortization or premium for amortization will be used.

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At the beginning of a recession comma which of the following is most likely to be true question mark A. The price level begins t
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Answer:

B. Spending by firms on capital goods is declining.

3 0
3 years ago
What are the two characteristics of a product or service that define quality?
Nata [24]

Answer: Design quality and process quality

Explanation: A product or service is performed through a set of actions, which define whether it is good or bad (quality). Therefore, it can be said that the quality of the product or service, comes from the ability of the organization to respond to the needs and expectations of customers satisfactorily. Designing the quality of the products is the route that the seller follows to satisfy all the needs of the client and the process used for this, which must be thorough to meet the expectations of the customers.

7 0
3 years ago
Blue Enterprises reported cost of goods sold for 2020 of $1,307,500 and retained earnings of $5,383,000 at December 31, 2020. Bl
Sphinxa [80]

Answer: See explanation

Explanation:

Based on the information given in the question, the corrected amounts for 2020 cost of goods sold would be:

= $1307500 + $36930 - $118630

= $1225800

The corrected Retained earnings would be:

= $5,383,000 - $36,930

= $5,346,070

4 0
3 years ago
Christmas Timber, Inc., produces Christmas trees. The trees are produced through a cutting and pruning process. Machine maintena
seropon [69]

Answer:

Cutting = $62,020

Pruning = $16,280

Explanation:

<em>The direct method does not consider the impact of reciprocal servicing arrangement when allocating the overhead  of service centers and only allocates overhead to the production cost centers only.</em>

Allocation of Overhead

Janitorial overhead

Cutting = 6/(6+54)×   $5,000 = $500

Pruning =54/(6+54) ×  $5,000= $4,500

Maintenance overhead

Cutting = 9/(9+1)×   $7,800 = $7020

Pruning =1/(9+1) ×  $7,800= $780

Total cost of production department

Cutting = 54,500 + 500 + 7020= 62,020

Pruning department = 11,000 + 4,500 + 780 = 16,280

Cutting = $62,020

Pruning = $16,280

7 0
3 years ago
A bond represents a contract of indebtedness issued by a corporation that promises payment of a principal amount plus interest a
ohaa [14]

<span>The answer to this question is “TRUE”. A bond is just like a loan. However, the main difference is that with loans, the public is borrowing money from a bank or lending source. With Bonds, the company borrows money from the public. Both have interest rates and payment due based on the terms of agreement.</span>

4 0
3 years ago
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