Answer:
FALSE
Explanation:
The FASB, GASB, and FASAB do not all focus their standards on both internal and external financial reporting.
The GASB - Governmental Accounting Standards Board and the FASB - Financial Accounting Standards Board, tend to focus more on external users of financial information while the FASAB - Federal Accounting Standards Advisory Board tend to focus on both internal and external users of financial information.
Answer:
Option 2 is best option on the basis of present value analysis of all the options available.
Explanation:
Option 1 NPV = ($2.21 Annual Inflow * 6.814 Annuity Factor 12 year @10%) = $15.06m
Option 2 NPV = $19.5m
Option 3 NPV = $5.4m + ($1.7m Annual Inflow * 6.145 Annuity Factor for next 10 years @10%) = $15.85m
From the above options the best option available is option 2 which is worth more in todays prices than other options available.
Answer:
a. the ease with which an asset is converted to the medium of exchange
Explanation:
Liquidity measures how quick an asset can be converted to cash.
Money, cash is the most liquid asset. This is why it can be easily used as a medium of exchange.
Real estate is considered illiquid because it cannot be easily converted to cash.
Stocks are relatively liquid because they can be quite easily converted to cash.
Velocity measures how many times a dollar circulates in a given year.
Money can be used to measure the intrinsic value of a commodity.
Answer:
a. Letter
Explanation:
A letter is written communication from one party to another. Letters are written on a designated paper, put in an envelope and send either by post or hand-delivered.
A letter can be formal or informal. Daniel should write a formal letter to his boss informing him of his resignation. Should Daniel write a letter, It will an official document in the company. The company will be file the document appropriately and will stay intact for many years.
Daniel can also keep a copy of the letter for himself. A letter has an advantage over the other electronic options. Electronic records can be deleted permanently or get lost should the systems collapse.