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MrRissso [65]
3 years ago
9

A U.S. company has many foreign subsidiaries and wants to convert its consolidated financial statements from U.S. GAAP to IFRS.

Which of the following items is not one of the likely accounting issues to resolve for the opening IFRS balance sheet? Measuring asset impairment. Classifying extraordinary items. Sale and leaseback gain recognition. Measuring salaries expense. Prior service cost recognition for pension amendments.
Business
1 answer:
tiny-mole [99]3 years ago
5 0

Answer: the correct answer is measuring salaries expense

Explanation: US GAAP means Generally Accepted Accounting Principles.

The primary difference between the two systems is that GAAP is rules-based and IFRS is principles-based. GAAP does not allow for inventory reversals, while IFRS permits them under certain conditions. Another key difference is that GAAP requires financial statements to include a statement of comprehensive income.

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Explain how motor vehicle production is a bulk-gaining industry ap human geo
zhannawk [14.2K]

A bulk gaining industry is one where the product gains weight or volume through the production process (the whole is greater than the sum of the parts). Due to logistical and transportation costs it is advantageous to produce bulk-gaining materials closer to where they are sold. This is why foreign car companies (Toyota, mazda, etc) have US-based production plants to save on these costs.

6 0
3 years ago
The school of philosophy that acknowledged the gods but taught that they had no influence on human life and that the principle g
NNADVOKAT [17]

Answer:

The correct answer is letter "B": Epicurus.

Explanation:

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5 0
2 years ago
Which of the following is most likely to be considered a profit center?
likoan [24]

Answer:

A. The grocery department of a Walmart Supercenter or Target Superstore

Explanation:

  • A profit center is a type of business where the business is expected to make into valuable contributions, a profit center can be treated as a separate business of the company.  
  • The profits and losses for that center are calculated separately. Examples of profit centers include the store, sales organization, or consulting organization.
3 0
3 years ago
Which of the following is not a component included in a standard business plan?
Nimfa-mama [501]

A standard business plan will not include an employee summary.

All of the other options are always included in a business plan to assess the feasibility of the venture.

5 0
2 years ago
Read 2 more answers
Over the past year, you earned a nominal rate of interest of 10% on your money. The inflation rate was 5% over the same period.
zimovet [89]

Answer:

exact actual growth rate of your purchasing power was 4.8%

Explanation:

given data

nominal rate of interest = 10%

inflation rate =  5%

solution

we get here exact actual growth rate that is express as

exact actual growth rate = \frac{1+rate\ of\ interest}{1+inflation\ rate} - 1      ..........................1

put here value and we will get

exact actual growth rate = \frac{1+0.10}{1+0.05} - 1

exact actual growth rate = 4.8 %

so here exact actual growth rate of your purchasing power was 4.8%  

3 0
2 years ago
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