Answer:
E. January 1, 2017
Explanation:
Financial statements are prepared showing at least two years for the sake of comparability.
It will be important for the company in presenting its financial statement using the IFRS for the year ended December 31st 2018 to show the financial statements for the year ended 31st December 2017 as if it had always applied the IFRS.
The basic idea is to show in the financial statements the effects of adopting the IFRS from a preceding period in order for the entity to show the financial statement for 2017 and 2018 and be able to compare them having been prepared on the same basis.
Thus, the transition date will be the beginning of the preceding period when the IFRS was applied (1st Jan. 2017 oe 31st Dec. 2016).
I hope this explanation makes the concept easy to grasp.
Thank you.
You will have a higher interest and will be in debt for longer
Answer:
correct option is a. Land
Explanation:
given data
land costing = $400,000
subsidiary 2017 = $450,000
land credit = $50,000
solution
While when we consolidating land that will appear in the group asset at the amount of 450,000.
so here the appreciation in the value of land is not realized gain .
so that there will be credit to land with 50,000
so correct option is a. Land
Answer:
The correct answer is A)
Explanation:
When products and or services are manufactured at a level that maximizes social welfare, allocative efficiency is said to have occurred.
A market system characterized as monopolistic competition may <u><em>never </em></u>achieve productive efficiency because firms often fix prices at a point higher than their marginal costs.
Marginal cost refers to the added cost incurred by producing or manufacturing one additional unit of a product.
Cheers!
Answer:
D. rightward shift in the current supply of soybeans.
Explanation:
A shift in the supply curve is caused when factors other than price either increase the supply of a good (a shift to the right), or decrease the supply of the good (a shift to the left).
In this case, a factor other than price, the expectations of farmers (they are expectations because the lower prices have not materialized) has increased the supply of soybeans, causing a rightward shift of the supply curve of that good.
