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Murljashka [212]
3 years ago
13

Financial statements that give effect to a subsequent event as though the event had occurred at the balance sheet date are known

as __________ financial statements.
Business
1 answer:
mojhsa [17]3 years ago
4 0

Answer:

The correct answer to the following question is Pro forma financial statements.

Explanation:

A subsequent event can be defined as an event which takes place after the reporting period, but before the financial statements of a company are issued.  And depending on what kind of event they are like additional information or new events, it will be decided whether these events should be disclosed in a company's financial statement or not.

If it is decided that the subsequent event should be disclosed in the company's financial statement then a pro forma financial statement would be made, in which nature and financial effect of the subsequent event should be disclosed.

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Consider relative purchasing power parity (PPP) and remember the consumer price index (CPI) provides the price level in a countr
pychu [463]

Answer:

0.7156 USD/CAD

Explanation:

Relationship between relative PPP and inflation rates can be expressed as given below:

S(1)/S(0) = (1+I(y)) / (1+I(x))................(1)

==> S(0) = spot exchange rate at the beginning of the time period

==> S(1)  = spot exchange rate at the end of the time period

==> I(y) = expected inflation rate for country y, which is foreign country

==> I(x) = expected inflation rate for country x, which is domestic country.

Here, assumes that the US is a foreign country and Canada is domestic country

I(y) = (200/165) - 1 = 21.21%

I(x) = (220/170) - 1 = 29.41%

On putting the values of I(x) and I(y) in the first equation, we get:

S(1)/0.764 = (1+0.2121) / (1+0.2941)

S(1)/0.764 = 0.9366354996

S(1) = 0.764*0.936635

S(1) = 0.7156 USD/CAD

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4 0
3 years ago
Saving is:a) the difference between real GDP and disposable income while savings is the difference between disposable income and
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Answer:

b

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Saving is the difference between disposable income and consumption

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for example, if disposable income is $1000 and consumption is $600. Saving is $400

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The management of Krach Corporation would like to investigate the possibility of basing its predetermined overhead rate on activ
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= (Machine hours at capacity - Actual machine hours) x Overhead speed estimated at load.

= ( 24,000 - 12,000) x $1.4.

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