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andreyandreev [35.5K]
3 years ago
12

At the end of a reporting period, ABC determines that its ending inventory has a cost of $300,000 and a net realizable value of

$230,000. What would be the effect(s) of the adjustment to write down inventory to net realizable value?
A) Decrease total assets.
B) Decrease net income.
C) Decrease total assets and net income.
D) Increase retained earnings.
Business
1 answer:
Phantasy [73]3 years ago
6 0

Answer:

Decrease total assets and net income.

Explanation:

There is an inventory write down because the value of inventory has decreased. The net realizable value of inventory is less than its cost.

Inventory write down involves expensing a part of the inventory asset in the current period.

As a result of the write down, inventory would decrease. Inventory is part of total assets. Thus, total assets would decrease

Also, cost would increase because of the write down and so net income would decrease.

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Economic growth is likely to be faster when Group of answer choices higher tax rates are imposed on high income individuals in o
Crank

Answer:

Explanation:

Economic growth is likely to be faster when domestic markets are opened to foreign sellers and foreign investors. Meaning if markets in a country are opened to the sellers outside thè country and also investors the ecomomy will grow because this is bring more money into the system which wiĺ bring more taxes, mkre jobs, more production and also momey in circulation.

7 0
3 years ago
Which of the following teams is more likely to be made up of employees from about the same hierarchical level but different work
statuscvo [17]

Answer:

<u>C) cross-functional</u>

Explanation:

  • Aa per the teams that are made up of the different department of work the cross-functional team will be one that is most likely to be from the same hierarchy level of a flat organization but shows a mix of the finance, IT, human resource and telecom, etc, working towards a common goal.
  • Have a high level of groupthink and periodicity and have a greater depth of information and work in a collaborated form may use, multiple channels
6 0
3 years ago
Rabbits have large ears. infer how this adaptation helps the rabbit meet its needs
BabaBlast [244]
 rabbits have large ears so that they can hear predators coming so they will run and stay alive
8 0
3 years ago
This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of his long and loyal service, th
Zinaida [17]

Answer:

The answer is A) $2,000

Explanation:

According to the IRS Publication 525 (2018), Taxable and Nontaxable Income

<em>"</em><em><u>If you receive tangible personal property (other than cash, a gift certificate, or an equivalent item) as an award for length of service</u></em><em> or safety achievement, you generally can </em><em><u>exclude its value from your income</u></em><em>. However, the amount you can exclude is limited to your employer's cost and </em><em><u>can’t be more than $1,600</u></em><em> ($400 for awards that aren’t qualified plan awards) for all such awards you receive during the year. Your employer can tell you whether your award is a qualified plan award. Your employer must make the award as part of a meaningful presentation, under conditions and circumstances that don’t create a significant likelihood of it being disguised pay." </em>

Ed has to include the $2,000 he received as income but the $250 watch can be excluded.  

8 0
3 years ago
In comparing money to a share of microsoft stock held by an individual, we can say:_______.
Anastaziya [24]

In comparing money to a share of Microsoft stock held by an individual, we can say, only the money is a means of payment, but both are stores of value.

In order to serve as a medium of exchange, money is very widely accepted as a method of payment. When comparing money to a share of Microsoft stock which is held by an individual, it can be said that money is a means of payment, but here the stock and money both are stores of value.

As a store of value, money is not unique as there are many other stores of value exist, such as stocks, land, works of art etc. Money may not even be the best store of value because it depreciates with inflation.

Hence, money is a means of payment, but together with money, stocks can also be stores of value.

To learn more about stocks here:

brainly.com/question/12737015

#SPJ4

7 0
2 years ago
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