Answer:
C: sometimes primary and sometimes secondary.
Explanation:
When formulating accounting principles, the Securities and Exchange Commission’s role is sometimes primary and sometimes secondary.Securities and Exchange Commission has the responsibility to develop accounting standards which has to be enforced by public companies and they also consistently looked to the private sector for assistance in it. The securities and exchange commission retains the authority to establish the standards which formulate by them.
Answer:
The correct answer is B. benchmarking.
Explanation:
Benchmarking is a continuous process by which the products, services or work processes of leading companies are taken as a reference, to compare them with those of your own company and then make improvements and implement them.
It is not about copying what your competition is doing, but learning what leaders are doing to implement it in your company by adding improvements. If we take as a reference those who stand out in the area we want to improve and study their strategies, methods and techniques for post
Answer:
Correct Option is B) Rochester Income Increase, Reedsburg Income No effect
Explanation:
As per IFRS,
When a company holds share of any company up to 20% then it is an associate, and in this case Rochester holds only 15% and thus will increase its net income with dividend received. (Cost method is followed)
When a company holds more than 20 % and less than 50% then the equity method is followed until and unless major significance is not exercised, generally it is exercised. In that case equity method is followed, and any income received is adjusted from cost of investment, and do not form part of income.
The answer is attached in form of text file below giving solution to each of the question parts in detail.
Answer:
The correct answer is option (a).
Explanation:
According to the scenario, the computation of the given data are as follows:
Amount = $10,000
Interest rate = 6%
So total interest amount = $10,000 × 6% = $600
So, the cash amount = $10,000 - $600 = $9,400
So, it shows increase in cash for $9,400.
The journal entry for the given data are as follows:
Cash A/c Dr $9,400
Interest A/c Dr $600
To Notes payable A/c $10,000
(Being the Notes payable is recorded))
