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DENIUS [597]
3 years ago
11

Explain the reason for not reporting property and equipment at fair value except in specified circumstances. What do our OER tex

tbook authors say is normally used as a guideline
Business
1 answer:
Alecsey [184]3 years ago
8 0

Answer and Explanation:

Property, Plant and Equipment(PPE) are reported are reported at book value in the balance sheet statement. Over it's useful life, depreciation is allocated as expense to PPE and accumulated depreciation is calculated for total of depreciation expense to get net book value(cost less depreciation expense). PPE is only reported at fair value when it is going to be sold or it is damaged/impaired asset. Otherwise it is not useful to report PPE at fair value in the statement.

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It’s been a crazy couple days at the car lot. Jerry, a potential customer, had been to the lot four times this week and said he
Novosadov [1.4K]

Answer:

In the clarification segment below, the definition including its concern is mentioned.

Explanation:

The following definition of a contract is:

"A purchase contract is a legitimate contract. These are meant to sell or purchase goods as well as products services again for purpose of trading a commodity or service. For a negotiated (price) compensation or sum of money received or offered to pay.

"Legally, void requires not contractual."

Voidable becomes a contract or action that is legitimate but may be canceled in the contract by either of several parties.

"A contract constitutionally binding upon the sides being valid and binding."

The following are the most important integration strategy:

  • <u>Void</u>: Verbal deal involving Jerry, a prospective buyer who planned to buy a project runway Corvette but expired of a heart condition-Void as when the deal was verbal even though there was no thought or money transfer. Besides, financial agreements and billing information have not yet been developed.
  • <u>Voidable</u>: If the boy wishes to break the deal, a contract for a young boy obtaining a Chevy besides $5000 remains voidable because he's under the age of eighteen years, he is not technically permitted to agree as well as the contract becomes voidable.
  • <u>Voidable</u>: The circumstance of a lady buying a property (car), and therefore by suggesting that she took too long to make a choice, you forced her to start making decisions. She sells the car and advises you that she has psychosis become voidable if you have influenced her and therefore can sign court papers, although, in this situation, the seller manipulated her to make those decisions and therefore can argue that the seller forced her.

7 0
3 years ago
A financial services firm decided to assess the return on its social investment in an educational program in local schools. As p
zepelin [54]

Answer: value creation

Explanation: In simple words, value creation refers to the process in which an organisation assess its results of any activity or an operation dun, to assess whether the expected results are achieved for improvement or not.

Value creation is done by the organisation to gain better results in their overall operation for a long time. This process can be done by any organisation for any subject like improving technical skills, administrative skills or for knowledge improvement etc.

Hence from the above we can conclude that the correct option is D.

6 0
4 years ago
Suppose Ike’s Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is
Naddika [18.5K]

The short-run average total cost of Ike's Bikes of producing 100 bikes is $360.

<h3>What is the short-run average total cost ?</h3>

The short-run is a production period where some of the factors used in the production process are fixed and others are variable. The  short-run average total cost is the total cost divided by total output. Total cost is the sum of fixed cost and variable cost.

Please find attached the complete question. To learn more about average cost, please check: brainly.com/question/26959638

6 0
2 years ago
Jamie has been renting a ranch in Montana for years, but is ready for a change of scenery. She doesn't want to terminate her con
Ann [662]

Answer:

Acceptance

Explanation:

Since in the situation it is given that Jamie renting a ranch for a years to Montana but she is ready for change of scenery. also she dont want to end the contract entirely so instead of ending the contract she asked the same to his brother. His brother agrees to the contract so here the given situation represent an example of an acceptance as he is ready and responsible to the terms of the contract

5 0
3 years ago
The substitution effect: Multiple Choice predicts that taxpayers will work harder to pay for consumer products when tax rates in
maw [93]

Answer:

None of these is correct

Explanation:

The substitution effects is the decrease in sales for a product that can be attributed to consumers switching to cheaper alternatives when its price rises. The substitution effect is based on the idea that as prices rise, consumers will replace more expensive items with cheaper substitutions or alternatives, assuming income remains the same.

6 0
3 years ago
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