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vodomira [7]
2 years ago
13

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight-digit Codific

ation citation (XXX-XX-XX-X) for accounting for each of the following items: Required: 1. Reporting most changes in accounting principle. 2. Disclosure requirements for a change in accounting principle. 3. Illustration of the application of a retrospective change in the method of accounting for inventory.
Business
1 answer:
Rzqust [24]2 years ago
8 0

Answer:

1. Reporting most changes in accounting principle.

FASB ACS 250-10-45-5.

Title - "Accounting changes and Error corrections - Overall - Other presentation matters - Change in Accounting principle"

2) Disclosure requirements for a change in accounting principle:

FASB ACS 250-10-50-1 :

Title - "Accounting changes and Error corrections - Overall - Disclosure - Change in accounting principle"

3) Illustration of the application of a retrospective change in the method of accounting for Inventory :

FASB ACS 250-10-55-3

Titles - "Accounting changes and Error corrections - Overall - Implementation guidance and Illustrations -Retrospective application of a change in Accounting principle."

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Answer:The value of cars produced by a Japanese company are part of United States Gross Domestic Product (GDP) as long as the cars are produced in a factory located within U.S. territory.

The reason why is that GDP includes the final value of all goods and services produced within a country, during a specific period of time (usually a year). If the cars are produce in U.S. territory, they are counted as part of U.S. GDP, even if the company is from Japan or any other country.

Explanation:

8 0
2 years ago
In a planned economy what predicts the demand of goods and services and coordinates the appropriate level of production of these
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Answer:

The government

Explanation:

In the command economy, the government makes all economic decisions in the country. The command economy is also known as the command centrally planned economy. A central authority, which is the government decides what products will be manufactured, and they will be distributed.

The government makes economic plans for the country that outlines the level of production. It allocates resources required for production as per the plans. The government though its different agencies, owns the factors of production.

8 0
3 years ago
Ari, Inc. is working on its cash budget for December. The budgeted beginning cash balance is $23,000. Budgeted cash receipts tot
xenn [34]

Answer:

The business will need to borrow $34,000

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D is the correct answer.

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