Answer:
C. Letter C; demand exceeds supply, resulting in a shortage
Explanation:
I had put my answer as A on the test and got it wrong. But this is the correct answer C.
Answer:
currently there will be no benifits because of the Corona Virus because the stock market is crashing.
Answer:
Not only does IAS 2 norm allow this, also US GAAP allows this. I believe that the reasoning behind that is the following:
Holding precious metals in inventory is actually considered an investment. Precious metals are commodities, and since they can be easily traded around the world, just having them increases a company's wealth. The revenue recognition principle (top of the inverted pyramid) applies here even to any individual that finds gold nuggets by accident in the country side (no need to be a mining business). The fact that you possess gold increases your personal assets and net wealth. The same applies to other precious metals. This happens because gold or other precious metals can be easily converted into cash (extremely liquid), e.g. this same individual can go to a local jewelry or or a pawn shop and sell the gold nuggets he found.
If finding a gold nugget increases an individual's net worth, then imagine what holding a ton of gold does to a company. What makes gold and silver so special is that they are accepted everywhere. Remember that until the early 1970s, the worlds' currencies were based on the price of gold (gold standard). Most central banks in the wold hold gold reserves and they also follow this same logic. Price of gold increases, the wealth of the nation increases.
The definitions for the following terms are explained below.
Explanation:
A. Quantity Demanded is the amount of a good that buyers are willing and able to purchase at a given price.
B. Demand Cure is a graphical representation of the relationship between the price of a good that buyers are willing and able to purchase at various prices.
C. Demanded Schedule is a table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices.
D. Law Of Demand is to claim that, other things being equal, the quantity demanded of a good falls when the price of that good rises.
<span>An Exception Report identifies data outside of normal conditions. </span>
