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vladimir2022 [97]
2 years ago
5

Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:

Business
1 answer:
vfiekz [6]2 years ago
3 0

Answer:

The following are the answers to the question, using the FASB Acounting Standards Codification at the FASB website:

1. Topic 260, FASB Accounting Standards Codification is the topic number (Topic XXX) that provides the accounting for earnings per share.

2. FASB ASC 260-10-50-1

3. FASB ASC 260-10-50-2

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Barriers to International Trade Countries often use various government regulations to manipulate the amount of goods and service
lisabon 2012 [21]

Answer: Please refer to Explanation

Explanation:

1. Embargoes and sanctions

When a trade embargo or sanctions are in play, depending on the strength of the nation or International organisation that imposed it, countries are not allowed to trade with the country that is under an embargo. Sometimes the trade embargo can be on all products and sometimes just specific sectors are targeted. An example is the current United States embargo on Venezuela which targets their oil sector and as such most countries are avoiding buying Venezuelan oil.

2. Tariffs

This is a method of reducing the amount of a certain good imported from outside. Tariffs are usually introduced to protect the domestic producers and supplier in an economy and work by taxing imports or placing a customs duty on them. They are usually imposed when the imports are cheaper than domestic Production.

3. Import Quota

Another way to protect the domestic economy. In this scenario, a country allows the import of a certain good only up to an extent for a period which is usually a year. For instance, the United States in this scenario could say that in 2020 only 500 megatons of Aluminum are allowed into the country from China. After that, no more is allowed until 2021.

4. Tariff.

This is a Tariff and as earlier explained, is meant to protect the domestic producers by taxing imports that are cheaper.

5. Import Quota.

This is clearly an import Quota as earlier described because the country is limiting the amount of a certain good that can come into it.

6. Embargoes and Sanctions.

This is a clear example of an embargo. The United States is limiting the amount of goods exported to North Korea because they are under sanctions and embargoes. The United States and Western nations do not want to export anything to North Korea that could aid it's Nuclear Industry so it is a targeted embargo on their nuclear industry.

4 0
3 years ago
Answer the following statement true (T) or false (F).
Mars2501 [29]

Answer:

False

Explanation:

Igor did nothing wrong. He performed a reverse engineering process which is totally legal. A reverse engineering process happens when a manufactured object is deconstructed in order to find out how it was designed or manufactured.

This process is very similar to scientific research, only that it is carried out on man made objects.

5 0
3 years ago
To keep your business plan up-to-date, it should be revised every
Rufina [12.5K]

Answer:

A-month

Explanation:

by revising it monthly, it is the most up to date and can be consistently helpful to you as well as organized.

4 0
2 years ago
On January 1, 2021, Laramie Inc. acquired land for $6.2 million. Laramie paid $1.2 in cash and signed a 6% note requiring the co
stepladder [879]

Answer:

The amount Laramie should record the purchase of land is <u>$6.2 million</u>.

Explanation:

The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.

The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.

If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.

Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.

From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.

Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.

6 0
3 years ago
Suppose that businesses buy a total of $170 billion of the four resources (labor, land, capital, and entrepreneurial ability) fr
Delicious77 [7]

Answer:

The businesses paid $24 billion in entrepreneurial ability. This value comes from subtracting the wages, rent and interest from the total amount of businesses' purchase. In this case 170 - 88 - 24 - 34 = 24.

Explanation:

This value can be understood as goodwill that households are recognized for their ideas and can bring a future return to the businesses. The businesses had assessed the future stream of cash the household could bring and, basing our guess on businesses behaving rationally, and they found that 170 was an amount that will recognize these future opportunities

8 0
3 years ago
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