Answer:
Stock is valued at lower of : cost or market price [prudence principle]
Explanation :
Prudence or Conservatism is an accounting principle : anticipating for all possible losses & expenditures, not anticipating for possible profits & gains. This makes business better prepared to face all contingent expenditures/ losses.
This concept's implication is that : Stock or Inventory is valued at the value whichever is lesser between 'cost of inventory' & sale price. This makes inventory valuation as per the above explained Prudence/ Conservatism principle.
Answer:
No
Explanation:
The trial balance shows the totals of all transactions that have been recorded. It has no way of knowing if there are additional transactions that have not been recorded.
You don't need to cha Change a thing, that will be the best move if I were to be in your position
Answer:
d. Michaela and her team create goals that balance the strengths, roles, and responsibilities of individual team members.
Explanation:
Development of team goals is most effective when the set targets are effectively being achieved by the team as a whole.
This entails that each team member contribute their own quota to the process.
The whole team is now involved in execution of planned actions.
The best statement that portrays this is: Michaela and her team create goals that balance the strengths, roles, and responsibilities of individual team members.
Answer:
B) The Law of Demand
Explanation:
The correlation between the volume demanded, and the price of a good is explained by demand law. As per this law, price and the quantity demanded have an indirect or inverse relationship. An increase or decrease in price results in quantity demanded moving in the opposite direction.
Should the prices of a product or service increase, its demand falls.
