The Chair of the Board of Governors of the Federal Reserve System is the chief of the Federal Reserve, which is the central banking system of the United States.
Answer:
$212,000
Explanation:
The cost principle is an accounting concept fro recording asset in the books of accounts. According to this principle, assets should be recorded at the actual price paid for the item. The phrase 'cost principle' is also referred to as the historical cost principle.
In the case of the Donnar company, the amount to be recorded should be $212,000. This is the agreed price. It is the actual amount that the Donner Company will pay for the land. The cost recorded is expected to stay constant unless amended through amortization, depreciation, or appreciation in value.
Answer:
Usage variance=$750
Explanation:
<em>A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite </em>
<em> Pounds</em>
7,800 units should have used ( 7,800× 3) 23,400
but did use <u>23,100</u>
Usage variance 300
× standard price <u>$2.50</u><u> </u>
Usage variance <u> $750</u> favorable
Usage variance =$750
If you did not understand what the term accrual meant and failed to accrue the interest due at the end of the year on the company's bonds then the IMA standards that has been violated is competence.
<h3>What is competence under IMA?</h3>
The IMA has set different standards and they have a responsibility to comply and uphold those standards. These standards are:
• Competence
• Confidentiality
• Integrity
• Credibility Failure
The standard of competence requires maintenance of appropriate level of professional leadership and expertise by enhancement of knowledge and skills.
It also requires performing professional duties in accordance with relevant law, rules, regulations and technical standards.
Competence also requires providing decision support information and accurate recommendations which are clear, concise and timely. It helps in recognition and management of risks.
To know more about IMA standards, visit:
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Answer:
Term bonds - Term bonds refer to bonds with the same maturity date and on that date their face value must be repaid.
Mortgage Bonds - this is a bond that is backed up by real estate as collateral thus giving the holder of these bonds a claim on said real estate.
Debenture bonds - These types of bonds/ debt instruments are not secured by any collateral.
Income bonds - The coupon payments on such bonds are contingent on whether the company makes enough income to pay them in a given period.
Callable bond - These types of bonds are redeemable before the maturity date by the issuer.
Registered bonds - The bondholder's referent information is held by the issuer the main purpose of which is to ensure that payments are going to the right address.
Bearer or coupon bonds - These types of bonds can be transferred from one owner to another as the bond is not recorded in the holder's name.
Convertible bonds - These bonds are convertible into shares in the issuing company.
Commodity-backed bonds - Such bonds are valued based on the value of a certain asset that will be specified in the agreement.
Deep discount bonds - This kind of bond is sold at 80% or less than its face value.
