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Question - The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for the event:
Dinner (per person) $18
Favors and program (per person) $2
Band $2,800
Rental of ballroom $900
Professional entertainment during intermission $1,000
Tickets and advertising $1,300
The committee members would like to charge $35 per person for the evening's activities.
Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
What are some steps taken by both the FASB and IASB to move to fair value measurement for financial instruments? In what ways have some of the approaches differed - What is component depreciation, and when must it be used?
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