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Under IAS 2, what adjustment needs to be made after an inventory write-down if the selling price subsequently increases? a. It should be sold at the replacement cost. b.Recovery of inventory loss should be debited to reflect the increase in inventory value. c.The inventory write-down should be reversed to bring it in line with the new net realizable value. d.No adjustment is necessary. Once inventory is written down, it cannot be increased under IASB standards.
someone owns a mutual fund that reinvests dividends and capital gains earned during the year. the mutual fund reported
tampa foundry began operations during the current year manufacturing various products for industrial use. one such
what is the purpose of a bank reconciliation? what are the reasons for differences between the cash reported in the
the stock of columbia dance academy is currently trading at 25 per share. the firms dividend yield is 10. what is the
darlene projects that she can get 180000 cash per year for 5 years on a real estate investment project. if darlene
louis industries normally produces and sells 5000 keyboards for personal computers each month. variable manufacturing
why should related party transaction be disclosed for a nonprofit organization arent we all working towards the common
In the current year, Blue Corporation (E & P of $1 million) redeems 100 shares from Eleanor for $290,000 in a transaction that does not qualify for sale or exchange treatment. With respect to the redemption, Eleanor will have a:
a firm is considering several policy changes to increase sales. it will increase the variety of gods it keeps in
blimie corporation was organized on january 3 2012. blimie was authorized to issue 50000 shares of common stock with
When you request the additional information from the client, she tells you that she has no more documentation and that is all you can be given.
On their joint tax return, their taxable income is $100,000. How much of a marriage penalty or benefit will Maria and Tony experience in 2010?
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