The internal control procedures in Dayton Company result in the following provisions.Identify the principles of internal control that are being followed in each case.(a) Employees who have physical custody of assets do not have access to the accounting records.Select the principle of internal control Independent internal verificationDocumentation proceduresEstablishment of responsibilityPhysical controlsHuman resource controlsSegregation of duties(b) Each month, the assets on hand are compared to the accounting records by an internal auditor.Select the principle of internal control Human resource controlsPhysical controlsEstablishment of responsibilityDocumentation proceduresSegregation of dutiesIndependent internal verification(c) A prenumbered shipping document is prepared for each shipment of goods to customers.Select the principle of internal control Physical controlsIndependent internal verificationHuman resource controlsSegregation of dutiesDocumentation proceduresEstablishment of responsibility
Answers
(a) Employees who have physical custody of assets do not have access to the accounting records - Segregation of duties
(b) Each month, the assets on hand are compared to the accounting records by an internal auditor - Independent internal verification
(c) A prenumbered shipping document is prepared for each shipment of goods to customers - Documentation procedures
What is the segregation of duties?The idea of assigning a task to more than one person is known as separation of duties. Organizations use it as an administrative measure to guard against security breaches such as fraud, sabotage, theft, and information misuse.
Everyone in the business has access to the documents that describe your documented procedures. They detail every action that must be taken and consistently repeated for specific tasks.
Data prepared by employees is examined, compared, and reconciled as part of independent internal verification. Verification should be conducted on a routine basis or on an unexpected basis.
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Related Questions
Mova Motors Inc. enters the Asian market and conducts a thorough analysis of the local marketing conditions such as the characteristics and buying situations of consumers. The company realizes that the buying behavior of the majority of middle-income families is similar. It divides the market into distinct groups based on the purchasing power of consumers and decides to pursue the middle-income families. In this scenario, the company is ______. Multiple choice question. distributing products through indirect channels diversifying its product line using a promotional push strategy focusing on a market segment
Answers
Answer:
r
Explanation:
(a) OCBC Bank is offering an interest rate of 7% per annum for fixed deposit account holder. The minimum deposit amount is RM10,000. If you had deposited RM20,000 into the fixed deposit account today, how much would it be worth 10 years later. Compute total returns using compound interest method and draw the cashflow diagram.
Answers
Given that OCBC Bank is offering an interest rate of 7% per annum for fixed deposit account holders. The minimum deposit amount is RM10,000. If someone had deposited RM20,000 into the fixed deposit account today, how much would it be worth 10 years later.
We have to compute the total returns using the compound interest method and draw the cash flow diagram. Compound interest is the interest added to the principal amount of a loan or deposit. It is calculated by adding interest to the principal amount so that the interest that has been added also earns interest.
A deposit of RM20,000 is made in a fixed deposit account that pays 7% interest annually. The interest rate is compounded annually, and the deposit has a term of 10 years. We must calculate the worth of the fixed deposit account after ten years.
The interest rate is 7% per annum, which means that the interest rate for the year will be 7/100 = 0.07. The deposit of RM20,000 would earn an interest of 7% per annum for the entire 10 years, using compound interest.
Thus, FV = 20,000 x (1 + 0.07/1)^(1*10) = 20,000 x 1.96715 = RM 39,343 Compound interest formula can be used to calculate the total interest earned over ten years as follows: Total Interest (I) = FV - P = RM39,343 - RM20,000 = RM19,343.
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Which will you likely have to provide on college applications?
A. Personal information
B. Career plans
C. Employment history
D. Parent's level of education
Answers
hey this is for thebeauty4evr19 so don't take it or im reporting u
Answers
Answer:
ty
Explanation:
Which term describes a country that has relatively high ratings for per capita income, GDP, and standard of living?
Answers
An advance economies is what describes the country that has relatively high ratings for per capita income, GDP and standard of living
What is called an advance economies?This refers to the economies that have a high level of per capita income, a varied export base, and a financial sector that's integrated into the global financial system.
In other word, the advance economies is also called a developed economies and it is related to countries with relatively high levels of economic growth and security are considered to have developed economies. The common criteria for evaluation include income per capita or per capita gross domestic product.
Therefore, the Option A is correct.
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Because susans standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal
government if she follows through on filing her 1040 form
Answers
Note that if Susan's standard deduction is greater than the amount she made, it means her taxable income is zero. If she had any taxes withheld from her paychecks throughout the year, she would be eligible for a full refund of those taxes.
What is the rationale for the above response?Assuming Susan is a single taxpayer under the age of 65 and not claimed as a dependent on anyone else's tax return, her standard deduction for tax year 2022 (filing in 2023) would be $12,950.
If Susan's total income for the year is less than or equal to $12,950, she would owe no federal income tax and would be eligible for a full refund of any federal income tax withheld from her paychecks or estimated tax payments she made throughout the year.
The exact amount of her refund would depend on how much federal income tax was withheld from her paychecks or paid in estimated tax payments throughout the year. Susan can determine the amount of her refund by completing her tax return using Form 1040 and any other applicable forms and schedules.
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Sean works at Rowen Corp., an environmentally conscious apparel manufacturing company. He primarily focuses on the tastes and needs of the firm's customers. He achieves this by managing a team that regularly interacts with customers through various promotional activities and events. He also provides insights on how to produce eco-friendly outfits through his specialized knowledge of cost-efficient manufacturing processes. This implies that Sean:_______.a) is an HR professional.
b) encourages centralized decision making.
c) is a knowledge worker.
d) encourages a narrow business focus.
e) belongs to the external labor market.
Answers
Answer:
c) is a knowledge worker
Explanation:
A knowledge worker is an individual who is skillful, experienced, educated and whose duty is to apply his or her thinking creativity on the job. According to Peter Drucker, a knowledge worker is someone who is innovative and creative in terms of developing new products and services and one who always find a better way of doing things.
The job of a knowledge work is very complex hence involves expertise on the subject field. A knowledge worker most often develop new ideas and strategies to meeting needs of people rather than focusing on manual and repetitive work. Example of knowledge workers includes but not limited to engineers, scientists, physicians, lawyers etc.
I want to be a Architect or vet does anyone know what i should choose for GCSE's.
Answers
Answer:
for me I want you to choose vet because I love animals
Explanation:
But follow your heart it's your choice choose wisely
Complete the following. (Value: 2 x 5= 10 marks) The following interoffice messages are too long and too formal to be effective as electronic transmissions to others on the same computer network. Revise each message to make it direct and less formal-that is, appropriate for electronic communication. Make sure that each message contains 50 or fewer words in one paragraph. 1. In an effort to stimulate sales, we are hosting demonstrations for special clients here in the Eastern Region. In Ontario, we will sponsor a demonstration in Niagara Falls, one in Oshawa, and one in Ottawa. These three demonstrations will be held in March. In New Brunswick, we plan to sponsor two demonstrations. One will be held in Edmundston; the other will be in Saint John. These demonstrations are tentatively scheduled for April. In Québec, the demonstrations will be in Hull and Montreal-tentatively set for May. A schedule of dates and times is forthcoming. We will distribute the "final" schedule of demonstration times and dates, as well as the names of the hotels, during the next month or so. 2. Many employees have been requesting information concerning extended medical benefits for themselves and their families. Connors Worldwide Insurance, which provides our employees with their company-paid insurance has several attractive packages available to any interested employee at reasonable costs. Employees who are interested can pay the cost of premiums through payroll deductions. If you feel that you might need some additional insurance above and beyond what the company now offers, by all means be sure to get more information on the specific packages available and the cost of each. For more information, contact Gretchen Heinz in the Benefits Department. Gretchen's extension is 4384.
Answers
The following interoffice messages are too long and too formal to be effective as electronic transmissions to others on the same computer network.
1. We're hosting demos for select clients in the Eastern Region. In Ontario, demos will be held in Niagara Falls, Oshawa, and Ottawa in March. In New Brunswick, we'll have 2 demos in April - Edmundson and Saint John. In Québec, we'll host demos in Hull and Montreal tentatively in May. Dates and times are coming soon.
2. Many employees want information on extended medical benefits. Connors Worldwide Insurance has attractive packages available at a reasonable cost. If you're interested, you can pay premiums via payroll deductions. If you want more information, contact Gretchen Heinz in Benefits. Gretchen's extension is 4384.
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The length of time for which a business summarizes financial information and reports its financial performance is called :__________
Answers
A fiscal term is the duration of time for which a company analyzes its financial information and reports its financial performance.
What exactly is the distinction between a financial statement and a financial performance?The balance sheet, income statement, and statement of cash flows are financial statements that are used to evaluate overall financial performance. Financial performance indicators are quantitative measurements used to assess how well a company is performing. The income statement, balance sheet, and statement of cash flows are all needed financial statements. These three statements are instructive tools that traders can use to examine a company's financial soundness and provide a fast picture of a company's financial health and underlying worth. Financial performance is a comprehensive assessment of a company's entire position in areas such as assets, liabilities, equity, expenses, revenue, and overall profitability.
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You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answers
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".
Income tax that is payable to the federal government is collected by the
.
who ever anwer is marked brainlist
Answers
Answer:
Guy above is 100% correct, I put IRS and got 5/5!
Explanation:
The US Supreme Court did what in Piscataway Board of Education v. Taxman, 521 U.S. 1117, 117 S.Ct. 2506 (1997)?
Answers
Answer:
The case was never heard in the United States Supreme Court.
Explanation:
The board of education of Piscataway High School, New Jersey desired to remove one teaching position from the Business Education department. A hindrance to this was the fact that the two teachers being considered had indefinite appointments, and were equal in seniority. According to the state law, tenured teachers can be relieved of their duties in reverse order of seniority. Either Sharon Taxman, a white teacher, or Debra Williams an African-American teacher were to be relieved of their positions.
Taxman was chosen because African-Americans were a minority. Taxman contested this in the court. The case was never heard at the U.S Supreme court because some civil rights group wanted the case to be settled out of court. The United States Court of Appeal ruled in favor of Taxman.
Which type of data does your company collect from customers or potential customers?
Answers
Answer:
primary data
Explanation:
I dont really know about this but im think this is the answer
Compute the PI statistic for Project Q if the appropriate cost of capital is 12 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places. )
Project Q
Time: 0 1 2 3 4
Cash flow –$12,800 $4,250 $5,080 $4,970 $3,050 PI
Should the project be accepted or rejected?
Answers
The PI statistic for Project Q is 0.30. Since the PI is less than 1, it means that the project is not expected.
To compute the PI (Profitability Index) statistic for Project Q, we need to calculate the present value of its cash flows using a discount rate equal to the appropriate cost of capital of 12%.
\(P_{v}\) = CF0 + CF₁/(1+r)¹ + CF₂/(1+r)² + CF₃/(1+r)³ + CF₄/(1+r)⁴
where CF0 is the initial cash flow (negative in this case), CF₁ through CF₄ are the cash flows in years 1 through 4, r is the discount rate, and PV is the present value of the cash flows.
Plugging in the values from the problem, we get;
\(P_{v}\) = -12800 + 4250/(1+0.12)¹ + 5080/(1+0.12)² + 4970/(1+0.12)³ + 3050/(1+0.12)⁴
\(P_{v}\) = -12800 + 3772.32 + 4068.13 + 3594.87 + 1884.73
\(P_{v}\) = $3819.05
The PI statistic is calculated as the present value of the future cash flows divided by the initial investment;
PI = \(P_{v}\) / CF0
PI = 3819.05 / 12800
PI = 0.2984
Therefore, the PI statistic for Project Q is 0.30.
Since the PI is less than 1, it means that the project is not expected to generate a positive net present value at the 12% cost of capital. Therefore, the project should be rejected.
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Vegan Steaks had the best year ever, with sales of $4,500,000 and operating profit of $950,000. The balance sheet at the beginning of the year showed assets used in production with a cost of $20,000,000 and accumulated depreciation of $5,000,000. The company didn't buy any assets during the year but did have depreciation expense of $1,000,000. Calculate the ROI for the year. Calculate the End of Year book value.
Answers
The ROI for the year to Vegan Steaks would be 6.55 %
The End of Year Book value would be $ 14,000,000
How to find the ROI for the year ?To find the ROI for Vegan Steak's year, you need to find the end of year book value of assets which is:
= 20,000,000 - 5,000,000 - 1,000,000
= $ 14, 000, 000
Then find the average assets :
= (15, 000, 000 + 14, 000, 000) / 2
= $ 14, 500, 000
The ROI or return on investments is:
= Operating Profit / Average assets
= 950,000 / 14,500,000
= 6. 55 %
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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the rock of gibraltar is featured in the logo of which company?
Answers
The Rock of Gibraltar is featured in the logo of Prudential plc, a British multinational life insurance and financial services company.
Prudential plc, commonly known as Prudential, has been using the Rock of Gibraltar in its logo since 1989. The logo is a symbol of strength and stability, as well as the company's global reach. The Rock of Gibraltar is a natural fortress and has been a strategic location for centuries, making it a fitting symbol for a company that provides financial security to its clients. The logo has been updated over the years, but the Rock of Gibraltar remains a constant presence, representing the company's commitment to its customers and its long history of success.
The Prudential Financial logo has stood the test of time and is easy to spot. The Rock of Gibraltar was chosen as the company's symbol in the 1860s, and the first logo featured a drawing of it and the inscription "The Prudential Has the Strength of Gibraltar."
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JohnBoy Industries has a cash balance of $42,000, accounts payable of $122,000, inventory of $172,000, accounts receivable of $207,000, notes payable of $117,000, and accrued wages and taxes of $35,500. How much net working capital does the firm need to fund?
Answers
The net working capital the firm needs to fund is $146,500. It is important for a company to have a sufficient amount of Net Working Capital to run its business smoothly. Inadequate working capital may lead to financial problems and may hinder the growth of the company.
Net Working Capital refers to the difference between the assets and the liabilities of a company. In other words, it is the amount of funds required by a company to operate its business smoothly. It is the amount of money required by a business to meet its financial obligations. It helps in the efficient functioning of a business. It is the difference between current assets and current liabilities.
Given,
Cash balance = $42,000
Accounts payable = $122,000
Inventory = $172,000
Accounts receivable = $207,000
Notes payable = $117,000
Accrued wages and taxes = $35,500
Net Working Capital (NWC) = Current Assets - Current Liabilities
Current Assets = Cash balance + Inventory + Accounts receivable
= $42,000 + $172,000 + $207,000
= $421,000
Current Liabilities = Accounts payable + Notes payable + Accrued wages and taxes
= $122,000 + $117,000 + $35,500
= $274,500
Net Working Capital (NWC) = $421,000 - $274,500
= $146,500
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In the résumé above, what would cause appearance of the "00000000000"?
Answers
The “ 00000000000” on the résumé could be an error, but I believe that it means that they do not have any experience and/or objectives.
(Edit): Hi! I just completed my test and I got a 100 by using this
The resumes were scanned, and the formatting changed the way they looked when they were converted to text. Under "Objective" in this instance, there was an underlining that changed to "000000000000."
What is Formatting ?
The presentation or appearance of your essay is referred to as formatting. Layout is another term for formatting. Headings, regular paragraphs, quotations, and bibliographic references are the four text types that the majority of essays use. Both endnotes and footnotes are acceptable.
If the paper is double or single spaced, where the page numbers are placed, and whether a cover page is included or not are examples of formatting. Different formatting conventions call for different sets of rules.
By dividing information into sections and giving them headings, emphasizing essential phrases or concepts using bold, italics, or lists, and generating a strong first impression, formatting also increases the reader's accessibility to the content (professional look and feel, appropriate font choice for the document type).
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____ are the fundamental duties of a job.Essential job functionsMinimum job elementsDominant KSAs
Answers
Essential job functions refer to the core responsibilities and duties that are fundamental to a particular job.
These functions are the primary reason the job exists and are necessary for the job to be performed successfully. Essential job functions typically cannot be removed or altered without significantly changing the nature of the job. It is important to identify essential job functions in job analysis, as they provide the basis for determining job qualifications, performance standards, and reasonable accommodations for individuals with disabilities.
Essential job functions also serve as a basis for compliance with various employment laws and regulations, such as the Americans with Disabilities Act (ADA).
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We have been discussing the structure of and tools used by the Federal Reserve Bank (Fed). If it were up to you, what directions would you give to the Fed regarding policy goals and targets. Would you change the current Fed?; Leave it alone?; Close it?...
Answers
Answer:
The description is summarized in the clarification portion below, and according to the particular context.
Explanation:
Throughout the banking as well as the financial system of the United States of America, the Fed would be a leading organization. The Fed has dual inflation stabilization goals and maximum jobs. For some of these two Federal Reserve goals, there seems to be a clear compromise. The equilibrium between any of these two must be created. The US economy is running well above potential output, but in such a situation, the Fed should keep a watchful eye on a future current price increase, or market stabilization would have to be a goal.Therefore, because the Fed would be a monetary policymaker, it would rely more on inflation stabilization. Jobs factors may also be tackled by monetary policies. In other words, the Fed should give great importance to market stability instead of full jobs. The Fed becomes currently operating independently and therefore its activity is free of political intervention, so it must function like this. This wouldn't be the best measure to shut the Fed. Since the Fed figured prominently in mitigating the detrimental consequences of the 2008-2009 crisis. With the aid of the Fed, long term financial crises or inevitable crises will be stopped comfortably.List 10 effective methods used to maintain employment.
Answers
Answer:
I don’t know that I would call them methods - a better word might be behaviors. And I don’t know if I can come up with ten.
Never be late for work and never leave early to go home. If you must leave early (or you know you’ll be coming in late the next day) be sure to tell your boss first.Dress appropriately and respectfully for the job. Always start the day wearing clean clothes.Be respectful of your bossDo every assignment to the best of your ability. When you are finished, let your boss know and ask what you can do next rather than waiting to be told (unless you know what to do next).Don’t whine or complain about the work assigned to youTry to constantly learn more about your job and apply what you learn to do your job betterDon’t badmouth your fellow employees (unless specifically asked by your boss)When it doesn’t severely impact your work, try to help out your fellow employees if they need it - especially the newer onesKeep your work area organizedDon’t be afraid to make constructive, non-critical suggestions to your fellow employees or even your boss, but be sure the suggestions are well-researched and carefully thought outWhich of the following statements about GDP is correct?
(i) Nominal GDP is the aggregate value of all final goods and services at current prices, whereas real GDP is the aggregate value of all final goods and services at constant prices.
(ii) Nominal GDP is the aggregate value of all final goods and services at constant prices, whereas real GDP is the aggregate value of all final goods and services at current prices.
(iii) Nominal GDP is the aggregate value of the production measured by the cost of all the resources used in the production process, whereas real GDP is the aggregate value of the production at market prices.
(iv) Nominal GDP is the aggregate value of the production at market prices, whereas real GDP is the aggregate value of the production measured by the cost of all the resources used in the production process.
Answers
(i) Real GDP is the sum of all final goods and services valued at constant prices as opposed to nominal GDP, which is the total worth of all final goods and services at current prices.
Real GDP: What is it?A country's actual gross domestic product (GDP), which is inflation-adjusted, is used to calculate the total annual output of goods and services for that country. Prices from the base year are used to express real GDP.
It is also known as GDP adjusted for inflation, GDP adjusted for constant dollars, and GDP adjusted for constant prices. In its most basic form, real GDP gauges a nation's total output while taking price fluctuations into account.
What is the nominal GDP?
When someone uses the phrase nominal gross domestic product, they're referring to GDP calculated using today's market values. GDP measures a nation's total output of goods and services in terms of money. Because price changes brought on by inflation are not included in nominal GDP, it differs from real GDP.
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Give a proper definition of money.
Answers
Answer:
Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction costs, namely the double coincidence of wants. Money originates in the form of a commodity, having a physical property to be adopted by market participants as a medium of exchange. Money can be: market-determined, officially issued legal tender or fiat money, money substitutes, and fiduciary media, and electronic cryptocurrencies.
Explanation:
a company’s _ tells you how much money the company has left over after subtracting all expenses
Answers
Answer:
A company's net profit tells you how much money the company has left over after subtracting all expenses.
Explanation:
A net profit, is when all of the companies money is spent on the things they need... and then it shows you what is left over. A company's profit is called net income or net profit. Net profit or income, is the total money remaining after accounting all of the cash flows, positive and negative numbers included.
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An accountant passed the closing entries of the expenses and then closed all the expense accounts by crediting them. Which account should she debit to complete the dual aspect of the journal entry?
A.
income account
B.
income summary account
C.
revenue account
D.
purchase account
E.
equity account
Answers
Answer: Income Account
Explanation:
Also referred and Income Statement.
Answer:
Income summary account
Explanation:
which of the four Ps of marketing are the most important to the
launch of a new product or service and why.
Answers
When launching a new product or service, all four Ps of marketing (Product, Price, Place, and Promotion) are important, but the significance of each may vary. In this context, the Product and Promotion elements often hold greater importance.
The Product is the foundation of the launch, as it represents the offering itself. Developing a high-quality, innovative, and customer-centric product or service is crucial for capturing attention, generating interest, and satisfying customer needs. A well-designed product that offers unique features or solves a specific problem is key to gaining a competitive advantage.
Promotion is equally vital as it creates awareness, generates excitement, and drives initial sales. Effective promotion through advertising, public relations, digital marketing, and other channels helps communicate the value and benefits of the new offering to the target audience. Engaging and persuasive promotional efforts can create buzz, build brand recognition, and stimulate customer interest.
While Product and Promotion are pivotal, Price and Place should not be overlooked. Setting the right price is crucial for market acceptance and profitability. It involves considering factors such as production costs, competitive pricing, and perceived value. Determining the right distribution channels and ensuring accessibility in the right places also plays a crucial role.
Taking a comprehensive and integrated approach to all four Ps is vital to successfully launch a new product or service. A strong product, effective promotion, competitive pricing, and accessible distribution work in tandem to create a compelling offering, attract customers, and achieve market success.
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According to IFRS, the deferred tax consequences of revaluing held-for-use equipment upward is reported on the balance sheet:
a. as a liability
b. as an asset
c. in stockholders' equity
Answers
According to IFRS, the deferred tax consequences of revaluing held-for-use equipment upward is reported on the balance sheet: b. as an asset
According to International Financial Reporting Standards (IFRS), the deferred tax consequences of revaluing held-for-use equipment upward are reported on the balance sheet as an asset.
When a company revalues its equipment upward, it recognizes a gain in its income statement. However, for tax purposes, this gain is not immediately recognized and will only be realized when the equipment is sold or disposed of. Therefore, the company will have to pay higher taxes in the future, which is known as a deferred tax liability.
On the other hand, if the revaluation of the equipment results in a decrease in future tax payments, then the company would have a deferred tax asset. Deferred tax assets represent potential tax benefits that the company can utilize in the future.
In summary, the deferred tax consequences of revaluing held-for-use equipment upward are reported on the balance sheet as an asset or liability depending on the expected impact on future tax payments. Option B
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According to IFRS, the deferred tax consequences of revaluing held-for-use equipment upward is reported on the balance sheet as stockholders' equity. The Option C.
Why are they eported in stockholders' equity?Under International Financial Reporting Standards (IFRS), when held-for-use equipment is revalued upward, the resulting deferred tax consequences are reported in stockholders' equity on the balance sheet.
This treatment reflects the accounting principle that deferred taxes should be recognized as an element of comprehensive income and directly recorded in equity. By reporting the deferred tax consequences in stockholders' equity, the financial statement users are provided with a clear and transparent view of the impact of revaluation on the overall equity position of the entity.
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If you put $7000 in a saving account that earns 2% interest for 10 years, how much will you have in
total in 10 years?
2. If you put $2,000 in a savings account that earns 1% interest for 5 years, how much will you have total
in 5 years?
3. If you put $1500 in a savings account that earns 3% interest for 7 years, how much will you have in
total in 7 years?
4. If you put $2000 in a savings account that earns 1% interest for 15 years, how much will you have
total in 15 ye
Answers
Answer:
1) 56,000
2) 9,950
3) 8,479
4) 25,500
Explanation:
1)20% of 70.000=56.000
2)5% of 10.000=9.950
3)21% of 10.500=8.479
4)15% of 30.000=25.500