U.S. GAAP and IFRS require firms to report trading securities at _____
a. net realizable value on the balance sheet
b. fair value on the balance sheet
c. present value on the balance sheet
d. fair value on the income statement
e. present value on the income statement
B
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Assume that one of the process bubbles in the Purchasing Process - Level 0 Diagram is called "order goods and services." The data flow between "order goods and services" and the "vendor" is called a:
a. purchase order b. receiving report c. stock notice d. inventory notice
XBRL allows highly disaggregated data so not only is it possible to know the level of sales, but it is possible to know sales revenue in much more detail.
Answer the following statement true (T) or false (F)
Which of the following statements are false regarding the way managements ranks capital projects?
a. A high NPV is better than a low NPV. b. A high IRR is better than a low IRR. c. A low PI is better than a high PI. d. A short payback period is better than a long payback period.
Under the accrual-basis of accounting, the wages expense for the time period may not equal the cash paid for wages during the time period
Indicate whether the statement is true or false