What level are inputs for estimating fair values are based on inputs that are readily available via prices for identical assets or liabilities in actively traded markets such as securities exchanges?
a. Level 1.
b. Level 2.
c. Level 3.
d. None of these.
A
You might also like to view...
An example of adaptation in global marketing communications is:
A) Ford's One-World Ford Contour car B) not selling the McRib sandwich in Israel because it violates religious practices C) printing ads only in English for European countries D) using direct mail
The correct term for the process of transferring amounts from a book of original entry to specific assets, liabilities, revenues, expenses, and stockholders' equity items is
a. Double-entry system b. Recording c. Credit d. Posting
Organizations must decide if they are going to have a ______ philosophy or a longevity philosophy.
A. evaluation B. assessment C. performance D. seniority
Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:a.The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit. b.Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. c.The ending finished goods inventory equals 20% of the following month's sales. d.The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound. e.Regarding raw materials purchases, 30% are paid for in the month
of purchase and 70% in the following month. f.The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours. g.The variable selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80,000. The budgeted sales for May is closest to: A. $950,000 B. $1,725,000 C. $1,312,500 D. $1,612,500