Which of the following is/are not true regarding inventories when their replacement cost declines below acquisition cost?
a. Both U.S. GAAP and IFRS require firms to write down inventories when their replacement cost, or market value, declines below acquisition cost.
b. Accountants refer to the inventory as impaired and to this valuation as the lower-of-cost-or-market basis.
c. The journal entry to record the inventory impairment results in a loss and a new balance sheet carrying value that is the lower of cost or market value.
d. U.S. GAAP permits firms to recognize subsequent value increases, as long as the new value remains less than the original acquisition cost.
e. IFRS permits firms to reverse previous impairments, up to the amount of the original acquisition cost of the inventory, if the circumstances that caused the inventory impairment no longer exist.
D
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a. The leader could select the follower himself. b. The leader could select the follower with others who have input in the selection process, such as human resource officials. c. The leader could be placed in a situation where followers already exist. d. chance
If the random variable X has a uniform distribution between 40 and 50, then P(35 ? X ? 45) is:
a. 1.0 c. 0.1 b. 0.5 d. undefined.
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A) Cellular networks B) Internet telephony C) The World Wide Web D) Software as a web service E) TQM
What is the IRS (Internal Revenue Service) and what does it do?
What will be an ideal response?