Unrealized holding gain denotes the difference between the
a. current replacement cost of the inventory and its acquisition cost.
b. selling price of the inventory and its original acquisition cost.
c. acquisition cost of the inventory and its net realizable value.
d. selling price of the inventory and its net realizable value.
e. none of the above.
A
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There are very important differences between U.S. and international standards regarding contingencies. Even the terms used to refer to situations with unknown outcomes differ. Explain these differences
Indicate whether each of the following statements is true or false.In making a decision to eliminate a segment of a business, managers should compare differential revenues for the segment to its avoidable costs._____Eliminating one segment of a business generally has no effect on the other segments._____Eliminating one segment of a business has no effect on the customers of the other segments._____The opportunity cost, alternative use for facilities, should be considered in deciding whether to retain a segment of a business._____A decision to eliminate a segment of a business is likely to have long-term consequences because re-establishing the segment might be difficult._____
What will be an ideal response?
Harrison Manufacturing has the following product information available: Sales price $50 per unit Variable costs $26 per unit Fixed costs $87,600 If Harrison is in the 35% tax bracket, how many units need to be sold in order to earn an after-tax target profit of $260,000?
A) 16,667 units B) 14,483 units C) 22,282 units D) 20,317 units
Capital assets used by an enterprise fund should be accounted for in the
A. Governmental activities journal and depreciation on the capital assets should be recorded. B. Business-type activities journal but no depreciation on the capital assets should be recorded. C. Enterprise fund and depreciation on the capital assets should be recorded. D. Enterprise fund but no depreciation on the capital assets should be recorded.