Both U.S. GAAP and IFRS permit companies to use fair value in reporting available-for-sale and held-to-maturity securities.
Answer the following statement true (T) or false (F)
True
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Pierre LaSaunt needs to make a proposal to a group of engineers. Why has his sales manager instructed him to omit prices from the proposal document?
What will be an ideal response?
Adaptive leadership is a unique kind of leadership in that ______.
A. it focuses on the leader’s behaviors as a reflection of the followers B. it focuses on the dynamics of mobilizing people to address change C. it describes the process of rewards and punishments used in leadership D. it describes the transformational processes in complex organizations
An auditor compares annual revenues and expenses with similar amounts from the prior year and investigates all changes exceeding 10%. This procedure most likely could indicate that:
A. Unrealized gains from increases in the value of available-for-sale securities were recorded in the income account for trading securities. B. Fourth quarter payroll taxes were properly accrued and recorded, but were not paid until early in the subsequent year. C. The annual provision for uncollectible accounts expense was inadequate because of worsening economic conditions. D. Notice of an increase in property tax rates was received by management, but was not recorded until early in the subsequent year.
On November 30, Hernandez Company's bank statement showed an ending balance of $37,341. The following information is available about Hernandez's account:1. Debit memo in bank statement for bank service charge, $392. Deposit in transit, $2,9883. Outstanding checks, $3,1564. Customer's NSF check for $723 was returned with the bank statementRequired:a) Determine the true cash balance as of November 30.b) Determine the unadjusted balance of the company's Cash account as of November 30.
What will be an ideal response?