A trader who sells food does not include food that is past its 'sell by' date in

Question:

A trader who sells food does not include food that is past its 'sell by' date in his stock in the Balance Sheet.

Which concept has he applied in valuing his stock?

A. Matching

B. Prudence

C. Realisation

D. Going concern

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

See More Books

Question Posted: Aug 27, 2023 09:04 AM

See More Questions

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
An analyst predicted the following: 1. Sales of $1,276 million. 2. Core profit margin of 5 percent. 3. Asset turnover of 2.2. 4. Core other operating income and unusual items are zero. The firm's...
MadHatter manufactures baseball caps. The Accounting Faculty of PSU order 150caps for the Accounting 211 students with ALOE imprinted on them. Mad Hatter has the following set of standards for the...
Consider each situation described below. Identify the population and the sample, explain what the parameter p or represents, and tell whether the methods of this chapter can be used to create a...
Meagan and Jenny are in partnership, sharing profits equally. Provision exists in the partnership agreement for charging interest on capital at the rate of 8% p.a. and interest on drawings at 10%...
Denton Equipment Inc. furnishes you with the following list of accounts. Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 66,000 Accounts Receivable . . ....
Question 1 Which class is needed to read data from the console? Input System Reader Scanner 1 pts
A business is about to be closed down as it has insufficient funds to pay its creditors. The owner places a very low value on his stock in the Balance Sheet. Which concept is being applied? A. Going...
The following information has been extracted from a Balance Sheet at 31 December 2003. What was the balance on Capital account at 31 December 2003? A. $300 000 B. $320 000 C. $340 000 D. $350 000...
Apart from the exclusion equivalent, should tax planners recommend that all estate assets be transferred to the surviving spouse, if the goal is to transfer resources to successive generations? What...
Discuss some examples of the conflicts of interest that may arise between bondholders and stockholders when a firm is in financial distress.
Are stock valuation models like the Dividend Discount and Constant Growth models better methods to determine a stock's intrinsic value than using a simple P/E Multiple approach? Growth investorsseek...
How do I calculate a break even analysis when I am looking at two compensation plans?
Define the unemployment problems in Cameroon Africa. What population is affected by the unemployment? Where are the affected individuals located within the country? What are the resulting...
What factors do you think contribute to the disparities in health among ethnic, socioeconomic, and gender groups in Ethiopia? Explain with example
Sample: 6, 52, 13,49, 35, 25, 31, 29, 31, 29 Find the population variance and standard deviation or the sample variance and standard deviation as indicated.
A report from the college dean indicates that for the previous semester, the grade distribution for the Department of Psychology included 135 As, 158 Bs, 140 Cs, 94 Ds, and 53 Fs. Determine what kind...
Will the elimination of trade barriers between countries in Europe eliminate the need to consider submarkets of European consumers? Why or why not?
What and who is the U.S. government attempting to protect in its effort to preserve and regulate competition?
For each of the major laws discussed in the text, indicate whether in the long run the law will promote or restrict competition. As a consumer without any financial interest in business, what is your...
Assume Fairprice.com began September with 14 units of inventory that cost a total of $266. During September, Fairprice.com purchased and sold goods as follows: View the purchases and sales. Under the...
On January 1, 2021, Wilke Corp. had 480,000 shares of common stock outstanding. During 2021, it had the following transactions that affected the Common Stock account. Issued 120,000 shares February 1...
Mickley Company's plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $11.00 per hour. The following information pertains to Job A-500: Direct...

A trader who sells food does not include food that is past its 'sell by' date in

Question:

Step by Step Answer:

The trader who does not include food that is past its sell by date ...View the full answer

Accounting A Level And AS Level

Students also viewed these Business questions