Which of the following should not be included in the inventory of a company using IFRS? a
Question:
Which of the following should not be included in the inventory of a company using IFRS?
a. Goods held on consignment from another company.
b. Goods shipped on consignment to another company
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
b The reason b should not be included is because it does not meet ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
Question Posted:
Students also viewed these Business questions
-
The following is a list of items that may or may not be reported as inventory in Keesa Corp.'s December 31 balance sheet: l. Goods out on consignment at another company's store 2. Goods sold on an...
-
On December 31, according to the accounting records, the inventory balance is $650,000. The following information was not included when determining that amount. Which of the following should be...
-
Jack Penny Company identifies the following items for possible inclusion in the physical inventory. Indicate whether each item should be included or excluded from the inventory taking. (a) Goods...
-
In September, Larson Inc. sold 45,000 units of its only product for $438,000, and incurred a total cost of $405,000, of which $43,000 was fixed costs. The flexible budget for September showed total...
-
What will happen to a. The equilibrium level of employment and why? b. Potential GDP? The government is considering raising the tax rate on labour income and asks you to report on the supply-side...
-
The yearly average solar flux incident on a horizontal surface in the United States is about \(180 \mathrm{~W} / \mathrm{m}^{2}\). The average total energy demand in the United States is...
-
What is the difference between fees and costs?
-
Restate the following question component of the issue in a persuasive manner. A. "should the evidence be suppressed when . . . ?" In the case, the police failed to obtain a search warrant prior to...
-
Knowing that the internal diameter of the hollow shaft shown is d= 1.3 in., determine the maximum shearing stress caused by a torque of magnitude 7 = 3 kip-in. 1.8 in. Tmax = ksi
-
Canyon Canoe Company has experienced rapid growth in its first few months of operations and has had a significant increase in customers renting canoes and purchasing T-shirts. Many of these customers...
-
PepsiCo's financial statements are presented in Appendix B. Financial statements of The Coca-Cola Company are presented in Appendix C. The complete annual reports of PepsiCo and Coca-Cola, including...
-
The management of Gresa Inc. is reevaluating the appropriateness of using its present inventory cost flow method, which is average-cost. The company requests your help in determining the results of...
-
In Problems 2342, graph each function. Use the graph to investigate the indicated limit. lim f(x), f(x) = lnx x-1
-
Consider two carts moving on a track. The first cart has a mass of m, and the second has a mass of 3m. The first mass is moving at a velocity v towards the second, which is stationary. After the...
-
JuneJulyActivity level in units 1 0 , 0 0 0 2 0 , 0 0 0 Variable costs$ 2 0 , 0 0 0 ? Fixed costs 1 5 , 0 0 0 ? Mixed costs 1 0 , 0 0 0 ? Total costs$ 4 5 , 0 0 0 $ 7 0 , 0 0 0 Assuming that these...
-
Vaughn Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Per Units Unit Price Total Balance, 1/1/20 200 $4.00 $800 Purchase,...
-
An ordinary light bulb consumes 60 W of power. Through what height could a 1000-N object be lifted expending the same amount of power for 6 hours?
-
For the function evaluate the left and right limits as x -2. Provide your answer below: a. lim f(x)= x-2 b. lim f(x)= x--2 2x2+2x if x < -2 f(x) = { -2x-1 if x-2'
-
Easecom Company is a manufacturer of videoconferencing products. Regular units are manufactured to meet marketing projections, and specialized units are made after an order is received. Maintaining...
-
ABC company leased new advanced computer equipment to STU Ltd on 1 January 2019.STULtd has to pay annual rental of $290,000 starting at 1 January 2019. It is a four years lease with ultimate rental...
-
The following information is for Filimonov Industries, Inc: Determine the contribution margin for(a) Cake hand-held video games and (b) West Region East West Sales volume (units): 19,000 Sea 22,500...
-
The actual price for a product was $56 per unit, while the planned price was $50 per unit. The volume decreased by 40,000 units to 820,000 actual total units. Determine. (a) The sales quantity factor...
-
The actual variable cost of goods sold for a product was $ 70 per unit, while the planned variable cost of goods sold was $68 per unit. The volume increased by 1,200 units to 7,000 actual total...
-
3. a. b. C. Journalize and post the Apr transactions. Becky's Car Detailing Services records all prepaid expenses and unearned revenues as assets and liabilities d. e. Prepare an unadjusted trial...
-
In the early 1970's Trans World Airlines(TWA), one of the largest domestic and international trunk carriers in the world, acquired a fleet of sixteen (16) Boeing 747 Aircraft.These planes carried...
-
Based on the Solow-Swan growth model, show and explain how the saving rate determine the steady state capital per worker. Using a diagram of Solow-Swan growth model, explain why an economy should not...
Study smarter with the SolutionInn App