(IV) Indicate whether each of the following statements is false or correct, and explain briefly why...

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(IV) Indicate whether each of the following statements is false or correct, and explain briefly why if it is not correct: 1- long term receivable should be recognized initially on transaction date at face value or gross value. 2- Both short term and long term NP should be recognized initially on transaction date at PV of future related cash flows. 3- Both short term and long term receivable should reported at NRV. 4- Both short term and long term NP should be recognized initially on transaction date at PV of future related cash flows. 5- Both short term and long term receivable should reported at settlement value. (V) (A) During a period of rising prices answer the following question that related to two cost flow assumptions: 1- Which method maximize Net Income? 2- Which method minimize Net Income? 3- Which method maximize total assets in the B/S? 4-Which method minimize income tax? 5- Which method maximize OE? (B) Regardless of the price movement in the economy: 1-which method provide more realistic value for reported inventory? and why? 2- which method provide better measurement of NI ? and why? 3- Which method is more consistent with the matching principle? and why? 4 which method indicate more conservative accounting policy? And why? Owhat are the consequences on financial statements if company used the sale price if inventory as measure of MV when applying the LCM rule to inventory? (consider both quantitative and qualitative factors) (IV) Indicate whether each of the following statements is false or correct, and explain briefly why if it is not correct: 1- long term receivable should be recognized initially on transaction date at face value or gross value. 2- Both short term and long term NP should be recognized initially on transaction date at PV of future related cash flows. 3- Both short term and long term receivable should reported at NRV. 4- Both short term and long term NP should be recognized initially on transaction date at PV of future related cash flows. 5- Both short term and long term receivable should reported at settlement value. (V) (A) During a period of rising prices answer the following question that related to two cost flow assumptions: 1- Which method maximize Net Income? 2- Which method minimize Net Income? 3- Which method maximize total assets in the B/S? 4-Which method minimize income tax? 5- Which method maximize OE? (B) Regardless of the price movement in the economy: 1-which method provide more realistic value for reported inventory? and why? 2- which method provide better measurement of NI ? and why? 3- Which method is more consistent with the matching principle? and why? 4 which method indicate more conservative accounting policy? And why? Owhat are the consequences on financial statements if company used the sale price if inventory as measure of MV when applying the LCM rule to inventory? (consider both quantitative and qualitative factors)

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Question IV has 5 sub parts pease find the answes below 1 Correct Long term receivable are recorded ... View the full answer