Under ifrs an entity should initially recognize inventory

Assignment Help Accounting Basics
Reference no: EM131026027

1. Under IFRS, an entity should initially recognize inventory when:

A) it has control of the inventory. 
B)  it expects it to provide future economic benefits. 
C) all of these choices are correct. 
D) the cost of the inventory can be reliably measured. 

Reference no: EM131026027

Questions Cloud

Determine the closed-loop break frequency fbcl : A certain op amp has an open-loop dc gain of A0OL = 200, 000 and an open-loop 3-dB bandwidth of fBOL = 5Hz. This op amp is used in a non-inverting amplifier having a closed-loop dc gain ofA0CL = 100. Determine the closed-loop break frequency fBCL.
Define permissive : Define permissive. Explain how Thyroid Hormone  permissive for epinephrine. How does this relate to Thyroid Hormones role in stress response?
What are effective ways to prevent people from breaking rule : What are some of the reasons that you think are behind deviance in today's society? What do you think are some effective ways to prevent people from breaking society's rules?
How many input pulses have been applied : Sketch the output voltage of the circuit shown in Figure to scale versus time. Sometimes, an integrator circuit is used as a (approximate) pulse counter. Suppose that the output voltage is -10 V. How many input pulses have been applied?
Under ifrs an entity should initially recognize inventory : Under IFRS, an entity should initially recognize inventory when:A)it has control of the inventory. B) it expects it to provide future economic benefits. C)all of these choices are correct. D)the cost of the inventory can be reliably measured.
Where does thyroid hormone bind its receptor : Where does thyroid hormone bind its receptor? What is the target cell response (second messenger activation or transcriptional activation)?
What was the total amount of investment : How many units of capital wore out during the course of 1998? What was the total amount of investment that occurred in 1998 including expenditures on the replacement of worn out capital
Usual recommendation regarding treatment of patients : What is the usual recommendation regarding treatment of patients receiving cyclophosphamide who have the side effect of protracted, severe hemorrhagic cystitis?
Question regarding the installation of new equipment : The president of the firm has decided to shut down the plant for vacation and installation of new equipment in period 4. After installation, the cost per unit will remain the same, but the output rate for regular time will be 450.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  The discounts and premiums are amortized

The discounts and premiums are amortized based on the effective rate method, and (2) all the answers should be before tax figures.

  The financial statement disclosure of only two industries

read appendix b sample brief memorandum that starts on page 193 of the textbook. in 2-3 pages 12 point font double

  The present value of an annuity for six years at 10 is

a company has a decision to make between two investment alternatives. the company requires a 10 return on investment.

  A corporate bond has a face value of 1000 and a coupon rate

a corporate bond has a face value of 1000 and a coupon rate of 6.5. the bond matures in 10 years and has a current

  Discuss the ethical implications of the irs

Discuss the ethical implications of the IRS using social media networks to help identify tax returns for audit. Take a position on the whether or not the ethical implications identified above outweigh the benefits of seeking out targeted people to..

  Prepare a single-step income statement that includes these

valley companys adjusted trial balance on august 31 2013 its fiscal year-end follows.merchandise

  At december 31 2011 the end of the first year of operations

at december 31 2011 the end of the first year of operations at star inc. the firms accountant neglected to accrue

  Before making its year-end adjustments the net income for

before making its year-end adjustments the net income for barton company was 98000. adjusting entries are necessary for

  Three primary causes of cash flow problems

1. What are the three primary causes of cash flow problems faced by a small business? Explain cash flow  management using the cash-to-cash cycle.  What are the three sources from which cash can be obtained for a business?

  What is the market-to-book ratio

Dividends per share? Book value per share? If the stock currently sells for $95 per share, what is the market-to-book ratio? The price-earnings ratio?

  Record as gain on retirement of bonds

On March 1, 2011, Hess retired $400,000 of these bonds at 98 plus accrued interest. What should Hess record as a gain on retirement of these bonds? Ingore taxes.

  Pursuit of all self interest in contract

With that said, is pursuit of ALL self interest in contract unethical? If not, at what point does it become unethical?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd