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Problem 1: Purchases of merchandise inventories are always recorded net of:
a. Trade discount
b. Purchase discount
c. Sales discount
d. Cash discount
Problem 2: Which of the following is NOT correct regarding trading securities
a. These are classified as current assets.
b. Share in profit of the investee increases carrying value of the investment
c. Unrealized holding gains or losses are reported in profit or loss
d. Cash dividends shall be recognized as dividend income
Problem 3: Loans and receivable should be measured subsequent to initial recognition at
a. Amortized cost using the straight line method
b. Fair value plus transaction cost
c. Fair value
d. Amortized cost using the effective interest method
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Calculate the time value of the call option on Company X's stock. Strike price of the call option on X's stock (expires in 6 months): $12
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What Sticky's retained earnings as of December 31, 2011, would be? Sticky Corporation reduced the projected life of its patent
If your friend Tom runs a heating oil business that sells 100,000 gallons over the winter season, how would the price variance affect Tom
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