When applying the lower cost or market rule to the valuation of inventory, the allowance method is considered preferable to the direct method because
A. the allowance method reports a higher inventory net valuation for balance sheet purposes than the direct method
B. the allowance method reports the inventory loss or loss recover in a separate income statement account
C. the allowance method, unlike the direct method, reduces the value of inventory reported on the balance sheet
D. the allowance method reports smaller losses than the direct method

Answers

Answer 1

It should be noted that the allowances method is considered preferable because B. the allowance method reports the inventory loss or loss recover in a separate income statement account.

It should be noted that the most common approach when implementing the lower cost is to apply it to each individual item of inventory separately.

When applying the lower cost or market rule, the market value should not exceed the net realizable value. Also, the allowance method is more preferable than the direct method because it reports the inventory loss or loss recover in a separate income statement account.

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Related Questions

pancakes and waffles are:
a.complements
b.normal goods
c.substitute
d.inferior goods

Answers

Answer:

they are always compliments

Explanation:

is this based on our opinion?

I think pancakes and waffles are Complements

Exhibit 13-1
Bank
Increase in Checkable Deposits
New Required Reserves
New Checkable Deposits Created by Extending New Loans
A$0
$0
$1,000
B
$1,000
(A)
(B)
C
(C)
$90
(D)
D
$810
(E)
(F)
Assume that the required reserve ratio is 10%, that there are no cash leakages, and that banks hold zero excess reserves.
Refer to Exhibit 13-1. Suppose that the Federal Reserve conducts open market operations by purchasing $1,000 worth of government securities from Bank A. At the end of this process of money creation, what is the total amount of new checkable deposits?
a. $100,000
b. $10,000
c. $1,000
d. $1,000,000

Answers

Answer:

1,000,000"

Explanation:

Some customers are more valuable than others if they ______ the company. a. generate less revenue for b. communicate less with c. generate more revenue for d. communicate more with

Answers

Answer

communicate more with

Explanation:

in 2013, the u.s. imported $2,294 billion of dollars in merchandise like computers, phones, coffee machines, and so on. in the same year, the us exported $1,593 billion of dollars in merchandise like cars, computers, phones, and so on. the difference of $702 billion dollars is known as ______________.

Answers

The balance of trade between the U.S. imports of $2,294 billion and its exports of $1,593 billion is known as the trade deficit.  The amount of the trade deficit is $701 billion.

Data and Calculations:

Total imports in 2013 = $2,294 billion

Total exports in 2013 = $1,593 billion

Trade deficit = $701 billion ($2,294 - $1,593)

Thus, the trade deficit arises when the U.S. imports goods of higher dollar value than its exports to other nations in 2013.

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Claire opened her own Starbucks franchise in her community. She is pleased with how quickly she was able to open her franchise and that she
was able to establish a good customer base from the start because of name recognition. However, since she started this business to be her
own boss, Claire is likely to

A. Invest in his own capital and national and local advertising programs
B. Take sole responsibility for all the decisions in the business
C. Embrace the franchisors restrictions because they lead to a greater chance for success
D. Resent the management training and support the franchiser provides
E. Get frustrated with the restrictions of the franchise

Answers

C. Embrace the franchise restrictions

Claire is likely to Embrace the franchisors restrictions because they lead to a greater chance for success option(c) is correct.

Who was Claire?

Claire was a person who gradually opened her Starbucks actually in her community she established a good customer base merely of her name in that organization.

As she is her own boss she accordingly embraces the franchisors restrictions which actually lead for more and more success of her.

Therefore Option(c) is correct.

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#SPJ2

How often is USPS mail typically delivered to a business?

Answers

Answer: According to USPS FAQ, The general time standard is typically 2-9 days in the 48 contiguous states. Package Services is not a guaranteed service; delivery by a certain date or time is not available.

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