Question

Under the specific identification inventory must be assigned? Question 31 Not yet answered Marked out of 1.00 Flag question Select one: a. a valuation number b. a purchase date c. a control number O d. a serial number or identification tag Question 32 Not yet answered Fair value accounting changes values on the balance sheet according to what? Marked out of 1.00 Select one: a. changes in the interest rates P Flag question O b. changes in the financial position of the company C. changes to the company's accounting methods O d. changes in market condition Question 33 An overstatement of ending inventory, ultimately, results in an: Not yet answered Marked out of 1.00 Select one: a. overstatement of income Flag question b. understatement of sales c. overstatement of cash O d. understatement of income

Answer 1

Q 31: Answer: Under the SpecificIdentification Inventory, a. A Valuation Number is assigned to keep track of particular Valued Inventory.

Q 32: Answer: Fair Value Accounting changes value on Balance sheet according to what: b, Changes in the financial position of the company.

Q 33: Answer:An Overstatement of ending Inventory , ultimately results in an a. Overstatement of Income.

Q 34: Answer: Which is the reason a shareholder may buy more shares of a company.. a. The shareholder believes the company is a good investment.

Q 35: Answer: How is the investment recognised initially under the Equity Method: a. At Cost.

Q 36: Answer: A written, unconditional promise to pay a determined sum of money to someone is known as. a. A Promissosry Note or Note payable.