what are two ways that regulatory compliance are dealt with in scrum

C) A softball. A search good is a product or service that can be evaluated and experienced before purchase. The correct option is c.

It refers to goods or services where the quality and attributes can be easily assessed by consumers through search and comparison.

Among the options provided, a softball best exemplifies a search good. When considering purchasing a softball, consumers can examine its size, weight, material, and other physical characteristics.

They can touch, hold, and inspect the softball to determine if it meets their requirements and preferences. The quality and attributes of a softball can be easily observed and assessed before making a purchase decision.

In contrast, options A, B, and D represent experience goods or credence goods rather than search goods.

For example, a haircut, a meal at a restaurant, and psychotherapy involve subjective experiences and outcomes that are not fully known or easily evaluated. The correct option is c.

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If demand increases in a perfectly competitive market, then all of the following options will be correct. So the correct option among the given options is option C - All of these are correct. Here is a 150 word explanation of why all of these options are correct in a perfectly competitive market.When demand increases in a perfectly competitive market, the following effects take place: firms are required to increase their production to meet the rising demand, and as a result, the short-run supply curve shifts to the right. At the same time, the price in the market will be higher due to the increased demand. However, this is not sustainable as in the long run, new firms will enter the market to capture some of the profits. These new firms will cause the supply curve to shift further rightward. As a result, the price in the market will fall until it reaches the equilibrium price. Therefore, all of the given options are correct when the demand increases in a perfectly competitive market.

The advantages of short-term scheduling include increased flexibility, efficient resource utilization, and improved responsiveness to changing conditions.

In conclusion, short-term scheduling provides several benefits that contribute to operational efficiency and responsiveness. It allows for flexibility in resource allocation, ensures optimal resource utilization, and enables quick adaptation to changing conditions.

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Vasily pushes for an acquisition anyway. The reason for this acquisition is a  principal-agent problem

Vasily, a manager of a company producing snack items, thinks that the company would gain from expanding, and he assumes that the shareholders would agree. The corporation must now concentrate on stabilising profits and expenses. Vasily is pushing for an acquisition despite this. This acquisition's motivation can be traced to a principal-agent problem.

An example, where the interests of the principal and the agent, in this case Vasily, are not entirely congruent is referred to as a principal-agent issue. Different objectives, risk preferences, or information asymmetries can all contribute to this misalignment. Vasily's ambition to seek an acquisition to expand the business may not be in line with the immediate interests of the shareholders in this situation, who place a higher priority on stabilising profits and expenses.

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Complete Question:

Vasily is a manager at a large snack foods company. Vasily believes his company would benefit from being larger and thinks the shareholders would support such growth. The company is doing relatively well but needs to focus on stabilizing profits and expenditures. Vasily pushes for an acquisition anyway. The reason for this acquisition is ______.

a) To calculate the break-even point (BEP) in terms of units sold, we divide the fixed cost by the contribution margin per unit. The contribution margin is the sales price per unit minus the variable cost per unit.

Variable cost per unit = $55

Fixed cost = $10,000

Sales price per unit = $100

Contribution margin per unit = Sales price per unit - Variable cost per unit

Contribution margin per unit = $100 - $55 = $45

BEP in terms of units sold = Fixed cost / Contribution margin per unit

BEP in terms of units sold = $10,000 / $45 ≈ 222.22 units

To calculate the BEP in terms of dollars sold, we multiply the BEP in units by the sales price per unit.

BEP in terms of dollars sold = BEP in units sold * Sales price per unit

BEP in terms of dollars sold = 222.22 units * $100 = $22,222.22

b) The break-even point (BEP) represents the level of sales or units sold at which a company neither incurs a profit nor a loss. It is the point at which total revenue equals total costs. At the BEP, the company covers all its fixed costs, and any sales beyond the BEP contribute to generating a profit. BEP is an important metric for assessing the financial viability and risk of a business.

c) To lower the break-even point (BEP), the company can consider implementing various strategies:

1. Reduce variable costs: Finding ways to decrease the variable cost per unit, such as negotiating better prices with suppliers or optimizing production processes, can lower the BEP.

2. Increase selling price: If feasible, the company can raise the selling price per unit, which would increase the contribution margin and reduce the number of units required to break even.

3. Reduce fixed costs: Identifying opportunities to reduce fixed costs, such as streamlining operations, renegotiating leases or contracts, or exploring cost-sharing arrangements, can help lower the BEP.

4. Improve efficiency: Enhancing productivity and efficiency in all aspects of the business, including production, marketing, and administration, can lead to cost savings and contribute to a lower BEP.

5. Expand market reach: Increasing sales volume by entering new markets, expanding distribution channels, or targeting new customer segments can help achieve higher revenue and reduce the BEP.

It's important to carefully evaluate the potential impact and feasibility of these suggestions in the specific context of the company's operations and market conditions.

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As the tax per pack increases, the deadweight loss triangle on the graph also increases, indicating greater inefficiency and welfare loss.

Extra weight misfortune is ordinarily addressed by a three-sided region on a diagram. The foundation of the triangle addresses how much assessment forced, and the level addresses the decrease in amount brought about by the expense.

For this situation, you would have three situations: no expense, a duty of $8 per pack, and a duty of $16 per pack. As the duty per pack builds, the extra weight misfortune triangle on the chart would likewise increment.

This is on the grounds that a higher expense prompts a more prominent decrease in amount, which brings about a bigger hole between the effective harmony amount and the genuine amount executed on the lookout.

The extra weight misfortune triangle fills in size as the taxation rate becomes heavier, showing a bigger loss of monetary government assistance because of the twisting brought about by the expense.

By looking at the extents of the extra weight misfortune triangles under various duty situations, you can notice the rising failure and government assistance misfortune as the expense per pack increments.

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The complete question is:

Consider the deadweight loss generated in each of the following cases: no tax, a tax of $8 per pack, and a tax of $16 per pack. On the following graph, use the black curve (plus symbols) to illustrate the deadweight loss in these cases. (Hint: Remember that the area of a triangle is equal to 1/2 x Base x Height. In the case of a deadweight loss triangle found on the graph input tool, the base is the amount of the tax and the height is the reduction in quantity caused by the tax.) As the tax per pack increases, deadweight loss.

A discriminatory price is passed along from a secondary-line buyer to a retailer in  B. tertiary-line injury.

Price Demarcation is a deals strategy in which the dealer charges different prices for the same product or service depending on what the seller believes the buyer will accept. In pure price demarcation, the supplier charges the topmost possible price to each consumer.

In more typical kinds of price discrimination, the seller divides clients into groups based on particular characteristics and charges a different price to each group.

When one manufacturer lowers their pricing in a given geographic region, it causes injury to its competitors in the same market. Price discrimination is classified into three types: first-degree or perfect price discrimination, second-degree, and third-degree.

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Patricia is able to secure health insurance because her employer has a contract with Blue Cross/Blue Shield. This is an example of Group insurance plan.

Group insurance is an insurance plan that covers a group of people who are associated together, such as the workers of an organization or the members of an association or club.

Health insurance plans of a group are offered by employers to their employees; it is employer-based coverage. Patricia is able to secure health insurance because her employer has a contract with Blue Cross/Blue Shield, which is why this is an example of group insurance plan.

The employers are responsible for paying a portion of the premiums for this coverage, and the employees are responsible for the rest. Because of the group's size, the insurer is willing to give them a lower premium rate than they would charge for individual policies of a group.

That is why this coverage is often less expensive than buying coverage individually.Patricia's group insurance plan is a popular choice because it provides several benefits, including:Lower premium cost

Employers usually contribute a portion of the premium amount to keep it low.Pre-existing conditions coverage

Underwriting is typically waived or more lenient with group policies. Therefore, people with pre-existing medical conditions may obtain insurance through their employer when they may not be eligible for individual coverage.

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Real exchange rate: The real exchange rate refers to the ratio of prices of a basket of goods and services between two countries. The real exchange rate provides the value of a currency in terms of the amount of goods and services it can buy.

It is also called the purchasing power exchange rate. In order to calculate the real exchange rate, we need to convert both prices to a common currency. Here, we will use the USD as the common currency. Real exchange rate for January 2021: Real exchange rate = (USD price / EUR price) x (EUR/USD exchange rate)= (95 / 1) x (1.22/1)= 115.9Real exchange rate for July 2021:

Real exchange rate = (USD price / EUR price) x (EUR/USD exchange rate)= (100 / 1) x (1.18/1)= 118.0Real exchange rate has increased from 115.9 in January 2021 to 118.0 in July 2021. This means that the purchasing power of the USD has increased relative to the EUR over this period. In other words, the same basket of goods and services costs less in USD terms in July 2021 compared to January 2021. This could be due to a stronger USD or weaker EUR or both.

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Zarkos's statement of profit or loss for the year ended 30 April 2021 shows a net profit of RM 120,950.

In the year ended 30 April 2021, Zarkos faced several financial adjustments and expenses that impacted the financial performance of the business. These adjustments include:

1- Personal Use of Goods: Zarkos took goods worth RM 5,000 for personal use, which was not recorded as an expense, leading to an understatement of expenses and overstatement of profit.

2- Irrecoverable Trade Receivables: It was determined that RM 600 of trade receivables were irrecoverable. Additionally, the allowance for receivables was reduced by RM 400, reflecting a more accurate estimation of potential bad debts.

3- Depreciation: Depreciation on plant and machinery, charged at 15% per annum on a reducing balance basis, was allocated to the cost of sales. This reflects the wear and tear of the assets used in the production process.

4- Loan Interest: The loan taken out in August 2020 accrued interest that has not been paid or accounted for. This interest expense needs to be recognized in the financial statements.

5- Inventory Adjustment: A revaluation of inventory revealed that some items, originally costing RM 5,000, had a net realizable value of RM 3,750. This adjustment reflects a more accurate valuation of inventory.

Statement of Profit or Loss for the Year Ended 30 April 2021

Revenue:

Adjusted Revenue (Revenue - Cost of Goods Taken for Personal Use): RM 225,000

Expenses:

Finance Costs: RM 300

Administrative Expenses: RM 65,800

Distribution Expenses: RM 31,200

Depreciation Expense (15% of Plant and Machinery): RM 6,750

Total Expenses: RM 104,050

Profit for the Year: RM 120,950

The statement of profit or loss summarizes the financial performance of Zarkos' business for the year ended 30 April 2021.

To prepare the statement, we start with the adjusted revenue, which is the revenue (RM 230,000) minus the cost of goods taken for personal use (RM 5,000). This adjustment reflects the true revenue earned from the business operations.

Next, we deduct the expenses incurred during the year. The finance costs amount to RM 300, while the administrative expenses and distribution expenses are RM 65,800 and RM 31,200, respectively. Additionally, the depreciation expense is calculated based on a 15% depreciation rate applied to the net book value of the plant and machinery (RM 72,000 - RM 25,000 = RM 47,000).

By subtracting the total expenses from the adjusted revenue, we arrive at the profit for the year, which is RM 120,950.

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The statement "in order to prevent a transaction from being recorded more than once, a company should maintain only one book of original entry." is false as company must maintain multiple books of entry.

A business should keep multiple books of original entry to avoid transactions being recorded more than once. Different types of transactions can be separated and organized by using multiple books such as cash books, sales journals, purchase journals and general journals.

Each book is used to keep track of a particular kind of transaction and entries should be made in the relevant book as soon as the transaction takes place. This avoids entry duplication or omission and ensures that transactions are accurately recorded. A business is able to keep accurate and trustworthy accounting records by maintaining multiple books of original entry.

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Under Section 12(a)(1) of the Securities Act of 1933, the plaintiff has to show that the securities were sold or offered for sale in interstate commerce and that the seller or offeror had no registration statement in effect at that time. Furthermore, a plaintiff does not have to show causation or reliance to establish a Section 12(a)(1) cause of action.

Section 12(a)(1) of the Securities Act of 1933, which is a part of the United States securities law, provides the foundation for liability claims by purchasers of securities who can establish that the seller or offeror of a security sold or offered for sale a security without an effective registration statement at the time of sale or offer.A plaintiff, under Section 12(a)(1), is not required to establish causation or reliance. The statute does not explicitly state that the plaintiff is required to establish causation or reliance.

However, plaintiffs who claim that they were misled by a seller's misstatements or omissions may want to bring claims under other federal securities law provisions that do require these componentsSection 12(a)(1) of the Securities Act of 1933 prohibits the sale of unregistered securities in interstate commerce. A seller is expected to file a registration statement with the Securities and Exchange Commission (SEC) before offering or selling securities in interstate commerce.

This is because the registration statement serves as a prospectus, which contains material information about the securities being sold, the issuer, and other relevant information that a purchaser can use to make an informed investment decision.The seller can be held liable if a purchaser of the security did not receive an effective registration statement before purchasing the security, and the seller or issuer can be held liable for damages under Section 12(a)(1).

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A. Break-even point: To calculate the break-even point in units, we can use the formula:  Break-even point (in units) = Fixed cost / Contribution margin per unit

The contribution margin per unit is calculated as follows:

Contribution margin per unit = Selling price per unit - Variable cost per unit

Given the information:

Fixed cost = RM 260

Selling price per unit = RM 3.00

Variable cost per unit = Direct material + Direct labor + Factory overhead (variable)

Variable cost per unit = 0.90 + 0.30 + 0.30 = RM 1.50

Contribution margin per unit = RM 3.00 - RM 1.50 = RM 1.50

Break-even point (in units) = RM 260 / RM 1.50 = 173.33 units

To calculate the break-even point in value, we can multiply the break-even point in units by the selling price per unit:

Break-even point (in value) = Break-even point (in units) * Selling price per unit

Break-even point (in value) = 173.33 * RM 3.00 = RM 520

Therefore, the break-even point is 173.33 units (rounded up to 174 units) and RM 520 in value.

B. Margin of safety: To calculate the margin of safety percentage, we can use the formula:

Margin of safety percentage = (Actual sales - Break-even sales) / Actual sales * 100

Given the information:

Actual sales = Normal production = 500 units

Break-even sales = Break-even point (in units) = 174 units

Margin of safety percentage = (500 - 174) / 500 * 100 = 65.20%

C. Number of curry puffs to obtain RM 100 profit: To calculate the number of curry puffs needed to obtain RM 100 profit, we need to consider the contribution margin per unit:

Profit = Number of units * Contribution margin per unit

Given the information:

Profit = RM 100

Contribution margin per unit = RM 1.50

Number of curry puffs = RM 100 / RM 1.50 = 66.67 units (rounded up to 67 units)

D. Profit with increased fixed cost and reduced direct material and direct labor:

To calculate the profit with the changed parameters, we need to adjust the fixed cost and variable cost per unit:

Adjusted fixed cost = RM 300

Adjusted variable cost per unit = Reduced direct material + Reduced direct labor + Factory overhead (variable)

Reduced direct material = 0.90 - (0.90 * 10%) = 0.81

Reduced direct labor = 0.30 - (0.30 * 10%) = 0.27

Adjusted variable cost per unit = 0.81 + 0.27 + 0.30 = RM 1.38

Profit = Number of units * (Selling price per unit - Adjusted variable cost per unit) - Adjusted fixed cost

Using the previous calculated number of curry puffs (500 units), we can substitute the values into the equation to find the profit.

Profit = 500 * (3.00 - 1.38) - 300 = RM 810

E. Profit with increased production and reduced factory overhead cost:

To calculate the profit with the changed parameters, we need to adjust the production and factory overhead cost:

Increased production = 550 curry puffs

Reduced factory overhead cost per unit = RM 0.25

Profit = Number of units * (Selling price per unit -

Variable cost per unit) - Fixed cost

Variable cost per unit = Direct material + Direct labor + Reduced factory overhead cost per unit

Variable cost per unit = 0.90 + 0.30 + 0.25 = RM 1.45

Profit = 550 * (3.00 - 1.45) - 260 = RM 940

Therefore, the profit in scenario E would be RM 940.

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The South was at the center of American commerce and diplomacy due to its strategic geographical location, agricultural wealth, and control over key natural resources such as cotton, tobacco, and rice.

The South's prime location along the Atlantic coastline provided easy access to both domestic and international trade routes. Its warm climate and fertile land made it ideal for cultivating cash crops like cotton, tobacco, and rice, which were in high demand and generated significant wealth. The South's agrarian economy fueled the growth of industries such as shipping, manufacturing, and finance, attracting commerce and investment. Additionally, the South's influential political figures, known as the "Southern aristocracy," held prominent positions in the federal government, enabling them to shape American diplomacy and advance their region's interests. These factors combined to make the South a hub of commerce and a powerful player in American diplomacy.

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Turnover, also known as asset turnover, indicates how efficiently a company is utilizing its assets to generate sales. It calculates the amount of revenue earned for every dollar invested in assets. Therefore, the correct option is (c) 8%.

The formula for turnover is as follows: Turnover = Sales / Average Total Assets. Average Total Assets = (Beginning Total Assets + Ending Total Assets) / 2.

Here, the asset turnover is given to be 0.5, and sales are given to be $100,000. Average Total Assets = Sales / Turnover= 100,000 / 0.5= $200,000.

Now, Return on Investment (ROI) is calculated using the following formula: ROI = Net Operating Income / Average Total Assets. ROI = $16,000 / $200,000 ROI = 0.08 or 8%.

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False. E-mail is not considered a temporary message medium. It is a form of electronic communication that allows individuals to send messages, files, and other digital content to recipients over the Internet.

Unlike some temporary messaging platforms or services that delete messages after a certain period or are designed for short-lived conversations, e-mails are typically stored in the recipient's mailbox unless manually deleted. E-mails can be archived, searched, and referenced over an extended period, making them a more persistent form of communication. Electronic communication refers to the transmission of information, data, or messages using electronic devices and technologies. It involves the use of electronic means such as computers, smartphones, telephones, email, instant messaging, video conferencing, and social media platforms to exchange information and communicate with others remotely. Electronic communication has become an integral part of modern-day communication, enabling people to connect and interact with each other across various distances and locations.

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a. True. Plant assets, also known as fixed assets or property, plant, and equipment (PPE), are tangible assets used in a business's operations to generate revenue.

a. True. Plant assets, also known as fixed assets or property, plant, and equipment (PPE), are tangible assets used in a business's operations to generate revenue. These assets are typically long-term in nature and have useful lives that extend over more than one accounting period. The term "useful life" refers to the period during which the asset is expected to provide economic benefits to the business. Plant assets, such as buildings, machinery, vehicles, and equipment, are acquired with the intention of using them in the business for an extended period. Accounting principles dictate that the cost of plant assets should be allocated over their useful lives through depreciation. Depreciation is the systematic allocation of the asset's cost as an expense over time, reflecting the asset's gradual wear and tear, obsolescence, or loss of value. Therefore, it is true that plant assets are used in business and have useful lives that extend over more than one accounting period.

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According to Howard Gardner, gardeners and farmers are nature smart, and they need naturalist intelligence to do their jobs well.

Gardner defined naturalistic intelligence as the capacity to recognize, categorize, and manipulate components of the physical world, including objects, living things, and plants and animals. This kind of intelligence enables us to distinguish between various animals, social groupings, and things, as well as to comprehend how they connect to one another.

Naturalistic intelligence is said to have evolved during the era of the first humans, when recognizing helpful and hazardous animals, watching the climate, reading the land, and extending the range of food resources were all necessary for survival. People with high naturalistic intelligence typically exhibit the following traits i.e., they value the environment and like connecting with nature and they are adept at classifying both plants and animals.

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To journalize the above transactions for Arrow Medical Co., using the direct write-off method for uncollectible receivables, the following entries would be made:

January 19:

Accounts Receivable - Dr. Sinclair Welby..........$15,800

Sales Revenue...............................................................$15,800

(To record the sale of merchandise on account to Dr. Sinclair Welby)

July 7:

Cash..............................................................................$4,800

Allowance for Doubtful Accounts.......................$11,000

Accounts Receivable - Dr. Sinclair Welby..............$15,800

(To record the partial collection and write-off of the remainder owed by Dr. Sinclair Welby as uncollectible)

November 2:

Accounts Receivable - Dr. Sinclair Welby..........$15,800

Allowance for Doubtful Accounts.......................$11,000

Cash...........................................................................$11,000

(To reinstate the account of Dr. Sinclair Welby and record the full payment received)

Note: The Allowance for Doubtful Accounts is used to record the estimated uncollectible amounts. The direct write-off method does not use an allowance account, but for the purpose of this exercise, it is included to show the write-off and reinstatement of the account.

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The value of the difference in profit between the two products is $195,000

Profit is defined as the amount of money remaining after all expenses have been paid. The formula for finding the profit is:

Profit = Revenue – Total Costs.

Now, let's find the revenue of each product:

Product 1 revenue = Selling price × Units sold= $65 × 25,000= $1,625,000

Product 2 revenue = Selling price × Units sold= $115 × 45,000= $5,175,000

Now let's find the total cost of each product:

Product 1 total cost = Fixed costs + Variable costs= $750,000 + ($26 × 25,000)= $750,000 + $650,000= $1,400,000

Product 2 total cost = Fixed costs + Variable costs= $1,650,000 + ($69 × 45,000)= $1,650,000 + $3,105,000= $4,755,000

Now, we can find the profit for each product:

Product 1 profit = Revenue – Total costs= $1,625,000 – $1,400,000= $225,000

Product 2 profit = Revenue – Total costs= $5,175,000 – $4,755,000= $420,000

Finally, let's find the difference in profit between the two products:

Difference in profit = Product 2 profit – Product 1 profit= $420,000 – $225,000= $195,000

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Check Ltd and Fourty40 Ltd information as at 30 June 2021 is as follows: Check Ltd is a grocery food chain having stores across South Africa.

Fourty40 Ltd developed an application that enables customers to purchase groceries online, and a same-day delivery service. At the beginning of lockdown, Check Ltd acquired 70% interest in the ordinary shares and 40% interest in the 9% cumulative preference shares of Fourty40 Ltd on 1 April 2019.

Preference shares are categorized as equity.On the acquisition date, Fourty40 Ltd had been in operation for a few months. At that time, Fourty40 Ltd's retained earnings were R430,000, revaluation surplus was R45,000, ordinary share capital was R550,000, and preference share capital was R240,000.

Except for land, the carrying values of Fourty40 Ltd's assets and liabilities were considered to be equal to their fair values at acquisition. The value of the land was estimated to be between R1,100,000 and R1,750,000.

Due to the complexity surrounding the acquisition, Fourty40 Ltd neglected to modify their financial records. After being registered, Fourty40 Ltd revalued its land once more in June 2021, and the total revaluation surplus amounted to R750,000 following its recording.

The issued share capital of both companies remained the same as at acquisition. Goodwill was disclosed at cost less impairment in the consolidated financial statements because it was the group's policy. There were no goodwill impairments in the current year.

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Total Quality Management (TQM) benefits organizations by focusing on continuous improvement, customer satisfaction, and employee involvement. TQM emphasizes the importance of quality in all aspects of the organization's operations, leading to improved efficiency, productivity, and customer loyalty.

For example, a manufacturing company implementing TQM may see reduced defects in their products, leading to higher customer satisfaction and increased sales. By involving employees at all levels, TQM fosters a culture of collaboration, empowerment, and accountability, which can result in better teamwork, innovation, and problem-solving.

TQM promotes a systematic approach to quality management, with the aim of meeting or exceeding customer expectations. Through methods like quality control, quality assurance, and continuous improvement, organizations can identify and address issues proactively, preventing errors and waste. This not only improves the quality of products or services but also reduces costs and increases efficiency.

For instance, a service-oriented organization implementing TQM may develop customer feedback mechanisms and regularly analyze the data to identify areas for improvement. By addressing customer concerns and making necessary adjustments, the organization can enhance customer satisfaction and loyalty, leading to repeat business and positive word-of-mouth.

In summary, Total Quality Management brings numerous benefits to organizations, including improved product quality, customer satisfaction, employee engagement, and overall organizational performance. It provides a framework for continuous improvement, ensuring that the organization remains responsive to customer needs and competitive in the market.

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Mobile advertising has the potential to become one of the most effective ways to reach a target audience.

Based on consumer time spent using the media, the area in which US advertisers are grossly underspending on advertising is the mobile media. This is because people spend an increasing amount of time on their mobile phones, which is considered one of the most effective ways to reach potential consumers in a targeted and personal way. As a result, advertisers are looking to expand their mobile advertising budgets in order to reach consumers where they are spending most of their time, and to do so with targeted and personalized content. This means that mobile advertising has the potential to become one of the most effective ways to reach a target audience.

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The impairment loss and reversal of impairment loss on the following dates: i. 31 December 2019 ii. 31 December 2020 on December 31, 2019, is RM24,000.

Calculation:

Carrying quantity of CGU at December 31, 2019 = RM150,000 + RM750,000 - RM150,000 + RM24,000 = RM874,000

Recoverable quantity of CGU at December 31, 2019 = RM816,000

Impairment loss = RM874,000 - RM816,000 = RM58,000

Distribution of impairment loss:

Land: RM0

Plant: RM58,000

Goodwill: RM24,000

Inventory: RM120,000

Cash: RM6,000

Total: RM208,000

The impairment loss on December 31, 2019, is RM24,000.

For December 31, 2020:

The impairment loss is nil.

The recoverable quantity of the China department is RM854,000.

The carrying quantity of the China department's property is RM885,000.

The impairment loss is RM31,000.

b. Journal entries on December 31, 2019:

Debit:

Impairment loss on plant: RM58,000

Accumulated depreciation on plant: RM58,000

Goodwill: RM24,000

Inventory: RM120,000

Cash: RM6,000

Total Debit: RM208,000

Credit: None

Explanation:

The amount of loss due to impairment on December 31, 2019, is RM24,000. The impairment loss is allocated to various assets such as plant, goodwill, inventory, and cash. On December 31, 2020, there is no impairment loss.

The recoverable quantity and carrying quantity of the China department are given. The journal entries for December 31, 2019, include the impairment loss on plant, accumulated depreciation on plant, goodwill, inventory, and cash.

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Fiery Bhd has determined that its China division is a cash generating unit (CGU). The carrying amounts of the assets at 31 December 2019 are as follows: i. ii. iii. Land Plant Additional information: Accumulated depreciation Goodwill Inventory Cash b) RM 150,000 750,000 (150,000) 24,000 120,000 6,000 The cost model were used to measure all assets. The recoverable amount of the CGU at 31 December 2019 was RM816,000. At 31 December 2020, the depreciation charge on plant was RM69,000 (RM75,000 would have been charged for the depreciation if the plant had not been impaired). iv. At 31 December 2020, the recoverable amount of the entity was calculated to be RM39,000 greater than the carrying amount of the assets of the entity. Required: a) Calculate the impairment loss and reversal of impairment loss on the following dates: i. 31 December 2019 ii. 31 December 2020 Show all workings. Prepare the journal entries relating to (a) above. (11 marks) (4 marks)

The primary difference between the two is that bilateral promises require mutual consideration and obligation from both parties, whereas unilateral promises only require one party's obligation.

A promise is a legal contract that must meet the standards of a valid contract to be enforced by law. Both parties should agree to the terms of the agreement for it to be considered a legally binding contract. There are two types of promises in contracts, bilateral promises, and unilateral promises. Bilateral promise vs unilateral promise: In bilateral promises, two parties are involved, and each has an obligation to meet. In unilateral promises, one party has an obligation to meet, and there is no obligation on the other party.

Unilateral promises are usually created to incentivize or encourage an act or performance. They are one-sided and rely on the goodwill of the promisee to perform. Example of a bilateral promise: If someone promises to paint someone else's house, and in return, the other party promises to pay them for the work performed, this is an example of a bilateral promise. Both parties have obligations to fulfill, and the agreement is mutual. Example of a unilateral promise: If someone promises to pay someone else $100 if they run a marathon, this is an example of a unilateral promise. There is no obligation on the person making the promise to fulfill their end of the bargain unless the promisee completes the action. Therefore, the obligation is only on one side.

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To take out a mortgage on a house worth $50,000, and pay it back in 10 years.  The bank charges simple interest at the rate of 2% per month. Thus, the amount owned after 1 year is $62,000 and the interest charged is $12,000.

Given data : House worth= $50,000 Time period= 10 years Rate of interest= 2% per month.

Simple interest formula is given as : Simple interest= (P × R × T) / 100

Where,

P = Principle R = Rate of interest T = Time period

Let's calculate simple interest for the first year

Simple interest= (P × R × T) / 100

Simple interest for the first year= ($50,000 × 2 × 12) / 100= $12,000

This is the amount of interest paid after one year.

We can also calculate the amount owned after 1 year using the simple interest formula.

Amount owned after 1 year= Principle + Simple interest

Amount owned after 1 year= $50,000 + $12,000= $62,000

Thus, the amount owned after 1 year is $62,000 and the interest charged is $12,000.

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In the United States, agricultural products such as wheat, corn, soybeans, or other commodities are most likely to be characterized by pure competition.

Pure competition refers to a market structure where there are numerous buyers and sellers, homogeneous products, and easy entry and exit into the market.

In the agricultural sector, there are typically a large number of farmers producing similar crops, and buyers, such as food processors or exporters, have many options to choose from. Prices are determined by market forces of supply and demand, without any individual producer having significant control over the market.

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Purcase price= $1,000,000Cap Rate= 7%Interest rate of Senior loan = 4%Interest rate of subordinate loan= 8%Amount of Senior loan= $600,000Amount of subordinate loan = $200,000

Calculating Ann’s return on equity (ROE) in year 1:Ann’s investment= $1,000,000 – $600,000 (Senior Loan) – $200,000 (Subordinate Loan)= $200,000Ann’s first year net operating income (NOI)= Purchase price × Cap rate= $1,000,000 × 7%= $70,000Interest expense of Senior loan= Senior Loan × Interest rate= $600,000 × 4%= $24,000Interest expense of subordinate loan= Subordinate loan × Interest rate= $200,000 × 8%= $16,000Total Debt Service= Interest expense of Senior loan + Interest expense of subordinate loan= $24,000 + $16,000= $40,000Net Operating Income (NOI)-Total Debt Service= $70,000-$40,000=$30,000Ann’s return on equity (ROE) in year 1= Net Operating Income (NOI)-Total Debt Service / Ann’s investment× 100%ROE= ($30,000/ $200,000) × 100%ROE= 15%Therefore, Ann’s return on equity (ROE) in year 1 is 15%. Hence, the option (c) is the correct answer.

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Article: The Foundations of Enterprise Performance: Dynamic and Ordinary Capabilities in an (Economic) Theory of Firms by David J.

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The given statement "Source documents are useful when applying the cost principle." is true because the cost principle is an accounting principle that requires companies to record assets at their original cost of purchase or production and avoid adjusting the value based on inflation or market fluctuations.

In other words, the cost principle prohibits companies from increasing the value of assets beyond the amount they paid to acquire them.Source documents are crucial when applying the cost principle because they provide evidence of the amount paid to acquire the assets. Source documents are original records that show the details of a transaction. Examples of source documents include purchase orders, invoices, receipts, and canceled checks.

These documents provide the necessary information to record transactions accurately, which is essential when applying the cost principle. By using source documents, companies can ensure that their accounting records reflect the actual cost of assets and avoid overvaluing them. Therefore, source documents play a critical role in supporting the application of the cost principle.

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