Concord Corporation purchased a one-year insurance policy in January 2020 for $79200. The insurance policy is in effect from May 2020 through April 2021. If the company neglects to make the proper year- end adjustment for the expired insurance

Q: Define the Base Case and the Proposed Alternatives?

A: The base case is the output expected from the basic assumption made by the project team. The basic…

Q: Explain the call-put parity relation and how it is justified?

A: call-put parity relation 1. It shows the prices of calls and puts , consistency of underlying…

Q: What are the scopes of the IPSASs?

A: Financial Accounting- It is the branch of accounting that records events of financial nature that…

Q: What is the going concern assumption?

A: Going concern Assumption: On the basis of Going concern assumption Financial statements are…

Q: What assumptions underlie the EOQ model?

A: The model that helps in calculating the optimal amount of quantity needs to be purchase for…

Q: what does fichacuristic mean?

A: NOTE: The word "fichacuristic" is a spelling/typo error of the word "futuristic" in Step 2 first…

Q: What is the purpose of a Limit Test?

A: Definition:   Limit test: It checks the data by evaluating it with the predetermined upper and…

Q: What are the four basic assumptions underlie GAAP?

A:

Q: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: What are the key assumptions of the CAPM?

A: Introduction: The CAPM is an equilibrium model that stipulates the relationship between necessary…

Q: Which method would be more consistent with the matching principle? Why?

A: Definition:

Q: What assumptions are inherent in the EOQ model as presentedhere?

A: Economic order quantity (EOQ): Economic ordering quantity (EOQ) is the perfect order quantity a…

Q: Does the IRR analysis yield the results consistent with PW and other equivalence methods?

A: Yes, the IRR analysis gives the results consistent with PW analysis and Equivalence methods.

Q: What is the dual aspect term

A: solution concept Dual aspect                 Each and every transaction shall be recorded by giving…

Q: What is GAAP and how does it work

A: The accounting is based on various principles that are defined by GAAP or IFRS.

Q: What are the CVP assumptions?

A:

Q: What is the DCF method?

A: DCF is a complex tool for valuation which approximates the value of any investment depending upon…

Q: What is counterbalancing?

A: Errors: The comparability and consistency of the financial statements decreases when a company…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: What is sensitive analysis?

A: Sensitive analysis is a method for predicting the outcome of a decision if a situation turns…

Q: What is the relevant range?

A: The concept of relevant range is used in the cost accounting. It tells under what level of…

Q: What are the assumptions of Walter’s model?

A: The Walter Model of Careers is an influential theory in the field of career development. This model…

Q: What is multiple discriminant analysis?

A: Multiple discriminant analysis (MDA) is a statistical method used by many financial planners to…

Q: What is forward points?

A: Forward points are nothing but basis points added or subtracted from the spot rate of an underlying…

Q: Determining current portion of long-term note payable On January 1, Irving Company purchased…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: What is the difference between the CML and the SML?

A: The term CML refers to capital market line. Whereas the term SML refers to security market line.