?? Theconsolidationmethodofaccounting is used when ownership is?A) Less than 20%B) Between 20% and 50%C) More than 50%D) Exactly 50%

Explanation of Consolidation Method :The consolidation method is an accounting technique where a…

Answered: The consolidation method of accounting…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 1EA: Match the correct term with its definition. A. cost principle i. if uncertainty in a potential...

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Direct cost incurred to sell stock such as underwriting cost should be accounted for as?: 1. a reduction of additional paid-in captial 2. an expense of the period in which the stock is issued. 3. an intangible asset instructions: which of the above is correct a. 1 b. 2 c. 3 d. 1 or 3
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Match the correct term with its definition. A. cost principle i. if uncertainty in a potential financial estimate, a company should err on the side of caution and report the most conservative amount B. full disclosure principle ii. also known as the historical cost principle, states that everything the company owns or controls (assets) must be recorded at their value at the date of acquisition C. separate iii. (also referred to as the matching principle) matches expenses with associated revenues in the period in which the revenues were generated. D. monetary iv. business must report any business activities that could affect what is reported on the financial statements E. conservatism v. system of using a monetary unit by which to value the transaction, such as the US dollar. F. revenue vi. period of time in which you performed the service or gave the customer the product is the period in which revenue is recognized. G. expense vii. business may only report activities on financial statements that are specifically related to company operations, not those activities that affect the owner personally.
If the current ratio of Sah Ltd. is 1.75, then borrowing on a short-term basis and using the funds to create more inventory (by an equal amount) would cause the current ratio to increase. Group of answer choices True False
The following scenarios represent ownership percentages and degree of influence: Ownership Influence I. 10% No significant influ. II. 25% No significant influ. III. 40% Significant IV 55% Control Which of the follwing statements is correct regarding external financial reporting in the above scnarios? a. Use the fair value method under scenarios I and II b. Use the equity method under scenarios II. and III c. Use the equity method under scenarios I, II and III d. Use the acquisition method under scenarios III and IV
18.Net realizable value is a. acquisition cost plus estimated costs to complete and sell b. estimated selling price less estimated cost to complete and sell c. estimated selling price less estimated costs to complete and sell and normal profit. d. estimated selling price.
Which of the following stock investments should be accounted for using the fair value method? a.investments between 20% and 50% ownership b.investments of less than 20% ownership c.investments of over 50% ownership d.all investments of less 50% ownership

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The consolidation method of accounting is used when ownership is? A) Less than 20% B) Between 20% and 50% C) More than 50% D) Exactly 50%