Under which inventory system would a company NOT be able to specifically determine the amount of inventory lost or stolen? Perpetual inventory system O Both periodic and perpetual inventory systems O Periodic inventory system ONeither periodic nor perpetual inventory systems

Q: Let's suppose that you are a senior management member in a firm and you are trying to explain and…

A: Depreciation means the amount of normal wear or tear of the assets due to usage or passage of time.…

Q: What is the purpose of installing firewalls on bridges, routers, and gateways? O Detecting…

A: Solution: Firewalls provide protection against hacking by protecting your computer or network from…

Q: Everytime I input these answers they're being marked incorrect:

A: Introduction:- Break-even point point means, where no profit or loss At Break-even point point,…

Q: Which of the following are examples of how IP can be commercialised? (you may tick more than one…

A: Answer:Licensing and franchising are examples of how intellectual property (IP) can be…

Q: Why use categories? Select one: They help you find and sort e-mails later on. They look good, but…

A: In the context of emails, categories are used to organize and manage emails effectively. They are…

Q: A lessee should initially measure a lease liability at: O a. The present value of the lease payments…

A: According to IFRS 16, the lease liability is the present value of the total amount of financial…

Q: What are the computer ethical issues regarding privacy?

A: Definition: Ethics can be defined as conduct adopted by an individual in making the selection…

Q: IFRS16 allows lessees not to recognise a right-of-use asset or a lease liability for certain types…

A: The right-of-use asset is a lessee's right to use an asset over the life of a lease. It is recorded…

Q: Which of the following is considered an ethical use of third-party data? More than one answer may be…

A: The correct answer is: (A) to collect data from individuals for CRM purpose if it is clearly…

Q: Company W acquired a wastewater treatment plant for 30,000, depreciable over 10 years. The company…

A: Government grant means the amount received from government free of cost. It is received by specified…

Q: What is the effect of not returning all client-provided documents upon request?

A: If an auditor is not returning all client provided documents upon request, then this act is an…

Q: Please give me an example of the relationship between two entities? Please don't use the student and…

A: The objective of this question is to provide an example of a relationship between two entities in a…

Q: How can the owners be disclaimers?

A: A disclaimer is a term utilized to define or restrict the range of duties and rights enforceable in…

Q: Why is it necessary to continue to maintain and improve an existing Web site?

A: Regularly updating and maintaining website is crucial to ensuring that site is running at full…

Q: On 31st of July 2023, Dino Plc which has a financial year end at 31st of March bought a bespoke…

A: Expenses means the amount spent for running the business. Fixed assets means the amount spent on…

Q: What is the primary difference between purchasing licensed software from a software manufacturer and…

A: First of all, let's try to look at what is licensed software from software manufacturer and an Open…

Q: Encryption a. avoids the need for separation of duties. b. creates firewalls to protect data. c.…

A: Encryption:   Encryption is a process of dividing the message into several blocks of information for…

Q: (1) Is COSO relevant for internal control?

A: COSO: The COSO (Committee of Sponsoring Organization) Framework is a structure for planning,…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.