The iasb and fasb are working on several joint projects. what is the purpose of the financial statement presentation project? to provide guidance on the application of the acquisition method. to enhance the usefulness of information in assessing the financial performance of the reporting enterprise. to develop a common comprehensive standard on revenue recognition. to develop a common conceptual framework that both boards can use as a basis for future standard-setting. to agree upon financial statement titles that will have no differentiation after translation to various languages.

Identify which of the twelve basic functions listed below fit the description given.

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr