subject
Business, 28.12.2019 07:31 vaniavidal666

Anonprofit museum holds a valuable collection of art works. on reviewing the museum's financial statements, a new trustee notices that the statement of financial position contains no line item for inventory of art works. he is told by the accountant that the museum has never taken an inventory because "it would cost too much." what are the accounting requirements regarding capitalization of the art works?

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 12:30
Suppose a holiday inn hotel has annual fixed costs applicable to its rooms of $1.2 million for its 300-room hotel, average daily room rents of $50, and average variable costs of $10 for each room rented. it operates 365 days per year. the amount of operating income on rooms, assuming an occupancy* rate of 80% for the year, that will be generated for the entire year is *occupancy = % of rooms rented
Answers: 1
question
Business, 22.06.2019 13:00
Explain the relationship between consumers and producers in economic growth and activity
Answers: 1
question
Business, 22.06.2019 14:00
Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.
Answers: 1
question
Business, 22.06.2019 21:00
You have $5,300 to deposit. regency bank offers 6 percent per year compounded monthly (.5 percent per month), while king bank offers 6 percent but will only compounded annually. how much will your investment be worth in 17 years at each bank
Answers: 3
You know the right answer?
Anonprofit museum holds a valuable collection of art works. on reviewing the museum's financial stat...
Questions
question
Mathematics, 28.11.2020 18:50
question
Mathematics, 28.11.2020 18:50
Questions on the website: 13722367