An article in the financial press stated, More than half of software maker Comserves net worth is
Question:
An article in the financial press stated, “More than half of software maker Comserve’s net worth is in a pile of tapes and ring-bound books. That raises some accountants’ eyebrows.” What is the profession’s position regarding the incurrence of costs for computer software that will be sold?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
The professions position is that costs incurred internally in creating ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
Students also viewed these Accounting questions
-
An article in the financial press entitled Important Information in Annual Reports This Year noted that annual reports include a managements discussion and analysis section. What would this section...
-
More than half of Californias doctors say they are so frustrated with managed care they will quit, retire early, or leave the state within three years. This conclusion from an article titled Doctors...
-
In sub-Saharan Africa, more than half of mothers lose at least one child before the childs first birthday. Below are data on 36 countries in the region, giving country, infant mortality, per capita...
-
The Commerce Department reported that in December 2015, retail sales rose by 0.2, net exports decreased, inventories held by businesses rose by 0.1 percent, and total sales by businesses fell by 0.6...
-
Sarah Aiken is the owner of Pretty Paws, a dog-grooming service. At standard, it takes 1 hour to groom each dog. During the month of October, it took Pretty Paws employees 350 hours to groom 300...
-
The bar has a cross-sectional area of 400(10 6 ) m 2 . If it is subjected to a uniform axial distributed loading along its length and to two concentrated loads, determine the average normal stress in...
-
Explain the use of forward contracts as a hedge of an unrecognized firm commitment. LO6
-
The amount of denim used daily by the Southwest Apparel Company in its manufacturing process to make jeans is normally distributed with an average of 4000 yards of denim and a standard deviation of...
-
mario company experienced fhe following events Mario Company experienced the following events: 1. Purchased merchandise inventory for cash. 2. Sold merchandise inventory on account. Label the revenue...
-
1. How did an undergraduate student accomplish what the Department of Education, state and local school boards, and the national Parent-Teacher Association were unable to achieve despite trying for...
-
Briefly discuss the convergence efforts that are underway in the area of intangible assets .
-
Garfunkel, Inc. has incurred $6 million in developing a computer software product for sale to third parties. Of the $6 million costs incurred, $4.5 million is capitalized. The product produced from...
-
The op-amps in the circuit in Figure P14.49 have an offset voltage \(V_{O S}=2 \mathrm{mV}\), an average input bias current of \(I_{B}=0.2 \mu \mathrm{A}\), and an offset current of \(I_{O S}=0.02...
-
Write a java program that contain two overloaded methods that accepts two numbers or two characters representing a range example (11, 37) or (c, w) inputted by the user. The method generates a random...
-
Maggie could not conceive a child using natural means, so she sought out a woman who would donate an egg to be surgically implanted in Maggie. Which of the following items are deductible by Maggie in...
-
M corporation is subject to tax only in state b state b law provides for the use of federal taxable income before net operating loss and special deductions as the starting point for computing state...
-
Use Routh Criteria to determine the values of K needed for the system represented by the Characteristic Equation to be stable. (1 + K)s + (2K + 3)s + 2 3K = 0 Obtain the root locus plot for the...
-
Q7 a) Two forces equal to 2P and P act on a particle. If the first be doubled and second is increased by 12N, the direction of resultant remains unaltered. Find the value of P (5)
-
How did we manage the project implementation?
-
Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When...
-
If the str variable contains the string "Redmond", which pseudocode statement changes its contents to "Red"? a. delete(str, 3, length(str)) b. delete(str, 3, 6) c. Set str = str "mond" d. Set str[0]...
-
What are the principal considerations of a board of directors in making decisions involving dividend declarations? Discuss briefly.
-
What are the principal considerations of a board of directors in making decisions involving dividend declarations? Discuss briefly.
-
What are the principal considerations of a board of directors in making decisions involving dividend declarations? Discuss briefly.
-
Vaughn Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the...
-
To fund your dream around-the-world vacation, you plan to save $1,300 per year for the next 14 years starting one year from now. If you can earn an interest rate of 5.83 percent, how much will you...
-
On NSE (Indian stock exchange), shares of ICICI Bank trade for 935 rupees. If the spot exchange rate is USD 0.012, what is the no-arbitrage USD price of ICICI Bank ADR? Assume that transactions costs...
Study smarter with the SolutionInn App