Gross profit is to be apportioned between pre- and post-incorporation periods in: (a). Time ratio (b). Adjusted
Question:
Gross profit is to be apportioned between pre- and post-incorporation periods in:
(a). Time ratio
(b). Adjusted time ratio
(c). Sales ratio
(d). None of the above.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (3 reviews)
c ...View the full answer
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
4.30+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A 256 consecutive bytes section of the memory must be tested to see if it contains a zero or not. This section starts at address xxx. xxx has an offset of Off setxxx. Write a subprogram to realize...
-
Suppose you invest $1000 into a mutual fund that is expected to earn a rate of return of 10%. The amount of money will you have in ten years is closest to which of the following? The amount you will...
-
Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested...
-
One end of a light, elastic string, of natural length 1.2m and modulus of elasticity 32N, is attached to a fixed point, B. A particle, P, of mass 1.5 kg, is then attached to the other end of the...
-
On April 18, 2011, Petros buys all the assets of Brigids Muffler Shop. Included in the purchase price of $295,000 is a payment of $20,000 to Brigid not to open a competing shop in the state for a...
-
Name six bases used for applying overhead. What factors must be considered in the selec tion of a particular base?. LO6
-
Will you have an accident? The probability that a randomly chosen driver will be involved in an accident in the next year is about 0.2. This is based on the proportion of millions of drivers who have...
-
Noah and Joan Arc live with their family in Dayton, OH. Noahs Social Security number is 434-11-3311. Noah was born on February 22, 1983, and Joan was born on July 1, 1984. Both enjoy good health and...
-
Case 2. Annual Budget and Budgeted Financial Statements This case study provides practice in preparing an annual budget for a company, including budgeted financial statements. This case is not a...
-
True and False. For calculating pre-incorporation profit, date of commencement of business is the relevant date in the case of the company over a period of time.
-
How do you apportion various expenses and incomes between Pre- and Postincorporation Periods?
-
For each blank select one entry from the corresponding column of choices. Fill all blanks in the way that best completes the text. Hand-cuffing the two ____(i)____ men stopped the ____(ii)____...
-
Woodland Wearables produces two models of smartwatches, the Basic and the Flash. The watches have the following characteristics:Basic Flash Selling price per watch$ is 270$ 460 Variable cost per...
-
Based on the information provided and recognizing the value of coordinating across its portfolio of businesses, how should LendingTree manage these newer businesses? * as more integrated units * as...
-
Trust Fund Worksheet Background An inter vivos trust was created by Isaac Posney. Isaac owned a large department store in Juggins, Utah. Adjacent to the store, Isaac also owned a tract of land that...
-
A popular theory is that presidential candidates have an advantage if they are taller than their main opponents. Listed are heights (in centimeters) of randomly selected presidents along with the...
-
Gracia Enterprises operates across five industries. Task 1 : After reviewing the information provided, determine which of the five operating segments are reportable based on the revenue test, asset...
-
Logan could also borrow euros at an interest rate that is lower than the U.S. or British rate. The values of the euro and pound tend to move in the same direction against the dollar but not always by...
-
Use the method of Example 4.29 to compute the indicated power of the matrix. 1 0 1
-
Which of the following statement is not correct? A. Depreciation will vary directly with the useful life of the asset B. The higher the residual value, the lower will be the depreciation charge C....
-
The useful life of an asset is: A. Its service life B. Its physical life C. None of the above
-
Residual value is specifically A. Scrap value B. The estimated value of a fixed asset at the end of its economic life C. The estimated value of a fixed asset at the end of its physical life
-
thumbs up if correct A stock paying no dividends is priced at $154. Over the next 3-months you expect the stock torpeither be up 10% or down 10%. The risk-free rate is 1% per annum compounded...
-
Question 17 2 pts Activities between affiliated entities, such as a company and its management, must be disclosed in the financial statements of a corporation as O significant relationships O segment...
-
Marchetti Company, a U.S.-based importer of wines and spirits, placed an order with a French supplier for 1,000 cases of wine at a price of 200 euros per case. The total purchase price is 200,000...
Study smarter with the SolutionInn App