10. One of the following is not correct about IASC: - (1.5 Points) IASC was having a special relationship with the International accounting profession. All choices are correct IASC Board used to have meeting about each month in London, ASG members are representatives of specific More 13. Hamza Co. sells furniture products with same gross profit. If you know that the sale price for a unit is $2000 and the gross profit margin is %35 for a unit. Hamza Co. had the following information for the period: Total sales of $800.000 Beginning inventory $90.000 New Purchases $550,000 Required: Compute the ending inventory cost. (2 Points) 120000 about ABC 14. The following information is about ABC Inc. during month of July: Raw material purchases at cost of $4,000 Transportation in cost at $300 Import duties costing $400 Purchases discount is $200 Direct manufacturing labor costs $2,000. Indirect manufacturing overhead costs $500 Storage cost $600 Compute the "cost of purchase inventory": (2 Points) 4500 o strengthen 13. Hamza Co. sells furniture products with same gross profit. If you know that the sale price for a unit is $2000 and the gross profit margin is %35 for a unit. Hamza Co. had the following information for the period Total sales of $800,000 Beginning inventory $90,000 New Purchases $550.000 Required: Compute the ending inventory cost (2 Points) 120000 14 The following information is about ABD du month of duly, is one that is likely to be settled within the normal operating cycle or 12 months after balance sheet date, held for trading purposes, or there is no unconditional right to defer settlement for at least 12 months after "balance sheet date * This is a definition of (ik 1.5) Non-current liabilities Non current assets Current assets Current liabilities o Dne of the following correct 8. IASC Board was replaced by IASB as the body in charge of setting the international standards in 2001, the fundamental changes of the international accounting standard-setting process were made to become more: (1-5 Points) O All choices are correct legitimacy More One of the following is not correct about 7 IASC : (1.5 ) IASC Board used to have meeting about each month in London All choices are correct IASC was having a special relationship with the international accounting profession TASC's members are representatives of specific national accountancy bodies or other organizations TASC Board was replaced base as the body in charge of setting the international dan Pant the form