Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I want to solve the correct choice without explanation Al-Taqwa Company signed a contract with a customer to sell its products represented by {1,000 units

I want to solve the correct choice without explanation

Al-Taqwa Company signed a contract with a customer to sell its products represented by {1,000 units of commodity (A), 2,000 units of commodity (B) and 2,000 units of commodity (C)} for a total price of 180,000 dinars. The company is obligated to fulfill the obligation for each of the products in At different times, the company sells regularly and separately for product (A) and therefore the stand-alone selling price is directly observable, the selling prices are independent of products (B) and (c) are not directly observable, and the company has used the modified market valuation approach for product (b) and expected cost plus margin The profit for product (C) The company estimates the total independent selling prices as follows {The total selling price of product (A) is 60,000 dinars, the total selling price of product (B) is 90,000 dinars, the total selling price of product (C) is 50,000 dinars} in light of That information and based on the requirements of International Standard No. (15), the selling price assigned to product (B) is: *

A - 60000 dinars

B - 72000 dinars

C - 81,000 dinars

D - 40,000 dinars

E- Not from what was previously mentioned

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Quickstudy Reference Tool

Authors: Michael P Griffin

1st Edition

1423236408, 978-1423236405

More Books

Students also viewed these Accounting questions

Question

1. In what ways has flexible working revolutionised employment?

Answered: 1 week ago