Financial information that is capable of making a difference in a decision is An

Question

Financial information that is capable of making a difference in a decision is

Answer

faithfully representative.

relevant.

convergent.

D) generally accepted.


15 . The Duce Company has five plants nationwide that cost a total of $100 million. The current fair value of the plants is $500 million. The plants will be recorded and reported as assets at
*a. $100 million.
b.   $600 million.
c.   $400 million.
d.   $500 million.

faithfully representative.

relevant.

convergent.

D) generally accepted.


15 . The Duce Company has five plants nationwide that cost a total of $100 million. The current fair value of the plants is $500 million. The plants will be recorded and reported as assets at
*a. $100 million.
b.   $600 million.
c.   $400 million.
d.   $500 million.

Explanation / Answer

1a) Relevant

Reliability and relevancy these two are the primary qualities for decision making

2)Assets are recorded at $100 million

According to cost principle assets are recorded at their original cost and not at fair market value.

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.