This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a government is obligated to legally report information in a manner that differs from GAAP A. ... (Read 68 times)

altibaby

  • Hero Member
  • *****
  • Posts: 562
on: Jul 6, 2018
If a government is obligated to legally report information in a manner that differs from GAAP
 
  A. GAAP take precedence over the legal requirements.
  B. Legal requirements take precedence over GAAP.
  C. Both GAAP requirements and legal requirements must be met.
  D. Information should be presented that meets as many legal requirements as possible without violating GAAP in a material manner.

Question 2

If Ending Merchandise Inventory is 22,000, Purchases are 85,000, Purchases Discounts are 1,800, Freight In is 3,500, and Beginning Merchandise Inventory is 28,000, then Cost of Goods Sold is
 a. 80,700.
  b. 90,300.
  c. 79,700.
  d. 92,700.
  e. 107,000.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Yixagurpuldink

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 6, 2018
Answer to Question 1

C

Answer to Question 2

D


altibaby

  • Member
  • Posts: 562
Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Examining the survivorship curve of a Dall mountain sheep population reveals information on the caus Examining the survivorship curve of a Dall mountain sheep population reveals information on the caus
Coding of Olfactory Information Coding of Olfactory Information
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Comparing Traditional and Industrialized (and Information) Societies Comparing Traditional and Industrialized (and Information) Societies
The driver information display on a Chevrolet Impala with a 5.3 liter V-8 equipped with active fuel ... The driver information display on a Chevrolet Impala with a 5.3 liter V-8 equipped with active fuel ...
American Government: Roots and Reform, 2009 Edition American Government: Roots and Reform, 2009 Edition
Video: Pores and Ion Channels

For a complete list of videos, visit our video library