Under ifrs the test for asset impairment is to compare the carrying value of the asset to its recoverable amount. which of the following is the recoverable amount according to ifrs? a. the greater of future undiscounted cash flows or future discounted cash flows. b. the greater of future discounted cash flows or fair value. c. the greater of fair value less cost to sell or value in use. d. the greater of fair value or value in use.

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should