Inflation - End of Chapter Problem Some economic historians have noted that during the period of the gold standard, gold discoveries were most likely to occur after a long deflation Which of the following explanations is the most likely reason for this? a. After a long period of deflation, the government would charter prospectors to find gold deposits to help alleviate the deflation The government knew where all the gold deposits were. b. When deflation went on for too long, it would tip off prospectors to help alleviate the deflation. c. After a long period of deflation, an ounce of gold would buy more goods and services. This created a greater incentive to look for new gold deposits: e. After a long period of dellation, an ounce of gold was worth a lot less in terms of goods and services. This created a greater incentive to look for new gold deposits.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.

Post test question number 9 for entering the job market

Martha entered into a contract with terry, an art dealer. according to the contract, terry was to supply 18 th century artifacts to martha for the play she was directing, and martha was ready to pay $50,000 for this. another director needed the same artifacts and was ready to pay $60,000. terry decided not to sell the artifacts to martha. in this case, the court may order terry to: