Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. under traditional accounting methodology, historic

Under traditional accounting methodology, historical cost is the accounting evaluation tool. However, when consolidations are...

70.2K

Verified Solution

Question

Accounting

Under traditional accounting methodology, historical cost is the accounting evaluation tool. However, when consolidations are implemented, the fair market value is used. Please consider the following questions:

Why is it important that consolidations prescribe to fair value?

When is the adjustment made?

How often is the adjustment recalculated?

How are the adjustments kept?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Plot the point given in polar coordinates 2 4 Select the graph that represents the...

Basic Math
Q

1. Which cells \"costimulate\" cytotoxic T cells and B cells by secreting cytokines? 2. What are the functions...

Medical Sciences
Q

g)When at least 50% copper material is alloyed with ..............................., ……………. material is obtained h)Alloys with the...

Mechanical Engineering
Q

ASSIGNMENT 1 TOPIC: INTRODUCTION OF FLUID MECHANICS GROUP MEMBERS Name Matrix Number QUESTION 1: 10 MARKS In your own words, explain...

Mechanical Engineering
Q

On average, indoor cats live to 15 years old with a standard deviation of 2.7 years....

Basic Math
Q

Which of the following is true of the U.S. Marine Hospital Number 43?It was the...

Biology
Q

1 point A uniform electric field is established on two plates that are 0 0300m...

Physics
Q

Is this a function OA 10 3 A yes B no 5 7 2 2...

Basic Math
Q

Leisure City has an Electric Utility Enterprise Fund (EUEF) that provides electric power to its...

Accounting
Q

Pastina Company manufactures and sells various types of pasta to grocery chains as private label...

Accounting
Q

Mount Company incurreed a total cost of $8600 to produce 400 units of pulp. Each...

Accounting
Q

You have been offered a unique investment opportunity. If you invest $9,900 today, you will...

Finance