Question 12 20 pts Explain five criteria of Statement No. 52 in deter.pdf
•
0 likes•9 views
Question 12 20 pts Explain five criteria of Statement No. 52 in determining the foreign currency as the functional currency. HTML Editor Paragraph ? Solution Answer) Application of this Statement will affect financial reporting of most companies operating in foreign countries. The differing operating and economic characteristics of varied types of foreign operations will be distinguished in accounting for them. Adjustments for currency exchange rate changes are excluded from net income for those fluctuations that do not impact cash flows and are included for those that do. The requirements reflect these general conclusions: The economic effects of an exchange rate change on an operation that is relatively self-contained and integrated within a foreign country relate to the net investment in that operation. Translation adjustments that arise from consolidating that foreign operation do not impact cash flows and are not included in net income. The economic effects of an exchange rate change on a foreign operation that is an extension of the parent\'s domestic operations relate to individual assets and liabilities and impact the parent\'s cash flows directly. Accordingly, the exchange gains and losses in such an operation are included in net income. Contracts, transactions, or balances that are, in fact, effective hedges of foreign exchange risk will be accounted for as hedges without regard to their form. More specifically, this Statement replaces FASB Statement No. 8, Accounting for the Translation of Foreign Currency Transactions and Foreign Currency Financial Statements, and revises the existing accounting and reporting requirements for translation of foreign currency transactions and foreign currency financial statements. It presents standards for foreign currency translation that are designed to (1) provide information that is generally compatible with the expected economic effects of a rate change on an enterprise\'s cash flows and equity and (2) reflect in consolidated statements the financial results and relationships as measured in the primary currency in which each entity conducts its business (referred to as its \"functional currency\"). An entity\'s functional currency is the currency of the primary economic environment in which that entity operates. The functional currency can be the dollar or a foreign currency depending on the facts. Normally, it will be the currency of the economic environment in which cash is generated and expended by the entity. An entity can be any form of operation, including a subsidiary, division, branch, or joint venture. The Statement provides guidance for this key determination in which management\'s judgment is essential in assessing the facts. A currency in a highly inflationary environment (3-year inflation rate of approximately 100 percent or more) is not considered stable enough to serve as a functional currency and the more stable currency of the reporting parent is to be used instead. The functio.
Report
Share
Report
Share
Download to read offline
Recommended
Translation of Foreign Currency in Financial Statements An.docx
Translation of Foreign Currency in Financial Statements
And
Preparation of Journal Entries
This week’s focus is on the translation of foreign currency financial statements for the purpose of
preparing consolidated financials and also posting journal entries.
When preparing consolidated financial statements on a worldwide basis, the foreign currency financial
statements prepared by foreign operations must be translated into the parent company’s reporting
currency.
Issues related to this translation:
1. Which method should be used, and
2. Where should the resulting translation adjustment be reported in the consolidated financial
statements.
Translation methods differ on the basis of which accounts are translated at the current exchange rate
and which are translated at historical rates. Accounts translated at the current exchange rate are
exposed to translation adjustment (balance sheet exposure).
Different translation methods give rise to different concepts of balance sheet exposure and translation
adjustments of differing sign and magnitude.
There are four major methods of translating foreign currency financial statements:
1. current/noncurrent method
2. monetary/non-monetary method
3. temporal method
4. current rate
We will be focusing on the temporal and current rate methods.
CURRENT RATE METHOD
All assets and liabilities are translated at the current exchange rate giving rise to a balance sheet
exposure equal to the foreign subsidiary’s net assets. Stockholders’ equity accounts are translated at
historical exchange rates. Income statement items are translated at the average exchange rate for the
current period.
Appreciation of the foreign currency results in a positive translation adjustment
Depreciation of the foreign currency results in a negative translation adjustment
Translating all assets and liabilities at the current exchange rate maintains the relationships that exist in
the foreign currency financial statements.
Translating assets carried at historical cost at the current exchange rate results in amounts being
reported on the parent’s consolidated balance sheet that have no economic meaning.
TEMPORAL METHOD
A method of foreign currency translation that uses exchange rates based on the time assets and
liabilities are acquired or incurred. The exchange rate used also depends on the method of valuation
that is used. Assets and liabilities valued at current costs use the current exchange rate and those that
use historical exchange rates are valued at historical costs. Source: INVESTOPEDIA
With the temporal method assets are carried at current or future value (cash, marketable securities,
receivables) and liabilities are re-measured at the current exchange rate.
Assets carried at historical cost and stockholders’ equity accounts are re-measured at historical
exchange rates.
Expenses related to assets re ...
CHAPTER 11 Translation ExposureWhat gets measured gets managed..docx
CHAPTER 11 Translation Exposure
What gets measured gets managed.
—Anonymous
LEARNING OBJECTIVES
■Examine how the process of consolidation of a multinational firm’s financial results creates translation exposure
■Illustrate both the theoretical and practical differences between the two primary methods of translating or remeasuring foreign currency-denominated financial statements
■Understand how translation can potentially alter the value of a multinational firm
■Explore the costs, benefits, and effectiveness of managing translation exposure
Translation exposure, the second category of accounting exposures, arises because financial statements of foreign subsidiaries—which are stated in foreign currency—must be restated in the parent’s reporting currency so that the firm can prepare consolidated financial statements. Foreign subsidiaries of U.S. companies, for example, must restate foreign currency-denominated financial statements into U.S. dollars so that the foreign values can be added to the parent’s U.S. dollar-denominated balance sheet and income statement. Using our example U.S. firm, Ganado, this is shown conceptually in Exhibit 11.1. This accounting process is called translation. Translation exposure is the potential for an increase or decrease in the parent’s net worth and reported net income that is caused by a change in exchange rates since the last translation.
Although the main purpose of translation is to prepare consolidated financial statements, translated statements are also used by management to assess the performance of foreign subsidiaries. While such assessment by management might be performed using the local currency statements, restatement of all subsidiary statements into the single “common denominator” of one currency facilitates management comparison. This chapter reviews the predominate methods used in translation today, and concludes with the Mini-Case, McDonald’s, Hoover Hedges, and Cross-Currency Swaps, illustrating how one major multinational manages its investment and translation risks.
EXHIBIT 11.1 Ganado’s Cross-Border Investments and Consolidation
Overview of Translation
There are two financial statements for each subsidiary that must be translated for consolidation: the income statement and the balance sheet. Statements of cash flow are not translated from the foreign subsidiaries. The consolidated statement of cash flow is constructed from the consolidated statement of income and consolidated balance sheet. Because the consolidated results for any multinational firm are constructed from all of its subsidiary operations, including foreign subsidiaries, the possibility of a change in consolidated net income or consolidated net worth from period to period, as a result of a change in exchange rates, is high.
For any individual financial statement, internally, if the same exchange rate were used to remeasure each and every line item on the individual statement—the income statement and balance sheet—there would b ...
Ind-As-21.pdf
To prescribe how to include foreign currency transactions and foreign
operations in the financial statements of an entity and how to translate
financial statements into a presentation currency.
Recommended
Translation of Foreign Currency in Financial Statements An.docx
Translation of Foreign Currency in Financial Statements
And
Preparation of Journal Entries
This week’s focus is on the translation of foreign currency financial statements for the purpose of
preparing consolidated financials and also posting journal entries.
When preparing consolidated financial statements on a worldwide basis, the foreign currency financial
statements prepared by foreign operations must be translated into the parent company’s reporting
currency.
Issues related to this translation:
1. Which method should be used, and
2. Where should the resulting translation adjustment be reported in the consolidated financial
statements.
Translation methods differ on the basis of which accounts are translated at the current exchange rate
and which are translated at historical rates. Accounts translated at the current exchange rate are
exposed to translation adjustment (balance sheet exposure).
Different translation methods give rise to different concepts of balance sheet exposure and translation
adjustments of differing sign and magnitude.
There are four major methods of translating foreign currency financial statements:
1. current/noncurrent method
2. monetary/non-monetary method
3. temporal method
4. current rate
We will be focusing on the temporal and current rate methods.
CURRENT RATE METHOD
All assets and liabilities are translated at the current exchange rate giving rise to a balance sheet
exposure equal to the foreign subsidiary’s net assets. Stockholders’ equity accounts are translated at
historical exchange rates. Income statement items are translated at the average exchange rate for the
current period.
Appreciation of the foreign currency results in a positive translation adjustment
Depreciation of the foreign currency results in a negative translation adjustment
Translating all assets and liabilities at the current exchange rate maintains the relationships that exist in
the foreign currency financial statements.
Translating assets carried at historical cost at the current exchange rate results in amounts being
reported on the parent’s consolidated balance sheet that have no economic meaning.
TEMPORAL METHOD
A method of foreign currency translation that uses exchange rates based on the time assets and
liabilities are acquired or incurred. The exchange rate used also depends on the method of valuation
that is used. Assets and liabilities valued at current costs use the current exchange rate and those that
use historical exchange rates are valued at historical costs. Source: INVESTOPEDIA
With the temporal method assets are carried at current or future value (cash, marketable securities,
receivables) and liabilities are re-measured at the current exchange rate.
Assets carried at historical cost and stockholders’ equity accounts are re-measured at historical
exchange rates.
Expenses related to assets re ...
CHAPTER 11 Translation ExposureWhat gets measured gets managed..docx
CHAPTER 11 Translation Exposure
What gets measured gets managed.
—Anonymous
LEARNING OBJECTIVES
■Examine how the process of consolidation of a multinational firm’s financial results creates translation exposure
■Illustrate both the theoretical and practical differences between the two primary methods of translating or remeasuring foreign currency-denominated financial statements
■Understand how translation can potentially alter the value of a multinational firm
■Explore the costs, benefits, and effectiveness of managing translation exposure
Translation exposure, the second category of accounting exposures, arises because financial statements of foreign subsidiaries—which are stated in foreign currency—must be restated in the parent’s reporting currency so that the firm can prepare consolidated financial statements. Foreign subsidiaries of U.S. companies, for example, must restate foreign currency-denominated financial statements into U.S. dollars so that the foreign values can be added to the parent’s U.S. dollar-denominated balance sheet and income statement. Using our example U.S. firm, Ganado, this is shown conceptually in Exhibit 11.1. This accounting process is called translation. Translation exposure is the potential for an increase or decrease in the parent’s net worth and reported net income that is caused by a change in exchange rates since the last translation.
Although the main purpose of translation is to prepare consolidated financial statements, translated statements are also used by management to assess the performance of foreign subsidiaries. While such assessment by management might be performed using the local currency statements, restatement of all subsidiary statements into the single “common denominator” of one currency facilitates management comparison. This chapter reviews the predominate methods used in translation today, and concludes with the Mini-Case, McDonald’s, Hoover Hedges, and Cross-Currency Swaps, illustrating how one major multinational manages its investment and translation risks.
EXHIBIT 11.1 Ganado’s Cross-Border Investments and Consolidation
Overview of Translation
There are two financial statements for each subsidiary that must be translated for consolidation: the income statement and the balance sheet. Statements of cash flow are not translated from the foreign subsidiaries. The consolidated statement of cash flow is constructed from the consolidated statement of income and consolidated balance sheet. Because the consolidated results for any multinational firm are constructed from all of its subsidiary operations, including foreign subsidiaries, the possibility of a change in consolidated net income or consolidated net worth from period to period, as a result of a change in exchange rates, is high.
For any individual financial statement, internally, if the same exchange rate were used to remeasure each and every line item on the individual statement—the income statement and balance sheet—there would b ...
Ind-As-21.pdf
To prescribe how to include foreign currency transactions and foreign
operations in the financial statements of an entity and how to translate
financial statements into a presentation currency.
Indian Accounting Standard (Ind AS) 21 The Effects of Changes in Foreign Exch...
Indian Accounting Standard (Ind AS) 21
The Effects of Changes in Foreign Exchange Rates
https://ajsh.in/
Solution Manual Advanced Accounting 9th Edition by Baker Chapter 12
Solution Manual Advanced Accounting 9th Edition by Baker Chapter 12
Foreign Currency Exposure And Risk
Risk and exposure out of international trade and business due to change in foreign currency rate
International Accounting:Foreign Currency Translation
With our professionals on your side, you do not need to worry about how you are going to get accounting assignment help, and no matter what you need, our professionals can provide! Log on to http://www.helpwithassignment.com/accounting-assignment-help
Examine the importance for business financial leaders to recognize the.docx
Examine the importance for business financial leaders to recognize the firm’s foreign currency exposure.
Solution
Foreign currency exposure means the financial risk that exists when a financial transaction is denominated in a currency other than that of the base currency of the firm.
It is important for the business financial leaders to recognize the firm’s foreign currency exposure so as to see the possible opportunities of arbitrage by holding one currency and releasing other.
If a firm has to involve in the international trade (exports / imports) then it should be having an idea about the advantages and disadvantages of functioning in the currencies of the particular markets.
Foreign exchange exposure is classified into three types viz. Transaction, Translation and Economic Exposure.
Transaction Exposure also referred to as conversion exposure or cash flow exposure. It concerns the actual cash flows involved in setting transactions denominated in a foreign currency. These could include : sales receipts, payments for goods and services, receipt and/or payment of dividends, servicing loan arrangements as regards interest and capital .
Translation exposure is also referred to as accounting exposure or balance sheet exposure. The restatement of foreign currency financial statements in terms of a reporting currency is termed translation. The exposure arises from the periodic need to report consolidated worldwide operations of a group in one reporting currency and to give some indication of the financial position of that group at those times in that currency.
Economic exposure or operational exposure moves outside of the accounting context and has to do with the strategic evaluation of foreign transactions and relationships. It concerns the implications of any changes in future cash flows which may arise on particular transactions of an enterprise because of changes in exchange rates, or on its operating position within its chosen markets. Its determination requires an understanding of the structure of the markets in which an enterprise and its competitors obtain capital, labour, materials, services and customers. Identification of this exposure focuses attention on that component of an enterprise\'s value that is dependent on or vulnerable to future exchange rate movements. This has bearing on a corporation\'s commitment, competitiveness and viability in its involvement in both foreign and domestic markets. Thus, economic exposure refers to the possibility that the value of the enterprise, defined as the net present value of future after tax cash flows, will change when exchange rates change.
.
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ...
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ...AC&C Consulting Co., Ltd.
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ratesproofReading &UnderstandingFinancial StatementsA Gui.docx
proo
fReading &Understanding
Financial Statements
A Guide to
Financial Reporting
Reading &
Understanding
Financial Statements
proo
f
proo
f
◆
© 1989-2003, 2005-2010 McGladrey & Pullen, LLP
1
proo
f
proo
f
proo
f
proo
f
Introduction
Financial statements are an important manage-
ment tool. When correctly prepared and properly
interpreted, they contribute to an understanding
of the current financial condition, problems, and
possibilities of a company.
This explanation has been prepared to help
financial and nonfinancial managers and owners
make better use of the information in
financial statements.
Specifically, this brochure describes five
financial statements:
The Balance Sheet, which is sometimes
referred to as the Statement of Financial
Condition or Statement of Financial
Position.
The Income Statement, which
is sometimes referred to as the
Statement of Income, Statement
of Operations or the Profit and
Loss Statement.
The Statement of Cash Flows.
The Statement of Comprehensive Income.
The Statement of Stockholders’ Equity, also
called the Statement of Changes in Stockholders’
Equity. If the only change in the equity accounts
is in retained earnings, this statement may be
called a Statement of Retained Earnings or simply
included on the face of the Income Statement.
These statements are prepared and presented
using technical terms and rules that are becoming
increasingly complex. Interpretation of these
statements may be a formidable challenge to
many managers and owners.
We firmly believe that — no matter how
technically correct they are — financial
statements are not useful unless they
are actually used in making business
decisions. When the statements
“gather dust” because managers
and owners do not understand what
they are saying, we feel an obligation
to help. We hope this guide to Reading
and Understanding Financial Statements will
help you to use financial statements in making
decisions, monitoring your business, and plan-
ning for future growth.
Income Statement
Summary of activity
for a period of time
Balance Sheet
Financial condition
at a point in time
Balance Sheet
Financial condition
at a point in time
proo
f
proo
f
proo
f
proo
f
◆2
Reporting of
Business Activity
Beginning of Year
January 1, 2009
End of Year
December 31, 2009
The Balance Sheet is a “photograph”: It represents, at a
moment in time, the financial position of the business
entity. It needs to be compared to other “photographs”
to provide meaningful information on changes in finan-
cial position. For that reason, the balance sheet as of the
end of one or more preceding years is usually presented
with the balance sheet as of the end of the current year.
The other primary financial statements — the Income
Statement, Statement of Cash Flows, Statement of
Comprehensive Income, and Statement of Stockholders’
Equity — present a summary of activities over a period
of time, usually a fiscal quarter or year. The Income
Stat ...
The major place where grantic continental crust is manufactured is.pdf
The major place where grantic continental crust is manufactured is
a. Over hot spots
b. In rift valleys
c. At convergent margins
d. It was apparently all produced billions of years ago and is not produced under the present
conditions of Earth
Solution
Answer is A. Materials are also added to continental crust through intrusive and extrusive
igneous activity. Plumes of magma from the Earth\'s asthenosphere are generated from the
friction produced at the contact zone where oceanic crust slides past continental crust. These
plumes then rise upward into continental crust to form granitic plutons or a variety of volcanic
features on the Earth\'s surface. A pluton can be defined as any igneous intrusion of rock that
forms a kilometre or more below the Earth\'s surface..
There seems to be some evidence supporting the idea of a political b.pdf
There seems to be some evidence supporting the idea of a political business cycle. That is, the
economy tends to experience particularly fast growth just prior to elections and slower growth or
recessions some time after elections.
A. Explain why and how this happens. That is, what is the underlying motivation of those
responsible for this effect and what actions (fiscal and/or monetary) do they take to achieve it? (4
points)
B. Use the AD/AS model and the Phillips curve model to explain what effect the actions taken in
part A will have on inflation if the economy starts from full employment. (4 points)
C. Now, it may be that the position of the Phillips curve depends on people\'s expectations. If
people have adaptive expectations and elected officials act in a way that is consistent with a
political business cycle, how is the Phillips curve likely to shift? (4 points)
D. In light of this, offer an explanation for the (actual) observation that countries with central
banks that are very independent of elected officials tend to have lower inflation than do countries
with central banks very closely tied to elected officials. Hint: Think about the ability of the
central bank to carry out appropriate policy. (4 points)
Solution
Political Business Cycles
A)
We know that political business cycle means that the role of political parties in influancing
unemployment and inflation trade off in the economic system. The political parties that are ruled
in the government then before elections they are improve the economy. At the time of elections
the ruling party will stabilize unemployment and inflation. It was done becuase they want to
recelect and again to get power. When they achieve the targeted level of inflation and
unemployment that will lead to get more votes from the next elections. So they create any policy
in the economic system just before the elections.
Some voters in the society look at the policy initiated by the ruling party. It is better than before
then they again elected the ruling party. This was the reason for higher growth in the election
time.
B)
At the time of election the ruling party is created stagnant employment and also created desired
rate of inflation. The Monetory expansion will inprove the level of inflation. When the ruling
party expected inflation that to reduced the desired level of inflation in the economy. Then the
party will take rational decision in the sitution and also use all the available information in to
considerations. Then good policy of the ruling party the Philips curve is shifted to right.
C)
We know that the philips curve represented the trade off beween inflation and unemployment.
We know that the ruling party will exploit the short run philips curve. They are creating
disinflation in the society. They can used the expansionary monetory and fiscal policy. Here we
see that the steeper short run philops curve the ability of the government will reduce their ability.
D)
The important criticism is that in th.
More Related Content
Similar to Question 12 20 pts Explain five criteria of Statement No. 52 in deter.pdf
Indian Accounting Standard (Ind AS) 21 The Effects of Changes in Foreign Exch...
Indian Accounting Standard (Ind AS) 21
The Effects of Changes in Foreign Exchange Rates
https://ajsh.in/
Solution Manual Advanced Accounting 9th Edition by Baker Chapter 12
Solution Manual Advanced Accounting 9th Edition by Baker Chapter 12
Foreign Currency Exposure And Risk
Risk and exposure out of international trade and business due to change in foreign currency rate
International Accounting:Foreign Currency Translation
With our professionals on your side, you do not need to worry about how you are going to get accounting assignment help, and no matter what you need, our professionals can provide! Log on to http://www.helpwithassignment.com/accounting-assignment-help
Examine the importance for business financial leaders to recognize the.docx
Examine the importance for business financial leaders to recognize the firm’s foreign currency exposure.
Solution
Foreign currency exposure means the financial risk that exists when a financial transaction is denominated in a currency other than that of the base currency of the firm.
It is important for the business financial leaders to recognize the firm’s foreign currency exposure so as to see the possible opportunities of arbitrage by holding one currency and releasing other.
If a firm has to involve in the international trade (exports / imports) then it should be having an idea about the advantages and disadvantages of functioning in the currencies of the particular markets.
Foreign exchange exposure is classified into three types viz. Transaction, Translation and Economic Exposure.
Transaction Exposure also referred to as conversion exposure or cash flow exposure. It concerns the actual cash flows involved in setting transactions denominated in a foreign currency. These could include : sales receipts, payments for goods and services, receipt and/or payment of dividends, servicing loan arrangements as regards interest and capital .
Translation exposure is also referred to as accounting exposure or balance sheet exposure. The restatement of foreign currency financial statements in terms of a reporting currency is termed translation. The exposure arises from the periodic need to report consolidated worldwide operations of a group in one reporting currency and to give some indication of the financial position of that group at those times in that currency.
Economic exposure or operational exposure moves outside of the accounting context and has to do with the strategic evaluation of foreign transactions and relationships. It concerns the implications of any changes in future cash flows which may arise on particular transactions of an enterprise because of changes in exchange rates, or on its operating position within its chosen markets. Its determination requires an understanding of the structure of the markets in which an enterprise and its competitors obtain capital, labour, materials, services and customers. Identification of this exposure focuses attention on that component of an enterprise\'s value that is dependent on or vulnerable to future exchange rate movements. This has bearing on a corporation\'s commitment, competitiveness and viability in its involvement in both foreign and domestic markets. Thus, economic exposure refers to the possibility that the value of the enterprise, defined as the net present value of future after tax cash flows, will change when exchange rates change.
.
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ...
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ...AC&C Consulting Co., Ltd.
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ratesproofReading &UnderstandingFinancial StatementsA Gui.docx
proo
fReading &Understanding
Financial Statements
A Guide to
Financial Reporting
Reading &
Understanding
Financial Statements
proo
f
proo
f
◆
© 1989-2003, 2005-2010 McGladrey & Pullen, LLP
1
proo
f
proo
f
proo
f
proo
f
Introduction
Financial statements are an important manage-
ment tool. When correctly prepared and properly
interpreted, they contribute to an understanding
of the current financial condition, problems, and
possibilities of a company.
This explanation has been prepared to help
financial and nonfinancial managers and owners
make better use of the information in
financial statements.
Specifically, this brochure describes five
financial statements:
The Balance Sheet, which is sometimes
referred to as the Statement of Financial
Condition or Statement of Financial
Position.
The Income Statement, which
is sometimes referred to as the
Statement of Income, Statement
of Operations or the Profit and
Loss Statement.
The Statement of Cash Flows.
The Statement of Comprehensive Income.
The Statement of Stockholders’ Equity, also
called the Statement of Changes in Stockholders’
Equity. If the only change in the equity accounts
is in retained earnings, this statement may be
called a Statement of Retained Earnings or simply
included on the face of the Income Statement.
These statements are prepared and presented
using technical terms and rules that are becoming
increasingly complex. Interpretation of these
statements may be a formidable challenge to
many managers and owners.
We firmly believe that — no matter how
technically correct they are — financial
statements are not useful unless they
are actually used in making business
decisions. When the statements
“gather dust” because managers
and owners do not understand what
they are saying, we feel an obligation
to help. We hope this guide to Reading
and Understanding Financial Statements will
help you to use financial statements in making
decisions, monitoring your business, and plan-
ning for future growth.
Income Statement
Summary of activity
for a period of time
Balance Sheet
Financial condition
at a point in time
Balance Sheet
Financial condition
at a point in time
proo
f
proo
f
proo
f
proo
f
◆2
Reporting of
Business Activity
Beginning of Year
January 1, 2009
End of Year
December 31, 2009
The Balance Sheet is a “photograph”: It represents, at a
moment in time, the financial position of the business
entity. It needs to be compared to other “photographs”
to provide meaningful information on changes in finan-
cial position. For that reason, the balance sheet as of the
end of one or more preceding years is usually presented
with the balance sheet as of the end of the current year.
The other primary financial statements — the Income
Statement, Statement of Cash Flows, Statement of
Comprehensive Income, and Statement of Stockholders’
Equity — present a summary of activities over a period
of time, usually a fiscal quarter or year. The Income
Stat ...
Similar to Question 12 20 pts Explain five criteria of Statement No. 52 in deter.pdf (20)
Indian Accounting Standard (Ind AS) 21 The Effects of Changes in Foreign Exch...
Indian Accounting Standard (Ind AS) 21 The Effects of Changes in Foreign Exch...
Solution Manual Advanced Accounting 9th Edition by Baker Chapter 12
Solution Manual Advanced Accounting 9th Edition by Baker Chapter 12
International Accounting:Foreign Currency Translation
International Accounting:Foreign Currency Translation
Examine the importance for business financial leaders to recognize the.docx
Examine the importance for business financial leaders to recognize the.docx
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ...
Vietnam Accounting Standards - VAS 10 Effects of changes in foreign exchange ...
Ias 21 the effects of changes in foreign exchange rates
Ias 21 the effects of changes in foreign exchange rates
proofReading &UnderstandingFinancial StatementsA Gui.docx
proofReading &UnderstandingFinancial StatementsA Gui.docx
More from expressionnoveltiesk
The major place where grantic continental crust is manufactured is.pdf
The major place where grantic continental crust is manufactured is
a. Over hot spots
b. In rift valleys
c. At convergent margins
d. It was apparently all produced billions of years ago and is not produced under the present
conditions of Earth
Solution
Answer is A. Materials are also added to continental crust through intrusive and extrusive
igneous activity. Plumes of magma from the Earth\'s asthenosphere are generated from the
friction produced at the contact zone where oceanic crust slides past continental crust. These
plumes then rise upward into continental crust to form granitic plutons or a variety of volcanic
features on the Earth\'s surface. A pluton can be defined as any igneous intrusion of rock that
forms a kilometre or more below the Earth\'s surface..
There seems to be some evidence supporting the idea of a political b.pdf
There seems to be some evidence supporting the idea of a political business cycle. That is, the
economy tends to experience particularly fast growth just prior to elections and slower growth or
recessions some time after elections.
A. Explain why and how this happens. That is, what is the underlying motivation of those
responsible for this effect and what actions (fiscal and/or monetary) do they take to achieve it? (4
points)
B. Use the AD/AS model and the Phillips curve model to explain what effect the actions taken in
part A will have on inflation if the economy starts from full employment. (4 points)
C. Now, it may be that the position of the Phillips curve depends on people\'s expectations. If
people have adaptive expectations and elected officials act in a way that is consistent with a
political business cycle, how is the Phillips curve likely to shift? (4 points)
D. In light of this, offer an explanation for the (actual) observation that countries with central
banks that are very independent of elected officials tend to have lower inflation than do countries
with central banks very closely tied to elected officials. Hint: Think about the ability of the
central bank to carry out appropriate policy. (4 points)
Solution
Political Business Cycles
A)
We know that political business cycle means that the role of political parties in influancing
unemployment and inflation trade off in the economic system. The political parties that are ruled
in the government then before elections they are improve the economy. At the time of elections
the ruling party will stabilize unemployment and inflation. It was done becuase they want to
recelect and again to get power. When they achieve the targeted level of inflation and
unemployment that will lead to get more votes from the next elections. So they create any policy
in the economic system just before the elections.
Some voters in the society look at the policy initiated by the ruling party. It is better than before
then they again elected the ruling party. This was the reason for higher growth in the election
time.
B)
At the time of election the ruling party is created stagnant employment and also created desired
rate of inflation. The Monetory expansion will inprove the level of inflation. When the ruling
party expected inflation that to reduced the desired level of inflation in the economy. Then the
party will take rational decision in the sitution and also use all the available information in to
considerations. Then good policy of the ruling party the Philips curve is shifted to right.
C)
We know that the philips curve represented the trade off beween inflation and unemployment.
We know that the ruling party will exploit the short run philips curve. They are creating
disinflation in the society. They can used the expansionary monetory and fiscal policy. Here we
see that the steeper short run philops curve the ability of the government will reduce their ability.
D)
The important criticism is that in th.
The CSUN IEEE chapter is to choose a president, treasurer and secret.pdf
The CSUN IEEE chapter is to choose a president, treasurer and secretary, all different, from a
group of 10 students. How many different choices of officers are possible if:
a. There are no restrictions
b. A and B will not serve together
c. C and D will serve together or not at all
d. E must be an officer
e. F will serve only if he is a president.
Solution
a.There are no restrictions- 10C3
e. F will serve only if he is a president.-10C1.
The atmosphere on earth contains nitrogen in a form that is unusable .pdf
The atmosphere on earth contains nitrogen in a form that is unusable to plants True False
Solution
The statement is true.
Explanations: Although a sufficient amount of nitrogen gas is available in the environmental air
but the plants are biologically unable to utilize this gaseous nitrogen for various physiological
purposes. From evolutionary point of view, plants can utilize only compound form of nitrogen
solubilized as salts for biological relavance. Since nitrogen is extremely essential for bio-
synthesis of many biomolecules and sustaining life, natural methodologies to utilize the gaseous
oxygen have been developed.
A classical example for the same is presence of nitrogen-fixing bacteria in the air such as Nostoc,
Anabaena etc. These bacteria reside in the soild near the roots of legumes and pulse plants and
help in fixation of atmospheric gaseous nitrogen into soluble form. This nitrogen is then utilized
by the plants for various physiological functions..
explain how fungi acquire their nutrients. describe the basic body p.pdf
explain how fungi acquire their nutrients. describe the basic body plan of a fungus. explain how
this body plan is an adaptation that facilitates feeding the fungi
Solution
Nutrition in fungus: Fungi are heterotrohpic unicellular/multicellular eukaryotes which acquire
their food by saprophytic modes i.e. acquisition of pre-digested food/nurients from a host by
growing on it. Fungus can grow in a wide range of environment and prefer most and dampy
areas for growth. They are very rigid in their growth and can grow on a variety of substrates like
an old piece of log, grass, sand, eatables, dead animals etc.Some fungi also secrete digestive
enzymes onto their substrate for breaking down their food into smaller subunits appropriate for
direct uptake.
Structure: A fungus can be broadly divided into an aerial fruiting body and an underground
mycelium. The aerial body is divided into two parts, the upper umbrella like basidium and the
stalk called stipe. The stalk or the stem of the aerial part is made up of a bunch of linearly
arranged tubular structures called hyphae. The aerial umbrella like strucutre or basidium contains
smaller linear strips on the inner side containing fungal spores. Thus, the aerial part represents
the reproductive part of a fungus.
The underground mycelia represent the root-like structure of fungus. They penetrate into the
substratum and help in digesting the upper hard tissue of the substrate and suck the digested
nutrients/food from the host. The nutrients are then transported to the whole body of fungus
traversing through the mycelia, stipe and the basidium.
Thus, this simple body plan of a fungus helps in feeding them..
Define microbial growth. Ftsz and septum are important features of s.pdf
Define microbial growth. Ftsz and septum are important features of some binary fission
process. Explain the DNA replication conundrum and how some species are able to overcome it.
How is peptidoglycan synthesis done during cell growth? What does autolysin do? What does
penicillin block? What does MreB determine in terms of cell morphology as well as
peptidoglycan synthesis? What about bacteria that do not have MreB? How do you calculate
final cell number during growth? You should be able to draw a basic growth curve and point out
where the growth phases correspond to. Add a diauxic shift to your growth curve. What does it
represent? Sterilization vs disinfection vs decontamination Explain decimal reduction time and
thermal death time. Autoclave is necessary to kill spores because? What does pasteurization
accomplish? What other mean of killing or removing microbes are there? -static vs -cidal vs -
lytic agents What are the differences between MIC and MBC, and how are they conventionally
determined? Sterilants vs disinfectants vs sanitizers vs antiseptics/germicides
Solution
Define microbial growth.
Microbial growth refers to increase in cell number of microorganisms. Microbial growth
generally takes place due to binary fission of the microbial cells. This growth is influenced by
nutrients available and environmental conditions where the cells are growing.
Sterilization vs disinfection vs decontamination
Sterilization refers to complete elimination of microorganisms and spores.
Disinfection is the process of elimination of some of the pathogenic microorganism but not all.
Decontamination is the process of reducing the load of microorganisms from used items before
their disposal.
Autoclave is necessary to kill spores because spores are resistant forms of microbes which are
very difficult to kill. Autoclave runs on the principle of steam under pressure. Here the high
pressure combined with moist steam effectively kills bacteria along with spores.
What does pasteurization accomplish?
Pasteurization is a process where heat is used to accomplish killing of pathogenic bacteria from
foods thus making them safe to eat..
Suppose that a nation has a labor force of 100 people. In January, A.pdf
Suppose that a nation has a labor force of 100 people. In January, Amy, Barbara, Carine, and
Denise are unemployed; in February, those four find jobs, but Evan, Francesco, George, and
Horatio become unemployed. Suppose further that every month, the previous four who were
unemployed find jobs and four different people become unemployed. Throughout the year,
however, the same three people- Ito, Jack, and Kelley-continually remain unemployed because
their skills are a poor match with employers\' requirements
Solution
Though there is no question posted, but I guess you must be looking for unemployment rate.
So in total 4 + 3 people out of 100 are unemployed, so unemployment rate is 7%.
Out of this 7%, 3% (Ito, Jack, and Kelley) are unemployed because of the economic structure
and 4% (u enemployed) because of frictional nature i.r they are unemplyed because they left
their jobs to find better ones..
For which of the following types of interpolation is it possible, in .pdf
For which of the following types of interpolation is it possible, in general, to preserve
monotonicity (increasing or decreasing) in a set of n data points?
Solution
For proper interpolation, in order to pass through all n points, (n-1) degree polynomial is
sufficient in order to montonically depict the curve and satisfy all the coordinates of the n data
set points
Hence the correct answer is Option A.
SOMEONE HELP Complete sentences, stating the differences and relati.pdf
SOMEONE HELP: Complete sentences, stating the differences and relationships between the
two terms, and give specific examples where appropriate.
1. gene flow / genetic drift
2. sexual selection / artificial selection
3. ring species / biological species concept
4. hybrid inviability / temporal isolation
5. autopolyploidy / allopatric speciation
6. molecular clock / cladogram
7. gradualism / uniformitarianism
8. extreme thermophiles / viroids
9. HIV / Creutzfeld-Jakob disease
10. biofilm / microbial fuel cell
Solution
Q.No 1
Genetic drift is a mechanism of evolution of biological species that takes place because of the
change in the frequency of alleles in a population. These changes in the allele frequency in a
population occur randomly. One very common example to describe the genetic drift would be
that most of the human families have different number of boys and girls, as the X or Y alleles
have been passed differently into the new generation from the parents. Although the X and Y
alleles do not really contribute for the evolution, the frequency changes in other alleles would
have a considerable effect for evolution.
Gene flow is a process of evolution that takes place when genes or alleles move from one
population to another. It is also known as the Gene Migration, and that could cause changes in
the allele frequency as well as some variations in the gene pool of both populations. There are
some good examples to support this phenomenon from humans regarding a developed immunity
for malaria among new Western Africans after their parents mated with Europeans who initially
had the immunity. It is interesting to notice that gene flow could take place between two species,
as well.
Q.No 2
Sexual selection enhances mating success or the number of copulations, while natural selection
tends to produce well-adapted individuals to their environment. Sexual selection does not adapt
the individuals to their environment. Unlike sexual selection, natural selection acts on traits
which increase the fitness of members in a population. Certain adaptations have been derived
from the sexual selection which could never have been arisen from natural selection alone (Ex:
the neck of the giraffe, various plumages of most male birds etc.). Generally sexual selection
depends on the success of one sex while natural selection depends on the success of both sexes in
relation to the general condition of life. In most of the animals, certain traits related to their
sexual selection process do not express their characteristics until the organism is able to mate,
but naturally selected traits may occur at birth of the organism during the process of natural
selection.
Q.No 3
A ring species is a connected series of neighbouring populations, each of which can interbreed
with closely sited related populations, but for which there exist at least two \"end\" populations in
the series, which are too distantly related to interbreed, though there is a potential gene flow
between e.
Recontruct the cultural differences argumentSolutionCultural d.pdf
Recontruct the cultural differences argument
Solution
Cultural differences argument says, different cultures have different morals. As in one thing can
be wrong or illegal for ine community but it could be perfectly fine and ok with the other
community.
For eg, eating dead was considered wrong by Greeks, whereas callatians considered it as their
right. So it is just a matter of opinion which varies from culture to culture , there is no right no
wrong..
Please write a project proposal by seeing the following project repo.pdf
Please write a project proposal by seeing the following project report PDF. Your proposal should
be in IEEE format and length of six pages.please go to following link
https://github.com/iaperez/DataMiningProject-WhoMadeThatMovie
Solution
Carter and Barker (2010) describe listing as a twofold bookish discipline—the organized listing
of books (enumerative bibliography) and therefore the systematic, description of books as
physical objects (descriptive bibliography). These 2 distinct ideas and practices have separate
rationales and serve differing functions. Innovators and originators within the field embrace W.
W. Greg, Fredson Bowers, Duke of Edinburgh Elizabeth Gaskell, G. Thomas Tanselle.
Bowers (1949) refers to enumerative listing as a procedure that identifies books in “specific
collections or libraries,” in an exceedingly specific discipline, by Associate in Nursing author,
printer, or amount of production (3). He refers to descriptive listing because the systematic
description of a book as a fabric or physical object. Analytical listing, the cornerstone of
descriptive listing, investigates the printing and every one physical options of a book that yield
proof establishing a book\'s history and transmission (Feather 10). it\'s the preliminary part of
listing description and provides the vocabulary, principles and techniques of research that
descriptive bibliographers apply and on that they base their descriptive follow.
Descriptive bibliographers follow specific conventions and associated classification in their
description. Titles and title pages ar transcribed in an exceedingly quasi-facsimile vogue and
illustration. Illustration, typeface, binding, paper, and every one physical parts associated with
distinctive a book follow conventional conventions, as Bower\'s established in his foundational
piece, The Principles of listing Description. The thought expressed during this book expands
substantively on W. W. Greg\'s groundbreaking theory that argued for the adoption of formal
listing principles (Greg 29). basically, analytical listing is bothered with objective, physical
analysis and history of a book whereas descriptive listing employs all information that analytical
listing furnishes then codifies it with a read to distinctive the perfect copy or style of a book that
almost all nearly represents the printer’s initial conception and intention in printing.
In addition to viewing listing study as being composed of 4 dependent approaches (enumerative,
descriptive, analytical, and textual), Bowers notes 2 additional subcategories of analysis,
specifically historical listing and aesthetic listing.[1] each historical listing, that involves the
investigation of printing practices, tools, and connected documents, and aesthetic listing, that
examines the art of coming up with sort and books, ar typically used by analytical
bibliographers.
D. F. McKenzie extended previous notions of listing as set forth by W. W. Greg, Bowers,
Elizabeth Gaskell a.
Does a countrys Institutional and legal system play a major role i.pdf
Does a country\'s Institutional and legal system play a major role in corporate financing
decisions? If so how?
Solution
It plays a very important role. Taxation, institutional and legal systems all play a crucial role.
Tax treatment of interest, dividend, capital gains determine the capital structure and retention of
funds for investment. Also, what are the laws regarding default of payments determine the
proportion of debt. Is the institutional system so robust and developed as to allow easy raising of
funds determine the equity. The legal handling of liability to be incurred in case of any
wrongdoings or default determine the readiness of investors to invest money..
Most primate species a. live in social groups. b. live sol.pdf
Most primate species
a. live in social groups.
b. live solitary lives.
c. are only social when predator activity is high.
d. live in social groups only during the breeding season.
Solution
The most primate species live in social groups. They are very much important to ecosystems in
which they live. They are one of the best pollinators as they feed on fruits and leaves as they
move between trees. They pass the seeds in their dropings and allow plants to spread across a
wide range. Gorillas, chimpanzees, bonobos,orangutans and various other species of gibbons are
some of the examples of these primates..
please do D E and F .C. Describe loads on Structures wl liui. . D..pdf
please do D E and F .C. Describe loads on Structures wl liui. . D. Describe the concept of
equilibrium in structures with figures .E. Describe the differences between External and Internal
Forces. F. Describe Types of supports for 2D and 3D with figures. T in tho ctatically stable and
unstable as well as structurally
Solution
D-.
Male, 40 y o. comes to the office. First scheduled the appointment fo.pdf
Male, 40 y o. comes to the office. First scheduled the appointment for a nasty cold\" which has
since seemed to be resolving, but he kept the appointment anyway. He complains (aside from
resolving cold sxs) of occasional headaches sometimes quite bad. He uses Motrin (600mgs)
maybe 4 timesweek for these. He also has episodes of profuse sweating and anxiety,
accompanied by pounding heart. He doesn\'t like the suggestion these are \"panic attacks he says
his mom had those \"she was a real basket case- we didn\'t get on on very wel\" Mom is deceased
age 65. dlt stroke) occasionally he gets dizzy on standing rapidly. Sometimes constipation is a
problem. Symptoms have been present as an adult-- more with age, had been attributed to stress
at work, but wants another opinion. His work ls described as \"stressful\" around the end of the
quarter (he\'s an accountant) but not all that bad\" between-times. He works out (running and
weights) 4week. Describes himself as pretty fit, and basically looks it, sleeps 5-8 hours/night.
Sometimes better than others. No prescription drugs. Has \"a couple beer on the weekend,
marijuana 1-2/year, denies other drug use. Says he avoids coffee, especially espresso \"makes me
too jittery\" Physical: Ht, 6\'0 wt. 160 BP 136 90 HR 74 Resp 20 Reflexes (patellar, achilles)
strong. A slight tremor appears present in the arms when held out and still. No abdominal or
neck masses on palpation. no abdominal tenderness. Heart sounds are normal, rythm regular, no
murmur. Lungs- some wheeze on forced exhalation; al lobes seem clear, CBC shows Inc. RBCs,
normal morphology and hemoglobin Normal WBC count, but with lymphocytosis Platelets
unremarkable TSH is normal Blood calcium is elevated. Blood glucose is slightly elevated UA
shows a trace of glucose in the urine
Solution
Cannabis sativa also called as Indian hemp or marijuana. The plant has resin called cannobinol
it is inert, on exposed to heat converted to active isomeric tetrahydrocannabinol. It is CNS
stimulant. The leaves and fruits , we used as tea to prepare a decoction. The symptoms of
intoxication are, Feeling detachment, euphoria, rapidly changing emotions Feeling of distress
and tightness in the chest He also has increased appetite, nausea, pressure in the head, ataxia,
restlessness, tachycardia, urinary frequency. In chronic poisoning degeneration of CNS occur,
weakness, tremors, red eyes, impotence and he may develop psychosis. Hence clinical
diagnosis is marijuana poisoning. Treatment includes 100ml of 50%glucose, 2mg . Naloxone and
100mg thiamine I.v. 5to10 mg. Of diazepam used, if the aggressive patient. If flashback occurs,
give anti-anxiety and antipsychotic drugs. Psychotherapy is also given. It is not conserned with
adrinal gland or tumour..
Describe and discuss the 2 pathways for antigen processing exogenou.pdf
Describe and discuss the 2 pathways for antigen processing: exogenous and endogenous.
Solution
Answer :
Exogenous antigens: Exogenous antigens are produced outside of the host cell and enters the cell
by endocytosis or phagocytosis. These antigens includes bacteria and bacterial toxins, parasitic
worms, inhaled pollen or dust, Antigen presenting cells (macrophages, dendritic cells, and B
cells) degrade ingested exogenous antigen into peptide fragments within the endocytic
processing pathway. APCs then present the fragments to T helper cells (CD4+) by the use of
class II histocompatibility molecules on their surface.
Endogenous antigens are forgein antigens which are synthesised inside the body cells which
includes the viral proteins produced after a virus infects the cell or the abnormal prteins
synthesisd by cancerous cells. Fragments of endogenous antigens are processed and presented by
antigen presenting cells through class I MHC molecules. T cells displaying CD8 recognize
antigen associated with class I MHC molecules and thus are said to be class I MHC restricted..
List and describe the authentication methods businesses use to protec.pdf
List and describe the authentication methods businesses use to protect their information both
internal and externally when transmitted to outside parties?
Solution
Please let me know if you need more information:-
when we say authentication first we need to protest the resources involved in our BUSINESS:-
our business needs should be like:-
1. we must keep avoiding unauthorized persions from accessing the resources.
2. we just limit resources[data] to access the BUSINESS involved persons what they are not
needed.
[ just providing access to what they really needed ]
To gain the above :-
we can follow many methods which are available :-
1.logon authentication
here we will be providing the username and password to the user/resorce to gain access to our
business data.based on userid we can limit the data too.
2.network authentication
based on network type which resource connected we can revoke the connection to our business
network
3.remote authentication
here remote authentcation will be involed in again username along with some security features
[RSA, OTP ..etc].
4.biometric authnetication
based on the resource physical presence of finger print / ratina ..etc scans we will be
authenticating the resources involved in business
5.smart card authentication.
when we give access to our business resources/outside we should be maintainging the encryption
technology to keep our data safe.
when we mention outside we should be able to make our data not understandble till it reaches to
our destination[resources] by using encrytption .
Thanks.
Let X equal the number of flips of a fair cointhat are required to.pdf
Let X equal the number of flips of a fair coin
that are required to observe the same face on consecutive
flips.
(a) Find the pmf of X. Hint: Draw a tree diagram.
(b) Find the moment-generating function of X.
(c) Use the mgf to find the values of (i) the mean and (ii)
the variance of X.
(d) Find the values of (i) P(X 3), (ii) P(X 5), and
(iii) P(X = 3).
Solution.
Let K be a field. Prove that every not trivial (not necessarily fini.pdf
Let K be a field. Prove that every not trivial (not necessarily finite dimensional) vector space V
over f has a basis. Denote V {0} by V*. Observe that a non-empty linearly independent subset
of V is an element of P(V*) . Let L P(V*) {} be the set of non-empty linearly independent
subsets of V and partially order L by inclusion.
(a) Let C be a chain in L. Prove that U= (Union)UUC
is an upper bound for C. Hint: The problem is to prove that U L, i.e U is a linearly independent
set. Assume some collection of elements v1, v2, . . . vn U with vivj for ij is linearly dependent.
Use Problem 4 to get a contradiction.
(b) Let M be a maximal element of L prove that M spans V .
(c) Now appeal to Zorn’s lemma to prove that V has a basis.
Solution
Theorem (Zorn’s lemma). Let S be a partially ordered set. If every totally ordered subset of S has
an upper bound, then S contains a maximal element
Let us try to use Zorn’s lemma to prove that an arbitrary nonzero vector space has a basis.
________________________________
For a nonzero vector space V over a field F, a basis of V is a subset B of V that is linearly
independent (i.e., no finite subset of B has a nontrivial F-linear relation) and spans V (i.e., every
element of V is an F-linear combination of finitely many elements of B).
Every nonzero vector space contains a basis.
Proof.
The idea is that a basis can be constructed as a maximal linearly independent set, and this
maximal set will be found with Zorn’s lemma.
Let V be a nonzero vector space and let S be the set of linearly independent sets in V . For
instance, a single nonzero v V is a linearly independent set, so {v} S. Thus S is different from
zero
.For two linearly independent sets L and L1 in V , declare L L1 0 if L L1 . This is the partial
ordering on S by inclusion. It is easy to see that any subset of a linearly independent set is also a
linearly independent set, so if L S then any subset of L is also in S. Assume {L}A is a totally
ordered subset of S. That is, every L is a linearly independent set in V and for any L and L in our
subset we have L L or L L. An upper bound for the L’s in S is the union L = S A L. Well, we
need to check L is really a linearly independent set (so L S); once that is settled then L is an
upper bound in S since L L for all A.
Pick any finite set of vectors v1, . . . , vn in L. We must show they are linearly independent. Each
vk is in some L, say v1 L1 , . . . , vn Ln . Since the L’s are totally ordered, one of the sets L1 , . .
. , Ln contains the others. That means v1, . . . , vn are all in a common L, so they are linearly
independent. Zorn’s lemma now tells us that S contains a maximal element: there is a linearly
independent set B in V that is not contained in any larger linearly independent set in V . We will
show B spans V , so it is a basis. P Let W be the span of B. That means W is the set of all finite
F-linear combinations k i=1 civi with k 1, ci F, and vi B. If B does not span V then W 6= V , so
we can pic.
It is important that the CISSP candidate understand the differences .pdf
It is important that the CISSP candidate understand the differences between the various legal
systems used around the world one early system was Corpus Juris Civilis, which featured a
comprehensive system of written rules of law that serves as the basis for which legal system
today.
A. Civil law
B. Religious law
C. Common law
D. Customary law
Solution
A. Much of Europe is based on civil (code) law, also known as Napoleonic law. The Romans
used Corpus Juris Civilis, which featured a comprehensive system of written rules of law that
serves as the basis of civil law used today. Answer B, C, and D are incorrect as the major
difference between civil law and common law is that civil law uses legislation as the main source
of laws. Religious law is based on religious tenets. China and some African countries use
customary law, which may be combined with other legal systems and is based on the concept of
what is customary and considered normal conduct. It is important that the CISSP candidate
understand the differences between the various legal systems used around the world..
More from expressionnoveltiesk (20)
The major place where grantic continental crust is manufactured is.pdf
The major place where grantic continental crust is manufactured is.pdf
There seems to be some evidence supporting the idea of a political b.pdf
There seems to be some evidence supporting the idea of a political b.pdf
The CSUN IEEE chapter is to choose a president, treasurer and secret.pdf
The CSUN IEEE chapter is to choose a president, treasurer and secret.pdf
The atmosphere on earth contains nitrogen in a form that is unusable .pdf
The atmosphere on earth contains nitrogen in a form that is unusable .pdf
explain how fungi acquire their nutrients. describe the basic body p.pdf
explain how fungi acquire their nutrients. describe the basic body p.pdf
Define microbial growth. Ftsz and septum are important features of s.pdf
Define microbial growth. Ftsz and septum are important features of s.pdf
Suppose that a nation has a labor force of 100 people. In January, A.pdf
Suppose that a nation has a labor force of 100 people. In January, A.pdf
For which of the following types of interpolation is it possible, in .pdf
For which of the following types of interpolation is it possible, in .pdf
SOMEONE HELP Complete sentences, stating the differences and relati.pdf
SOMEONE HELP Complete sentences, stating the differences and relati.pdf
Recontruct the cultural differences argumentSolutionCultural d.pdf
Recontruct the cultural differences argumentSolutionCultural d.pdf
Please write a project proposal by seeing the following project repo.pdf
Please write a project proposal by seeing the following project repo.pdf
Does a countrys Institutional and legal system play a major role i.pdf
Does a countrys Institutional and legal system play a major role i.pdf
Most primate species a. live in social groups. b. live sol.pdf
Most primate species a. live in social groups. b. live sol.pdf
please do D E and F .C. Describe loads on Structures wl liui. . D..pdf
please do D E and F .C. Describe loads on Structures wl liui. . D..pdf
Male, 40 y o. comes to the office. First scheduled the appointment fo.pdf
Male, 40 y o. comes to the office. First scheduled the appointment fo.pdf
Describe and discuss the 2 pathways for antigen processing exogenou.pdf
Describe and discuss the 2 pathways for antigen processing exogenou.pdf
List and describe the authentication methods businesses use to protec.pdf
List and describe the authentication methods businesses use to protec.pdf
Let X equal the number of flips of a fair cointhat are required to.pdf
Let X equal the number of flips of a fair cointhat are required to.pdf
Let K be a field. Prove that every not trivial (not necessarily fini.pdf
Let K be a field. Prove that every not trivial (not necessarily fini.pdf
It is important that the CISSP candidate understand the differences .pdf
It is important that the CISSP candidate understand the differences .pdf
Recently uploaded
Unit 8 - Information and Communication Technology (Paper I).pdf
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Template Jadual Bertugas Kelas (Boleh Edit)
Jadual Bertugas kelas dalam bentuk softcopy PowerPoint. Cikgu boleh download >> edit >> print >> laminate. Semoga bermanfaat.
Overview on Edible Vaccine: Pros & Cons with Mechanism
This ppt include the description of the edible vaccine i.e. a new concept over the traditional vaccine administered by injection.
Sectors of the Indian Economy - Class 10 Study Notes pdf
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Supporting (UKRI) OA monographs at Salford.pptx
How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
Chapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptxMohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
This slide is prepared for master's students (MIFB & MIBS) UUM. May it be useful to all.Polish students' mobility in the Czech Republic
Polish students mobility to the Czech Republic within eTwinning project "Medieval adventures with Marco Polo"
How to Make a Field invisible in Odoo 17
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Instructions for Submissions thorugh G- Classroom.pptx
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
How to Split Bills in the Odoo 17 POS Module
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The approach at University of Liverpool.pptx
How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
Ethnobotany and Ethnopharmacology ......
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
How to Break the cycle of negative Thoughts
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How libraries can support authors with open access requirements for UKRI fund...
How libraries can support authors with open access requirements for UKRI funded books
Wednesday 22 May 2024, 14:00-15:00.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
MARUTI SUZUKI- A Successful Joint Venture in India.pptx
Let us know about Maruti Suzuki, a successful Joint venture in India.
Synthetic Fiber Construction in lab .pptx
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Model Attribute Check Company Auto Property
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Event Link:-
https://meetups.mulesoft.com/events/details/mulesoft-mysore-presents-exploring-gemini-ai-and-integration-with-mulesoft/
Agenda
● Java 17 Upgrade Overview
● Why and by when do customers need to upgrade to Java 17?
● Is there any immediate impact to upgrading to Mule Runtime 4.6 and beyond?
● Which MuleSoft products are in scope?
For Upcoming Meetups Join Mysore Meetup Group - https://meetups.mulesoft.com/mysore/
YouTube:- youtube.com/@mulesoftmysore
Mysore WhatsApp group:- https://chat.whatsapp.com/EhqtHtCC75vCAX7gaO842N
Speaker:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Priya Shaw - https://www.linkedin.com/in/priya-shaw
Organizers:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Giridhar Meka - https://www.linkedin.com/in/giridharmeka
Priya Shaw - https://www.linkedin.com/in/priya-shaw
Shyam Raj Prasad-
https://www.linkedin.com/in/shyam-raj-prasad/
Recently uploaded (20)
Unit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdf
Overview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with Mechanism
Sectors of the Indian Economy - Class 10 Study Notes pdf
Sectors of the Indian Economy - Class 10 Study Notes pdf
Chapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptx
Instructions for Submissions thorugh G- Classroom.pptx
Instructions for Submissions thorugh G- Classroom.pptx
How libraries can support authors with open access requirements for UKRI fund...
How libraries can support authors with open access requirements for UKRI fund...
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
MARUTI SUZUKI- A Successful Joint Venture in India.pptx
MARUTI SUZUKI- A Successful Joint Venture in India.pptx
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Question 12 20 pts Explain five criteria of Statement No. 52 in deter.pdf
- 1. Question 12 20 pts Explain five criteria of Statement No. 52 in determining the foreign currency as the functional currency. HTML Editor Paragraph ? Solution Answer) Application of this Statement will affect financial reporting of most companies operating in foreign countries. The differing operating and economic characteristics of varied types of foreign operations will be distinguished in accounting for them. Adjustments for currency exchange rate changes are excluded from net income for those fluctuations that do not impact cash flows and are included for those that do. The requirements reflect these general conclusions: The economic effects of an exchange rate change on an operation that is relatively self-contained and integrated within a foreign country relate to the net investment in that operation. Translation adjustments that arise from consolidating that foreign operation do not impact cash flows and are not included in net income. The economic effects of an exchange rate change on a foreign operation that is an extension of the parent's domestic operations relate to individual assets and liabilities and impact the parent's cash flows directly. Accordingly, the exchange gains and losses in such an operation are included in net income. Contracts, transactions, or balances that are, in fact, effective hedges of foreign exchange risk will be accounted for as hedges without regard to their form. More specifically, this Statement replaces FASB Statement No. 8, Accounting for the Translation of Foreign Currency Transactions and Foreign Currency Financial Statements, and revises the existing accounting and reporting requirements for translation of foreign currency transactions and foreign currency financial statements. It presents standards for foreign currency translation that are designed to (1) provide information that is generally compatible with the expected economic effects of a rate change on an enterprise's cash flows and equity and (2) reflect in consolidated statements the financial results and relationships as measured in the primary currency in which each entity conducts its business (referred to as its "functional currency"). An entity's functional currency is the currency of the primary economic environment in which that entity operates. The functional currency can be the dollar or a foreign currency depending on the facts. Normally, it will be the currency of the economic environment in which cash is generated and expended by the entity. An entity can be any form of operation, including a subsidiary, division, branch, or joint venture. The Statement provides guidance for this key
- 2. determination in which management's judgment is essential in assessing the facts. A currency in a highly inflationary environment (3-year inflation rate of approximately 100 percent or more) is not considered stable enough to serve as a functional currency and the more stable currency of the reporting parent is to be used instead. The functional currency translation approach adopted in this Statement encompasses: Translation adjustments are an inherent result of the process of translating a foreign entity's financial statements from the functional currency to U.S. dollars. Translation adjustments are not included in determining net income for the period but are disclosed and accumulated in a separate component of consolidated equity until sale or until complete or substantially complete liquidation of the net investment in the foreign entity takes place. Transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency (for example, a U.S. company may borrow Swiss francs or a French subsidiary may have a receivable denominated in kroner from a Danish customer). Gains and losses on those foreign currency transactions are generally included in determining net income for the period in which exchange rates change unless the transaction hedges a foreign currency commitment or a net investment in a foreign entity. Intercompany transactions of a long-term investment nature are considered part of a parent's net investment and hence do not give rise to gains or losses.