Solve For $x$ And $y$ A) $x = - 2$ $y = - 1$

question 101

Multiple Choice

Solve $\left[ \begin{array} { l l } 1 & 2 \\3 & 4\end{array} \right] \left[ \begin{array} { l } x \\y\end{array} \right] = \left[ \begin{array} { l } 1 \\2\end{array} \right]$ for $x$ and $y$

• A) \(x = - 2\), \(y = - 1\)
• B) \(x = - \frac { 3 } { 2 }\), \(y = - 2\)
• C) \(x = 0\), \(y = \frac { 1 } { 2 }\)
• D) \(x = \frac {3} { 2 }\), \(y = - \frac { 3 } { 2 }\)
• E) none

Calculate and record gains or losses on the sale of equity investments.

Understand the impact of dividends and net income from an investee on the investor's financial statements.

Recognize when and how to record entries for investments revalued to fair value.

Understand and apply the principles of accounting for investments and related income in compliance with IFRS standards.

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Definitions:

Cost Reconciliation Report

A summary that explains the differences or changes between the planned or standard costs and the actual incurred costs.

Work In Process Inventory

Work in process inventory includes items that are in the production process but not yet completed or ready for sale.

Transferred Out

In manufacturing and accounting, refers to goods or materials that have been moved from one process or department to another in the production process.

Weighted-Average Method

A cost-flow assumption used in inventory valuation and costing, calculating the cost of goods sold and ending inventory based on a weighted average of costs.