Disclosures Can Be Made Either on the Face of the Financial

question 126

True/False

Disclosures can be made either on the face of the financial statements in the form of classifications or parenthetical notations,or they can be made in the notes to the statements.

Understand the concept of commensalism and its ecological significance.

Recognize different types of species interactions, such as exploitative and interference competition.

Explain factors contributing to species richness and island biogeography.

Identify examples and significance of warning coloration and mimicry in animals.

---

Definitions:

Cash-Equivalent Price

The cash-equivalent price is the price of a service or asset if paid for in cash at the same time, as opposed to being financed.

Fair Value

An estimate of the market value of an asset or liability, based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.

Consideration

In legal and accounting terms, it refers to the value, either monetary or a promise of action, that is exchanged between parties in a contract.

Residual Value

the estimated value that an asset will have at the end of its useful life.