ABC Inc Is a Public Entity Which Applies the Fair Value

question 167

Multiple Choice

ABC Inc. is a public entity which applies the Fair Value Model to all of its Investment property. On January 1, Year 1, the company purchased Land held for resale for $120,000. This land was independently appraised at $100,000 on December 31^st, Year 1. The year-end adjusting journal entry would include:

• A) a loss of $20,000.
• B) a debit to Revaluation surplus - OCI- Land.
• C) a credit to depreciation expense of $20,000.
• D) a debit to contributed surplus of $20,000.

Understand the essentials of critical analysis.

Recognize the importance of pre-testing in research design.

Understand the concept of random sampling and its significance in research.

Identify the characteristics of effective survey questions.

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Definitions:

Influential Company Contacts

Key individuals within a company who have significant influence over decisions and organizational directions.

Conflict Resolution

The methods and processes involved in facilitating the peaceful ending of conflict and retribution, often through negotiation, mediation, or dialogue among parties.

Collaborative Problem Solving

this method involves two or more individuals working together in a cooperative manner to solve a problem or achieve a goal.

Group Potency

The collective belief of a team in its own capability to succeed in a given task or project.