DEF Inc Entered into a Non-Cancellable Commitment to Purchase Raw Materials

question 151

Multiple Choice

DEF Inc. entered into a non-cancellable commitment to purchase raw materials in the amount of $30,000 on December 31^st, 2010. Replacement cost was estimated at $25,000 on November 30^th, 2010 and this amount was not expected to change. Which of the following statements is correct?

• A) This is an onerous contract. A loss must be accrued in the amount of $5,000.
• B) This is not an onerous contract. A loss must be accrued in the amount of $5,000.
• C) This is an onerous contract. However, the $5,000 loss should only be disclosed in the financial statements and not accrued.
• D) This is not an onerous contract.

Comprehend the importance of clear, concise, and complete documentation in medical records.

Identify symptoms and signs of depression and understand its impact on individuals.

Understand the effects of specific drugs on behavior and physical health.

Apply communication strategies to enhance patient interviews and improve data collection.

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Definitions:

Observational Study

A study where the researcher observes and records behavior without manipulating variables or assigning interventions.

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Sacramento Zoo

An accredited zoo located in Sacramento, California, known for its conservation efforts, diverse animal exhibits, and educational programs.

Gender

The range of characteristics pertaining to, and differentiating between, masculinity and femininity.