Multiple Choice Question 65 Brian and Sandy are forming a partnership. Brian will invest a truck with a book value of $10800 and a fair value of $14500. Sandy will invest land and a building with a book value of $29600 and a fair value of $41600 with a mortgage of $15100. At what amount should the building be recorded?

Perez, inc., applies the equity method for its 25 percent investment in senior, inc. during 2018, perez sold goods with a 40 percent gross profit to senior, which sold all of these goods in 2018. how should perez report the effect of the intra-entity sale on its 2018 income statement?

Mark knopf is an auditor who has been asked to provide an audit and financial statement certification for a company that is going public on the new york stock exchange. knopf wants to know his personal liability if the company provides him with inaccurate or false information. which of the following sources of law will him answer that question? a. the city ordinances where the company headquarters is located. b. the state constitution of the state where the company is incorporated. c. code of federal regulations. d. all of the above

Afinance company wants to upgrade its accounting software to a higher version. this version change requires a change in data formats. which method represents a change in data formats?