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NEW QUESTION: 1
Tasks A and B have a duration of two days. Task A starts on Day 1, and Task B starts on Day 3. Tasks C and D have a duration of three days, and Task E has a duration of four days. Task C starts after Task A. Task D and E start after Task C. If Task A starts on December 15, which of the following is the anticipated start date for Task D?
A. December 21
B. December 20
C. December 19
D. December 22
E. December 18
NEW QUESTION: 2
An entity issued a noninterest bearing note payable due in 1 year in exchange for land.
The fair value of the land is not reliably determinable. Which of the following statements is true concerning the accounting for the transaction?
A. The land should be recorded at the future value of the note, and interest should be imputed at the prevailing rate on similar notes.
B. Interest on the note should be imputed at the prime rate, and the land should be recorded at the discounted value of the note.
C. No interest should be recognized on the note, and the land should be recorded at the present value of the note
D. Interest on the note should be imputed at the prevailing rate for similar notes, and the land should be recorded at the present value of the note.
When a financial liability is initially recognized, the entity should measure it at its cost a is the fair value of the consideration received. The fair value ordinarily is determined by reference to the transaction price or other market prices. If these prices are not reliably determinable, the fair value is estimated by discounting the future cash payments at an imputed rate equal to the prevailing market rate for a similar instrument similar as to currency term, and type of rate) of an issuer with a similar credit rating.
NEW QUESTION: 3