Search & Filtering
A higher price for torches would result in a(n)
A. decrease in the demand for torches
B . decrease in the demand for batteries
C . increase in the demand for torches
D . increase in the demand for batteries
According to the law of demand
A. an increase in the price will result in an outward shift of the demand curve .
B . the relationship between price and quantity demanded is always presented as a straight line
C . people will demand a great quantity when the price is low and a smaller quantity if the price is high .
D . an increase in consumers income will increase the quantity demanded at each price level
Which one the following statements is correct?
A . According to the law of demand , the demand curve is always a straight line .
B . The market demand curve is calculated by averaging the demand curves of individual consumers
C . The quantity demanded is inversely related to price
D .An increase in price leads to a decrease in demand
Rebecca loses her job and , as a result , she buys fewer iTunes music downloads . This shows that Rebecca considers iTunes music download to be a(n)
A complementary good
B normal good
C supplementary good
D inferior good
Suppose you make gold jewellery . If the price of gold falls , we would expect you to
A . Face a greater demand for your jewellery
B be willing and able to produce more jellewery than before at each possible price
C face a weaker demand for your jewellery
D be willing and able top produce less jewellery than before at each possible price
In the market for fish , there are four suppliers . If the price is R50 per fish , Johns Fisheries will supply 120 fishes . If the price is R50 ,Snoek Kings will not produce any fish , but it will produce 230 fishes if the price is R60 per fish . The Boat will produce 356 fishes for a price of R50 and Sardine Runners will produce 54 fishes if the price is R50 per fish . What is the market supply of fish at a price of R50 per fish
A. 760
B . 356
C . 120
D . 530
If there are three suppliers of furniture , namely Table Co , Home Inc and the Le House , and they produce 57 furniture pieces , 30 furniture pieces and 120 furniture pieces respectively , what is the market supply of furniture ?
A. 57
B 207
C 30
D 120
Which one of the statement below represents the law of demand ?
A .When the price of a good decreases , buyers purchase more of the good .
B. When the buyers demand for a good increase, the price of the good increases
C.When income levels increase , buyers purchase more of most good
D. When buyers taste for a good increase , they purchase more of the good
Suppose the demand for peanuts increases . What will happen to producer surplus in the market for peanuts?
A . increase
B . remain the same
C. increase,decrease or remain unchanged
D. decrease
Using hypothetical but realistic organizations, present different scenarios that may lead to a deviation from the proper use of the following accounting standards:
1. IAS 16 Property, plant and equipment
2. IAS 40 Investment Property
3. IAS 36 Impairment
4. IAS 37 Provisions, contingent assets and contingent liabilities
5. IAS 2 Inventories
6. IAS 38 Intangible assets
7. IFRS 15 Revenue
8. IFRS 16 Leases
The entity that you create must have a name and actual transactions (with figures). Student groups are encouraged to be as creative and innovative as possible. The accounting standard in each case must first be explained in the groups own words, not as provided in the notes or plagiarised from literature, before a deviation may be discussed.
The example of deviation from the proper use of the standard must include recognition, measurement and de-recognition of the element in a particular case.
