Assuming a 360 - day year, proceeds of $43, 722 were received from discounting a $44,958, 90-day note at a bank. The discount rate used by the bank in computing the proceeds was 2. 12.24% b. 11.00% □ c. 9% d. 12.75%

c.Why the IPSASB developed the IPSASs? d.What are the scopes of the IPSASs?

Use the following accounts; Cash Foreign exchange gain Foreign exchange loss Capital Bank Short-term investments Loss on sale of short-term investment Gain on sale of short-term investment RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was 1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: • Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.

Define Ethics.