Part I: Write “true” if the statement is correct or “false” if it is incorrect on the answer sheet. (5 points) 1. When the future revenue producing ability of the inventory is above its original cost the companies should reports their inventory value with LCNV method.
2. Enhancing qualitative characteristics are complementary to the fundamental qualitative characteristics.
3. Building held for sale is reported under the property, plant and equipment section of the Statement of Financial position.
4. A long-lived tangible asset is impaired when a company is not able to recover the asset’s carrying amount either through using it or by selling it.
5. Companies record short term notes at face value less allowance, ignoring the interest implicit in the maturity value.

Problem 3: access control pokeygram, a cutting-edge new email start-up, is setting up building access for its employees. there are two types of employees: managers and engineers, and there are three departments: security, networking, and human resoures. each employee works in a single department, and each department is housed on a different floor. managers are allowed access to any floor, while engineers are allowed access only to their own floor. there are three badge-operated elevators, each going up to only one distinct floor. every employee has one badge. pokeygram wants to use the best possible access control method in order to minimize delay for the elevators (a) access control matrix, 1. which of the following would you recommend that pokeygram use: (b) access control lists, or (c) capabilities? make sure to justify your answer. 2. what, if any, would be the benefits (and/or disadvantages) of using rbac (role-based access control) in this situation? keep your solution for this problem limited to 10-12 lines of text.