Answers
a prescribed form cannot depart from generally accepted accounting principles or fail to include all required disclosures.
Accounting standards are executed to work on the quality of financial information detailed by companies.
In the United States, the Financial Accounting Standards Board (FASB) issues generally accepted accounting principles (GAAP).
GAAP is required for all publicly traded companies in the U.S.; it is also routinely executed by non-publicly traded companies as well.
Internationally, the International Accounting Standards Board (IASB) issues International Financial Announcing Standards (IFRS).
The FASB and the IASB sometimes cooperate to issue joint standards on hotly debated issue issues, but there is no expectation for the U.S. to switch to IFRS in the foreseeable future.
The ultimate goal of standardized accounting principles is to allow financial statement users to see a company's financials with certainty that the information disclosed in the report is finished, consistent, and comparable.
to know more about GAAP click here:
https://brainly.com/question/28345482
#SPJ4
Related Questions
Which set of documents do you need to correct a mistake on a filed tax return
Answers
Answer:
Form 1040x
Explanation:
Managing debt begins with
Answers
B. Matching Type. Match Column B with Column A
Answers
Answer:
B. Matching Type. Match Column B with Column A
1. Safety equipment ⇒ C. Must be worn.
2. Danger signs ⇒ D. Inflammable
3. Safety information ⇒ E. Warning Do not touch.
4. Caution signs ⇒ B. No Smoking
5. Serious injuries ⇒ A. First Aid
Bill wants to attend a college with a current tuition of $10,000 a year. He will graduate from high school in five years. Roughly how much will Bill need to save for one-year's tuition to account for an
annual rate of inflation of 3%?
$638.30
O $667.50
O $656.50
O $633.30
Answers
Bill need to save $11,592 for one-year's tuition to account for an annual rate of inflation of 3%.
The option is not listed above.
To compute for future Value the formula is given below;FV = Present value(PV) × (1 + rate of interest)^time period
pv= $10,000
rate of interest= 3% = 3/100 = 0.03
time = 5years
FV= $10000× (1+0.03) ^5
FV= 10000× 1.1592
FV= $11,592.7
Therefore, Bill need to save $11,592 for one-year's tuition to account for an
annual rate of inflation of 3%.
Learn more on future value below
https://brainly.com/question/24703884
#SPJ1
Financial aid letters show your aid and costs of attendance for _____.
Answers
Financial aid letters show your aid and costs of attendance for an academic year.
What is a financial aid letter?This is a letter that a tertiary institution gives to a student to show the cost of their attendance at the college they are currently enrolled in.
The period covered in the letter is the academic year which means that the costs associated with two semesters of attending the university will be shown to the student.
These costs will include things like tuition fees, room and board fees, transportation and other miscellaneous costs.
The letter will also include all the financial aids that the student may receive including federal grants, college grants, state grants, and federal loan options that a person may be eligible for.
In conclusion, financial aid letters show the costs of attendance in an academic year and the aid that comes with it.
Find out more on college financial aid at https://brainly.com/question/26499492
#SPJ1
You are an economics professor teaching large sections of Principles courses this semester. Within the first week of class,
several students have approached you with concerns about exam and homework due dates. They fear they won't do well
because the due dates for your class conflict with the dates for their other classes. You want to allocate exam and homework
due dates to the days most valued by students, but sifting through the opinions of hundreds of students presents a challenge.
The MOST efficient allocation would result if you:
design a predictions market for students to designate when they think the dates will be.
b. create an internal market for students to bid for their preferred dates.
C.
use your centralized power as a professor to assign the dates without student input.
d. determine that you have a knowledge problem when assigning dates
Answers
The MOST efficient allocation of exam and homework due dates for students who have concerns due to conflicting schedules with other classes is to create an internal market for students to bid for their preferred dates.The correct answer is option-b.
A market is the most efficient mechanism for allocating goods and services according to the preferences of consumers. Students who have conflicting schedules can bid for their preferred exam and homework due dates through an internal market.
This method has the advantage of providing the exam and homework due dates to those who are willing to pay the most for them. By using the internal market, the professor can allocate the dates in the most efficient manner without sifting through the opinions of hundreds of students.
This method is also fair as it gives students the opportunity to choose their preferred dates based on their schedule constraints, and it reflects the value that students place on certain exam and homework due dates.
Therefore, the correct answer is option-b.
For more question on market
https://brainly.com/question/30665904
#SPJ8
Cultural differences that might influence the guest service experience include all of the following except
diet
greetings
humor
marriage
Answers
Answer: marriage
Explanation: You are correct! Diet, greetings, humor, and marriage are all cultural differences that can influence the guest service experience. However, marriage is not a cultural difference and therefore would not be included in this list.
What amenities are included in a Coli Spaces co-living apartment?
Answers
Coli Spaces co-living apartments include amenities such as fully furnished rooms, shared living areas, high-speed internet, cleaning services, on-site laundry, utilities, security measures, and community events.
Coli Spaces co-living apartments offer a range of amenities to ensure a comfortable and convenient living experience. Some of the amenities included in a Coli Spaces co-living apartment are:
1. Fully Furnished Rooms: Each apartment is equipped with high-quality furniture, including beds, desks, chairs, and storage units, providing a ready-to-move-in experience.
2. Shared Living Areas: Residents have access to spacious and well-designed common areas such as living rooms, dining areas, and kitchen facilities. These spaces are thoughtfully furnished and encourage social interaction among residents.
3. High-Speed Internet: Coli Spaces provides fast and reliable internet connectivity, allowing residents to stay connected and work or study from home without any disruptions.
4. Cleaning Services: Regular cleaning services are provided to ensure that the common areas and shared facilities are well-maintained and hygienic.
5. On-site Laundry: Co-living apartments at Coli Spaces are equipped with laundry facilities, making it convenient for residents to do their laundry without leaving the building.
6. Utilities: Basic utilities such as electricity, water, and gas are included in the rent, simplifying the payment process for residents.
7. Security: Coli Spaces prioritizes the safety of its residents, and therefore, co-living apartments are equipped with security measures such as CCTV cameras, secure access systems, and on-site staff.
8. Community Events: Coli Spaces organizes community events and activities to foster a sense of belonging among residents, providing opportunities to socialize and network.
By providing these amenities, Coli Spaces aims to create a comfortable and inclusive co-living environment that meets the needs of modern urban dwellers.
For more such questions on community, click on:
https://brainly.com/question/24553900
#SPJ8
When the time comes for a group of people eating together at a restaurant to pay their bill, sometimes they might agree to split the costs equally and other times will pay individually. If this decision were made in advance, would it affect what they order
Answers
Explanation:
When the time comes for a group of people eating together at a restaurant to pay their bill, sometimes they might agree to split the costs equally and other times will pay individually. If this decision were made in advance, would it affect what they order
Harvey quit his job at State University, where he earned $62,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $4,000 a year. To start the business, he cashed in $50,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 10,000 units of software at $72 for each unit. Of the $72 per unit, $60 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The accounting profit of Harvey's firm in the first year was: _________
Answers
Answer:
Accounting profit = 120,000
Explanation:
Accounting profit = total revenue - explicit costs
Accounting profit = 72*10,000 - 60*10,000
= 720,000 - 600,000 = 120,000
Which organization would you work best in, an organically or mechanistically structured one, and why?
Answers
Answer:
i dont know
Explanation:
During December, Far West Services makes a $2,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.5%.
Required:
Record sales and sales tax payable.
Answers
Answer:
Total sales tax payable:170, sales :2000
Explanation:
Sale price x sales tax rate = sales tax payable
2000 x .085 (6%+2.5%) = 170
it doesn’t say so I’m assuming that the 2,000 credit sale does NOT include the sales tax due.
John, Jack, and James are neighbors and each of themhas children. They are keen to have a playground in thevacant land adjacent to their house. The playground withsimple facilities, such as a swing and a see-saw, requires$6,000 to build. The playground is worth $5,000 to John.$2,500 to Jack, and $1,500 to James.
a. Is it efficient to build the playground?
Answers
To determine whether it is efficient to build the playground, we need to compare the total value of the playground to the total cost of building it.
The total value of the playground is the sum of the values it holds for each neighbor:
Value for John: $5,000
Value for Jack: $2,500
Value for James: $1,500
Total value of the playground = $5,000 + $2,500 + $1,500 = $9,000
The cost of building the playground is given as $6,000.
Since the total value of the playground ($9,000) is greater than the cost of building it ($6,000), it is considered efficient to build the playground. The value it provides to the neighbors exceeds the cost required to construct it.
what is primary socialization
Answers
Answer:
Primary socialization occurs early in a child's life and is primarily due to the influence of family and close friends. Through primary socialization, a child learns basic societal norms and customs. Toilet training is an example of primary socialization.
Explanation:
Mr. D is the manager of a local walgreens. His biggest concern is to make sure that his store is always making the most profit possible. He cuts costs by focusing on certain logistical decisions. Every other day walgreens receives shipments from pepsi, evian, hershey, and numerous other manufacturers. Walgreens insists on small shipments every two days, which helps to keep their inventory costs low. What system is mr. D using at walgreens to reduce his costs?.
Answers
The system is mr. D using at walgreens to reduce his costs is just in time inventory.
What is just in time inventory?JIT, or just-in-time inventory management, involves only ordering products from vendors when they are actually needed. This approach's primary goals are to lower the cost of keeping inventory and boost inventory turnover.With a just-in-time (JIT) inventory system, a business receives products as close as feasible to the moment they are actually required. As a result, if an auto assembly facility wants to install airbags, it doesn't maintain a supply on hand; instead, it gets them as the cars are put together.In conclusion. When used properly, JIT inventory can be a terrific method to reduce costs and boost productivity.
To learn more about just in time inventory refer to:
https://brainly.com/question/8842151
#SPJ4
Good X and Good Y are the only two goods in your economy. A typical
consumer buys 3 units of Good X and 1 unit of Good Y. What is the
(approximate) value of the Consumer Price Index this year?
Answers
The approximate value of the Consumer Price Index in this year would be 125, since we are comparing the current prices of the two goods to the base year. 3 units of Good X and 1 unit of Good Y in the current year would cost 125 times the amount they cost in the base year.
What is Consumer Price Index?Generally, The Consumer Price Index (CPI) is a measure of the average change in prices over time in a basket of goods and services typically purchased by consumers.
It is used to measure inflation and is commonly used to adjust wages and other economic indicators for inflation. CPI is calculated by comparing the cost of a basket of goods and services in a given period to the cost of the same basket in the base period.
Read more about Consumer Price Index
https://brainly.com/question/4513076
#SPJ1
Do you think being charitable can be taught?
Answers
Answer:
Yes, I feel like anyone can be taught what charitable means and what it is. Its all about helping..and anyone could learn that without being taught
Explanation:
A student is setting up an experiment. The student has twenty identical young plants and will try to answer this question: How does the amount of water given to these plants each day affect how tall the plant will grow? Identify one condition, other than identical young plants, that should be held constant during the experiment.
Answers
QUESTION 3: 3.1 Assume that the South African government have requested you to do a CBA with regard to the two projects. Conduct a research about the two pictures below and answer the questions that follow: PROJECT 1: COSTS AND BENEFIT ANALYSIS PROJECT 2 3.1.1 Identify the TWO projects needed by the South African citizens. 3.1.2 List any TWO private costs that will be incurred in project 2. (2 x 1) (2) (2 x 1) (2) 3.1.3 Why should the government apply the cost benefit analysis for big projects? (8) 3.1.4 Examine the external benefits of Project 1 illustrated above? [20] A Pr
Answers
For the two projects, the South African government has asked for a cost and benefit analysis (CBA), although no precise details or drawings of the projects have been provided.
However, it is clarified that carrying out CBA is important for large scale initiatives as it helps in determining their economic viability and social impact. Decision makers can choose wisely on the basis of net benefit derived from the initiative by weighing the costs and benefits.
The term "external benefit" refers to good outcomes on society as a whole, including social welfare, job growth, environmental sustainability, and infrastructure improvements. But without more details or visuals it's impossible to give specific feedback or evaluate the external benefits of Project 1. It is advised to refer to the actual images and related data to conduct a complete examination.
Learn more about cost and benefit analysis (CBA), here:
https://brainly.com/question/27779955
#SPJ1
In Year 1, the investor acquired 10% ownership of investee and applied fair value method to account for the investment. In Year 2, the investor acquired another 30% ownership and applied equity method to account for the investment (40% ownership). In Year 3, the investor sold 35% ownership of the investee and started using fair value method again to account for the investment (5% ownership). Should the investor apply retrospective adjustment in Year 2 and Year 3
Answers
Answer:
b
Explanation:
A predetermined amount of cash used by a cash register clerk to make change for customers normally consists of a range of bills and coins is known as: a) None of the available choices b) cash float c) cash register b) cash equivalent
Answers
A predetermined amount of cash used by a cash register clerk to make change for customers normally consists of a range of bills and coins is known as cash equivalent.
Cash equivalents include Treasury bills issued by the United States government, bank certificates of deposit, bankers' acceptances, corporate commercial paper, and customers money market instruments. All of these financial instruments are frequently short in maturity, have a highly liquid market, and are low risk. Cash and cash equivalents are defined as cash and bank balances, as well as current investments with maturities of less than three months from the date of acquisition.
To learn more about cash, click here.
https://brainly.com/question/15709517
#SPJ1
We would expect the interest rate on Bond A to be lower than the interest rate on Bond B if the two bonds have identical characteristics except that:___________
a. Bond A was issued by a financially weak corporation and Bond B was issued by a financially strong corporation.
b. Bond A was issued by the Exxon Mobil Corporation and Bond B was issued by the state of New York.
c. Bond A has a term of 1 year and Bond B has a term of 5 years.
d. All of the above are correct.
Answers
Answer:
The option (d) is correct
Explanation:
Solution
From the given question, option (d) is correct because Bond A has a lower term of maturity, issued by a financially weak corporation and compared to government security it is offering lower returns implies it has a lower interest rate than bond B having identical characteristics expect the above.
Your reading material illustrates a typical example of what happens if you pay just the minimum monthly payment every month on a credit card balance, In this example, approximately how long will it take to pay off the original dept completely?
Answers
Answer: Most credit cards only require you to make a minimum payment each month, which is typically a fixed amount, often $20 to $25, or a percentage of your balance, usually 1 to 3 percent. Paying the minimum is tempting, especially if your budget is tight. But the less you pay now, the more you’ll pay later.
Carrying a credit card balance not only means you’ll be in debt longer, but it also means you can rack up massive amounts of interest, thanks to exorbitant, oftentimes double-digit interest rates.
Explanation:
To give you an idea of just how costly it can be to pay only the minimum on your credit card, personal finance site NerdWallet crunched the numbers and determined the interest costs of paying off debt. It assumed credit card debt of $6,081, which is what the average household with revolving credit card debt owes, and an interest rate of 14.99 percent.
A project manager forgets to assess how national holidays and team member vacations will affect the project’s completion date. Now, because of team member time off, the project delivery will be two weeks late. What flexible planning strategy could the project manager have used to avoid the delay?
Answers
The flexible strategy is used to avoid the delay in assessing the external constraints.
The following information regarding accessing external constraints:
It could be thrust upon an organization.It permits for uncovering the things that are beyond the control.The example involved national holidays or sick leaves.If we accessing the external constraints so the delay could be avoided.
So, The other options seem incorrect
Therefore we can conclude that the flexible strategy is used to avoid the delay in assessing the external constraints.
Learn more about the external constraints here: brainly.com/question/17156848
To reduce delays in considering external restrictions, a flexible technique is employed. The following details about external limitations are available:
It has the potential to be imposed on a company.It enables us to see what we can't see.National holidays and sick leave were used as examples.The delay may be minimized if we used external limitations.It concludes that the flexible technique is employed in order to prevent a delay in considering external limitations.Therefore, "Assessing external constraints" is correct.
Learn more:
brainly.com/question/5317558
A firm produces truffles by using labor and capital. The price of labor is $10 per unit, and the price of capital is $20 per unit. At current output level, the marginal product of labor is 40 truffles and the marginal product of capital is 60 truffles. To reduce the total cost of producing the current quantity of truffles, how should the firm change its spending on labor and capital
Answers
Answer: See explanation
Explanation:
With the information given in the question, the firm should change its spending on labor and capital by increasing its labor and at thesame time, also reducing capital.
This is because since the marginal product of labor is 40 truffles and the price of labor is $10 per unit, it means that 4 truffles/dollar is being spent on labor, while for capital, 3 truffles/dollar is being spent.
Which sections should you survey while reading difficult material? a. Diagrams c. Main ideas b. Visual Aids d. All of these Please select the best answer from the choices provided A B C D Mark this and return
Answers
Answer:
D
Explanation:
They all help
Your uncle is sole pro-
prietor of a camera shop. You know much more about digital cameras than he does. He is looking for a
partner. What questions would you ask him before you would consider going into business with him?
Answers
Answer:
Does he know managerial and literacy work such as account book keeping, purchase and sale record keeping etc.
Explanation:
Because I will do the sale and purchase of the camera and other technical work myself.
What is a common way to purchase an automobile?
Answers
Answer: with cash.. or you can set a loan
Explanation:
"The fund is earning a low, but safe, 3% per year. The withdrawals will take place annually starting today. How soon will the fund be exhausted if Debbie withdraws $40,000 each year?"
Answers
Answer:
The question is missing the amount that Debbie's fund has, so I looked for similar questions and the number I found was $368,882.
we can use the present value of an annuity due formula to determine how long it will take Debbie to empty her account.
present value of annuity due = (payment / i) x {1 - [1 / (1 + i)ⁿ]} x (1 + i)
368,882 = (40,000 / 0.03) x {1 - [1 / (1 + 0.03)ⁿ]} x (1 + 0.03)
368,882 = 1,333,333.33 x 1.03 x {1 - [1 / (1 + 0.03)ⁿ]}
368,882 = 1,373,333.33 x {1 - [1 / (1 + 0.03)ⁿ]}
1 - [1 / (1.03)ⁿ] = 368,882 / 1,373,333.33 = 0.268603398
1 - 0.268603398 = [1 / (1.03)ⁿ]
0.731396601 = 1 / (1.03)ⁿ
1.03ⁿ = 1 / 0.731396601 = 1.367247261
n = log 1.367247261 / log 1.03 = 0.135847062 / 0.012837224 = 10.58 years
Debbie will exhaust the fund in 10.58 years. That means that Debbie will be able to withdraw $40,000 for 10 years, and then the last withdrawal will be lower.
Explanation:
explain the changing nature of public administration
Answers
The nature of public administration has undergone significant changes over the years. Traditional public administration was characterized by hierarchical structures.
However, with the increasing complexity of modern society, new challenges have emerged that require a more flexible and responsive approach to public administration.
One of the key changes in public administration has been the shift towards more participatory and collaborative approaches. This has been driven by a growing recognition of the importance of engaging citizens and stakeholders in decision-making processes, and the need to build trust and legitimacy in government institutions.
Another important change has been the adoption of technology in public administration. From e-government initiatives to data-driven decision-making, technology has transformed the way that government organizations operate and interact with citizens.
At the same time, there has been a growing emphasis on performance management and accountability in public administration. This has involved the development of performance metrics, the use of benchmarking and evaluation, and a focus on outcomes rather than inputs.
Overall, the changing nature of public administration reflects the broader shifts in society towards greater complexity, interdependence, and accountability. While there are still many challenges to be addressed, the evolution of public administration offers hope for more effective and responsive governance in the years to come.
For more such questions on administration visit;
https://brainly.com/question/1276995
#SPJ11