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2 years ago

In the preparation of a pro forma income statement, an entrepreneur must first _____.

Business

1 answer:

Marat540 [252]2 years ago

4 0

In the preparation of a pro forma income statement, an entrepreneur must first develop a sales budget.

<h3>What is sales budget?</h3>

A sales budget is what gives summary of quantity of goods and services which a company intends to sell in the future. It is however used in the production budget.

Hence, in the preparation of a pro forma income statement, an entrepreneur must first develop a sales budget.

Learn more about sales budget here: brainly.com/question/15310075

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Under IFRS, when a lessee recognizes a balance sheet asset and liability for a new lease: the asset and liability are equal. the

irina [24]

Answer:

the asset and liability are equal.

Explanation:

IFRS 16 lease and IAS 17 deals in important changes where the lease transactions are reported in the lessee financial statement

In this the assets and liabilities that are occured from the lease should be initially determined on the present value basis

Also the assets and liability are equivalent to each other

Therefore the first option is correct

5 0

3 years ago

Madison Corporation's production cycle starts in the Processing Department. The following information is available for April: Un

Nastasia [14]

Answer:

Equivalent units = 270,000

Explanation:

<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.</em>

Completed Units= total units in process during April - Closing WIP

= 280,000 - 25,000 = 255,000

Note that the description 'total units in process in during April', implies that the opening inventory is inclusive in the figure of 280,000.

Equivalent units = degree of completion(%) × units

Item Equivalent units

Completed units 255,000 255,000× 100% = 255,000

Closing work in progress 25,000 25,000× 60% = <u>15,000</u>

Total equivalent units <u>270,000 </u>

Equivalent units = 270,000

6 0

3 years ago

f a business wants to sell a product or service on the Internet for the first time, the __________ would need to understand the

tiny-mole [99]

Answer:

Explanation:

The operational risk committee has the responsibility of maintaining and overseeing the operational risk of an organisation. They are to identify possible operational risks of all the activities of a company and take steps to mitigate and manage such risks

The functions of The operational risk committee includes :

Identify possible risks
Evaluate the risks
Develop and implement strategies needed to manage the risk
Evaluate the risk and strategize implemented regularly

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3 years ago

Amin is working on a new design project and has created three mock-ups.

kompoz [17]

Answer:

presentation

Explanation:

Based on the information provided within the question it can be said that Amin would show the mock-ups to the client during the presentation stage. This is the stage in which a speech or talk is done in front of the client's as well as showing them the new product, idea, or work. Therefore the three mock-ups that Amin created would be shown the the client's during this stage.

5 0

3 years ago

Technique Co. has equipment with a carrying amount of $1,600,000. The expected future net cash flows from the equipment are $1,6

Delvig [45]

Answer:

a. No impairment should be reported

Explanation:

In the given situation, we compare the expected future net cash flows and the higher value of book value and fair value.

The comparison is shown below

Since the expected future net cash flows from the equipment i.e $1,630,000 is more than the book value of equipment $1,600,000. The value comes in negative

So, no impairment loss would be recognized

3 0

3 years ago