Even though that particular business have the motive of increasing profit there would be a lot of benefits that the society will get such as...
Since most of the business are working for profit in the market this create competition among each other this results to a lower price in markets therfore the society can afford to buy things.
A bad side of such business could be the monopoly power, if there is no company that produces similar good or service they tend to abuse the consumers by increasing the price of the goods and services they provide as there are no other firms that provide similar goods or services.
The amount reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is $7,600.
<h3>Cash flow from operating activities sections:</h3>
Based on the information given the amount that will be reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is the gain amount of $7,600.
This gain is the gain from selling office equipment and this amount must be deducted from net income in the operating activities section of the statement of cash flows.
The reason why we have to deduct the $7,600 is because under accrual basis of accounting the amount represent a noncash addition to net income.
Inconclusion the amount reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows using the indirect method is $7,600.
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Answer:
Understanding a country's culture is a sign of respect. It also helps to foster effective communication, a vital factor in business success. ... Values and attributes such as frugality, trust and endurance may be viewed differently in other countries.
Answer:
C. Compliance reports relying on XBRL are more advanced than electronic PDFs.
Explanation:
Compliance reporting is a document compiled by often by the chief compliance officer that shows how a company is complying with the set rules, standards or regulations, examples of compliance report may be financial, technical, operational, and cybersecurity reports.
Compliance report relying on XBRL are more advanced than electronic PDFs because it gives easy access to communicate between businesses, it is also reliable and reusable means of information sharing.
The Statements-In a j<u>ob-costing syste</u>m, individual jobs use different quantities of production resources, In a <u>process-costing system</u> each unit uses approximately the same amount of resources.-Both the statement are True
(D) Both (a) and (b) are true.
Explanation:
A <u>job costing system</u> is a system in which the cost associated with a particular job is calculated.This information is important in order to submit the cost information to the customer under a contract
<u>For example:</u>Job costing is required for deriving the cost of construction of a building,for designing a software
<u>Process costing is a term that is used in cost accounting.</u>
It is used to calculate the manufacturing cost of a Product.
<u>A processing cost system </u>is used during the mass production of the identical units .
