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2 years ago

Using the trueblood criterion what is the ultimate goal of accounting?

1 answer:

8 0

The ultimate goal of accounting according to trueblood criterion is to predict future cash flows to the investor or creditor

<h3>What is a trueblood criterion?</h3>

In accounting, its means the reporting on the past & present firm information that could help us predict future cash flow to firm.

Hence, by virtue of trueblood criterion, the ultimate goal of accounting is to predict future cash flows to the investor or creditor.

Therefore, the Option C is correct

Missing options "A) Predict future cash flows to the firm

B) Predict income to the investor or creditor

C) Predict future cash flows to the investor or creditor

D) Predict income to the firm"

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Accounting information systems:

Dafna1 [17]

Answer:

The correct answer is letter "D": are an information system that records, processes, and reports on transactions to provide financial and non-financial information for decision making and control.

Explanation:

An Accounting Information System or AIS is a way to track all of a company's accounting activities. An AIS provides easy access to the same information to different departments. An AIS collects, stores, retrieves and processes the data. The data can come from internal and external sources allowing managers to make decisions about the business operations.

3 0

3 years ago

Gator Corporation manufactures several types of accessories. For the year, the gloves and mittens line had sales of $480,000, va

Ksenya-84 [330]

Answer:

The company will lose $85,000 if the product line is discontinued

Explanation:

Giving the following information:

Sales= 480,000

variable expenses= (360,000)

Contribution margin= 120,000

fixed expenses= (140,000)

Net operating income= (20,000)

If Gator eliminates the line, $35,000 of fixed costs will remain.

We need to determine the effect on income if the product line is discontinued.

Effect on income= fixed costs - net operating income

Effect on income= -105,000 - (-20,000)

Effect on income= -85,000

The company will lose $85,000 if the product line is discontinued

8 0

3 years ago

A business entity operated and taxed like a partnership, but with limited liability for the owners, is called a:

Masteriza [31]

Answer: A. limited liability company.

Explanation:

A Limited Liability Company (LLC) is a type of company that is operated and taxed like a partnership for instance, profits that flow to the partners are taxed on the partner's income but not on the firm to prevent double taxation. This is called Flow-Through Taxation.

They operate with limited Liability for the owners because the owners are only personally liable for the debts and liabilities the company has up until the capital they invested. Anything past this and they cannot be held liable.

8 0

3 years ago

Zhang Industries budgets production of 220 units in June and 230 units in July. Each unit requires 1.5 hours of direct labor. Th

Vaselesa [24]

Answer:

Budgeted direct labor cost for July = $4,278

Explanation:

Given:

Production in July = 230 units

Hours of direct labor = 1.5 hours per unit

Direct Labor rate = $12.40 per hour

Indirect labor rate = $19.40 per hour.

Find:

Budgeted direct labor cost for July

Computation:

Budgeted direct labor cost for July = (Production in July)( Hours of direct labor)( Direct Labor rate)

Budgeted direct labor cost for July = (230)(1.5)(12.4)

Budgeted direct labor cost for July = $4,278

8 0

3 years ago

Jan is attending college and studying to be an investment broker. To improve her chances of employment following college, she h

Alexeev081 [22]

Answer:

C is the correct option

Explanation:

Human capital can be defined as an asset that is not listed on the company's balance sheet. It is the economic value of an employee's work experience and skills. It includes education, training, intelligence, skill, health, loyalty and punctuality.

According to the concept of human capital, all labor is not equal and the quality of employers can be improved by investing in their training, education, and abilities. Human capital is important because it is considered to increase the productivity and profitability and the economic values of the employers.

3 0

3 years ago