Answer:
The correct options are "A, C, and D".
Explanation:
- GAAP becomes regarded as a relatively 'rules-based' management framework, seems to be the accounting technique used throughout the United States
- IFRS becomes quite 'principles-based', although this would be the accounting framework used in more than 110 countries throughout the globe.
- These allow the same approach being used for international and domestic section reporting, which generate reconciliation issues.
<u>Answer:</u> Option 2
<u>Explanation:</u>
Pioneer of breakthrough products are advanced products in the market. These products help in fulfilling the consumer needs in the market when compared to the current available products. When the breakthrough products meet consumer needs which makes their work and life easier then the consumer preferences change to these pioneer products.
The consumer preferences bring a change in the consumer products market. When modern and latest resources are available in the market with advantages such as ease of use the consumers prefer pioneer products.
Answer:
The answer is B.
Explanation:
FIFO inventory cost method will yield the highest taxable income during times of inflation or period of rising price.
FIFO is First in First out i.e the inventory that was purchase first will go out first. This method reflects the current market price because last inventories bought during inflation are part of the ending inventories. Ending inventories are high, cost of sales are low and gross profit is high.
Because gross profit is high, high tax will be charged
Answer:
The correct answer is letter "E": The government implemented a generous welfare plan 3 years ago to support people who cannot find work.
Explanation:
According to the excerpt, a government implemented fiscal policies to increase employment for the past two years but the rate has not risen since then. One of the reasons for such a situation could be <em>generous welfare support</em> implemented one year before the fiscal policy measures started.
<em>If the benefits for the unemployed increase they will be discouraged to return to the labor force</em>. It implies the government should keep the welfare benefits at a level from where unemployed individuals can cover basic needs only but encourage them to find a job to be productive for the economy.
It is important trait to have as an entrepreneur, because you have to have different perceptive's of the type of people you are selling to. As in you just can't have one persons point of view.
