Answer: Materiality
Explanation: In simple words, materiality refers to the accounting concept which states that only those transaction should be recorded in the financial statements which are important to the stakeholders.
In other words, the transactions should be recorded in such a way that it gives some value to the stakeholders.
Therefore, in the given case, steve reported two expenditures in the fiancial statement as the amount is significant, thus,must be holding the value to stakeholders.
Hence the correct option is D.
Answer:
a. $343.7 billion
b. $331.9 billion
c. $334.1 billion
Explanation:
The computation is shown below:
a. For GDP
GDP = Personal consumption expenditures + Government purchases + Net private domestic investment + Consumption of fixed capital + net exports
where,
Net exports = U.S. exports of goods and services - U.S. imports of goods and services
= $17.8 - $16.5
= $1.3 billion
So, the GDP would be
= $219.1 + $59.4 + $52.1 + $11.8 + $1.3
= $343.7 billion
b. For NDP
NDP = GDP - Consumption of fixed capital or depreciation
= $343.7 - $11.8
= $331.9 billion
c. For NI
NI = GDP + Net foreign income
= $331.9 billion + 2.2 billion
= $334.1 billion
All values are in billions
Answer & Explanation:
In terms of completion of goals, the key difference between strategic aim and SWOT is the time-frame.
In this case, the strategic goal is future-oriented and long-term (around 10-20 years). The strategic goal is simply to make sure that the whole enterprise, in order to meet potential business demand, works on forecasting consumer demand in the future, reinforcing and enhancing its core competences.
On the other side, in implementing the corporate goals and achieving success, SWOT has a short-term outlook. In this context, SWOT focuses on current data and knowledge, such as specific expertise, current business demand and satisfying this need.
Answer:
B. A partnership may use federal income tax rules to account for transactions in their journals and ledger accounts.
Explanation:
There is a lot of difference in accounting of normal partnership firms and that of non profit organisations.
Simply a partnership firm cannot be formed as a non profit entity.
A partnership can use any federal laws in compliance and do accounting entries in accordance with them.
The partnership equity section only contains partner's capital account as there are no retained earnings section.
Partnership's do not pay dividend, and if it does it is not limited to money.
Answer:
When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.
Two reasons why market research should be accurate:
Business Risks: Regular market research will be your way to check in with your current customers and potential customers to ensure that you’re still meeting their needs. If it is accurate business risks are reduced but if inaccurate, it could lead to the crash of your business.
Decision-making: The need for and importance of marketing research frequently comes up when making tough business decisions. Instead of having arbitrary criteria for the decisions you make as a business owner, you can always go back to your market research report. Based on that report, will this decision lead to more customers? Will you be able to reach more people who are likely to buy from you? Will it be clear to them that your business can meet their needs? With an accurate market research, the business can make properly informed decisions but with inaccurate market research, the business will be making unwise decisions
