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Paha777 [63]
1 year ago
9

A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or

years is the?
Business
1 answer:
Vlada [557]1 year ago
3 0

A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the <u>Time period principle.</u>

The time period principle- Financial results and other material business activities should be reported over a consistent time period, such as a month, week, day, etc., in accordance with the time period concept. Depending on the frequency of the chosen time period, the firm must then adhere to a distinct set of regulations for each financial statement in accordance with US Generally Accepted Accounting Principles.

Any company's financial statements can be thought of as a snapshot in time that reveals both the company's history and its current status. That's why it's crucial to disclose to readers the time frame in which the financial statements were generated in accordance with the time period concept.

In its broadest sense, the time period principle holds that any enterprise may conveniently categorize its financial operations into discrete time intervals. That is to say, all cash inflows and outflows may be neatly categorised into separate and sequential accounting periods.

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To know more about Time period principle refer here:

brainly.com/question/13035515

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If an employer does not offer a retirement plan, what might be another way to save for retirement?
Luda [366]
If an employer does not offer a retirement plan, the best option that an employee can do is to invest in an insurance company that can offer such service. There are insurance companies that not only guarantee a person's investment on health, travel, and recreation, there are also those that give opportunities for people who are seeking to retire from their work. 
4 0
3 years ago
Alex left his position as a manager for Macy's after two years. He complained of being burned out from having to fulfill too man
devlian [24]

<em>Answer:</em>

<em>d. delegation.     </em>

<em>Explanation:</em>

<em>Delegation: </em><em>In management, delegation is described as any of the assignment related to an authority figure that is being given to another individual, for example, a task or assignment given by a manager to his or her subordinate to lead a few specific activities. Delegation is determined as one of the different concepts related to "management leadership". Therefore, an individual who is being delegated a specific work tends to remains "accountable" for the output of the "delegated work".</em>

<em>As per the question, Alex probably never learned to use the tool of delegation.</em>

4 0
2 years ago
Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $7
professor190 [17]

Answer:

$33,540,000

Explanation:

initial investment:

  • opportunity cost of land (resale price of land) = $10,700,000
  • building cost of the facilities = $21,900,000
  • other expenses related to the site (grading) = $940,000
  • total $33,540,000

The purchase cost of the land is considered a sunk costs, since it is not relevant now. What is relevant is the price at which the land could be sold at the moment of starting the project.

7 0
3 years ago
Of the 16 businesses located at the Tri-City Shopping Center, one-quarter are service businesses. How many
andreyandreev [35.5K]

Answer:there are 4

Explanation:if you take the 16 businesses and multiply it by a quarter which is .25 and you will get 4

8 0
2 years ago
American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed const
galben [10]

Answer and Explanation:

1. The Journal entry is shown below:-

Equipment Dr,  $4 million

         To Notes payable $4 million

(Being purchase of machine is recorded)

2. The preparation of amortization schedule for the four-year term of the installment note is shown below:-

Present value annuity factor for 10% for 4 years = 3.16987    

Note amount = $4,000,000    

Annuity value = $1,261,881

($4,000,000 ÷ 3.16987)

                    A              B = (A × 10%)      C            D = (C - B)       E = (A - D)

Dec 31   Opening value Effective  Installment Reduction in Ending value

                  of Note           Interest     Paid          value of note       of note

2021     $4,000,000     $400,000  $1,261,881   $861,881         $3,138,119

2022     $3,138,119        $313,812    $1,261,881   $948,069       $2,190,050

2023     $2,190,050      $219,005   $1,261,881   $1,042,876     $1,147,174

2024     $1,147,174         $114,707     $1,261,881    $1,147,174        $0

3. The Journal entry to record the first installment is shown below:-

Interest expense Dr, $400,000

Long term note payable Dr, $861,881

       To Cash $1,261,881

(Being the first installment paid is recorded)

4. The Journal entry to record the third installment is shown below:-

Interest expense Dr, $219,005    

Long term note payable Dr, $1,042,876    

        To Cash $1,261,881  

(Being third installment paid is recorded)

6 0
3 years ago
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