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1 year ago

The body of rules and procedures that guide the measurement and communication of financial accounting information is known as?

1 answer:

3 0

Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Given that there is a body of rules and procedures that guide the measurement and communication of financial accounting information.

We are required to give the name of the body that guide the measurement and communication of financial accounting information.

The body that guide the measurement and communication of financial accounting information is Generally Accepted Accounting Principles.

Generally accepted accounting principles (GAAP) basically refer to a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board . Public companies in the U.S. have to follow GAAP when their accountants compile their financial statements.

Hence Generally Accepted Accounting Principles is the body of rules and procedures that guide the measurement and communication of financial accounting information.

Learn more GAAP at brainly.com/question/17895474

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Selecting a career in an industry that is rapidly declining might mean facing _____ employment opportunities.

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The correct answer should be fewer employment opportunities. If it's declining then that means that it doesn't need new people to develop it which means there's fewer opportunities.

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2 years ago

A landlord entered into a 10-year lease of a building with an auctioneer, who planned to use the building itself for a storage a

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Answer:

$2,000

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The new owner immediately became the new landlord and he/she assumed all the responsibilities stated in the lease contract. Since the lease contract stated that the "lessor (landlord) agreed to maintain all structures on the property in good repair", the new landlord must pay for any necessary repairs.

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3 years ago

In an hour, Henry can wash 20 windows or clean 2 bath tubs. In an hour, Rose can wash 30 windows or clean one bath tub. If their

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If their father Dave allows them to trade chores to achieve gains from trade then "Henry will clean bath tubs; Rose will wash the windows".

Option: C

Explanation:

In this scenario Henry is washing 20 windows or 2 bath tabs in an hour, which showcase his average washing of 10 windows over 1 bath tab in half hour. While here Rose is washing 30 windows or 1 bath tab in an hour by giving average of 15 windows over half bath tab in half hour, which is less than Henry's average of washing.

Thus on considering the above average of work performed by Henry and Rose in equal amount of given time for work, Henry is more prominent to be specialized in cleaning bath tubs while Rose will more expert in washing windows because she is cleaning more windows than Henry in same on hour of time.

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3 years ago

A compound document contains _______ from different applications.

kakasveta [241]

A compound document contains linked data from different applications.

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3 years ago

Read 2 more answers

Cost of Goods Manufactured, using Variable Costing and Absorption Costing On March 31, the end of the first month of operations,

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Answer:

(a)unit cost of goods manufactured is $108.00

(b)unit cost of goods manufactured is $122.00

Explanation:

Varibale Product Costing = Direct Material + Direct Labor + Variable Overheads

Absorption Product Costing = Direct Material + Direct Labor + Variable Overheads + Fixed Overheads

(a) the unit cost of goods manufactured- the variable costing concept

Variable cost of goods manufactured ($1,620,000/15,000 units) = $108.00

unit cost of goods manufactured = $108.00

(b) the unit cost of goods manufactured - the absorption costing concept

Variable cost of goods manufactured ($1,620,000/15,000 units) = $108.00

Fixed manufacturing costs ($210,000/ 15,000 units) = $14.00

unit cost of goods manufactured = $122.00

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3 years ago