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2 years 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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Selected transactions for Thyme Advertising Company, Inc. are listed here. Describe the effect of each transaction on assets, li

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Answer:

Explanation:

1. Issued common stock to investors in exchange for cash received from inventors - Increase in assets (cash) and an increase in equity (Capital)

2. Paid monthly rent - The decrease in equity and decrease in assets (cash)

3. Received cash from customers when service was rendered - Increase in assets (cash) and an increase in equity

4. Billed customers for services performed - Increase in assets (Accounts Receivable) and an increase in equity

5. Paid dividend to stockholders - The decrease in equity and decrease in assets (cash)

6.Incurred advertising expense on account - Decrease in equity and an increase in liability (Accounts Payable)

7.Received cash from customers billed in - Increase in the asset (cash) and decrease in the asset (Accounts Receivable)

8.Purchased additional equipment for cash - Increase in the asset (Equipment) and decrease in an asset (cash)

9.Purchased equipment on account - Increase in the asset (equipment) and an increase in liabilities (Accounts payable)

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4 years ago

Upon customer request, a dealer in a competitive municipal syndicate must disclose:__________.

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Answer:

B. order priority provisions

Explanation:

When investors want to purchase municipal bonds in the primary markets, it is important for the issuer to prioritise orders from investors in a bond offering.

The underwriter must follow the issuer's priority of orders in allocating purchase orders for municipal bonds.

So in a competitive municipal syndicate when a customer asks for order priority provisions, it must be provided by the dealer.

This shows transparency of the process to the investor as he now knows when each order will be filled.

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3 years ago

Nita is a devoted Coca-Cola consumer, whereas Becky can drink either Coca-Cola or Pepsi products. Nita’s demand for Coca-Cola wi

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Answer:

The answer is:

Inelastic

Elastic

Explanation:

Nita’s demand for Coca-Cola will be relatively more inelastic i.e his demand will not be sensitive to price. Increasing the price of Coca-cola will not make Nita to change its taste because he is a devoted Coca-Cola consumer.

Becky’s demand will be relatively more elastic because he has an option to choose between Pepsi and Coca-cola.

Any increase in price of Coca-cola will make Becky to shift to Pepsi.

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3 years ago

A _____ strategy is a way of obtaining customers by making decisions that allow an organization to produce goods or services mor

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The answer to this question is what we called the low cost strategy. The low cost strategy is a type of pricing strategy where in the company offers a very low price for its products and services in order to produce more goods and service. The price for this strategy is more cheaper than the competitors.

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3 years ago

Because of an accident Royce was involved in, his insurance company has increased his annual premium for auto insurance by 5.2%.

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Answer:

D) $571.24

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