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Alika [10]
1 year ago
14

Explain what the time period assumption means.

Business
1 answer:
Vsevolod [243]1 year ago
7 0

Time period assumption means that a corporation bases its financial reporting on the periods it chooses. It is an accounting method that allows businesses to present their earnings and balance sheets more positively than if they used one of the other methods.

The assumption time period principle is an accounting theory that states that a company's financial statements should be appropriate for a specified time period. the time period covered by the financial statement An income statement or a statement of cash flows. The balance sheet, on the other hand, is dated as of a certain date rather than a range of dates.

To learn more about assumption, click here.

brainly.com/question/14511295

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How do businesses use the competency "Engaging Communication" to solve problems?
Whitepunk [10]
If you engage in conversation or to communicate this will help solve problems because your communicating if that makes sense
8 0
3 years ago
The receipt of dividends and interest from abroad as a result of ownership of foreign assets by a country's residents is recorde
Shalnov [3]

Answer:

income-generating assets under the current account of the balance of payment.

Explanation:

In international trade to balance of payments between countries looks at inflow and outflow of funds as a result of trade.

When there is balance of trade deficit the country imports from others. When there is balance of payment surplus the country exports to others.

The fund movement is recorded in various accounts. These are current account, capital account, and financial account.

The current account is used to record funds recieved from goods, services, income, and current transfers.

The receipt of dividends and interest from abroad as a result of ownership of foreign assets by a country's residents is recorded as

income-generating assets under the current account of the balance of payment.

6 0
3 years ago
Wall -to- wall records' April 1 inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost
algol13

Answer:

<u>The correct answer is that the cost of the ending inventory using the retail inventory method is US$ 100,962</u>

Explanation:

Wall-to-Wall Records

                                        Cost          Retail

Beginning Inventory $ 48,000 $ 70,000

Purchases                     $ 210,000       $ 390,000

Cost of Goods Available for Sale $ 258,000 $ 460,000

Cost to Retail Ratio

= $ 258,000 ÷ $ 460,000

= 0.5609 = 56.09%

                                                    Cost            Retail

Cost of Goods Available for Sale $ 258,000   $ 460,000

− Sales                                                                 $ 280,000

Ending Inventory                                          $ 180,000

× Cost to Retail Ratio                                    0.5609

<u>Ending Inventory                           $ 100,962 </u>

5 0
3 years ago
Bonds are basically also known as what?
Karo-lina-s [1.5K]

bonds are basically known as

b)contracts

8 0
3 years ago
Akers Company sold bonds on July 1, 20X1, with a face value of $100,000. These bonds are due in 10 years. The stated annual inte
Taya2010 [7]

Answer:

$76,620.83

Explanation:

According to the scenario, computation of the given data are as follows

Future Value (FV) = $100,000

Rate of interest = 10% yearly

Rate of interest (Rate) = 10%÷ 2 = 5% semiannually

Number of period (Nper) = 9 × 2 = 18

Face value = $100,000

Payment (pmt) = $100,000 × (6%÷2) = $3,000

By putting the value in excel present value formula, we get,

PV = $76,620.83

Attachment is attached below

6 0
3 years ago
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