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lilavasa [31]
1 year ago
5

expensing the cost of copy paper when the paper is acquired is an example materiality. industry practices. conservatism. expense

recognition.
Business
1 answer:
sergejj [24]1 year ago
4 0

Expensing the cost of copy paper when the paper is acquired is an example of .Cost constraint.

<h3>What is Cost constraint?</h3>

A cost constraint in accounting occurs when it is excessively expensive to report specific information in the financial statements. The applicable accounting standards permit a reporting entity to forego the associated reporting where doing so would be prohibitively expensive. The purpose of enabling the cost constraint is to prevent firms from paying excessive expenditures to fulfill their financial reporting duties, especially when compared to the benefit received by readers of the financial statements.

Only certain requirements for financial reporting that are mentioned in the accounting standards are subject to the cost limitation. In all other instances, regardless of the underlying cost, financial information must be reported.

To learn more about Cost constraint from the given link:

brainly.com/question/21270823

#SPJ4

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Kisachek [45]

Answer:

You open up too easily

Explanation:

Keep your guard up and stop trusting everyone on brainly

5 0
3 years ago
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Assume US GAAP to answer this question.In 2017, $2 million in wages were earned and no cash wages were paid.In 2018, $8 million
solniwko [45]

Answer:

The right answer is A. Liabilities increased by $1.0 million in 2018

Explanation:

During 2017 and 2018, we have the following information:

+ In 2017, there is $2 million wages earned but not yet paid, so, Wages payable at the end of 2017 should be amounted to $2 million.

+ In 2018, there is another $8 million wages earned. At the same period, there is $7 million wages paid which is distributed as followed: $2 million to clear all Wages payable in 2017 and the other $5 million to clear $5 million out of $8 million wages payable in 2018. So, the only wages liability outstanding at the end of 2018 is the amount of $3 million earned in 2018 but not yet paid ($8 million - $5 million).

=> Liabilities in 2018 increases $1.0 million in comparison with the year 2017 ( $3 million - $2 million).

3 0
3 years ago
Lucky started a new business last year. Since it was the first year of operation, the business purchased $10,000 in machinery an
gulaghasi [49]

Answer:

True

Explanation:

The reason is that the Internation Financial Reporting Framework says that though there are choices the company must opt to the depreciation method that brings fairness to the financial statement, which means that the method used calculates the depreciation for the year that actually represents the decrease in the value of the assets in market value. So if the current method brings the fairness to the Financial statements, Lucky can use them and if those don't bring fairness to the financial statements then its better to use alternative which will bring the fairness to financial statements.

4 0
3 years ago
Marigold corp. has 634000 shares of $10 par value common stock outstanding. during the year marigold declared a 13% stock divide
Vera_Pavlovna [14]

No. of shares outstanding before stock dividend = 634000

Price per share = $46

Stock dividend issued (shares issued) = 634000 x 13%

= 82,420

Value of stocks issued as stock dividend = 82420 x $46 = $3,791,320

No. of shares outstanding after stock dividend = 634,000 +82,420

=716420

Cash dividend = 716420 x 0.60

= 429,852

Total reduction in retained earnings = total value of dividend issued

= $3,791,320 + $429,852

= $4,221,172

3 0
3 years ago
Disney employed ________ marketing strategy for its Disneyland Paris, particularly when it came to the eateries in the park. The
jek_recluse [69]

Answer:

Multidomestic

Explanation:

Multidomestic marketing strategy is one where a company modifies it's products to meet the local needs of the country in which it is located. For example introducing a particular flavor of a drink that is well accepted in a country.

Companies that practice multidomestic strategy tend to have many differentiated products to serve different countries.

In this instance Disney featured recipes that were revised for local tastes, alcoholic beverages (not permitted in previous parks), and increased outdoor seating.

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3 years ago
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