1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
attashe74 [19]
1 year ago
7

Not adjusting the amounts reported in the financial statements for inflation is an example of which basic principle of accountin

g?
Business
1 answer:
Kaylis [27]1 year ago
8 0

Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.

What is Monetary unit?

The monetary unit principle stipulates that only transactions that may be stated in terms of a currency should be documented. In other words, non-quantifiable items shouldn't be recorded in the financial statements of a company. Money has become a common measurement unit in accounting over time.

Therefore,

Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.

To learn more about monetary unit from the given link;
brainly.com/question/13415456

#SPJ4

You might be interested in
Mark, a senior editor at Logi Corp, is in charge of editing the articles written by Bruno, a newly hired employee. He notices ma
Mademuasel [1]

Answer:

A) He should include specific, verifiable facts.

Explanation:

Mark is a senior editor and is editing work written by Bruno.

He will want to provide an objective feedback to Bruno on his work that will not discourage him from doing his best. But also effectively state all the errors in the work that needs correction.

The best way to do this will be by including specific verifiable facts.

This will give a neutral response and maintain a good work environment.

8 0
3 years ago
An argument for trade tariffs is that it protects infant industries.
3241004551 [841]

Answer:

The infant industry argument is an economic rationale for trade protectionism. The core of the argument is that nascent industries often do not have the economies of scale that their older competitors from other countries may have, and thus need to be protected until they can attain similar economies of scale.

4 0
2 years ago
The eu became an economic union when the ____ went into effect in 1993.
PilotLPTM [1.2K]
Answer: <span>Maastricht Treaty</span>
7 0
3 years ago
If any of you are having problems we can talk go ahead let everything out i'll help you!
Harlamova29_29 [7]

Answer:

thank you !

Explanation:

i might need to use thins soon haha

thanks,

~mina

8 0
2 years ago
Q 4.35: McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekl
hjlf

Answer: Understatement, $30,900

Explanation:

There will be an UNDERSTATEMENT of McGinnis' net income for the most recent fiscal year of $30,900.

The Understatement arises because as of year end which is June 30th, McGinnis were not paid for their services that cost $40,900 and instead will only be paid on the 8th of the next month so it was not accounted for in the net income.

The reason the net income understatement is $30,900 and not $40,900 is because McGinnis will still have to account for the payment to it's employees. If in a five day week they earn $12,500, that would mean that they earn $2,500 a day (12,500/5). Seeing as June ended on a Thursday, that is a 4 day week which means $2,500*4= $10,000.

That $10,000 will reduce the net income by that amount.

The net effect is a $30,900 UNDERSTATEMENT.

4 0
3 years ago
Other questions:
  • Proceeds of debt issued for the construction or acquisition of capital assets are recognized by the capital projects fund as "ot
    13·1 answer
  • What happens when there are only a few large customers in the market?
    7·1 answer
  • The Supplies account for Vulcan Cleaning Services had a debit balance of $200 at the beginning of the month. Additional supplies
    15·1 answer
  • At the end of last year, Cynthia, a 20% partner in the five-person CYG partnership, has an outside basis of $23,000 including he
    14·1 answer
  • A customer has opened a margin account and has signed both the hypothecation agreement and the loan consent agreement. The broke
    8·1 answer
  • PLEASE HELP!!! Compare U.S. government savings bonds to mutual funds and collectibles in terms of risk and potential return. Exp
    15·1 answer
  • Tidewater, Inc., requires its job applicants to take a test that measures their vocabulary and numerical skills. For specific jo
    5·1 answer
  • something people buy to protect themselves from losing a lot of money in the event something happens to them or their property i
    5·1 answer
  • Select the correct answer.
    9·1 answer
  • When a pharmaceutical company places an ad in a home and garden magazine for its new arthritis drug, it is using a ________ stra
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!