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sweet [91]
1 year ago
7

A useful way of standardizing financial statements is to choose a _______ year and then express each item relative to that amoun

t.
Business
1 answer:
liberstina [14]1 year ago
6 0

A useful way of standardizing financial statements is to choose a base year and then express each item relative to that amount.

Below, this is further discussed.

<h3>Financial statements: What are they?</h3>

Financial statements, in general, are official records of the financial activity and condition of a company, an individual, or another organization. Structured and simple-to-comprehend presentations of pertinent financial data are made.

In summary, Selecting a base year and then expressing each item according to that sum is a helpful method for standardizing financial reporting.

Explore more about Financial statements

brainly.com/question/14951563

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g On July 1, Alton Co. issued an $60,500, 10%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends
irakobra [83]

Answer:

The interest expense is $521  

Explanation:

The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:

interest expense=days in the month/360days*interest rate*loan amount

interest expense=31/360*10%*$60,500=$ 521  

The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521  

8 0
3 years ago
Company Z is a U.S. company that is the first in this country to produce a good that is already produced in many foreign countri
lina2011 [118]

Answer:

Infant industry.

Explanation:

In this scenario, Company Z is a U.S. company that is the first in this country to produce a good that is already produced in many foreign countries and sold in the United States. Most likely, the argument it will voice in its attempt to be protected from foreign competition is the infant industry argument.

An infant industry can be defined as an industry that is still in its early stages of development and as such are not capable of competing with foreign companies.

<em>Hence, according to the infant industry theory the argument would be that infant industries should be offered some kind of protection from competitors in other industries either foreign or local until they mature and develop a good and reputable economies of scale. </em>

6 0
3 years ago
Case Study: Capitalization versus Expensing
Solnce55 [7]

Answer:

Please see attachment

Explanation:

Please see attachment

7 0
3 years ago
Assuming that the federal reserve banks sell $40 million in government securities to commercial banks and the reserve ratio is 2
sdas [7]

The reserve requirement when the federal reserve banks sell $40 million in government securities to commercial banks is $8 million.

<h3>How to calculate the reserve requirement?</h3>

From the information given, the the federal reserve banks sell $40 million in government securities to commercial banks and the reserve ratio is 20 percent.

Therefore, the reserve requirement will be:

= 20% × $40 million

= $8 million.

Learn more about reserve requirements on:

brainly.com/question/25812353

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8 0
1 year ago
A cosmetics company is conducting a second-year review of one of its newest products. The marketing department expects that the
-BARSIC- [3]

Answer:

sensitivity analysis

Explanation:

According to my research on different business strategies, I can say that based on the information provided within the question the senior management is undertaking sensitivity analysis. This is a study of what kind of relationship exists between the inputs and outputs of a system and how much uncertainty exists between them. This is what the senior management is undertaking when determining different factors which might lead to different profit projections.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
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