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lidiya [134]
1 year ago
9

To be useful for decision making, information should possess the fundamental qualities of relevance and.

Business
1 answer:
Nitella [24]1 year ago
7 0

To be useful for decision making, information should possess the fundamental qualities of relevance and  <u>Faithful representation</u>.

<h3>What is  faithful representation?</h3>

Faithful representation can be defined as the financial accounting concept that stated a company financial position which they present should be correct with what the company has as their financial statement.

It is paramount that a company a financial statement is accurate  to what they present in the financial statement  and  should not be compromise.

Therefore To be useful for decision making, information should possess the fundamental qualities of relevance and  <u>Faithful representation</u>.

Learn more about  Faithful representation here:brainly.com/question/14506917

#SPJ1

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Larkspur, Inc. reports net income of $91,800 in 2022. However, ending inventory was understated $7,800. What is the correct net
dezoksy [38]

Answer:

$99,600

Explanation:

If the ending inventory was understated that means that they have less of the inventory than they had originally expected, this means that they sold more than they have calculated and therefore have not included the $7,800 in the net income. Therefore, we would need to add this amount to the actual reported net income to get the correct net income for 2022...

$91,800 + $7,800 = $99,600

The correct net income for 2022 is $99,600

3 0
3 years ago
A differentiator will always benefit when products have become commoditized. True or False
Savatey [412]

Answer:

false

Explanation:

a differentiator will always benefit when products have become commoditized

8 0
3 years ago
Companies can depreciate equipment in which of the following ways?
finlep [7]

Answer: asset cost, salvage value, useful life, and obsolescence.

Explanation: Any method may be adopted by companies

7 0
3 years ago
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Six months after starting a quilting business with a partner, Penny finds that actual revenues are significantly lower than proj
pychu [463]

Answer:

escalation of commitment

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Penny invest into the business additional funds ignoring the expected outcome of the business (the future returns are not expected to increase)

Penny is not doing the proper analysis of the past six month

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Penny avoids to acknowle the true fact of the business.

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3 years ago
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Answer:

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Explanation:

3 0
3 years ago
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