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1 year ago

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

1 answer:

7 0

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

<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 Faithful representation.

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

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Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,470 May 3,830 June 4,570 July

Ne4ueva [31]

Answer:

1. Production units for April 3,650 units

Production units for May 4,200 units

Production units for June 4,370 units

2. Budgeted cost of materials for April = $ 21,980

Budgeted cost of materials for April = $ 23,996

Explanation:

Computation of budgeted production units

April May June

Units Units Units

Ending Inventory - 50 % of next month 1,915 2,285 2,085

Add: Sales 3,470 3,830 4,570

Less: Opening Inventory-50% of current month ( 1,735) (1,915) (2,285)

Production units for the month 3,650 4,200 4,370

Computation of cost of materials

Units production 3,650 4,200 4,370

Material requirement per unit - 2 pounds

Total material requirement for production 7,300 8,400 8,740

Closing inventory-50% next month production 4,200 4,370

Opening inventory-50% of current production ( 3,650) (4,200)

Total material requirement for production 7,850 8,570

Cost per pound of direct material $ 2.80

Total direct material Budget $ 21,980 $ 23,996

4 0

2 years ago

Applying the concept of opportunity cost to the pollution of a lake, an economist probably would conclude that: a. no pollution

mrs_skeptik [129]

Answer:

d. pollution should be eliminated as long as the benefit from a cleanup exceeds the opportunity cost.

Explanation:

Opportunity cost is defined as the forgone cost of doing a particular activity. If you were not undertaking this activity what would you have gained by doing something else?

In this case as long as the benefit from cleaning up the pollution is greater than the opportunity cost (pollution) it should be undertaken.

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2 years ago

Under what conditions does servant leadership fail to have a positive impact on followers?

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Answer:

D. When subordinates don’t want guidance from the leader

Explanation:

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3 years ago

Carmichael Company is considering purchasing a piece of equipment for $60,000. It expects the equipment will last 12 years (and

nalin [4]

Answer:

Initial outlay = $60,000

Annual net income before tax = $7,200 per annum

Depreciation = Cost - Residual value

Estimated useful life

= $60,000 - 0

12 years

= $5,000 per annum

Annual net cashflow before tax

= Annual net income before tax + Depreciation

= $7,200 + $5,000

= $12,200

Explanation:

In this case, the annual net income before tax has been given. The annual net income before tax has excluded depreciation, which does not involve movement of cash. Therefore, we need to add back depreciation in order to obtain the expected before tax cashflow.

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3 years ago

Self-interest helps achieve society's economic goals because as consumers and producers exercise their ____ to act in their own

aleksklad [387]

Answer:

Self-interest helps achieve society's economic goals because as consumers and producers exercise their freedom to act in their own self-interest markets will produce the desired goods at the lowest possible cost.

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3 years ago