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1 year ago

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

1 answer:

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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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Hofstede isolated four dimensions that he claimed characterized the cultures of different countries. Briefly describe each of hi

Airida [17]

Answer:

His four dimension are power distance, individualism vs collectivism, uncertainty avoidance, and masculinity vs femininity.

Explanation:

The theory of the cultural dimensions given by the Hofstede expresses the cross-culture communication that takes place within the organization and they are associated with the values on the society. As cultures differs managerial practices also change.

The power distance is the first dimension which states that the members arrange themselves in a hierarchy and those who are less powerful are in a society of acceptance and Uncertainty avoidance is the dimension that describes the extent to which the society is at ease with the risks.

Individualism and collectivism state that society that is more individual and tends to be self-oriented and takes actions as compared to the actions that are taken in the groups and collective efforts.

The ideas of masculinity as make dominated achievements and heroism as opposite to the modesty and honesty of feminism in western nations rather than in eastern nations.

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2 years ago

A firm has a profit margin of 6% and an equity multiplier of 1.5. Its sales are $230 million, and it has total assets of $115 mi

Ket [755]

Answer:

18%

Explanation:

In this question, we use the DuPont Analysis which is shown below:

ROE = Profit margin × Total assets turnover × Equity multiplier

ROE = 6% × 2 × 1.5

= 18%

The total assets turnover is shown below:

= Sales ÷ total assets

= $230 million ÷ $115 million

= 2

Simply we apply the ROE formula in which the profit margin is multiplied with the total assets turnover and the equity multiplier

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2 years ago

Which of the following statements is true.

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A. Women face wage discrimination and experience lower pay within similar professions compared to men.

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2 years ago

Read 2 more answers

When a firm is in a constant-cost industry, a decrease in demand will result in economic __________ (losses or profits) . This w

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Answer: When a firm is in a constant-cost industry, a decrease in demand will result in economic losses. This will cause exit from the industry, resulting in a decrease in supply over time. This long-run adjustment eventually cause the price level to decrease so that it eventually occur at a higher level than before the demand shift. There will be firms fewer in the industry. The long-run industry supply curve will be downward shifting.

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3 years ago

Milea Inc. experienced the following events in Year 1, its first year of operations:

Ostrovityanka [42]

Answer:

1. Net income = $35,750

2. Stockholders' equity = $48,200

3. Total assets = Total Equity and Liabilities = $56,300

4. Net cash generated = $47,840

Explanation:

1. Prepare the income statement

Milea Inc.

Income Statement

For the Year ended 31 December Year 1

Details Amount ($)

Revenue:

Service income 45,000

Expenses:

Utility expense (1,150)

Accrued salaries (8,100)

Net income 35,750

Dividend paid (1,050)

Retained earnings  34,700 

2. Prepare the statement of changes in stockholders' equity

Milea Inc.

Statement of changes in stockholders' equity

For the Year ended 31 December Year 1

Details Amount ($)

Common stock 13,500

Retained earnings 34,700

Stockholders' equity  48,200 

3. Prepare the balance sheet as of December 31.

Milea Inc.

Balance Sheet

As of 31 December Year 1

Details $

Assets

Current Assets

Ending cash balance 47,840

Accounts receivable ($45,000 - $36,540) 8,460

Total assets  56,300 

Equity and Liabilities

Stockholders' equity 48,200

Liabilities

Current liabilities

Accrued salaries 8,100

Total Equity and Liabilities  56,300 

4. Prepare the statement of cash flows for the Year 1 accounting period.

Milea Inc.

Statement of Cash Flows

For the Year ended 31 December Year 1

Details $ $

Net income 35,750

Adjustment to reconcile net income:

(Increase) decrease in current assets:

Accounts receivable ($45,000 - $36,540) (8,460)

Increase (decrease) in current liabilities:

Accrued salaries 8,100

Net cash from operating activities 35,390

Cash flow from financing activities:

Common stock 13,500

Dividend paid (1,050)

Net cash from financing activities 12,450

Net cash generated 47,840

Beginning cash balance 0

Ending cash balance  47,840 

7 0

2 years ago