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tester [92]
1 year ago
8

General-purpose financial statements are the product of:____.

Business
1 answer:
Neko [114]1 year ago
5 0

General-purpose financial statements are the product of: <u>both financial and managerial accounting.</u>

<u />

<h3>What is the definition of general purpose financial statements?</h3>

The general definition of financial statements is to provide information about the effects of operations, financial position, and cash flows of an organization. This information is employed by the readers of financial statements to make judgments regarding the allocation of resources.

<h3>What are the three general objective financial statements?</h3>

The balance sheet, income statement, and cash flow information each offer unique pieces with information that is all connected. Together the three statements give a comprehensive portrait of the company's working activities.

To learn more about financial position, refer

brainly.com/question/28343240

#SPJ4

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You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually
Schach [20]

Answer:

C) False consensus

Explanation:

False consensus refers to the trust what one feel regarding other and think as similar for other person as he thinks. Also in this the opinions of the other persons would not be considered

Since in the question it is mentioned that the majority of the other store managers would feel the same way so here the false consensus would be applied

hence, the correct option is c.  

4 0
3 years ago
The centers for disease control and prevention reported a survey of randomly selected americans age 65 and older, which found th
Eddi Din [679]
What exactly is the question here? Id help out
7 0
3 years ago
An investment is advertised as returning 5.5% every 6 months (semiannually), compounded semiannually. If $50,000 is invested, th
Alecsey [184]

Answer:

(A) 11.3% (B) $430,000

Explanation:

There seems to be an error in the compounding equation written as A(t) = 50,000(1.055)2t.

Compounding the semi annual return, the equation should be

A(t) = 50,000 * 1.055^{2t}

where t is the number of years.

The equation is similar to the first expected that 1.055 is raised to the power of (2t) and not multiplied by it.

(A) Compounding at 5.5% semi-annually, the equivalent annual growth rate is computed as follows.

= 1.055^{2} -1

= 1.113025 - 1

= 0.113025 = 11.3025%

= 11.3% (to the nearest tenth of a percent).

(B) In 20 years, the investment will be worth

A(t) = 50,000 * 1.055^{2t} (where t=20)

= A(t) = 50,000 * 1.055^{2*20}

= A(t) = 50,000 * 1.055^{40}

= 50,000 * 8.5133

= $425,665

= $430,000 (to the nearest ten thousand dollars)

5 0
3 years ago
Determine proper classification (LO11-1) Analysis of an income statement, balance sheet, and additional information from the acc
alexandr402 [8]

Answer:

Patent-investing activity

depreciation expense-operating activity

issuance of note payable-financing activity

Increase in inventory-operating activity

Explanation:

The purchase of patent as intangible asset is reported as an investing activity item as an outflow of cash from the business.

Depreciation expense is meant to added to net income  in arriving at the net cash flows from operating activities

Issuance of a note payable is a financing item under the financing activities' segment of the cash flow as an inflow.

Increase in inventory is increase in net working capital which is deducted as an operating activity item .

7 0
2 years ago
Read 2 more answers
Suppose the Digby company shifts focus to only competing in the Thrift and Nano segments, while competing on price by reducing c
andriy [413]

Answer:

Niche cost leader

Explanation:

Since in the question it is mentioned that the Digby company shifts the focus to the segments of Thrift and Nano while on the other hand it also decreasing the cost so here the niche cost leader should be considered as it is focused on the specific segment also it concentrate on the price reduction i.e less the price charged by the competitor in order to gain the competitive advantage

hence, the second last option is correct

3 0
3 years ago
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