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FinnZ [79.3K]
1 year ago
9

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:
aev [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.

This is further explained below.

<h3>What is a financial statement?</h3>

Generally, Financial statements are written documents that represent a company's commercial operations as well as its financial performance within a certain period of time.

Audits of financial accounts are often conducted by government agencies, accounting firms, and other organizations for the objectives of ensuring their correctness and meeting the requirements for taxation, financing, and investing.

In conclusion, Selecting a base year and then expressing each item in terms of its relationship to that amount is a practical strategy for standardizing financial statements.

Read more about financial statements

brainly.com/question/14951563

#SPJ1

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While planning a new product launch, Cassandra knew that the art department was ready to work on the promotional pieces right aw
k0ka [10]

Answer:

A. 1 week

Explanation:

This is true due to the fact that, Cassandra knew it would take about 1 week to establish the price point in the new product which she is planning to launch.

For the extra week it would have taken to get the paper could not hold again due to the fact that, it was already established that, it would take same day to get same paper rather than waiting for the paper to get to the strategy group in one week.

5 0
2 years ago
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the
Evgesh-ka [11]

Answer:

 7,780 units

Explanation:

When using the weighted-average method in its process costing system we are only interested in the equivalent units of the output in that particular process. Outputs being Units completed and transferred and units in ending work in process.

Units in Ending Work in Progress calculation

Units in Ending Work in Progress = 1,300 units + 8,300 units - 6,800 units

                                                       = 2,800 units

Conversion Costs

Units completed and transferred (6,800 x 100%)             6,800

Units in Ending Work in Progress (2,800 x 35 %)                980

Equivalent units of Production  - Conversion Costs         7,780

Conclusion

the equivalent units for conversion costs for the month in the first processing department are   7,780 units

3 0
3 years ago
The town of Chester has an economy composed entirely of two equally sized food companies. Both company Q and company R produce p
ExtremeBDS [4]

Answer:

C) abandon the production of jam to fully specialize in the production of peanut butter and then trade with Company Q for jam.

Explanation:

According to different theories about trade specialization, a company or even a country should specialize in producing only those products that they can make better than their competition, i.e. have a comparative or absolute advantage in their production.  

In this case, since Company R has a comparative advantage in the production of peanut butter, it should specialize in producing only that. In case they need jam, they should trade with Company Q in order to get some jam. Eventually Company Q  will only produce jam since they have a comparative advantage in jam production.

8 0
3 years ago
Do you believe the statement "perception is reality"? Why or why not?
Allisa [31]
I wholeheartedly agree and think it’s practically self-evident.

Here’s an excellent example from history.

For 28 years, the Berlin Wall separated East Berlin from West Berlin and was the most heavily militarized border crossing in the Western hemisphere. In 1989, during a press conference with western media, Gunther Schabowski was handed a note explaining a change in policy governing border crossing. Several discussions took place about making a show of opening the border between East and West Germany, but nobody informed Schabowski.

At the end of the press conference, he appears to have remembered the note belatedly, and read it verbatim—which was not what was intended. When asked about when the border would open, he assumed it was immediate.

The reality of course was that East Germany had no intention of opening the border, and certainly not immediately.

Within hours, the border crossing was practically buried under thousands of East Germans eager to be reunited with their families and other loved ones after 28 years on the press conference, which had been broadcast live.

The East Germans believed what they were told: Schabowski said immediately, and they intended to go immediately.

Border guards kept calling for instructions, until finally, they relented.

Perception became reality, and the border between East and West Berlin opened, spelling the de facto end of the separation of Germany.
273 viewsView 2 Upvoters · Answer requested by Never Wong
Related Questions (More Answers Below)
3 0
3 years ago
How did the growth of cities and commerce along with new theories of government lead to changes in social structure that affecte
Ksenya-84 [330]

Answer:

Societal hierarchy

<h3>Explanation:</h3>

Humanism was the concept of individual self-worth and meaning outside the traditional societal hierarchy.

People began to become interested in the betterment of themselves through education.

To learn more about it, refer

to brainly.com/question/24553900

#SPJ4

3 0
2 years ago
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