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Andrej [43]
3 years ago
15

Which practice is in accordance with US GAAP? A. A company values assets at their market value. B. A company recognizes expenses

when they incur them. C. The monetary unit principle takes inflation into account. D. The accounting period of a business keeps changing. E. Businesses and owners are legally dependent.
Business
2 answers:
Akimi4 [234]3 years ago
8 0

The correct answer is :B
neonofarm [45]3 years ago
7 0

The correct answer is choice B.

Choice B, a company recognizes expenses when they incur them, is the only choice which is in accordance with US Generally Accepted Accounting Principals. All of the other options are against GAAP.

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State whether each of the following statements is true or false.
sineoko [7]

Answer:

Answer for Question 1 is False

Answer for Question 2 is False

Answer for Question 3 is True

Answer for Question 4 is True

Answer for Question 5 is True

Explanation:

1. Debenture bonds include unsecured bonds but do not include mortgage bonds and sinking bonds.

2. Callable bonds are bonds issued by the issuer before the maturity period.

3. True about market rate.

4. True about Annual interest.

5. True about the Present value of a bond.

6 0
4 years ago
Which type of account typically has low liquidity? AMoney Market Account BCertificate of Deposit (CD) CChecking Account DSavings
natta225 [31]
Likely B. Liquidity is basically the measurement of how quickly a given investment can be turned into cash. If you can sell it or take money from it quickly, it is liquid. Any one of the others (A, C or D) can be withdrawn from in a short time, and thus are very liquid. CDs, however, are set to a specified amount of time. You deposit money for, say, 5 years and then are allowed to withdraw it, not before. Thus, it is not liquid.
8 0
3 years ago
A furniture company using accrual accounting purchased 20 sofas in November 2011. In December 2011, 8 of the 20 sofas were sold
kvasek [131]

Answer:

November 2011

Explanation:

Based on the information given if the company purchased 20 sofas in the month of November 2011 in which the company paid the amount of $3,000 for an advert that ran in the local newspaper in the same month of November 2011 which simply means that the month in which the advertising costs should be expensed is the month of NOVEMBER 2011 which is the month the company paid the amount of $3,000 for advertising in the local newspaper.

6 0
3 years ago
An economy has $10 trillion in consumption, $2.5 trillion in investment, $3 trillion in government purchases, $1 trillion in exp
barxatty [35]

Answer:

$15 trillions

Explanation:

The computation of the GDP is shown below:

GDP = Consumption + Investment + Government purchase + Net exports

where,  

Consumption = $10 trillions

Investment = $2.5 trillions

Government purchase = $3 trillions

Net exports = Exports - imports

= $1 trillion - $1.5 trillion

= -$0.5 trillion

So, the GDP would be

= $10 trillions + $2.5 trillions + $3 trillions - $0.5 trillions

= $15 trillions

= 13.5 trillions

3 0
3 years ago
MB has been using proper workflow for her sales process by creating invoices, receiving payments, and recording deposits using t
Semenov [28]

She will be able to m<em>atch </em>downloaded deposits to <em>existing</em> transactions in the Banking Center.

MB been an accountant,  she must follows workflow process to ensure efficiency of operation.

  • The process of creating invoices, receiving payments, and recording deposits  are part of the Workflow process she must adhere to at her place of work.

In conclusion, the process makes the work of employee easier and uncomplicated because its enables them adhere to a strict procedure of getting work done.

Learn more about Workflow process here

<em>brainly.com/question/11939249</em>

3 0
2 years ago
Read 2 more answers
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