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LuckyWell [14K]
3 years ago
13

Consider the following accounting terms and definitions:

Business
1 answer:
gladu [14]3 years ago
6 0

Answer:

8. First-In, First-Out (FIFO) - a.

7. Disclosure Principle - b

1. Specific Identification - c

6. Weighted-Average - d

4. Conservatism - e

3. Last-In, First-Out (LIFO) - f

5. Consistency Principle - g

2. Materiality Concept - h

Explanation:

FIFO is a sale technique which provides the oldest stoke of goods as the first sales batch, while LIFO brings the last inventory first.

The materiality concept is a situation where the financial information of a company is said to be material from observing the preparation of the financial statements if it can change the opinion of a reasonable person.

The consistency principle states that once an accounting principle is adopted, it can never be changed. Disclosure principle states that company report must be given to outsiders for knowledgeable decision.

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When looking to advertise a new business online, what is one of the major benefits of display ads?
Margarita [4]

Answer:

Ambitious Displaying adds that are eye catching are a major benefit to businesses. It allows you to make your mark on a users brain, when using display ads make sure to make yours stand out you dont want your advertisement to be one of the annoying ones that forces users to ignore it completely. Hope this helps!

8 0
3 years ago
Read 2 more answers
If inflation in the U.S. is projected at 3% annually for the next 5years and at 7% annually in Turkey for the same time period,
GrogVix [38]

Answer:

6.86011 Turkish liras per US dollar

Explanation:

US's inflation 3% for the next 3 years

Turkey's inflation 7% for the next 3 years

current Lira/Dollar spot rate (L/$) = 5.6702 (liras per dollar)

  • inflation rate US = (1 + 0.03)⁵ = 1.159274
  • inflation rate Turkey = (1 + 0.07)⁵ = 1.402552

difference = 1.402552 / 1.159274 = 1.20985 x current spot rate = 1.20985 x 5.6702 = 6.86011

Since the Turkish inflation rate is higher than the American inflation rate, then the Turkish lira will depreciate faster than the US dollar.

5 0
3 years ago
Receive cash from customers, $15,000. Pay cash for employee salaries, $9,000. Pay cash for rent, $3,000. Receive cash from sale
Alexeev081 [22]

Answer:

Part 1

<u>Cash Account</u>

                                                                           $

<u>Debit :</u>

Receive cash from customers                     15,000

Sale of Equipment                                         8,000

Bank Loan                                                      4,000

Totals                                                            27,000

<u>Credit :</u>

Pay cash for employee salaries                   9,000

Rent                                                                3,000

Utilities                                                            1,000

Advertising                                                     7,000

Ending Balance                                              7,000

Totals                                                            27,000  

     

Part 2

Ending Balance is $7,000

Explanation:

Only Cash related purchases and receipts are posted to Cash Account. Thus ignore non-cash related transactions.

The Cash Account : Receipts are posted at the Debit side of this Account and Payments at the Credit Side.

The Balance : After determining the Totals of the Debit and Credit, the shortfall of any of that side represents the Balance.

7 0
3 years ago
Which is most likely to result from a layoff of factory workers in a town?
Soloha48 [4]
<span>The most likely result from a layoff of factory workers in a town is that the unemployment rate will rise, at least temporarily. This is assuming the factory is in the US and all workers are full time. Other government services might also see an increase, such as food stamps, job training services, etc.</span>
7 0
3 years ago
Which of the following is not true about credit cards
givi [52]
Can i see the answer choices
5 0
3 years ago
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