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3 years ago

Presented below are four statements which you are to identify as true or false.

Business

1 answer:

vagabundo [1.1K]3 years ago

6 0

Answer:

1. True.

2. False.

3. True.

4. False.

Explanation:

GAAP is an acronym for Generally Accepted Accounting Principles. It comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).

GAAP includes each of the following pronouncements:

Statements of Financial Accounting Standards.

Accounting Research Bulletins.

Accounting Principles Board Opinions.

For external reporting purposes, US Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.

When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).

Also, the financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors.

Additionally, Securities and Exchange Commission (SEC) reviews registration statements of bond issuers, investment advisers etc, to ensure they comply with current laws and regulations.

1. True: GAAP is the term used to indicate the whole body of FASB authoritative literature.

2. False: Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. All companies are required to follow the disclosure requirements at all times.

3. True: The primary governmental body that has influence over the FASB is the SEC.

4. False: The FASB has a government mandate and therefore does not have to follow due process in issuing a standard. FASB has to follow due process all the time in issuing standards.

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William Ibbs, a professor at the university of California at Berkeley, found that high project management maturity results in lower direct costs of project management.

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2 years ago

The soccer team is planning to sell health bars for a fundraiser. the prices of purchasing health bars from two different compan

stepladder [879]

40 bars ...............................................................................................

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3 years ago

Read 2 more answers

Even though Kelly did not actively post the leaked information on social media, Don and the rest of the management team decided

yuradex [85]

Answer:1.Even though Kelly did not actively post the leaked information on social media, Don and the rest of the management team decided she was still responsible for the social media infringement because she

a.told someone information which led to the social media post.

2.In the case of Serena’s social media complaints about the company, Don says the key is that, though her comments did not put the company in a good light, there are important lines she did not cross. ________, racial bias, and foul language are the three examples he cites that would beinfringements on company social media policies.

a.Hate speech

3.What is Don’s response when Kelly tells him that the assistant manager labelled social media training a “low priority”?

a.He makes a note to make sure it’ll never happen again.

4.When Kelly continues to argue against the decision to let her go, Don tells her that he is sorry to see her go and that he will give her the best reference he can under the circumstances. Here, what is his strategy for managing this difficult confrontation?

a.showing empathy for the employee

5.After the confrontation with Kelly, Don says that one thing that did not help the decision to let Kelly go was that she refused to take ________ for the social media violation.

a.responsibility

Explanation:

6 0

3 years ago

How can I start my own home base business

nydimaria [60]

You can contact a spokesman who will be able to assist you.
It is essential to have a budget that you can spent on your company.
Depending on what business you'll take part of, make sure it's advertised to the public (i.e flyer, ad)
In order to make your business the limelight, you can ask people that can be employed to your Corp. that way your business can be known by many people.
Keep your budget obtained, and don't spent to much money on your business.
You should avoid taking risks or your business can become a flop.

Good luck !! :)

6 0

3 years ago

After many years, a small community builds a toll road but discovers it is little used. if it wishes the road to be used at the

OleMash [197]

To increase the usage of the road the community should stop collecting toll payment, that is, they should set the toll equal to zero.

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4 years ago