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Colt1911 [192]
3 years ago
12

The Income Statement is also known as the company's financial condition at a specific point in time. A : True B : False

Business
1 answer:
sukhopar [10]3 years ago
3 0

Answer:

A : True

Explanation:

  • The income statement is also called as a profit and a loss statement and is called a revenue statement and is transformed into the net income and the net profits and is to show the managers and the investor whether the company is making a profit and represent over a period of time.
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g The following information relates to XYZ Company: January 1, 2023: Liabilities ............... $137,000 Retained earnings ....
Georgia [21]

Answer:

The common stock at January 1, 2023 is \$ 77,000

Explanation:

Total equity                                \$258,000

Total Liabilities                           \$123,000

Total asset as on December     \$381,000

Learn more about common stock, refer :

brainly.com/question/11453024

5 0
3 years ago
Which of the following statements is CORRECT? a. During a period when a company is undergoing a change such as increasing its us
hram777 [196]

Answer:A. During a period when a company is undergoing a change such as increasing its use of leverage or taking on riskier projects, the calculated historical beta may be drastically different from the beta that will exist in the future.

Explanation: Leverage is a term used in Financial investment to mean the use of various borrowing options by an organisation in order to improve its potential to make profit or its potential to be Competitive.

Risky projects are projects known to high a high chances of loss,this type of projects can lead to severe consequence for business Organisations.

the beta of an investment is a measure of the risk which is caused by the exposure of an investment to general market changes as opposed to internal factors that can have severe negative impact on an investment.

7 0
3 years ago
Which of the following must be included in Pete’s income? 1. Short-term capital gains of $10,000 from the sale of stock. 2. Long
devlian [24]

Answer:

1. Short-term capital gains of $10,000 from the sale of stock.

2. Long-term capital gains of $80,000 from the sale of real property and

3. Interest income from Pete’s savings account.

Explanation:

An income statements shows revenue, expenses and net income over a specified period of time. Revenue (gross revenue or sales revenue) consists of cash inflows and interests both short term and long term such as profits, interest on investments. Expenses consist of cash outflows, using-up of assets and incurred liabilities such as tax, rents and so on. Gifts are not included as part of income statements

7 0
3 years ago
Read 2 more answers
O’Hara Associates sells golf clubs, and with each sale of a full set of clubs provides complementary club-fitting services. A fu
makvit [3.9K]

Answer:

$60.00

Explanation:

Calculation to estimate the stand-alone selling price

Hara Amount $ Note

Staff compensation $50.00

Mark up % 20%

Mark up amount $10.00

(20%*$50)

Standalone selling price of club fitting services $60.00

($50.00+$10.00)

Therefore the estimated stand-alone selling price will be $60.00

8 0
3 years ago
Louis owns an import business. After traveling to France on numerous occasions, he developed a taste for fine French wines. A ra
Tamiku [17]

Answer:

B. French wines will become more expensive in the United States.

Explanation:

Exchange rate is the rate at which one currency can be exchanged for another during international trade. The strength of a currency determines how much of the other countrie's goods it can purchase.

When the strength of a countrie's currency is high it will purchase more of the other countrie's goods. If however the currency is weak, it will take more to buy the other countrie's goods.

In this case if the dollar falls against the euro, it will take more dollars to buy French wine than before.

For example if a bottle of French wine was $500, after the fall the price may now be $800.

3 0
3 years ago
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