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Norma-Jean [14]
3 years ago
14

Identify which of the following statement(s) is (are) correct as to why accounting is important. (check all that apply.) manager

s, creditors, investors and owners need reliable financial information in order to make decisions. Accounting information summarizes or conveys information about an organization’s business activities. Accounting information identifies, records and communicates information about a business
Business
1 answer:
Dominik [7]3 years ago
7 0

Answer:

The correct statements are A, B and C

Explanation:

Accounting plays a important role while running a business as it helps the company in keeping a track of expenditures as well as income, it ensures the statutory compliance.

Provide the owners, managers, investors and creditors reliable information so that could take the decisions.

It summarizes the information and help in conveying the information related to the firm activities.

It records as well as communicate the information regarding the business.

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When you begin your first full-time job, you have a monthly income of $3,500. Your federal and state taxes are $1,000. You pay $
elixir [45]

Answer:

c. discretionary income.

Explanation:

There are various incomes which are explained below:-  

a. Net Income: The income which is calculated after considering all expenses is called gross income.

b. Disposable income: The income which is computed after deducting the tax expenses is known as disposable income. It is not meant for basic necessities that means it considered only tax expenses.

c. Discretionary income: The income which is computed after considering the income, government taxes, other business expenses and day to day expenses is called discretionary income.

d. Gross income: The income which is calculated before considering all expenses is called gross income.

e. Earned income after taxes: The income which is earned after deducting the tax expenses is called earned income after taxes.

In the given situation, the most appropriate option is C.

4 0
3 years ago
Match each description to the trait it relates to.
Elena-2011 [213]

Answer:

A : 4

B : 3

C : 2

D : 1

Explanation:

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5 0
2 years ago
Martin puts his weekly paycheck into his checking account. In which column should he write the value of his paycheck?
deff fn [24]

Answer

a. Deposits

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A checking account is a bank account where members can withdraw and deposit money with ease of access. It is mostly used for bill payments and for making personal financial transactions .A checking account allows for check deposits and debit card transactions


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3 years ago
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A company earned $2,880 in net income for October. Its net sales for October were $12,000. Its profit margin is:
snow_lady [41]

Answer:

profit margin = 23.33%

Explanation:

profit margin = net profit /  net sales

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profit margin = $2,800 / $12,000 = 0.233333 = 23.33%

The profit margin is a profitability ratio used to compare how many cents different companies are able to make from selling $1. Different companies have different sales levels, but we can group companies by industries and then compare them in order to determine which ones are more efficient at generating income. E.g. Company A sells $100 million but only makes $2 million in profits per year (PM = 2%), and it is much less efficient than Company B that sells $10 million and makes $1 in profits (PM  = 10%). Company A's costs are too high compared to Company B's costs.  

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