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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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Yanka [14]

Answer:

ranboo he's so unproblematic and he's so funny

Explanation:

5 0
3 years ago
Read 2 more answers
9) A firm is selling two products, chairs and bar stools, each at $50 per unit. Chairs have a variable cost of $25, and bar stoo
Ksivusya [100]

Answer:

Ans.

a) BEP (units) =727; BEP($)= $36,350

b) BEP (units) =690; BEP($)=$34,500

Explanation:

Hi, in order to find the break even point in units, we have to use the following equation in both cases.

BEP(Units)=\frac{Fixed Costs}{(AveragePrice-Average VariableCost)}

Since the sales mix is different in both scenarios, let´s find the average variable cost for a) (notice that there is no need to find the average price because both, the stool and the chair have the same price)

AverageVariableCost=25*\frac{1}{2} +20*\frac{1}{2} =22.5

Now, the fraction aside each of the price is 1/2 in both cases, because the sale mix 1:1 means that the company makes 1 stool for every chair it makes, in fraction that is, for every 2 items that the company makes, 1 is a stool (1/2) and 1 is a chair (1/2).

So, our BEP in units is:

BEP(Units)=\frac{20,000}{(50-22.5)} =727

BEP(Dollars)=727*50=36,350

That means that the company has to make 727 units, which 363 are chairs and 364 are stools (you could say 364 chairs and 363 stools too, because we are heavily rouding numbers). This is represented in $36,350 in sales.

Now, for b), our average cost is:

AverageVariableCost=25*\frac{1}{5} +20*\frac{4}{5} =21

As you can see, the fraction changed, that is because of the new sales mix of 1:4, that is: the company makes 4 stool for every chair it makes, in fraction that is, for every 5 items that the company makes, 4 are a stools (4/5) and 1 is a chair (1/5).

Now, let´s find our new BEP in units and dollars.

BEP(Units)=\frac{20,000}{(50-21)} =690

BEP(Dollars)=690*50=34,500

That means that the company has to make 690 products, which 138 are chairs and 552 are stools. This is represented in $34,500 in sales.

Best of luck.

5 0
3 years ago
What is an example of a savings and loans bank?
tatyana61 [14]

Answer:

Savings and loan institutions–also referred to as S&Ls, thrift banks, savings banks, or savings institutions–provide many of the same services to customers as commercial banks, including deposits, loans, mortgages, checks, and debit cards.

Explanation:

hope this helps if it doesnt then im  sorry  

8 0
3 years ago
ATech has fixed costs of $7 million and profits of $4 million. Its competitor, ZTech, is roughly the same size and this year ear
NISA [10]

Answer:

a. ZTech will have a higher operating leverage because it has a higher fixed cost.

b. ZTech will have a higher profit since it has a higher operating leverage if the economy strengthens.

Explanation:

Operating leverage measures the the extent to which a firm uses fixed cost to finance its operations. The higher the fixed cost, the higher the degree of operating leverage

If the economy strengthens, the firm with a higher degree of operating leverage earns a higher profit.

8 0
3 years ago
Identify a true statement about succession planning. Group of answer choices Long-term succession planning should exclusively in
matrenka [14]

Answer:

It provides career opportunities and plans for individuals, which helps retention and performance.

Explanation:

Given that succession planning is the planning technique that involves the turning over of a firm's leadership roles, which is usually the owner of a firm or business to one or more employees such that the businesses keep running smoothly even after the firm's pioneers have long gone.

Some of the factors to consider when developing succession plans are

1. Internal candidates.

2. Candidate development.

3. Multiple candidates.

4. Diversity.

5. Team approach.

6. Middle management of the firm

7. Retention

Hence, the true statement about succession planning is that "it provides career opportunities and plans for individuals, which helps retention and performance."

7 0
3 years ago
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