Answer:
A. True
Explanation:
This two principles i.e matching principle and the revenue recognition principle are interrelated to each other
The matching principle is that the principle in which the expenses of a particular period and the revenues incurred of a particular year should be matched.
Whereas the revenue recognition principle stated that whenever the revenue is earned it should be recorded whether cash is received or not
So for recording the adjusting entries, these two principles are required
Answer:
Participation is needed to obtain necessary commitment
Explanation:
Decision Making Process is a process of Evaluation of various alternatives available through several methods like forecasting.
During evaluation, risk, time and the efficiency of these alternatives are checked.
Team-centred decision making style is preferable when;
1. Relevant information and how to go about issues cannot be not properly arranged by one person
2. Participation is needed for commitment
3. Making one individual as the central power hurts the team
4. If an uncommon decision is to be made
Answer: verifiable
Explanation:
A financial information is verifiable when the independent measurers get similar results when using the same accounting measurement methods.
In this scenario, the independent measures use thesame method but do their work separately without them knowing the results gotten by the other person. When there's similarity in the results, it shows that the results are verifiable.
To know how much you'll have by the end of the 15th year, you need to calculate <span>the future value of an annuity as follows:
</span><span>the future value of an annuity = investment [( 1 + interest)^number of years -1)] / interest
</span>
Substituting with the givens, you can get the future value annuity as follows:
<span>the future value of an annuity = 3500 [(1+0.05)^15 -1)]/0.05
</span> = 75524.97 $
The correct choice is (b)
