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Tomtit [17]
3 years ago
15

Generally Accepted Accounting Principles are a. theories that are based on physical laws of the universe. b. principles that hav

e been proven correct by academic researchers. c. income tax regulations of the Internal Revenue Service. d. standards that indicate how to report economic events
Business
1 answer:
Ket [755]3 years ago
7 0

Answer:

d. standards that indicate how to report economic events

Explanation:

GAAP is the set of standards, principles and procedures which tells us that how to report any econmic event to the other stakeholders of the oraganization. It is issued by the Financial Accounting standard board (FASB). So, the correct option is d. standards that indicate how to report economic events.

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Kansas Company acquired a building valued at $162,000 for property tax purposes in exchange for 12,000 shares of its $3 par comm
Neko [114]

Answer:

$228,000

Explanation:

Value of the building

= Market price of the shares x Number of shares exchanged

= 12000x$19

=$228,000

8 0
3 years ago
The following questions will test you on what you have just learned about sentence-level writing including dangling modifiers, i
evablogger [386]

Answer:

<h2>Sentence-level Writing</h2>

a. Dangling Modifier:

 

1.

Dangling Modifier:  When beginning the meeting

Best Revision:  2. When we were beginning the meeting, the fire alarm went off

2.

Dangling Modifier :  taking the train into Boston

Best Revision: Taking the train into Boston, Katie reviewed the meeting minutes.

b. Identifying the dependent clauses:

1. Unless he responds to my request in the next 24 hours

3. When he opened the e-mail message

c. Identifying the independent clauses:

2. Meanwhile, the executive assistant printed the agenda.

d. Identifying the sentence with the correct parallel structure:

1. The systems analyst found that we needed to upgrade our equipment, revise our backup process, and implement better security measures.

e. Best option to complete the sentence:

If you _________, you will do well in this corporation.

1. write well, speak well, and use good interpersonal skills

Explanation:

a. A phrase or clause that is not directly related to the word or words it modifies is called a dangling modifier.  Usually, the word a dangling modifier modifies may be absent from the sentence.  An example is "when beginning the meeting."  The word it modifies may be "we" as in "When we were beginning the meeting, the fire alarm went off."

b. A clause which cannot make a complete sense or sentence is called a dependent clause.  It requires another clause to make a complete sense.  The clause that makes a complete a complete sentence and can stand alone without another clause is an independent clause.

c. A sentence that has grammatical structure which is balanced is said to have parallelism.  This can also be called parallel structure or construction.  This means that the items listed follow similar pattern that rhyme with one another.  Let us revise the sentence with the wrong parallel structure in this case so as to make it become a parallelism:  "The systems analyst found that we needed upgraded equipment, revised backup processes, and better implemented security measures."  By this revision, the wrong parallel sentence now has a well-structured parallelism.

5 0
3 years ago
Label each scenario below according to the type of financial asset described.
PSYCHO15rus [73]

Answer:

SCENERIO 1=BOND

SCENERIO 2=LOAN

SCENERIO 3=STOCK

SCENERIO 4=SECURITIES WHICH ARE GUARANTEED BY LOANS

SCENERIO 5=LOAN

Explanation:

Bond is a type of loan or a financial instrument through which large corporations or Government Institutions borrow money from the public with the aim of paying with a fixed interest rate in a given period.

A Loan is amount requested by an organisation from a financial institution with the aim of paying back with some percentage of interest over a given period of time.

Stocks are also known as shares which forms parts of a particular Company sold to the public with the aim of raising capital, SHARES OR STOCK HOLDERS HAVE CERTAIN RIGHTS TO DIVIDEND AND VOTING TO REPLACE BIARD NENBERS ETC WHEN THE NEED ARISE IN THE ORGANISATION.

4 0
3 years ago
Aspen Company estimates its manufacturing overhead to be $515,000 and its direct labor costs to be $515,000 for year 2. Aspen wo
Step2247 [10]

Answer:

COGS    3807 debit

FG          7896 debit

WIP         2397 debit

  Factory Overhead  14,100 credit

--to record the underapplication of overhead--

Explanation:

overhead rate:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

$515,000 overhead /  515,000 labor cost = $1

each labor cost generates a dollar of overhead.

221,400 x 1 =   221,400 overhead in COGS

459,200 x 1 = 459,200 overhead in Finished Goods

139,400 x 1 =   139,400 overhead in WIP inventory

Total applied  820,000

Actual            805,900

Underapplied    14,100

Now we weight each concept and determiante the portion underapplocated in each concept

\left[\begin{array}{cccc}Item&Value&Weight&Allocated\\COGS&221400&0.27&3807\\FG&459200&0.56&7896\\WIP&139400&0.17&2397\\&&&\\Total&820000&1&14100\\\end{array}\right]

4 0
3 years ago
A certificate or token that represents a fixed quanity of commodity is called
Talja [164]
This would be called representative money because the token itself is worth money as well as the commodity <span />
8 0
3 years ago
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