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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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PLEASE HELP!!! I NEED HELP WITH THE WHOLE TEST SOMEONE PLS HELP
sergij07 [2.7K]

Answer:

Pretty sure it's to <u>shift the cells up</u>

Explanation:

7 0
3 years ago
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 i
Molodets [167]

Answer:

The firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

Explanation:

Normal profit equals zero economic profit or when total revenue equals

the addition of explicit cost and Implicit cost. Implicit cost is the opportunity cost.

Explicit cost = $200,000 + $75,000 + $30,000 + $20,000 + $35,000

=$360,000

Implicit cost is $90,000

Total revenue is $360,000

Normal profit = $360,000 - ($360,000 + $90,000)

$360,000 - $450,000

-$90,000.

This means the firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

5 0
3 years ago
Unscramble the vocabulary word from Chapter 12: yalplor
makvit [3.9K]

Payroll is your answer.

Payroll is a list that have all employees listed on it as well as the amount they were to be paid during a certain amount of time.

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7 0
3 years ago
Capital brought into a business in exchange for a percent of ownership in the business is called
neonofarm [45]

Answer:

D: Equity financing

Explanation:

Equity is ownership in the business - equity financing means giving up ownership in order to secure financing.

3 0
3 years ago
Imagine an economy in which: (1) pieces of paper called yollars are the only thing that buyers give to sellers when they buy goo
Tomtit [17]
<span>Imagine an economy in which:
(1) pieces of paper called yollars are the only thing that buyers give to sellers when they buy goods and services, so it would be common to use, say, 50 yollars to buy a pair of shoes;
(2) prices are posted in terms of yardsticks, so you might walk into a grocery store and see that, today, an apple is worth 2 yardsticks; and
(3) yardsticks disintegrate overnight, so no yardstick has any value for more than 24 hours.

In this economy, the yardstick is a unit of account but it cannot serve as a store of value.</span>
4 0
3 years ago
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