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Sophie [7]
3 years ago
13

Accounting is an information and measurement system that: I.Communicates business activitiesII.Identifies business activitiesIII

.Records business activitiesIV.Helps people make better decisions
Business
1 answer:
andriy [413]3 years ago
7 0

Answer:

I.Communicates business activities

II.Identifies business activities

III.Records business activities

IV.Helps people make better decisions

Explanation:

Accounting is an information measurement system that identifies business activities, records the business transactions as they occur, in order in which they occur, communicate the result of operations to interested parties  which helps all the stakeholders make informed decision.

The main goal of accounting information is to communicate the true and fair view position of the entity to people that may want to make informed judgment on the entity.

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_____ refers to a set of shared assumptions, values, and behaviors that characterize the functioning of an organization.
valina [46]
The answer is organizational culture.
8 0
3 years ago
Your Aunt Elsa has $500,000 invested at 6.5%, and she plans to retire. She wants to withdraw $40,000 at the beginning of each ye
Ksju [112]

Answer:

22.85

Explanation:

Present value (PV): $500,000

Rate: 6.5% per annual

Payment (PMT) : $40,000 per year

We can use excel to calculate the maximum number of whole payments that can be withdrawn before the account is exhausted

=NPER(rate, PMT, -PV,,1) = NPER (6.5%,40000,-500000,,1) = 22.85

Download xlsx
7 0
3 years ago
The government of Ruritania has implemented many programs that promote equality, but has become concerned about the very slow ra
IceJOKER [234]

Answer: b. reduce taxes and cut back on some social programs

Explanation:

When the Economy is not doing well, Social programs are usually targeted as they usually take a lot of money from the Government's coffers.

It is also a generally held view that reducing taxes as a Fiscal policy can help stimulate the Economy by leaving the public with more funds to invest in and spend on the Economy.

The Government of Ruritania is therefore most likely to combine reducing Social programs as well as reducing taxes. This will have the effect of leaving the Government with some money as it loses revenue from taxes whilst also enabling the public to have more money to invest and to spend which will then lead to Economic growth.

8 0
3 years ago
Pettit Company reports net income of $90,000 in 2019. However, ending inven- tory was understated $7,000. What is the correct ne
zimovet [89]

Answer:

<em>a)Corrected net income= $97,000</em>

<em>b) Total assets figure is understated.</em>

Explanation:

<em>To arrive at the net income, cost of goods sold is usually deducted from the sales revenue. An cost of sold is determined by subtracting the value of inventory. So an understated inventory would mean an overstated </em><em>cost of goods sold </em><em>and </em><em>understated net income</em>

<em>Correct net income = 90,000 + 7,000</em>

<em>                                 = $97,000</em>

<em>Inventory is part of current assets s reported in the balance sheet . Therefore, if inventory is understated it implies that the current assets figure is understated and therefore the</em><em> total assets figure is understated.</em>

<em />

8 0
3 years ago
Novak Corporation amended its pension plan on January 1, 2020, and granted $152,280 of prior service costs to its employees. The
m_a_m_a [10]

Answer:

26762.74

Explanation:

Prior service cost amortization for 2020 can be calculated by first calculating the average time until the employee's retirement. After calculating the average time until retirement we will divide the service cost at that time

Workings

average time until retirment  = 1880/330

average time until retirment = 5.69 years

prior service cost amortization for 2020 = $152,280/5.69

prior service cost amortization for 2020 = $26762.74

3 0
3 years ago
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