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kap26 [50]
3 years ago
8

For external reporting​ purposes, U.S. GAAP allows companies to use

Business
1 answer:
Vilka [71]3 years ago
8 0

Answer:

B. only the traditional format of the income statement.

Explanation:

There is only one format under US GAAP, that is the traditional format, the variable costing format or the contribution margin format are all concepts of cost accounting, and not of accounting.

As per US GAAP the books are prepared in traditional format income statement. No other format is followed for reporting and presenting the financial statements of the company.

Therefore, correct option is:

Option B

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zloy xaker [14]

Answer:

D) When the percentage of trees illegally logged goes up, the price of hardwood decreases the following quarter.

Explanation:

A sequence pattern mining refers to finding patterns or features in time sequence. For instance, if the percentage of illegal logging increases in a month, the following month will witness a fall in price of hardwood.

6 0
3 years ago
Can someone plz and answer this, I’m giving 100 points and brainliest!!
yulyashka [42]

Explanation:

5)The North American Free Trade Agreement was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. Th6e agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada...

4)Trade barriers are restrictions on international trade imposed by the government. They either impose additional costs or limits on imports and/or exports in order to protect local industries. There are three types of trade barriers: Tariffs, Non-Tariffs, and Quotas.......

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Interest Rates. Changes in interest rate affect currency value and dollar exchange rate. ...

Country's Current Account / Balance of Payments. ...

Government Debt. ...

Terms of Trade. ...

Political Stability & Performance. ...

Recession. ...

Speculation.

2)A country that imports more goods and services than it exports in terms of value has a trade deficit or a negative trade balance. Conversely, a country that exports more goods and services than it imports has a trade surplus or a positive trade balance..

1)Increasing your sales potential

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dont forget your promis....I’m giving 100 points and brainliest!!

5 0
3 years ago
Read 2 more answers
The historical cost principle requires that when assets are acquired, they be recorded at
Marta_Voda [28]

The historical cost principle requires that when assets are acquired, they be recorded at cost.

The historical cost principle is an accounting principle under the US GAAP. It entails recording the cost of an asset on the balance sheet at the cost with which the asset was purchased regardless of the changes in the value of the asset.

For example, if a machine was purchased at a cost of £2000. If the historical cost principle is used, the machine would be recorded at £2000 on the balance sheet.

A similar question was answered here: brainly.com/question/14417628

7 0
3 years ago
In periods of rising prices, the inventory method which results in the inventory value on the balance sheet that is closest to c
Yakvenalex [24]

Answer:

LIFO method

Explanation:

The last-in, first-out (LIFO) inventory method values the cost of goods sold (COGS) using the price of the last purchases made by the company. This valuation method is accepted by the US GAAP and it is generally applied when the replacement costs are continuously increasing.

On the other hand, the IFRS (the international accounting standard) does not allows LIFO, it only accepts FIFO.

8 0
4 years ago
Fern,Inc.has fixed costs of $400,000 and a contribution margin ratio of 30%.How much sales revenue must be earned for a profit o
malfutka [58]

Answer:

The correct option is C) $1,600,000.

Explanation:

This can be calculated using the following formula:

Sales revenue required = (Fixed cost + Targeted profit) / Contribution margin ratio .......................... (1)

Where;

Fixed costs = $400,000

Contribution margin ratio = 30%

Targeted profit = $80,000

Substituting the values into equation (1) we have:

Sales revenue required = ($400,000 + $80,000) / 30%

Sales revenue required = $480,000 / 30%

Sales revenue required = $1,600,000

Therefore, the correct option is C) $1,600,000.

7 0
3 years ago
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