"The length of stay at your current residence" is the one among the following choices given in the question that is the data <span>used to determine credit scores. The correct option among all the options that are given in the question is the second option or the penultimate option. I hope the answer comes to your help.</span>
Answer:
The complete answers are below.
Explanation:
a) The main difference between Financial Accounting and Managerail Accounting is its purposes and the stakeholders who make use of the information that each one provides.
While financial accounting refers to the aggregation of accounting information in the financial statements, management accounting refers to the internal processes used to account for business transactions.
For instance: Financial accounting reports on the results of an entire business, Managerial accounting reports at a more detailed level. Financial accounting must comply with various accounting standards, whereas managerial accounting does not have to comply with any standards when information is compiled for internal consumption.
b) The financial statements most frequently provide are: Balance Sheet or Financial Position, Income Statement, Statement of cash flows and Statement of Changes in Equity.
c) In general, financial reports and financial statements differ in the formal status of financial statements in business and accounting, and these respond to standards such as GAAP and IFRS. While the financial reports have a format or presentation rules given by management, the financial statements, in the other hand, are prepared on regular basis as specific entities are required to do so according to applicable laws. It can be said that financial accounting provides financial statements and managerial accounting is responsible for financial reports.
Is their any way you can put a picture
Answer:
True.
Explanation:
When companies are initiating measures to boost profits for public interest, the public social welfare is increased. Companies do represent that the purpose of their business is not only to raise profits but also to serve society and their welfare. The statement is therefore true corporate social responsibility is not relevant when profits of organizations are aligned to the public interests.
Answer:
Bad debt expense for 2020 is - $ 2,234
Explanation:
Adjustment to the Allowance for Doubtful Debts (Increase or Decrease) are recorded in the Income Statement as part of Bad Debts Expenses as follows;
<em>Increase in Allowance for Doubtful debts = Increases the Bad Debts Expense</em>
<em>Decrease in Allowance for Doubtful debts = Decreases the Bad Debts Expense</em>
During the Period Allowances for Doubtful Debts are calculated as :
Allowances for Doubtful Debts = $53,600 × 6%
= $ 3,216
Bad Debt Expense = $ 3,216-$5,450
= - $ 2,234