Answer: A - Emphasizes the external financial statements
Explanation: The characteristic of management accounting information are what makes the accounting information relevant and they include:
1. Verifiability: Management Accounting information must be verifiable that is one must be able to confirm the information on the accounts using other source documents.
2. Objectivity: Management Accounting information must be useful in decision making and planning for the future of an organisation.
3. Relevance: Management Accounting information must be reliable for decision making. The owners and decision makers must be able to rely on the information presented in the management account
4. Understandability: Management Accounting information must be understood by any user of the information presented therein. Information therein must be simple and not complex.
5. Comparability: Management Accounting information must be easy to compare with others in the same industry and also from year to year to enhance a good decision making process.
Answer:
C. Business entity principle
Explanation:
- A business entity principle is one that states the transactions that are linked to a business must have a separate record-keeping and form those who are owners of the other business.
- Thus separates the records for the organization of the business and excludes the assets and the liabilities of the other owners of the business.
Answer:
It would be A) Raina is correct because the loan is a line of credit.
Explanation:
Answer:
B. shift the demand curve leftward for tanning
Explanation:
According to the Food and Drug Administration, "...the ultraviolet (UV) radiation from these devices [sunlamps and tanning beds] poses serious health risks." As a result of reading this, the local mayor decides to introduce legislation that will put a 10% excise tax on tanning consumers. From an economic point of view, this will________
A. shift the demand curve rightward for tanning.
B. shift the demand curve leftward for tanning.
C. shift the supply curve rightward for tanning.
D. move down along the demand curve for tanning.
The excise tax is a legislated form of tax on specific goods and services at purchase; an indirect type of indirection taxation imposed on the manufacture, sale or the use of certain type of good and products. They are often levied upon goods services such as cigarettes, gasoline,alcohol, tobacco and gambling. They are considered unnecessary goods and services, Taxes are levied on them to raise their price and in order to reduce the amount they are been used.
The local mayor decides to introduce legislation that will put a 10% excise tax on tanning consumers in order to lower the demand for these devices
Consumer will now need to pay higher tax in addition to the price they will pay for the device, this is make people to tan less because of the extra cost. this will lead to a shift in the demand curve
