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4 years ago

The matching principle

Business

1 answer:

suter [353]4 years ago

7 0

Answer:

b) states that the revenues and related expenses should be reported in the same period.

Explanation:

Matching principle -

It is one of the basic guideline of accounting , the principle helps to directs a company to report the expense of its income statement when the related revenues are earned .

According to this principle , the expenses and revenues need to be reported at the same time .

hence , the correct statement for the term matching principle is - ( b ) .

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he following information was taken from the records of Tinker Enterprises: 2019 2018 Beginning inventory $60,000 $50,000 Cost of

Pavlova-9 [17]

Answer:

2019 - $437,000; 2018 - $382,000

Explanation:

The computation of the correct cost of goods sold for both 2018 and 2019 is shown below:

For 2019

= Beginning inventory + Cost of goods purchased - Ending inventory

= $68,000 + $420,000 - $51,000

= $437,000

For 2018

= Beginning inventory + Cost of goods purchased - Ending inventory

= $50,000 + $400,000 - $68,000

= $382,000

In 2019

Beginning inventory = $60,000 + $8,000 = $68,000

Ending inventory = $55,000 - $4,000 = $51,000

In 2018

Ending inventory = $60,000 + $8,000 = $68,000

5 0

4 years ago

Although you have an exam tomorrow, you are considering watching one more episode of your favorite TV show. You will choose to s

AURORKA [14]

Answer:

The correct answer is A

Explanation:

Facing a decision for yes or not (buy or not to buy, sleep or not to sleep, eat or not to eat, and so on) you will choose to do something if this something gives you a positive marginal benefit.

In this case your situation has two sides. By one side, watching an extra episode is good and gives you utility, buy you also need to study and not tu study gives you disutilty (or it's a cost). So, you will watch your episode if it gives you more marginal benefit than the cost it gives you.

If you are in a situation where the marginal cost and benefit are already equal you won't watch another episode, as the marginal benefit will be negative.

Watching an extra episode is not free, it has an opportunity cost (study for the exam)

And about D, watching an extra episode will not always guarantee fun, think about watching 18 episodes in a row, not going to school and getting fired from job.

So, correct answer: A

8 0

3 years ago

A manager of a taco stand is interested in advertising to get more lunch time customers, but doesn’t know how much time it takes

Ganezh [65]

Answer:

R = 4 customers per minute

I = 12 customers in line

average time (T) = 3 minutes per customer

Explanation:

if we follow Little's Law and its assumptions: L = λW

L = average number of clients in line = 12
λ = arrival or departure rate = 4 per minute
W = average waiting time

W = L / λ

average waiting time = average number of clients in line / average number of clients arriving (or departing) = 12 / 4 = 3 minutes

Little's Law can also be written as I = RT

I = L

R = λ

8 0

4 years ago

Instructions: Following programs has some errors. Locate as many as you can.

lbvjy [14]

Answer:

#include <iostream>

using namespace std;

int main()

{

double number1, number2, sum;

cout<<"Enter a number: ";

cin >> number1;

cout<<"Enter another number: ";

cin >> number2;

sum = number1 + number2;

cout <<"The sum of two numbers is "<< sum <<endl;

return 0;

}

Explanation:

The correct program can be seen above.

You need to add #include <iostream> and using namespace std; before your main function. Other issues are following;

Line 4, 5, 6, 7, 9 -> cout and cin must start with a lowercase letter

Line 5 -> cin >> number1;

Line 7 -> cin >> number2;

Line 8 -> sum = number1 + number2;

Line 9 -> cout << "The sum of two numbers is " << sum << endl;

7 0

3 years ago

William and Charlotte Collins divorced in November of Year 1. William moved out and Charlotte remained in their house with their

musickatia [10]

Answer:

Charlotte has the priority to claim Autumn as her dependent even though William covered 70% of her living expenses during the year. In order for a parent to be able to claim a child as a dependent, he/she must live with the child for more than half the year. In this case, since William left the house, Charlotte has preference over claiming Autumn as her dependent (even though William lived with Autumn for 10 months). Also, a parent always has priority over other relatives including a grandparent.

7 0

3 years ago