The one that was the cause of the passage of the Blaine amendments was :
Congress was not thoroughly prohibiting states from funding religious
schools.
As the part of separation of state and church, the amendment
was created to forbid direct government aid to educational institution
with religious affiliation, the program was considered a failure
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Answer:
Bob's predetermined overhead rate = 9.91
Explanation:
Calculation for predetermined overhead rate
Predetermined overhead rate = Estimated (Budgeted) Overhead Expense / Estimated Direct Labor Hours
Predetermined overhead rate = 110917 / 11198
Predetermined overhead rate = 110.917 / 11.198
Predetermined overhead rate = 9.91
Answer:
None of these answers is correct.
Explanation:
A static budget is also referred to as a fixed budget. A static budget remains constant throughout a period regardless of changes in inputs. A static budget is prepared at the beginning of a period. It is an informed forecast of incomes and production in the coming year.
A flexible budget adjusts to changes in volumes or activity. A flexible budget is prepared using the actual activity level and incomes at the end of a period. A comparison is then made with the actual expenses to evaluate the performance for the year.
Answer:
The answer is relevance and faithful representation.
Explanation:
Accounting information that is not relevant useful.
Relevance is when the accounting information in timely and use for taking major business and economic decisions.
Another one is faithful representation. Accounting information must be faithfully represented. It must be objective and free from bias.
If Accouting information is to be faithfully represented, it must have the following:
1. Completeness. There must be full disclosure of information. No material item or information must be omitted.
2. Error-free It must be 99percent error free.
3. It must be free from bias. Objectivity is the key.
Answer: See explanation
Explanation:
1. Net profit margin ratio (%) for 2017 will be:
= Net income/Net sales
= 6220/89500
= 0.0695
= 6.95%
Net profit margin ratio (%) for 2018 will be:
= Net income/Net sales
= 6370/91000
= 0.07
= 7%
An improvement of (7% - 6.95%) = 0.05% occurs in net profit.
2. Asset turnover for the year ended 2017 will be:
Net sales/Average total assets
= 89500/64400
= 1.39
= 139%
Asset turnover for the year ended 2018 will be:
Net sales/Average total assets
= 91000/65000
= 1.4
= 140%
There's an improvement in the asset turnover in 2018.
3. Return on assets for 2017 will be:
= Net income/Average total asset
= 6220/64400
= 9.66%
Return on assets for 2018 will be:
= Net income/Average total asset
= 6370/65000
= 9.80%
An improvement in return on total assets of (9.80% - 9.66%) = 0.14% occurs.
Both component-net profit margin ratio or asset turnover- are responsible for the change in the company's return on assets.
