Answer:
c. Materiality
Explanation:
The relevance of information is affected by its materiality. Information is material if omitting it or misstating it could influence decisions that users make on the basis of financial information about a specific reporting entity.
An error which is too trivial to affect a user’s understanding of financial statement is referred to as immaterial. There is no absolute measure of materiality that can be applied to all businesses. In other words there is no rule that says any item greater than 5% of profit must be material. Whether an item is material or not depends on its magnitude or its nature or both in the context of the specific circumstances of the business.
So based on the above discussion, the answer is c. Materiality
<span>By law, your liability insurance policy must provide minimum amount of $60,000 for collisions in which more than one person is injured.
A contract or legal document between policy holder and contractor, containing the terms including when an in insurance company will pay the loss and when it can reject the claim under certain conditions.</span>
Answer: $390
Explanation:
Revenue for a merchandising business is realized when the business sells some of its goods to customers. This can either be in cash or on account which would mean that the customer did not pay cash but now owes them.
The business sold merchandise costing $350 for $390 on account so this is the amount that they will recognize as revenue.
The answer is <u>"a. critical thinking".</u>
Critical thinking is a standout among the most looked for after aptitudes in pretty much every industry and each work environment. It alludes to the capacity to break down data dispassionately and make a contemplated judgment.
You can show your critical thinking capacities by utilizing watchwords identified with basic reasoning in your resume and introductory letter, and during your interview.
Answer:
Explanation:
Bank reconciliation is practice of reconciling the bank account balance in a company's book to the balance reported by the bank i order to discover and correct any discrepancy
<u>Workings</u>
<u>Bank reconciliation for Nolan for the month of June</u>
Bank statement balance 28,152
Add bank deposit 3,853 3853
32,005
Less outstanding check (2801) (2801)
29,204
Cash book balance 29,193
Add back error in check (89-80) 9
Interest Earned 34 43
29,236
Less bank charges 32 (32)
29,204