Answer:
d. $15,000 is allocated to A; $10,000 is allocated to B
Explanation:
Activity C will not carry and suspended losses as it was profitable, the net of 25,000 will be distributed among the lossing activites:
60,000+ 40,000 = 100,000 loss
activity A weight 60%
activity B weight 40%
net loss: 25,000
activity A 25,000 x 60% = 15,000
activity B 25,000 x 40% = 10,000
i not sure but cyclical makes more sense.
<span>a.
</span>Compare designated amounts from the accounts
payable listing with the voucher and supporting entitites.
<span>b.
</span>Select a sample of receiving documents for a few
days before and after year end.
<span>c.
</span>Obtain a listing of the accounts payable and
agree total to general ledger control account.
<span>d.
</span>Review drafts of the financial statements
Answer:
Yes, it is permissible to violate generally accepted accounting principles when preparing reports used by company management.
Explanation:
GAAP stands for 'Generally Accepted Accounting Principles'. It is a group of standards which are agreed by policy boards and are the ways that are commonly accepted to record and report accounting information.
It majorly aims to improve the clarity and consistency of financial information.
When there is any other method which is more beneficial for the user for presentation of information, then it is permitted that GAAP can be violated for preparing reports used by company.
