The amounts for recording properties and services purchased by a business are determined using the cost concept.
<h3>Which principle determines the amount initially entered into the records for purchases?</h3>
A principle of accounting establishes the initial amount entered for purchases in the accounting records. According to the cost idea of accounting, all purchases of items (such as assets or items required for spending) should be recorded and kept in books at their original cost. Therefore, unless specifically indicated differently, it should be understood that an asset's value on a balance sheet represents its cost. Let's use the case of a company that pays cash or bank for a building worth $200,000. The worth of the building will be recorded in the accounting records using the cost concept of accounting, which equals $2,000,000. After four years, the building's worth increased to $1,000,000.
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Answer:
B.40,000 square feet
Explanation:
Calculation to correctly denotes the number of square feet and employees over which the Building Maintenance cost and Human Resources cost would be allocated
Employees Human Resources 4,000
Machining 15,000
Assembly 21,000
Number of square feet 40,000
(4,000+15,000+21,000)
Therefore the number of square feet and employees over which the Building Maintenance cost and Human Resources cost would be allocated is 40,000
Answer:
d. excludes personal income taxes
Explanation:
Disposable personal income excludes personal income taxes.
A disposable income can be defined as an amount of money remaining after the deduction of income taxes, and social security fees.
