1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sp2606 [1]
3 years ago
5

To provide external shareholders with relevant, reliable, consistent, and comparable financial information, the accounting profe

ssion has adopted _____ to guide the practice of financial accounting.
Business
1 answer:
masha68 [24]3 years ago
6 0

Answer:

<u>Generally accepted accounting principles</u>

Explanation:

Generally accepted accounting principles abbreviated as GAAPs , refer to set of accounting rules and principles to ensure clarity, consistency of reported information and to enhance reliability and comparability of accounting information.

GAAPs were prescribed by Financial Accounting Standard Board (FASB) of the United States. The accountants of public companies in United States are supposed to abide by GAAP principles while compiling accounts and preparing financial statements.

Thus, GAAPs lay emphasis upon presenting financial information which is relevant to the shareholders, which is true and can be relied upon , which is consistent and which can be compared to deduce past trends and for forming opinions and arriving at conclusions.

You might be interested in
What is the relationship between financial system and economy
pentagon [3]

Answer:

Financial markets help to efficiently direct the flow of savings and investment in the economy in ways that facilitate the accumulation of capital and the production of goods and services.

3 0
2 years ago
Read 2 more answers
Americans have come a long way in reducing their overt prejudice among groups such as Hispanics, whites, blacks, Jews, and Asian
Lesechka [4]

Answer:

B.

Explanation:

Based on the information provided it can be said that people are still uncomfortable with other ethnic groups marrying into their families and living in their neighborhoods. This form of segregation still exists today in the United States of America, and mostly seems to be so because many groups prefer to live and share their space with only people from their same culture and background.

7 0
3 years ago
If the dollar contribution margin per unit is increased by 8%, total fixed expenses is decreased by 18%, and all other factors r
satela [25.4K]

Answer:

Increase

Explanation:

Since the Contribution increased and Fixed Costs have decreased, the resulting effect is an Increase in Net Operating Income. Thus, all other factors remain the same, net operating income will: Increase

8 0
3 years ago
Keith Inc. has 4 product lines: sour cream, ice cream, yogurt, and butter. Demand of individual products is not affected by chan
aleksley [76]

There will be decrease in profit if dropping of sour cream. So that means Keith Inc would lose $4,000.00

3 0
3 years ago
Read 2 more answers
These were kane's only temporary differences. in kane's 2021 income statement, the deferred portion of its provision for income
fomenos

These were Kane's best brief variations. in Kane's 2021 income statement, the deferred portion of its provision for earnings taxes must be $a hundred thirty-five,600.

An income tax is an instantaneous tax that a central authority levy on the income of its residents. The earnings Tax Act, 1961, mandates that the significant government acquire this tax. The authorities can change the income slabs and tax charges every year in its Union finances. income does now not best imply cash earned in the form of earnings.

Any Indian citizen elderly beneath 60 years is prone to pay earnings tax if their earnings exceed 2.5 lakhs. If the person is above 60 years of age and earns greater than Rs. three lakhs, they'll pay taxes to the authorities of India.

Income taxes are a source of revenue for governments. they're used to fund public services, pay authorities' responsibilities, and provide goods for residents.

Learn more about Income taxes here:

brainly.com/question/26316390

#SPJ4

5 0
1 year ago
Other questions:
  • On September 1, 2021, Gold Gaming sold 400 one-year subscriptions to its online gaming website for $90 each. The total amount re
    12·1 answer
  • Reynolds Construction's value of operations is $750 million based on the free cash flow valuation model. Its balance sheet shows
    7·1 answer
  • Clarifying the issues of a problem is the _____ step in the problem solving process. first, second, sixth, or seventh
    14·2 answers
  • Coercive Acts Committees of Correspondence direct tax Indirect tax A. colonial extralegal shadow governments that convened to co
    13·1 answer
  • High and unexpected inflation has a greater cost. True or False
    15·1 answer
  • profit maximization pricing objective a. is a status quo oriented pricing objective. b. is a sales-oriented pricing objective. c
    12·1 answer
  • Suppose the seventh carrot you consume provides a marginal utility of 3 utils and the eighth carrot provides a marginal utility
    5·1 answer
  • Starbucks just released study Starbucks coffee increases your life span what is the change in demand or quantity demand
    13·1 answer
  • A profit maximizing monopoly's price is
    7·1 answer
  • Sifa Company is selling for Shs60.00 per share today. In one year, Sifa Company will be selling for Shs58.00 per share, and the
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!