Like cars, bikes, airplanes, trains, public transport?
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.
Answer:
Dr Cash $825
Cr Sales Returns and Allowances $800
Cr Sales Discounts $25
Explanation:
Preparation of the journal entry that Concord Company make upon receipt of the check
Dr Cash $825
($800+$25)
Cr Sales Returns and Allowances $800
Cr Sales Discounts $25
(To record receipt of the check)
Sales discount=(Sales Price -Sales return) × 1%
Sales discount=($3300 - $800) × 1% = $25
Answer:
about 80% of world trade
Explanation:
The G20 consists of 19 individual countries and the European Union. If trade within the EU is included, the members account for about 80% of world trade. If trade within the EU is excluded, the members account for about 75% of world trade.
