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polet [3.4K]
3 years ago
7

Does GAAP routinely require companies to disclosure forecasts of financial variables to external users? Indicate yes or no and e

xplain how your answer relates to the qualitative characteristics of accounting information.
Business
1 answer:
Andrei [34K]3 years ago
4 0

Answer:

No, they don´t.

Explanation:

Forecast is not required by GAAP, as the <u>Relevance</u> and the <u>Faithful</u> <u>Representation</u> are concepts that are not compatible with data projection.  Forecast implies estimates, and subjective interpretations that do not fulfill financial statements aim and are difficult to verify.

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Identify the possible reason or reasons for this stark difference between income inequality and consumption inequality. Intergen
Fudgin [204]

Answer:

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Explanation:

First part of this question reads:

In the United States, the richest quintile of the population receives 13 times as much income as the poorest quintile. However, the richest quintile only spends 4 times as much as the poorest quintile.

The richest quantile can afford to save more than the poorest quantile because they get enough income to manage their daily needs and then save. The poorest quantile on the other hand face a daily struggle and so have to spend all or most of their income to survive.

When the richer quantile goes through temporary fluctuations, they maintain moderate spending because they know it is temporary and so they keep saving. This is not the case for the poorer quantiles who have to spend according to their income - regardless of its fluctuating - to survive.

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3 years ago
When people have more money and eagerly spend it, this increases
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Answer:

More money and enganment to whoever they're purchasing from.

Explanation:

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