Hariette should choose cash basis of accounting when she runs the profit and loss report. A company's reporting guidelines and practices for revenues and expenses make up its accounting method. Cash accounting and accrual accounting are the two primary accounting techniques.
Revenues and costs are recorded in cash accounting when they are received and paid. There are three different accounting methods: modified cash basis, cash basis, and accrual basis. Let's briefly review the fundamentals before we discuss which types of firms use certain accounting techniques.
If you only consider popularity, accrual accounting comes out on top since it is both the most popular and the most accurate techniques.
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Answer:
Total FV= $7,313.7
Explanation:
Giving the following information:
Year Cash Flow 1 $ 1,040 2 1,270 3 1,490 4 2,230
Discount rate= 9% = 0.09
<u>To calculate the future value, we need to use the following formula on each cash flow</u>:
FV= Cf*(1+i)^n
FV1= 1,040*(1.09^4)= 1,468.04
FV2= 1,270*(1.09^3)= 1.644.69
FV3= 1,490*(1.09^2)= 1,770.27
FV4= 2,230*1.09= 2,430.7
Total FV= $7,313.7
Answer:
"4,000" is the appropriate option.
Explanation:
Given:
Real interest rate,
= 6%
Inflation rate,
= 2%
Annual deposit,
= $20,000
Now,
The nominal interest rate will be:
= 
= 
= 
(%)
As per the annual deposit, I was making,
= 
= 
Inflation rate rise 3% i.e.,
= 
= 
(%)
Just to earn 1200, I have to:
= 
= 
Thus the above is the appropriate answer.
Answer:
b. Those who have a reasonable understanding of business and economic activities
Explanation:
Financial statements by an entity should be prepared in such a way so as to enhance their understandability aspect and help in better comprehension and interpretation of financial information by the users.
The above objective can be met by providing detailed disclosures and appropriate notes to accounts as required by laws and statues i.e financial reporting framework.
Understandability refers to the fact that those individuals who have limited financial knowledge should be able to comprehend the presented information as intended and should be able to draw out reasonable conclusions from their understanding of the same.
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Subtract sides 5
Divide sides by 3
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<em>Remi</em><em>nder</em><em> </em><em>:</em><em> </em>
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Thus ;
Done...
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