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3 years ago

LO 1.2Which of the following statements is incorrect?

Business

1 answer:

Pachacha [2.7K]3 years ago

4 0

Answer: Reports produced using management accounting must follow GAAP.

Explanation: Management report are reports produced by management accountants are prepared for internal use by managers, employees and other officers.

Management reports are produced as at when required and do not necessarily have to follow GAAP.

Management reports include job costs, production cost report, cost of good manufactured report etc.

It gives monetary and non monetary information for management consumption.

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As of December 31, 2015, Juneau Company had total cash of $155,000, notes payable of $85,600, and common stock of $52,400. Durin

Illusion [34]

Answer:

ending RE 30,000

Explanation:

Using the acounting equation we solve for the beginning RE

<em>Assets = liab + equity</em>

155,000 = 85,600 + 52,400 + Retained Earnings

155,000 - 85,600 - 52,400 = <em>17,000</em>

beginning RE 17,000

net income

revenues 36,000 - 20,000 expenses = 16,000

dividends: 3,000

ending RE: 17,000 + 16,000 - 3,000 = 30,000

6 0

3 years ago

The ratio of estrogen to progesterone remains constant throughout pregnancy into labor. false true

kati45 [8]

False, The ratio of estrogen to progesterone does not remains constant throughout pregnancy. Estrogen levels rise and progesterone levels fall in preparation for labor to begin.

<h3>What is Estrogen and progesterone ?</h3>

The two key hormones in a woman's body are progesterone and estrogen. These steroid hormones are in charge of giving the body its unique female traits.

The ovaries are a pair of ova-producing organs that support the health of the female reproductive system by creating egg cells.

The ovaries are an endocrine gland that secretes hormones, notably estrogen and progesterone, that are essential for normal reproductive development and fertility in addition to their function in ova production.

Therefore, it is False that, The ratio of estrogen to progesterone remains constant throughout pregnancy into labor.

Learn more about Estrogen here:

brainly.com/question/28202257

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5 0

1 year ago

During the interview, hiring manager Manuel openly discussed both the negative and positive aspects of the job with the applican

mylen [45]

Answer:

realistic job preview

Explanation:

A realistic job preview serves to show real life situations that candidates may face if they are chosen to cover open positions. This approach can be used to show the important aspects and required skills necessary to perform the job's tasks. As a human resource tool, this approach increases new employees' commitment and actually help to lower churn rate.

3 0

3 years ago

In its first year of operations, Gomes Company recognized $28,000 in service revenue, $6,000 of which was on account and still o

Mademuasel [1]

Answer:

a. The first year's net earnings under the cash basis of accounting is $7,600 and the first year's net earnings under the basis of accounting is $12,200

b. Accrual basis of accounting provides more useful information.

Explanation:

a. In order to calculate the first year's net earnings under the cash basis of accounting we would have to use the following formula:

Cash basis net earnings = Service revenue (Cash) – Cash expenses – Prepaid expenses

Cash basis net earnings =$22,000 – $12,000 – $2,400

Cash basis net earnings =$7,600

In order to calculate the first year's net earnings under the the basis of accounting we would have to use the following formula:

Accrual basis net earnings = Service revenue – Operating expenses incurred

Accrual basis net earnings= $28,000 – $15,800

Accrual basis net earnings=$12,200

b. Accrual basis of accounting provides more useful information, because in this system revenues are recorded what actually earned and expenses are recorded what actually incurred for earning such revenues. Therefore, it gives better profit picture

5 0

3 years ago

In the loanable funds model, an increase in an investment tax credit would create a a. shortage at the former equilibrium intere

Drupady [299]

Answer:

a. shortage at the former equilibrium interest rate. This shortage would lead to a rise in the interest rate.

Explanation:

The equilibrium in the market for loanable funds is achieved when the quantities of loans that borrowers want are the same as the quantity of savings that savers provide. The interest rate adjusts to make these equal.

6 0

3 years ago