Sales is NOT one of the five basic functions of an accounting department
<h3>What is accounting department?</h3>
The accounting department is responsible for recording and reporting the cash flows, both in and out, of a company. It is part of the corporate overhead group of an organization.
An accounting department provides accounting services and manages the finances of a company.
There are five basic roles or functions within the accounting department:
Therefore, sales is not one of the basic functions of an accounting department.
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Answer: Federal income tax equal to that withheld from employees.
Explanation:
Federal Income Tax equal is a withholding Tax that the employer takes from an Employee's salary and pays it directly to the Government in form of income taxes.
It will therefore count towards the Income Taxes that the person is to pay during the year.
This is an Employee Payroll Tax because it comes from the Employees's salary.
Answer:
A reduction of $12,500 in net operating income
Explanation:
The net operating income/loss is the difference between the sales and the total costs.
The change in the company's net operating income is the net of the increased commission and the total decrease in salaries. The commission is a variable cost that is dependent on the total number of units sold.
Hence the overall effect on the company's monthly net operating income of this change
= $46,000 - ($9 * 6500)
= ($12,500)
Answer:
The answer is: B) A labor economist notices that unemployment tends to be higher among teenagers than more experienced workers, develops a model, and gathers data to test the hypotheses in the model.
Explanation:
Economic model: simplified description of reality, where hypotheses about economic behavior are tested. Economic models are subjective (they are influenced by the scientist's personal judgement), since there are no objective measures (e.g. the combination of A + B will always be Z) in economic outcomes. Economic models are divided into two broad classifications: theoretical and empirical.
Answer:
3,700 unfavorable.
Explanation:
std quantity 5100 units
actual quantity 5150 units
std cost $74.00
difference -50.00 units at $74
efficiency variance $(3,700.00)
The diference between standard and actual units is negative, the variance is unfavorable.