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expensing the cost of copy paper when the paper is acquired is an example materiality. industry practices. conservatism. expense

sergejj [24]

Expensing the cost of copy paper when the paper is acquired is an example of .Cost constraint.

<h3>What is Cost constraint?</h3>

A cost constraint in accounting occurs when it is excessively expensive to report specific information in the financial statements. The applicable accounting standards permit a reporting entity to forego the associated reporting where doing so would be prohibitively expensive. The purpose of enabling the cost constraint is to prevent firms from paying excessive expenditures to fulfill their financial reporting duties, especially when compared to the benefit received by readers of the financial statements.

Only certain requirements for financial reporting that are mentioned in the accounting standards are subject to the cost limitation. In all other instances, regardless of the underlying cost, financial information must be reported.

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4 0

1 year ago

Which theme can be found in both "If" and The Jungle Book by Rudyard Kipling?

Mkey [24]

Answer:

The correct answer is D. learning to stand alone is part of growing up.

Explanation:

5 0

3 years ago

Read 2 more answers

Fairfax Pizza borrowed 745,000 dollars to build a new restaurant for 745,000 dollars. The decision to spend 745,000 dollars on t

EastWind [94]

Answer:

Financing decision

Explanation:

Financing decision is concerned with borrowing and allocating funds for investments.

As such, the decision to borrowed 745,000 dollars and use the fund to build a new restaurant for 745,000 dollars is a financing decision.

Capital Budgeting decision-making process involves plans around any long term capital expenditures whose returns (cash inflows and outflow) are expected to be earned in more than a year.

8 0

3 years ago

Most audience members expect your presentation to include

Elan Coil [88]

Answer: Preview-view-review strategy.

Explanation: The preview-view-review strategy is used in many different learning environments. This process allows the presenter or teacher to preview the information that will be covered, go over the information being discussed and then review it as a conclusion at the end. By previewing the information, the audience is able to understand what topics will be covered, then learn about them in the view stage and have a summary of the information covered in the review.

6 0

3 years ago

Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a s

olasank [31]

Answer:

A. $10.75

B. May $6,288.75

June $4,407.5

Explanation:

A . Calculation to Determine Shadee's budgeted manufacturing cost per visor.

Budgeted direct Material $4.00

Direct labor $3.6

(0.30*$12)

ariable manufacturing overhead is $1.25

Fixed overhead per unit is $1.90

Budgeted manufacturing cost per visor $10.75

Therefore Shadee's budgeted manufacturing cost per visor is $10.75

B. Computation for Shadee's budgeted cost of goods sold for May and June.

May June

Expected sales units 585 410

Minimum cost per unit $10.75 $10.75

Budgeted cost of goods sold for May and June

$6,288.75 $4,407.5

May (585*$10.75=$6,288.75)

June(410*$10.75=$4,407.5)

Therefore the budgeted cost of goods sold for May is $6,288.75 and June is $4,407.5.

3 0

2 years ago