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tresset_1 [31]
4 years ago
7

The organization that is primarily responsible for developing GAAP for use by all U.S. companies is the:

Business
1 answer:
victus00 [196]4 years ago
4 0

Answer:

C. FASB

Explanation:

The FASB refers to the Financial Accounting Standards Board that is an independent non profit organization who is responsible for developing accounting and finance related standards for reporting with respect to companies and non profit organization in the United states that followed GAAP

So as per the given situation, the option C is correct

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In 2018, it was discovered that Jenson Technologies had debited an expense account for the $400,000 cost a computer purchased on
satela [25.4K]

Answer:

Explanation:

journal entry will Jenson use to correct the error

Date       Account Titles And Explanation          Debit           Credit

                                     Computer                                $400,000  

              Accumulated depreciation ($100,000 × 2 years)     $200,000

       Retained earnings ($400,000 - $200,000)                       $200,000

Annual depreciation = (Cost - Salvage Value) / 4

                               = ($400,000 - 0) / 4

                               = $100,000

6 0
3 years ago
How are strikes damaging to workers and companies?
nataly862011 [7]
During strikes, Worker do not get paid and can't earn money, causing them having a hard time to afford a living until strike is over.
Companies will have bad business
8 0
3 years ago
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Few people will use your business’ Internet site to purchase products if they feel it is ______.
Pie
The correct answer is A. Not secure.
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3 years ago
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Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3 years. She will have enough t
Sergio [31]

Answer:

The answer is "She saves \$7804 on the trip".

Explanation:

Please find the complete question in the attached file.

Given:

(P) =\$2500\\\\(n) =3 \ years\\\\(r) = 4\%\\\\ \text{compounding period in year}\ (m) =1\\

The formula for Effective annual rate = ((1+(\frac{r}{m}))^m)-1

                                                                 =((1+(\frac{4\%}{1}))^1)-1\\\\=((1+(\frac{4}{100}))^1)-1\\\\=((1+0.04)^1)-1\\\\=((1.04)^1)-1\\\\ =1.04-1\\\\ =0.04 \\\\ = 4\%\\\\

Its potential value of its rental formula is used to measure the value of the rental at the middle of the 3rd year

 The formula for the future annuity = P\times \frac{(((1+i)^n)-1)}{i}

                                                         =2500\times \frac{(((1+0.04)^3)-1)}{0.04}\\\\=2500\times \frac{(((1.04)^3)-1)}{0.04}\\\\=2500\times \frac{(1.124864-1)}{0.04}\\\\=2500\times \frac{0.124864}{0.04}\\\\=2500\times 3.1216\\\\=7804  

5 0
3 years ago
Beatrice is a Keynesian economic theorist. Accordingly, which of the following actions would Beatrice consider to be most expans
zhuklara [117]

Answer:

D. a $10 billion increase in government spending and a $5 billion decrease in taxes

Explanation:

Keynesian economy is a macroeconomic theory based on the views of the 20th century British economist John Maynard Keynes. The Keynes economy advocates a mixed economy in which the private sector is dominant but the state and public sector play a big role. According to the Keynesian economy, decisions made by the private sector sometimes cause inefficient macroeconomic results. For this reason, the state should play an active role and stabilize the business cycle. For example, monetary policies through the central bank and fiscal policies through the government should be implemented.

According to Keynesian theory, the sum of some micro-economic behaviors exhibited by all individuals and businesses results in inefficiency and the economy operates at a level below its potential output and growth. When the total demand for products is insufficient, the economy goes into a crisis and unnecessary unemployment occurs due to the defensive behavior of the manufacturers. In such cases, the government may follow some policies to increase aggregate demand and consequently speed up economic activities and reduce unemployment. Most Keynesian people propose policies to stabilize the business cycle. For example, when the unemployment level rises too high, the state may follow a growth-oriented monetary policy.

Keynes considered the revival of the economy with low interest rates or taxes and increase in state investments or government spending as a solution to the Great Depression. It increases investment income and consequently consumption by the state, as a result of which more production and investment are provided, and as a result, consumption increases again. The first economic stimulus investment triggers a sequence of events and provides a much more stringent economic efficiency than the subsequent investment. Some Keynesian economists have particularly emphasized the importance Keynes gives to international coordination, the necessity of international economic institutions, and how economic forces can lead to war or peace.

6 0
3 years ago
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