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3 years ago

______________separates financial information into time periods for reporting purposes. (select an option)

Business

1 answer:

geniusboy [140]3 years ago

3 0

Answer:

a. Periodicity assumption

Explanation:

There are various assumptions and principles out of which few are given below:

1. Periodicity assumption: According to this, the business activities are divided on the monthly, quarterly, half yearly, yearly financial statements

2. Monetary unit assumption: According to this, the business transactions should be expressed in term of monetary units.

3. Economic entity assumption: According to this, the business activities or record keeping should be separate from its owners, shareholders, etc.

4. Going concern assumption: According to this, the business should be run for the longer time or forever. It will keep the business in running and there is no intention to closed or liquidate it.

In the given situation, the most appropriate option is a.

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The following data have been provided by Letze Corporation from its activity-based costing accounting system: Factory supervisio

Alex Ar [27]

Answer:

Letze Corporation

Overhead allocation to Batch Set-Up:

Factory supervision = 55% of $460,000 = $253,000

Indirect factory labor = 60% of $220,000 132,000

Total overhead assigned $385,000

Explanation:

a) Data and Calculations:

Factory supervision $ 460,000

Indirect factory labor $ 220,000

Distribution of Resource Consumption across Activity Cost Pools:

Activity Cost Pools

Batch Set-Up Expediting Other Total

Factory supervision 55% 35% 10% 100%

Indirect factory labor 60% 20% 20% 100%

b) Letze Corporation can use Activity-Based Costing as a system of cost accumulation and allocation based on activity cost pools so that overhead costs are assigned based on the level of activity which each cost pool generates. It tries to tie costs to the activities that generate them.

3 0

3 years ago

David Ricardo, a nineteenth-century economist, wrote, "The price of corn is high not because a rentis paid, but a rent is paid b

pishuonlain [190]

Answer:

The correct answer is the option 3: if the price of corn rises because of increased demand for corn, land rents will rise to absorb most of the extra revenue received by tenant corn farmers.

Explanation:

To begin with, in David Ricardo's statment it is established that ''the rent is paid because the price of the corn is high'' therefore it is understandable that it is stated that the price of the corn is not a cause of the rent but it is the opposite, the price causes the rent due to the fact that the rent is not a cost that has to go within the price but the price goes first and then the rent happens. Therefore that if there it an increase in the population and that causes and increase in the demand of the corn, then the price will rise and consequently the rent will rise to in order to obtain the most of the extra revenue that it can.

6 0

3 years ago

What is the primary characteristic that differentials a zero based budget from a conventional budget. A. A zero based budget doe

Oksana_A [137]

Answer:

B. The zero based budget requires managers to re-justify every planned expenditure every year.

Explanation:

A zero based budget is one that does not take into account historical data when it is considering the present year budget. Each departmental requirement is re-evaluated and a new amount is assigned as budget for the year.

However conventional budgets carryover the previous year's expenses as a base data point. This results in similar budgeting across years.

So the main difference between the two is that zero based budget requires managers to re-justify every planned expenditure every year.

8 0

3 years ago

Trek Company has the following production data for April: units transferred out 40,200, and ending work in process 6,220 units t

Kitty [74]

Answer:

the costs to be assigned to the units transferred out and the units in ending work in process is $562,800 and $49,760 respectively

Explanation:

The computation is shown below:

Cost assign to units transferred out is

= 40,200 units × $4 + 40,200 units × $10

= $160,800 + $402,000

= $562,800

And, the Cost assign to work in progress is

= 6,220 units × $4 + (6,220 units × 0.40) × $10

= $24,880 + $24,880

= $49,760

Hence, the costs to be assigned to the units transferred out and the units in ending work in process is $562,800 and $49,760 respectively

5 0

3 years ago

The corporate IT manager wants you to implement a process that separates corporate apps from personal apps on mobile devices. Wh

GarryVolchara [31]

Answer:

1. Sandboxing

2. Containerization

Explanation:

The function of Sandboxing is to distinguish applications from one another and does not permit them to share the data, user etc

While on the other hand Containerization is a technique that used to separate different data sensitives like a business and personal data kept on the mobile device

Therefore according to the given situation, the option 1 and option 2 is correct

5 0

3 years ago