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4 years ago

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

Business

1 answer:

geniusboy [140]4 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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4 years ago

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3 years ago

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2

Whitepunk [10]

Answer:

Predetermined manufacturing overhead rate= $1.2 per direct labor dollar

Explanation:

Giving the following information:

Company estimates total manufacturing overhead costs of $882,000 and, direct labor costs of $735,000

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3 years ago

Would it be more profitable to own 200 shares of pennys pickles or 1 share from exxon?

Sauron [17]

Answer :

Exxon

Explanation :

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3 years ago

Read 2 more answers