Answer:
True.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).
Thus, it is a field of accounting involving specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time. Financial experts or accountant uses either the cash basis or accrual basis of accounting.
An account can be defined as a formal and individual record of the financial transactions of a person, business firm, goods, assets, liability, etc.
All the transactions with respect to a particular item such as income, expenses, assets, liability, etc., are recorded in its account.
In general, accounts are split or divided into two main categories and these includes;
I. Personal Accounts
II. Impersonal Accounts.
Answer:
A. $10,500
Explanation:
FV of IDNA:
Book value $ 15,000
Revalued plant assets ($25,000)
license agreements
$30,000
Intangible assets $50,000
$ 70,000
Non-controlling interest valued at the date of acquisition, following the alternative method allowed by IFRS = 15% * 70,000 = $10,500.
Answer: $24,747.92
Based on the given amounts of increased in savings for the first 3 months, we have the following assumptions:
1) That the savings increase by 2.44% monthly
$18,962.50 -18,500=462.50, 462.50/18962*100=2.44%
$19,436.56--$18,962.50=$474.06, 474.06/19,436.56*100=2.44%
$19,922.48-$19,436.56=485.92, 485.92/19,922.48*100=2.44%
2) That the monthly interest for the first 3 months had an incremental of $0.30 monthly
462.50,474.06 and 485.92 has an incremental of 11.56 and 11.86 (with a difference of .30)
Continuing on with the increments gives savings of $24,747.92 in the 12th month.
Answer:
Price elasticity of demand = 2.6
Explanation:
Given:
Old price (P0) = $70
New price (P1) = $60
Old sales (Q0) = 10,000 units
New sales (Q1) = 15,000 units
Computation of Price elasticity of demand(e):
Midpoint method
By putting the value:
e = 2.6
