The given statement can be marked as true because the expense recognition principle requires an estimated expense be reported in the same period as the related credit sale rather than later when the customer is identified.
<h3>What is the GAAP?</h3>
GAAP refers to the Generally Accepted Accounting Principles, which is a set of collection of rules and procedures for financial reporting.
The purpose of GAAP is to create a consistent and comparable method of accounting which ensures that a company's financial records are complete and homogeneous.
It also gives a complete picture of the company's financial position.
Learn more about the GAAP here:-
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Answer: the other components that can be used include risk assessment, quality assurance check, strategic security frameworks and mode of governance.
Explanation:
Security management is simply a process that involve identification of an organisation's assets including the employees, customers, machines, Information assets followed by means to protect these assets. Organizations use these security management procedures and implementation to check risk, quality and threats.
Security manager should be a manager with the following attributes ;
- to implement a decent security/plan
- to lead actively
- to organise and control security function.
-to implement a good quality assurance check.
When an insured stops making the payments on the loan taken his cash value policy will terminate when the loan amount with interest equals or exceeds the cash value
Explanation:
Cash value policy are the type of saving policy and they provide the life time coverage of the policy holders most cash values have high premiums than the insurance
It requires a fixed level premium payment and the from that amount the money is allocated for different reasons according to the wish of the policy holder and the remaining amount is deposited as the cash value amount
To ensure that her company is being socially responsible, Vivian should ensure that the cars are environmentally friendly. Being socially responsible means you do what is best for planet, people, and profits. In this case, taking care of the planet means choosing the car that is the most environmentally friendly.
Answer:
B 30 percent
Explanation:
Initial cost of production = (2×$10) + (5×$4) + (8×$3) = $20+$20+$24 = $64
New cost of production = (2×$10) + (5×$8) + (8×$3) = $20+$40+$24 = $84
% rise in cost of production = (new cost - initial cost)/initial cost × 100 = (84 - 64)/64 ×100 = 20/64 × 100 = about 30%
