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Zanzabum
3 years ago
10

The primary purpose of managerial accounting is to prepare financial statements in accordance with a reporting framework (e.g. G

AAP). True or false?
Business
1 answer:
Contact [7]3 years ago
3 0

Answer:

False.

Explanation:

There is no specific rule for managerial accounting like GAAP. GAAP is the accounting principles set for financial accounting and not managerial accounting. The main and primary purpose of managerial accounting is to help the managers of an organization to analyze the exact cost that is incurred in the production of sale-able goods and services. This accounting is done completely as per the convenience and discretion of the managers of a company and not by any specified rules and norms.

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Teri, Doug, and Brian are partners with capital balances of $20,000, $30,000, and $50,000, respectively. They share income and l
mixer [17]

Answer:

$20,000

Explanation:

For computing the Doug withdrawal amount, first, we have to compute the net income or net loss which is shown below:

Net income/loss = Revenue - expense

                           = $350,000 - $380,000

                            = -$30,000

Now Doug share in net loss = Net loss × (his share ÷ total share)

                                               =  - $30,000 × (2 ÷ 6)

                                               =  - $10,000

We knew that the Doug capital is $30,000 and his share in loss is $10,000

So, its withdrawal amount = $30,000 - $10,000 = $20,000

                   

7 0
3 years ago
Ty has 3 brother how much brothers does he have
Mnenie [13.5K]
Ty has 2 brothers excluding him
5 0
3 years ago
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Which one of the following would not cause a bank to debit a depositor's account? a.Checks marked NSF b.Wiring of the depositor'
Monica [59]

Answer: Interest earned by the account.

Explanation: When a bank debits an account money is been removed from the account. This can either be as a result of: the account owner withdrawing from the account, a cheque paid to another person, bank service charges.

While when a bank credits an account money is added to the account. It can occur as a result of : money paid into an account, bank interest paid on accounts.

Therefore interest earned on an account is credited to the account holder.

7 0
3 years ago
g The international Fisher effect: Group of answer choices is an example of absolute PPP focuses on changes over time in the rel
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The international Fisher effect is the difference in nominal interest rates across countries reflecting the difference in expected rates of inflation in those countries.

<h3>What does the Fisher effect show?</h3>

It shows that the nominal rate of interest in a nation usually follows the inflation rate because an inflation-adjusted rate needs to be formed.

This then leads to a change in exchange rates between countries because the difference in nominal rates shows the difference in inflation which is what devalues or appreciates a currency.

Find out more on the fisher effect at brainly.com/question/16036767.

#SPJ1

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2 years ago
In a​ make-to-order system, when a customer places a request for a product or service with a​ producer,
Mashutka [201]
<span>A work order is created as soon as the customer places the request for a product or service. Since the manufacturing or the creation of the item begins only after order is made, all the resources and the raw materials should be in place well before time.</span>
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