1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sauron [17]
4 years ago
9

"What is the main reason that it is necessary for public companies to follow the rules and format set out in the Generally Accep

ted Accounting Principles​ (GAAP) when creating financial​ statements?"
Business
1 answer:
Talja [164]4 years ago
5 0

Answer:

Unlike private companies or small businesses, publicly listed companies make a significant impact on the economy and the financial markets in general.

Moreover, both foreign and local investors are interested and invest in these companies.

Because of their significance, there should be the ability of comparability of these companies and their financials must be reliable and accurate.

Explanation:

You might be interested in
A salesperson should focus his or her sales resources on only one individual in the buying organization.​
madam [21]

A salesperson should focus his or her sales resources on only one individual in the buying organization.

The statement is false.

Top 5 skills for a career in sales:

  • Confidence - maintaining a positive mind-set.
  • Resilience - communicating with conviction.
  • Active listening - expertise in the customers' desires.
  • Rapport building - promoting your personality.
  • Entrepreneurial spirit - chronic self-development.

The essential duty of a salesperson is selling. This responsibility consists of assembling the prospects, offering and demonstrating the goods, inducing the prospects to shop for, taking orders, and effecting income. a salesman needs to manual the customers in buying the products they want.

<em>Your question is incomplete. Please read below to find the missing content.</em>

A salesperson should focus his or her sales resources on only one individual in the buying organization.

True

False

Learn more about salesperson here: brainly.com/question/25743891

#SPJ4

3 0
2 years ago
Wims, inc., has current assets of $5,000, net fixed assets of $23,000, current liabilities of $3,500, and long-term debt of $7,9
lutik1710 [3]

Answer:

a. The value of shareholder's equity account for this firm is $16,600.

b. The net working capital for Wims Inc. is $1,500.

a. We start off by looking at the Accounting Identity:

Total Assets = Total Liabilities + Shareholders' Equity

Since

Total Assets = Current Assets + Net Fixed Assets

and

Total Liabilities = Current Liabilities + Long-term debt

We can rewrite this accounting identity as follows:

Current Assets + Net Fixed Assets = Current Liabilities + Long-term debt + Shareholders' Equity ----- (1)

Plugging in the values from the question in (1) above we get,

5000 +23000 = 3500 + 7900 + Share holders' equity

28000 = 11400 + Share holders' equity

28000 - 11400 = Share holders' equity

Share holders' equity = $16,600

b. The formula for Net Working Capital is:

Net Working Capital = Current Assets - Current Liabilities

Net Working Capital = 5000 - 3500

Net Working Capital = $1500

3 0
3 years ago
Katlin Markets is debating between a levered and an unlevered capital structure. The all-equity capital structure would consist
Brilliant_brown [7]

Answer:

Explanation:

given data

all equity capital structure = 75,000 shares

debt and equity = 40,000 shares

debt = $320,000

interest rate = 6.25 percent

to find out

break even level of earnings before interest and taxes ( EBIT )

solution

first we get interest that is

interest = $320,000 × 6.25 %

interest = $20000

so now we can say that break even level of earnings before interest and taxes between these 2 is express as

\frac{EBIT}{75000} = \frac{EBIT-20000}{40000}

solve it we get

EBIT = $42857.14

so correct option is e. $42,857.14

8 0
3 years ago
If a production possibility curve representing a tradeoff between a grade in English and a grade in math has a negative slope we
Ipatiy [6.2K]

Answer:

D

Explanation:

The negative slope of production possibilities frontiers reflects opportunity costs.

8 0
3 years ago
Justin works at a top accounting firm in Los Angeles, and his responsibilities include developing individual and departmental go
lys-0071 [83]

Justin works at a top accounting firm in Los Angeles, and his responsibilities include developing individual and departmental goals and generating financial analysis across departments and the enterprise as a whole for the executive team to review. Justin's duties provide value- added to his company and would be categorized as occurring at the different Information levels.

<h3><u>Explanation:</u></h3>

The levels at which the information in an organisation is used refers to the information levels. Information can be used in tactical, strategic and at operational level. The level of information and the level of the importance that is given to the employees of an organisation and it groups are directly related with each other.

The strategic level information are related to the strategies, goals of the organisation. Tactical information relates to the information related to the achievement of the short term goals and also important in achieving the profitability of an organisation. In the example, duties of Justin provides value-added to the company he works and would be categorized as occurring at the different Information levels.

7 0
4 years ago
Other questions:
  • Kevin has just finished paying off his loan. He was assessed a service charge of $422. He paid off the principal and the interes
    13·2 answers
  • On January 1st, Great Designs Company had a debit balance of $1,450 in the Office Supplies account. During the month, Great Desi
    13·1 answer
  • In a job interview, amanda tells the hiring manager that she is eager to learn and passionate about the work the company does. w
    10·1 answer
  • You are a lawyer representing a client who lost their $1 million home in a house fire. They are suing the home’s architect as de
    5·1 answer
  • A number of political leaders have expressed concern about the nation's decline as a major steel producer. Many have advocated p
    12·1 answer
  • Assume the market for cell phones is an oligopoly. Further assume that cell phone consumption and production generate no negativ
    5·1 answer
  • Ben sells stock (adjusted basis of $25,000) to his son, Ray, for its fair market value of $15,000. Ray sells the stock to his ne
    8·1 answer
  • Exchange of Stock for Asset On July 14, Peterman Corporation exchanged 1,000 shares of its $8 par value common stock for a plot
    5·1 answer
  • What is Meant by shares of a Company..!!??​
    10·2 answers
  • The Pirates of Penzance Company delivers goods to various areas around the world. The company has a great reputation for being p
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!