Answer:
The correct answer is Congruence.
Explanation:
Any company that makes its financial statements available to the public will conform to GAAP standards. The congruence principle is one of the fundamental lines established by the Financial Accounting Standards Board (FASB) This process is different from the cash accounting principles that the total amount of income or expenses is recorded regardless of when They have an impact on the cash flow of the company. The GAAP congruence principle helps to provide a clear and accurate picture of cash on hand, the revenue generated and expenses incurred at a specific point in time (see Resources below).
In order to minimize errors and provide accurate account information during the accounting period, companies can recognize expenses and revenues that occur within a time-giving period. The GAAP congruence principle recognizes expenses when they are incurred, and when it distinguishes between deferred income and accrued expenses in order to determine its real value of the company at a given time.
Answer:
A decrease in both the market equilibrium price and the market equilibrium quantity of autos sold.
Explanation:
A fall in the demand for automobiles would shift the demand curve to the left.
As a result of the leftward shift, both equilibrium price and quantity would fall.
I hope my answer helps you
Trade company accepted a credit card with a fee for services rendered. this event affects trade company's<u> </u><u>income</u><u> statement, statement of changes in stockholders equity, </u><u>balance </u><u>sheet.</u>
<h3>Income statement</h3>
The event tend to affect income statement because both service revenue as well as credit card expense appear on the income statement.
The event tend to affect statement of changes in stockholders equity because net income is affected by the income and expenditure and it will affect balance sheet because accounts receivable appears on the balance sheet.
Therefore Trade company accepted a credit card with a fee for services rendered. this event affects trade company's<u> </u><u>income</u><u> statement, statement of changes in stockholders equity, </u><u>balance </u><u>sheet.</u>
Learn more about income statement here:brainly.com/question/24498019
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Answer:
June 1
DR Cash <u>$16,200</u>
CR Common Stock <u>$16,200</u>
<em>(To record issuance of Common Stock)</em>
<u>Workings</u>
Cash
= 2,700 shares * $6 price
= $16,200
Answer:
increases
higher
more
lower
lower
Explanation:
If the money supply is increased. individuals would have more money and consumption would increase. Increase in consumption would lead to a rise in demand.
when demand exceeds supply, prices rise,
When there is a rise in price, it encourages producers to increase production in order to increase their profit margin.
In order to expand production, more factors of production would be needed. So, more labour would be hired. thus, unemployment would fall.
it can be seen that higher inflation lowers unemployment
