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
Alex
3 years ago
12

Although a business has had record sales it is having a hard time paying the bills each month. As a manager you are uncertain wh

y this is occurring and ask the financial accountant to explain this situation to you. When the accountant comes to your office they will bring which of the following financial statements as supporting documentation?
Business
1 answer:
Svetradugi [14.3K]3 years ago
3 0

Answer:

Income statements and or Cash flow statements.

Explanation:

Income statement and Cash flow statements are required.

Income Statement will give us insight about our costs as we maybe recording sales but if the costs and expenses are too high we are unlikely to be making enough gross profits to be able to pay bills.

Cash flow statements are required as sales may be credit and thus reducing working capital for the company, although they may be making profits but if the debts are uncollected they are unlikely to have cash available to be able to make payments.

Hope that helps.

You might be interested in
Technique Co. has equipment with a carrying amount of $1,600,000. The expected future net cash flows from the equipment are $1,6
Vesnalui [34]

Answer:

correct option is a. No impairment should be reported

Explanation:

given data

carrying amount = $1,600,000

net cash flows = $1,630,000

fair value = $1,360,000

to find out

amount report as an impairment to its equipment

solution

we know that here impairment loss is carrying amount - higher of fair market value and value in use    ..................1

here recoverable value is = $1630000

so

impairment loss is = $1600000 - $1630000

impairment loss  = - $30000

here loss is negative

so that correct option is a. No impairment should be reported

6 0
3 years ago
If a bank is offering a higher interest rate of return to investors, the MOST LIKELY impact on borrowers from the same bank is
never [62]
The answer is D. An increased interest rate. The bank will increase the interest rates on loans to get a return on their expences.
7 0
3 years ago
Read 2 more answers
If a price ceiling is set above the equilibrium price in a market rev:a. rationing will be necessary. b. surpluses of the commod
olga_2 [115]

Answer:

b. surpluses of the commodity will develop

Explanation:

A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.

If price ceiling is set above equilibrium price, suppliers would increase supply while consumers would reduce demand. This would lead to an excess supply and surplus in the economy.

When price ceiling is set above equilibrium price, it is known as a non binding price ceiling.

I hope my answer helps you

4 0
3 years ago
Fax machines, voice mail, electronic mail, and electronic conferencing are all examples of
snow_tiger [21]
They are forms of Communication.
5 0
3 years ago
Technological advances are difficult to predict. One great advance can replace or substitute for existing products in a relative
deff fn [24]

Answer:

The answer is: 3) Printed media

Explanation:

This is already happening, cell phones and tablets have already replaced digital cameras, Netflix is replacing cable TV and sooner than later cell phones and tablets will replace printed media completely.

Ask yourself, when was the last time you bought a newspaper? I haven´t bought a newspaper in years but I can also guarantee that I read more news outlets today that ever before. I can read the New York Times, The Washington Post, Sports Illustrated, etc. all on my cellphone. Using my phone is cheaper and faster (and also more ecological) than buying a printed version. In a few years probably no newspaper will have a printed edition, not even magazines will be printed anymore.

5 0
3 years ago
Other questions:
  • The development of a nationwide computerized job bank listing of all job openings would be most likely to reduce:
    5·1 answer
  • In the event of an incident or disaster, which planning element is used to guide off-site operations?
    13·1 answer
  • A strategic plan is a carefully crafted set of steps that a firm intends to follow in order to be successful. The business model
    12·1 answer
  • Besides not being required, why do you think a company would choose to report or not report a gross profit line? Why do you thin
    6·1 answer
  • A chemical bathroom cleaner has an ingredient X that allows the cleaner to lather well and remove stains. The cost of producing
    5·1 answer
  • Jing is considering starting a new business selling organic groceries. It would cost her $350,000 a year to rent store space and
    14·1 answer
  • For an extra level of security, some smart cards today store ____ data in the card and use that data to authenticate the card's
    15·2 answers
  • The workload approach accounts for all of the following EXCEPT ________. A. customer account status B. success rate at closing o
    10·2 answers
  • During the month of August, Ranson Productions applied overhead to jobs using an overhead rate of $0.60 per dollar of direct lab
    9·1 answer
  • Sheffield Corporation makes a mechanical stuffed alligator that sings the Martian national anthem. The following information is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!