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NeTakaya
3 years ago
13

Throughout the entire semester, you were trained to relate expenses to the revenues generated in the same accounting period. Dif

ferently put, the Income Statement must show the revenues and relevant expenses that took place in the same period. Which principle is related to this practice
Business
1 answer:
konstantin123 [22]3 years ago
8 0

Answer:

matching principle

Explanation:

In this scenario, the principle related to this practice is known as the matching principle. In accrual accounting, this states that revenues should be recorded during the period in which they are earned, regardless of when the transfer of cash occurs. Meaning that if a company earns $5,000 in product sales in August but receives a $1000 commission for those products in September, the commission needs to be reported on the August statement alongside the sales.

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how can you guarantee that your talk or speech will be interesting to your audience? Is this good advice? Why or why not? Justif
Rashid [163]
If you want to make sure it's interesting, you have to cater your speech/talk to your target audience. This is good advice. A 15-page detailed Powerpoint presentation with note cards would do as much good when presenting to kindergarteners as a water hose would do good in a flood. But, say, it was a fire, then the water hose might come in handy. In our case, your boss at the business meeting would find your Powerpoint much more interesting than kindergarteners would. 

Hope this helps! Have a nice day :)
7 0
3 years ago
If an increase occurs in the demand for the output of industry A, we would expect all of the following to happen except:A. an in
ruslelena [56]

Answer:

The correct answer is option B.

Explanation:

The total revenue and profits of the industry as the price level  increases with increase in the demand.

When there is an increase in the demand for the output of an industry, that industry will increase the production to match the increase in the demand. The increase in production will cause output level to increase.

In order to produce more output the industry will require more inputs, so the demand for inputs will increase.

An increase in the demand for inputs will be accompanied by increase in their prices.

There will not be any decline in the price of inputs.

3 0
3 years ago
Rocky River Company is a pricetaker and uses target pricing. Refer to the following information:Production volume 602,000​ units
ladessa [460]

Answer:

$30.07

Explanation:

Rocky river company uses target pricing

The production volume is 602,000 units

The market price is $34 per unit

The total assets is $13,900,000

The desired operating income is 17% of the total assets

= 17/100 × 13,900,000

= 0.17×13,900,000

= 2,363,000

The first step is to calculate the sales value

= 602,000 ×34

= 20,468,000

The total cost can be calculated as follows

= Sales value-desired operating income

= 20,468,000-2,363,000

= 18,105,000

Therefore the target full product cost per unit can be calculated as follows

= Total cost/production volume

= 18,105,000/602,000

= $30.07

Hence the full target product cost per unit is $30.07

7 0
3 years ago
Suppose the government in your city imposes a $0.50 excise tax on gasoline. the burden of this tax falls on:_____.
MAXImum [283]

Let's say that gasoline is subject to a $0.50 excise tax in your city. This tax affects both buyers and sellers equally.

Depending on the elasticity of demand and supply, a tax's burden is split between purchasers and sellers. Depending on their alternatives, buyers' and sellers' desire to exit the market is represented by elasticity. The relationship between supply and demand price elasticity and tax incidence is also possible. The tax burden is placed on the purchasers when supply is more elastic than demand. The cost of the tax will be borne by the producers if demand is more elastic than supply.

Learn more about the burden of this tax here.

brainly.com/question/28202762

#SPJ4

4 0
1 year ago
A certain company has purchased new swivel chairs for its employees. The company made the purchase on a credit plan at Buy Right
vlabodo [156]

Answer: $45,862.29

Explanation:

This question relates to the Present value of an Annuity.

The original price would be the present value of the payments and since the payments are constant over a period, they are an annuity

Interest/ r = 2.25/12 months = 0.1875%

Periods/ n = 4 * 12 months = 48 months

= Payment * (( 1 - ( 1 + r) ^ n)/ r)

= 1,000 * (( 1 - ( 1 + 0.1875%)^48) / 0.1875%)

= $45,862.29

7 0
2 years ago
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