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Vikki [24]
3 years ago
15

While generally accepted accounting principles do allow flexibility, standards of _________, ________, and ________ must always

prevail in the financial statements. subjectivity; integrity; validation objectivity; integrity; judgement recording; reporting; accounting quality; excellence; and judgement
Business
1 answer:
Stella [2.4K]3 years ago
5 0

Answer:

While generally accepted accounting principles do allow flexibility, standards of _objectivity_, _integrity_, and _judgement_ must always prevail in the financial statements

Explanation:

The concept of objectivity is the concept that an organisation's financial statements are based on solid evidence. The purpose behind this principle is to prohibit an entity's management and accounting department from generating financial statements based on their views and prejudices

Integrity is an important cornerstone of the accounting profession. Integrity requires accountants to be honest, candid and straightforward with the financial information provided by a client. Accountants should use confidential information to limit themselves to personal gain or advantage

professional judgment in deciding whether the content of business transactions differs from its nature, in assessing the appropriateness of disclosure, in determining the likely effect of upcoming events.

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Suppose this monopolist can price discriminate across its customers and sets 2 prices in the market. Let P M represent the stand
Orlov [11]

Answer:

hello your question is incomplete attached below is the missing part

answer: Pd = 1658 , Qd = 42

Explanation:

The monopolist will choose a discount price of ( Pd ) = 1658 and sell 42 units of the good in the discount market

since the standard price is at $1800 and the Qm ( standard monopoly quantity) is at 200 for the Monopoly to be profitable the amount of good to be sold to customers with reservation prices greater than or equal to standard price should be greater than the good offered at discount price and also the discount price after using a coupon should be lower than the standard price (Pm)

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*internal recruitment

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6 0
1 year ago
Sheffield Company discovered the following errors made in January 2022.
Tasya [4]

Answer:

A)

1. Dr Cash 400

    Cr Equipment 400

Dre Wages expense 400

    Cr Cash 400

2. Dr Service revenue 550

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    Cr Equipment 260

Dr Equipment 620

    Cr Accounts payable 620

B)

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3 years ago
A business owner makes 1000 items a day. Each day she spends 8 hours producing those items. If hired, elsewhere she could have e
AveGali [126]

Answer:

c. ​$240,000

Explanation:

Her economic profit is given by her revenue deducted by the explicit costs (I=$150,000) and implicit costs (opportunity cost).

Her monthly revenue is:

R=1,000\ (items/day)*30\ days*\$15/item\\R = \$450,000

Her opportunity cost is:

O = 30\ days* 8\ (hours/day)*\$250/hour\\O=\$60,000

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P = R-I-O\\P=\$450,000-\$150,000-\$60,000\\P=\$240,000

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3 years ago
The following accounts appear in an adjusted trial balance of Bridgewater Consulting. Indicate whether each account would be rep
igomit [66]

Answer:

Explanation:

1. Accounts Payable - Current liabilities in liabilities side

2. Accounts Receivable - Current asset in assets side

3. Accumulated Depreciation—Building - Property, plant, and equipment in assets side

4. Cash - Current asset in assets side

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7. Supplies - Current asset in asset side

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5 0
3 years ago
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