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Sholpan [36]
3 years ago
11

Financial statements should be useful. Which of the following is not one of the qualities of useful financial representation.

Business
1 answer:
AlexFokin [52]3 years ago
8 0

Answer:

A. Expand-ability Relevance

Explanation:

Financial statements does not need expansion, therefore expand-ability relevance is not one of the qualities of financial statements.

A. Faithful representation- financial statements must be a faithful representation of the state of the entity. it should represent the correct position of the entity.

B. Comparability - The financial statements must be prepared in accordance with acceptable standard to ensure comparison within and without the entity.

C. Consistency and Verifiability - The numbers must be verifiable and methods choosing in treating certain items must be consistent over time.

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C so sorry I’m wrong
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Carol and Dave each purchase 100 shares of stock of Burgundy, Inc., a publicly owned corporation, in July for $10,000 each. Caro
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Answer:

b. They are treated differently because the loss in value of Carol's stock is the result of a sale, while the loss in value of Dave's stock is simply a decline in value.

Explanation:

Although the stock owned by Carol and by Dave declines in value by $2,000, however Carol only has a realized and recognized loss of $2,000. The main factor in determining whether a disposition has taken place often whether an identifiable event has occurred. In the current scenario, Carol’s stock sale qualifies as a disposition and the Dave’s stock value decline does not qualify as a disposition and is simply a decline in value.

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4 years ago
Annual Income Statement Data Selected Year-End Balance Sheet Data Sales $ 50,000 Prepaid expenses increase $ 3,000 Expenses: Inv
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Answer:

see calculation and working below

Explanation:

operating activities section

Net income                                                               $ 8,500

Adjust for changes in non- cash items :

Amortization expense                                                $1,500

Adjust for changes in working capital :

Prepaid expenses increase                                   ($ 3,000)

Inventory increase                                                     ($500)

Accounts payable decrease                                   ($1,000)

Net Cash Provided by Operating Activities            $5,500

6 0
3 years ago
Mara Kay is a system analyst for a national department store. She was tasked to identify previously unknown relationships in the
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Data Mining is also known as Knowledge Discovery in Databases.

Data Mining will not be complete if the results of the analysis are not used for future purposes, therefore, Mara Kay will use the results of her findings for future promotions.

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Answer:

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A microbe (microorganism) is a microscopic organism which either exist in its single-celled form or as colony of cells. Example of microbes are bacteria, archaea, algae, protozoa.

Yeast is a microbe used in the extraction of ethanol from fruit juices and sugar molasses. Saccharomyces cerevisiae is a specie of yeast which reacts with fruit juices and sugar molasses in the absence of Oxygen to produce ethanol and carbon dioxide.

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