When Raphael Corp. incorrectly mentioned an expense of equipment addition instead of capitalizing the effect of the same, then in such case, the net income of the company is understated in the financial statements.
<h3>What is net income?</h3>
The income which is left at the end of an organization at the end of a financial period after making all the regulatory and compliant payments and deductions, such as taxes and depreciation, it is known as net income.
Hence, the significance of net income is aforementioned.
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Answer:
This enables Fleet to reduce costs of regulatory compliance in relation to the security issue
Explanation:
When a company is exempt under the Securities Act of 1993,this implies that when issuing securities in the market place,the stock exchange ,the company is not required to produce audited financial statements.
Auditing financial statements sometimes cost fortunes especially when it is also required that one of the Big-4 professional firms is to be consulted.
By not requiring audited financials,the costs of audit is saved,hence cost of compliance with exchange rules is reduced overall
Answer:Graphically show & explain how carpooling may eliminate the shortage.
Explanation:
Answer:
Explanation:
Based on my research Agile MIS infrastructure Includes the hardware, software, and telecommunications equipment that, when combined, provides the underlying foundation to support the organization’s goals. Like mentioned previously these all combine in order to form a system which gives the organization to the means of achieving the goals and vision set forth by the founding members of the organization.
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Answer:
A two-column schedule listing names and balances of all ledger accounts.
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.
A trial balance consists of a two-column schedule listing names and balances of all ledger accounts.
