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lorasvet [3.4K]
3 years ago
7

Which assumption or principle requires that all information significant enough to affect decisions of reasonably informed users

should be reported in the financial statements? Going concern. Historical cost. Full disclosure. Matching.
Business
1 answer:
sladkih [1.3K]3 years ago
7 0

Answer:

The answer is: full disclosure principle

Explanation:

Full disclosure principle in accounting refers to the requirement that businesses are supposed to provide all material information pertaining to their operations to the stakeholders of the business so as to facilitate better decision-making frameworks when evaluating the business.

The going concern principle is based on the assumption that the business will not cease operating in the foreseeable future. The matching principle requires that the expenses incurred in carrying out an economic activity are recorded in the same period as the revenues earned from that activity. The historical cost principle requires assets or liabilities to be recorded at their acquisition value.

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The following information relates to the manufacturing operations of the JNR Printing Company for the year: Beginning Ending Raw
grin007 [14]

Answer: $117,000

Explanation:

So we are to calculate the Raw Materials purchased during the year.

Logically speaking the following should hold,

Raw materials purchased during the year + beginning raw materials = ending Raw materials + Raw materials used

Agreeing on that and rearranging the formula we will have,

Raw Material purchased during the year = Raw Material used during the year + Ending Raw Material Inventory - Opening Raw Material Inventory

Slotting in the figures we will then have,

Raw Material purchased during the year = 114,000 + 56,000 - 53,000

= $117,000

Raw materials purchased during the year amount to $117,000.

8 0
3 years ago
Amazon's latest attempt to shore up and enhance its competitive barriers by introducing a home service marketplace that may help
fenix001 [56]

Answer:

<u>Customer excellence</u>

Explanation:

Amazon's latest attempt to store up and enhance its competitive barriers by introducing a home service marketplace that may help it achieve a lasting , powerful advantage is an example of<em> Customer Excellence.</em>

Customer excellence help a company in attracting the customer towards it. Customer excellence can be achieve by making your customers happy, by providing them good quality of goods, by listening their grievances , by providing them after sale service which is an important thing , by never saying no to them , always provide help to them .

Employees of the company should always be attentive towards the need of the customer .They should have complete knowledge of the product so that customer have no doubt regarding the product at the time of purchasing. He should have the ability to read the mind of the customer and understand his need .

4 0
3 years ago
In making decisions about what to consume, a person's goal is toA) allocate her limited income among all the products she wishes
elena55 [62]

Answer: Option (C) is correct.

Explanation:

While making decisions about the consumption, a person wishes to maximize their marginal utility drive from every unit rather than total utility.

Marginal utility refers to the satisfaction that a consumer can get from the consumption of one additional unit of goods and services.

So, consumer wants to maximize marginal utility from the products that he/she is buying with the limited level of income. They want to utilize their limited income in a best possible manner.

7 0
3 years ago
WAN YOU TELL THE DIFFERENCE?
mash [69]

Answer:

Why is this so long I don't understand

sorry

8 0
3 years ago
What is Capital Preservation?
Aleksandr-060686 [28]
To make sure you don’t lose your initial investment
6 0
3 years ago
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