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spin [16.1K]
3 years ago
7

Any information useful to decision makers should be provided in the financial statements, subject to the cost effectiveness cons

traint. This describes which accounting principle
Business
1 answer:
user100 [1]3 years ago
4 0

Answer:

Fulldisclosure principle

Explanation:

The fulldisclosure principle states that any financial information that is relevant to the firm's stakeholders should be disclosed in the financial statements.

This principle is closely related with the materiality principle, which states that all relevant information should be recorded except for that information that is simply not relevant due to its intrisic characteristics (for example, a very small transaction in monetary value inside a very large company).

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Motor Sales sold its old office furniture for​ $6,000. The original cost was​ $16,000, and at the time of​ sale, accumulated dep
alexira [117]

Answer:

The effect of this the de-recognition of the asset in the book to the tune of 2,000 in the balance sheet and the recognition of a gain on disposal to the tune of $4,000 in the p/l.

Explanation:

cost  = $16,000

Accumulated depreciation =​ $14,000

Net book value = $16,000 - $14,000

                          = $2,000

Sales price = $6,000

Gain on disposal = $6,000 - $2,000

                            = $4,000

The effect of this the derecognition of the asset in the book to the tune of 2,000 in the balance sheet and the recognition of a gain on disposal to the tune of $4,000 in the p/l.

3 0
4 years ago
If Susie earns $796,000 in taxable income and files as head of household for year 2021, what is Susie's average tax rate
aniked [119]

32.12 %  is Susie's average tax rate.

Calculations for the above answer

Tax rate  Slabs Income Taxable at slab Income Taxable at next slabs Tax($)

10% $0 to $14200 14200 751800 1420

12% $14201 to $54200 40000 711800 4800

22% $54201n to $86350 32150 679650 7073

24% $86351 to $164900 78550 601100 18852

32% $164901 to $209400 44500 556600 14240

35% $29401 to $ 523600 314200 242400 109970

37% $523601 or more 242400 0 89688

     

Total Tax(A) 246043

Total Income(B) 796000

Average Tax rate {(a/b)x 100} 32.12  .

The simplest way to calculate your effective tax rate is to divide your income tax expense by your pre-tax profit (or income). Tax expense is usually the last item before the bottom line (net income) of the income statement.

This difference is due to the 12 months of inflation from September 2020 to August 2021 used to calculate the adjustment.

Learn more about Tax rates here: brainly.com/question/9437038

#SPJ4

8 0
2 years ago
Th process of gaining the resources and skill needed in managing consumer resources is known as
storchak [24]

Answer:

A.) Consumer Education

Explanation:

CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction.

Simply stated, it's a strategic process which typically involves collecting customer information for the purpose of improving a customer's future experience.

Therefore, this employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.

In this context, consumer education is a strategic process which typically involves gaining the necessary resources and skills required to manage consumer resources in order to continue to provide satisfactory services to them.

5 0
3 years ago
Read 2 more answers
Rt a you are the lucky student of a wacky professor who develops a time machine. he asks if you will test it with him. you get i
Liono4ka [1.6K]
I believe it's the Era when earth wasn't really made into earth yet.
4 0
4 years ago
With respect to the key dimensions of service quality, promptly crediting returned merchandise and rapidly replacing defective p
emmainna [20.7K]

Answer:

responsiveness

Explanation:

With respect to the key dimensions of service quality, promptly crediting returned merchandise and rapidly replacing defective products is an example of<u> responsiveness</u>

7 0
3 years ago
Read 2 more answers
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