3 years ago

Which of the following statements describes GAAP?

Business

2 answers:

Lilit [14]3 years ago

8 0

The answer might be c

seraphim [82]3 years ago

6 0

Answer:

The answer is D

Explanation:

You might be interested in

Rick's Internet Corporation's balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriat

gtnhenbr [62]

<u>Answer</u> is D. remain at $30,000.

<u>Explanation:</u>

Rick's Internet Corporation balance in retained earnings = $30,000

Appropriated earning for future business expansion = $15,000

This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings, the entry is to debit the retained earnings account.

Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.

6 0

3 years ago

Sharon had some insider information about a corporate takeover. she unintentionally informed a friend, who immediately bought th

yawa3891 [41]

This is an example of insider trading, which is using private company data or information to make improper gains.

7 0

3 years ago

Katherine Connor started her day with a cup of coffee while reading the newspaper.However, something about the day makes her fee

11Alexandr11 [23.1K]

Answer:

Mood

Explanation:

Mood is ones present states of mind. This present states of mind controls one's reaction that are visible to others. For example when one is in a good mood, he tends to be cheerful, smile often and happy but when one is in a bad mood like Katherine Conor, one tends to be unhappy,distracted and easily angered.

4 0

3 years ago

What information do consumer reporting agencies provide banks and lending businesses for a person's credit history when a person

Musya8 [376]

Employment, produce preference, current and past loans, bankruptcy histroy and debt

3 0

3 years ago

Ron Landscaping's income statement reports net income of $75,200, which includes deductions for interest expense of $13,200 and

kaheart [24]

Answer:

times interest earned= 9.49

Explanation:

Giving the following information:

Ron Landscaping's income statement reports net income of $75,200, which includes deductions for interest expense of $13,200 and income taxes of $36,900.

First, we need to calculate the income before taxes and interest expense:

EBIT= 75,200 + 13,200 + 36,900= $125,300

Now, to calculate the times interest earned we need to use the following formula:

times interest earned= EBIT/ interest expense= 125,300/13,200= 9.49

3 0

3 years ago