Answer:
mutual funds
bonds
retirement funds
commodities
Explanation: i just took it
The income should be recorded in 2018 when the income is received by Pedro.
<u>Explanation:</u>
Revenue ought to be get recorded when the entire business has managed to earn the income. This is a key idea in the collection premise of bookkeeping since income can be recorded without really being gotten. Incomes are acknowledged or feasible when an organization trades products or administrations for money or different resources.
Since in the question above, the income was received in the year 2018 even though the work was done in the year 2016, the person will not get his income in 2016. He will record his income in 2018.
Answer:
<u>Assertion 1)</u> Existence or occurrence: the company must provide the loan documents along with proof that they actually purchased the stocks and bonds using the loan money. It would also help to have a document explaining why the building site couldn't be acquired as planned.
<u>Assertion 2)</u> Rights and obligations: all the legal paperwork regarding the loan, the mortgage on the existing plant and the stocks and bond paperwork must be presented.
<u>Assertion 3)</u> Completeness: all the relevant information must be given to the auditor including building titles, inventories, equipment, cash receipts, etc. The auditor should be allowed to physically visit the plant and confirm the documents.
<u>Assertion 4)</u> Valuation and allocation: information regarding the current market values of the building, inventories and equipment should be given to the auditor. The auditor should be able to confirm if the depreciation values and market values are consistent. Also, the auditor must have access to accounts receivables and should be able to analyze them to check for any inconsistencies.
<u>Assertion 5)</u> Presentation and disclosure: the auditor should be able to check expense accounts and capitalization accounts, and analyze them. E.g. equipment or machinery repairs must be treated as expenses and not capitalized.
Answer:
a) Cost accounting: it is concerned with the provision and the use of accounting information to managers within the organisation to provide them with the basis to make informed decisions.
b) Public accounting: it is a specialised branch of accounting that keeps track of companies' financial transactions.
Explanation:
Cost accounting also known as managerial accounting is an accounting technique that's focused on the identification, measurement, analysis, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.
Basically, cost accounting systems is an accounting system that is used by an organization to report both monetary and nonmonetary information.
Public accounting is an accounting technique that's typically used for analyzing, summarizing and reporting of financial transactions such as sales costs, purchase costs, payables and receivables of organizations (companies) using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).