Fill in the blank label in the above figure.

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

earnstyle [38]

Answer:

Letter d is correct. Full disclosure.

Explanation:

The accounting principle of full disclosure can be defined as GAAP requirements for an organization's management to provide all key information about the company's operations to investors and creditors, so that such external users can use the financial statements and notes. relevant footers to assist in the decision-making process.

Therefore, the main objective of the full disclosure principle is that there is a principle of transparency for organizations in the disclosure of financial information capable of influencing the judgment of external users, such as past transactions and future contingent events to third parties.

8 0

4 years ago

An organization estimated that in a particular year the population of a country spent $10.4 trillion in personal consumption. T

navik [9.2K]

Answer:

The approximate annual per capita spending for personal consumption is $30,145 person per year

Explanation:

The formula to compute the approximate annual per capita spending for personal consumption is shown below:

= Total amount which country has spent in a particular year ÷ Total population

Since the population amount is 310 million and the total amount spent is $10.4 trillion

So, we have to convert the million to trillion

So, the revised population would be

= 345 ÷ $1000,000 = 0.000345 trillion

Now put these values to the above formula

So, the answer would be equal to

= $10.4 trillion ÷ 0.000345 trillion

= $30,145 person per year

8 0

4 years ago

If $1000 is invested at 6% interest, compounded annually, then after n years the investment is worth an

Temka [501]

Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment= $1,000

Annual interest rate= 6% = 0.06

Number of periods= n

To calculate the future value after "n" periods, we need to use the following formula:

FV= PV*(1+i)^n

For example:

n= 6 years

FV= 1,000*(1.06^6)

FV= $1,418.52

6 0

3 years ago

Why is the supply curve a vertical line

AlladinOne [14]

In some cases, supply curves are vertical, which means that for any price from 0 up to infinity, the quantity will stay the same.

This is very true for supply of an authentic painting in auctions, where there may only be 1 single painting, and people state the highest price they are willing to pay for the painting. Regardless of the price, there will only be 1 authentic painting for that price.

Hope this helps! :)

5 0

3 years ago

Which of the following statements is true? a. The word theory means same for both economists and laymen. b. Abstraction forms an

VladimirAG [237]

Answer:

B) Abstraction forms an important part of economic analysis.

Explanation:

Economic abstraction refers to ignoring certain factors while doing economic analysis. Some minor or even important economic details must be assumed when trying to analyze certain situations. That is why economists love to use ceteris paribus (everything else constant). Macroeconomic theory is impossible to prove in a scientific way, only certain microeconomic theories can be tested scientifically. In order to perform macroeconomic analysis, economists must simplify the real world, since economy is too complex and has too many factors that can alter any possible analysis. It is impossible to analyze a nation's economy as a whole since millions of people and businesses make billions of economic decisions very day.

3 0

3 years ago