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3 years ago

Which financial document is used to look at the past & see how much you made & where it went?

Business

1 answer:

Ludmilka [50]3 years ago

8 0

Answer:

Statement of cash flow

Explanation:

Statement of cash flow is a the financial document which is used to look at the past & see how much you made & where it went.

It consists of the entire data of the reconciling of the cash flow from the beginning of the period till the end of that period. It starts off with the net income and throughout its way, acknowledges the income spent, acquired, depreciation, loans, assets and expenses etc and shows it on the statement.

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Who is responsible for the preparation and integrity of the financial statements?

mezya [45]

The management of a company is responsible for the preparation and integrity of financial statements. These then get based on to accountants for tax purposes. Just as we keep records and "manage" our personal accounts for financial purposes, management does this for their corporation.

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3 years ago

When one party takes specific action to cover a material fact from another party, fraud by enticement occurs. question 1 options

Vladimir79 [104]

The answer to the question above is FALSE. It is not Fraud by Enticement but rather, Fraud by Concealment. This happens when one party takes a certain action to hide or conceal a material fact from another party. For example, when one company decides to purchase a material from the other and that the first company decides not to show all of the details of the product, which would then later on discovered that it is not brand new or have been repaired several times, they can sued for fraud by concealment.

8 0

3 years ago

Joan is a manager with Steel Works, Inc. Joan would love to beat the budget this year. She believes that revenues for the coming

vredina [299]

The amount of $130,000 in Expenses will be the least likely to be budgeted for while building a budgetary slack.

<h3>What is a budgetary slack?</h3>

This is a special consideration in a budget that seeks to increase the chances of the actual performance being better than the budget.

Joan will likely budget for $110,000 of expenses, $210,000 of revenue and $80,000 of income.

Therefore, the amount of $130,000 in Expenses will be the least likely to be budgeted for

Read more about budgetary slack

<em>brainly.com/question/15327518</em>

6 0

2 years ago

The following is an estimated demand function:

Tanzania [10]

Answer:

The predicted value of sales is $75,037,500.

Explanation:

Given:

Q = 875 + 6XA + 15Y - 5P ……………………..(1)

Where:

Q = quantity sold = ?

XA = Advertising = $100,000

Y = Income = $10,000

P = Price = $100

Substituting the values into equation (1), we have:

Q = 875 + (6 * 100,000) + (15 * 10,000) - (5 * 100)

Q = 750,375

Therefore, we have:

Predicted value of sales = Q * P = 750,375 * $100 = $75,037,500

Therefore, the predicted value of sales is $75,037,500.

3 0

3 years ago

Lusk Corporation produces and sells 10,000 units of Product X each month. The selling price of Product X is $40 per unit, and va

melisa1 [442]

Answer:

There is a financial disadvantage of ($30,000).

Explanation:

The discontinuity of product X would result in the contribution lost.

Sales that would be lost = $40 × 10,000 units = $400,000

Relevant variable cost with the production of product X that would be saved = $32 × 10,000 units = $320,000

Contribution lost = Sales lost - Variable cost saved

Contribution lost = $400,000 - $320,000

Contribution lost = $80,000

Saving in fixed costs = $120,000 - $70,000 (this would not be incurred) = $50,000

However, still contribution lost is more than the saving in fixed costs

Therefore, the financial disadvantage = $80,000 - $50,000 = ($30,000)

3 0

3 years ago