1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lelu [443]
3 years ago
7

Which of the following is not true of generally accepted accounting principles?

Business
1 answer:
andrey2020 [161]3 years ago
8 0

Answer:

(A) GAAP does not have substantial authoritative support.

Explanation:

Choices B to C are true about GAAP.

Now, Choice A is not true since  GAAP also includes detailed procedures and practices that provide a <u>standard</u> and not only broad guidelines of general application and this will imply that GAAP has a <u>substantial authoritative support.</u>

<u></u>

Also it is called "Generally Accepted Accounting Principles" for this reason.

You might be interested in
Comdex Inc. manufactures parts for the telecom industry. One of its products that currently sells for $210 is now facing a new c
strojnjashka [21]

Answer:

$147

Explanation:

The computation of the target cost of the product if the desired prodit percentage is considered

Given that

Currently sale price = $210

New competitor price = $190

Currently cost = $180

Reduced price = $190

Profit percentage is 30%

So the target cost of the product is

= Sale price - desired profit

= $210 - $210 × 30%

= $210 - $63

= $147

3 0
3 years ago
Michael is a senior in high school and wants to major in a business-related class when he goes to college. Michael plans to sele
RideAnS [48]

Answer:

Domain planning

Explanation:

6 0
3 years ago
_____ occurs when an individual or business capitalizes on a price differential for a firm’s product between two countries by bu
Jlenok [28]

Answer: Arbitrage

Explanation:

5 0
2 years ago
Cassidy Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products us
Studentka2010 [4]

Answer:

Answer is option B $68.70

Total overhead costs

Assembling products (918000/54000)*3000.......510,000

Preparing batches (397440/2484)*1026.............164160

Product support (1134000/3780)*1188.............. 356400

Total overhead costs............................................ 1030560

Unit overhead cost = total overhead costs / number of units = 1030560/15000 = 68.70

Explanation:

6 0
2 years ago
There are several compelling arguments against job discrimination of any kind. utilitarians reject discrimination because
Vanyuwa [196]
<span>Discrimination that is not consciously or deliberately sought, but it brought about by stereotypes or as an unintended outcome.</span>
6 0
3 years ago
Other questions:
  • The windows 10 desktop has controls, also known as its ____, that allow you to interact with the windows 10 operating system.
    8·1 answer
  • What is the rate that the federal reserve banks charge financial institutions for loans called?
    8·1 answer
  • What is the purpose of NCUA Lending Regulations? A. to educate consumers on their rights for fair credit reporting B. to educate
    8·2 answers
  • Jason has been at his job for almost 20 years now. Although he does not move as fast as some of the younger employees, he still
    10·1 answer
  • Chinchilla, Inc. uses activity-based costing. The company produces X and Y. Information relating to the two products is as follo
    12·1 answer
  • Expenses are recognized Multiple Choice when a petty cash account is established. when an employee is reimbursed for expenses in
    14·2 answers
  • Can someone be my friend?
    14·2 answers
  • The main problem with the fee-for-service model is that doctors have an incentive to:
    9·1 answer
  • Recording Initial Transactions and Subsequent Adjustments
    12·1 answer
  • North Inc. is a calendar-year C corporation, accrual-basis taxpayer. At the end of year 1, North accrued and deducted the follow
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!