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3 years ago

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 standard and not only broad guidelines of general application and this will imply that GAAP has a substantial authoritative support.

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

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If real income rises 4%, prices rise 1%, and nominal money demand rises 4%, what is the income elasticity of real money demand?

goblinko [34]

The income elasticity of real money demand d. 3/4

Increase in real money demand = Increase in nominal money demand - Increase in inflation = 4% - 1% = 3%

Income elasticity of real money demand = % increase in real money demand / % increase in real income

= 3% / 4%

= 3/4

Income elasticity of demand is a monetary measure of how responsive the amount of demand for a very good or provider is to trade-in earnings. The formulation for calculating earnings elasticity of demand is the percentage change in quantity demanded divided by using the percent change in earnings.

In economics, the profits elasticity of call for is the responsivenesses of the quantity demanded an amazing to an alternate in patron profits. It is measured because of the ratio of the share exchange in the amount demanded to the proportion exchange in profits.

If the earnings elasticity of call for is more than 1, the best or carrier is taken into consideration a luxury and profits elastic. An amazing provider that has an earnings elasticity of call for between zero and 1 is considered an ordinary correct and income inelastic.

Learn more about Income elasticity here: brainly.com/question/15899715

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5 0

2 years ago

When profit-maximizing firms in competitive markets are earning profits, market demand must exceed market supply at the market e

ella [17]

The correct answer is " new firms will enter the market"

4 0

4 years ago

Question 3

Anna007 [38]

The answer is false....

7 0

3 years ago

Read 2 more answers

The actual and standardized budgets will be equal when:  A. The rate of inflation is zero B. The economy is at full employment C

alexira [117]

Answer:

The correct answer to the following question is B) the economy is at full employment.

Explanation:

Standardized budget which is also know as full employment budget , is used to measure the federal budget deficit or surplus , with the given tax rates and government spending. Here the assumption made is that the economy has full employment, and this is one of the major difference between standardized and actual budget . Also standardized budget would reflect any type of adjustment that has to be made in the actual budget. So therefore the only way that actual budget and standardized budget are equal is when they both have full employment present in the economy.

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3 years ago

Bill heard, as part of the _____ curriculum in his school, that certain races were not as good as others, and that coolness was

Alik [6]

Bill heard, as part of the corridor curriculum in his school, that certain races were not as good as others, and that coolness was the key to everything. corridor curriculum means what students teach one another outside of the class room,usually negative.

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3 years ago