Answer:
The answer are:
- 2018 most accurate inventory
- 2017 least accurate inventory
Explanation:
Garret Market uses a periodic inventory system (updates are made on a periodic basis) and in order to carry out this process correctly, the inventory should remain closed. Only in 2018 was the inventory closed, so it should be the most accurate. In 2017 the store remained fully opened and inventory was modified daily, so it should be the least accurate.
Governmental fund-basis statements are prepared using the <u>Modified accrual basis</u>, and must be converted to the <u>accrual basis </u>to be incorporated in the government-wide statements.
Accrual accounting is a method of financial accounting that allows an entity to record incoming revenue in their accounts even before payment for their product or service is received, and to deduct expenditure even before the payment is made.
Thus, even future transactions are recorded in the firm’s accounting books.
Modified accrual accounting is another financial accounting method. It is a combination of accrual accrual accounting and cash basis accounting. It records revenues and expenditures when receipts and liabilities are created.
It also leverages the simplicity of cash basis accounting.
To learn more about accrual basis accounting: brainly.com/question/13464862
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Government sets rules for businesses. Business owners have the freedom to choose any organization structure they think is right for them while government does not.
Cultural pluralism is a term used when smaller groups within a larger society maintain their unique cultural identities, and their values and practices are accepted by the wider culture provided they are consistent with the laws and values of the wider society. Cultural pluralism is distinct from (though often confused with) multiculturalism. so TRUE
Answer: A. product-by-value analysis
Explanation: product-by-value analysis is listing of products in descending order of their individual dollar contribution to the firm, also because the total annual dollar contribution of the merchandise. Low contribution on a per-unit basis by a specific product may look substantially different if it represents an outsized portion of the company’s sales. A product-by-value report allows management to guage possible strategies for every product.