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TEA [102]
2 years ago
14

Enhancing qualitative characteristics of accounting information include each of the following except:

Business
1 answer:
Gnom [1K]2 years ago
7 0

Answer:

Except Materiality.

Explanation:

The qualitative characteristics of accounting information are divided into;

i. Fundamental ( Relevance (materiality) and faithful representation)

ii. Enhancing.

According to ACCA and IASB the fundamental characteristics has two major components; a. Relevance and b. faithful representation.

Relevance actually mean having material value. In accounting, a transaction has material value if it inclusion or omission can change the overall opinion of the financial statement from a profit to loss.

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Pfizer Inc., a pharmaceutical company, reported net income for fiscal 2016 of $7,215 million, retained earnings at the start of
Kisachek [45]

Answer:

$71,774 million

Explanation:

Given that,

Beginning retained earnings = $71,993 million

Net income = $7,215 million

Dividends = $7,448 million

Other transactions = $14 million

Balance of retained earnings at the end of the year:

= Beginning retained earnings + Net income - Dividends + Other transactions

= $71,993 million + $7,215 million - $7,448 million + $14 million

= $71,774 million

Therefore, the balance of retained earnings at the end of the year is $71,774 million.

7 0
3 years ago
Cordelia is an employee of Snaktyme Foods in Missouri. She earns $24,000 annually. Snaktyme has provided uniforms worth $350 and
Aleks04 [339]

Answer:

option (B) 31,500

Explanation:

Data provided in the question:

Annual earning = $24,000

Worth of uniform = $350

Training worth = $850

Contribution to 401(k) = half of  4% of earning

= 0.5 × 0.04 × $24,000

= $480

monthly amounts toward her insurance:

health = $125

Life = $50

AD&D = $30

Total annual amounts toward her insurance = 12 × [ $125 + $50 +$30 ]

= 12 × 205

= $2,460

Therefore,

Employer taxes and insurance = 14% of $24,000

= $3,360

Therefore,

Cordelia's total annual compensation

= $24,000 + $350 + $850 + $480 + $2,460 + $3,360

= $31,500

Hence,

Answer is option (B) 31,500

4 0
2 years ago
What is the relationship between the National Response Framework and the National Incident Management System (NIMS)? A. The Nati
elena-s [515]

D. The response protocols and structures described in the National Response Framework align with the NIMS, and all NIMS components support response. This looks like the best option as the two are interelated.

5 0
3 years ago
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Answer:

a -- cash alc dr to capital alc cr

drawing to cash

8 0
2 years ago
Expresses the error as a percent of the actual values, undistorted by a single large value.
bonufazy [111]
This is true regarding an engineer
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