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
andre [41]
3 years ago
9

Explain why the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Advisory Board (FASAB) inc

lude budgetary comparisons in their concept statements but the Financial Accounting Standards Board (FASB) does not.
Business
1 answer:
Irina18 [472]3 years ago
4 0

Answer:

Please refer the reason in detail below

Explanation:

For state and local government entities, additional standards are promulgated by the Governmental Accounting Standards Board ("GASB") and for the federal government, additional standards are promulgated by the Federal Accounting Standards Advisory Board ("FASAB").

GASB considers budgetary comparisons as an important part of the basic financial statements and financial reporting and therefore include budgetary comparisons in their concept statements

You might be interested in
Which of the following corporations is NOT a not-for-profit organization? A. American Cancer Society. B. Apple. C. Amnesty Inter
SCORPION-xisa [38]
D. I am sure about D.
8 0
3 years ago
___________________ are enacted when discontented sellers, feeling that prices are too low, appeal to legislators to keep prices
Marianna [84]
The answer is PRICE FLOORS.
6 0
2 years ago
What factors made your business Logo Design effective?
forsale [732]

I used fine lines and details mark me brainliest

3 0
3 years ago
A broadband service company borrowed $2 million for new equipment and repaid the loan in amounts of $202,000 in years 1 and 2 pl
Gnesinka [82]

Answer:

The interest paid on the $2 million loan borrowed by a broadband service company is $354,000 while the interest rate on the loan is 17.70%.

Explanation:

In finance, interest is the amount that a bank or financial institution charged a borrower for borrowing money from them or the amount paid the customers for making use of their deposit.

Answer 1: Calculation of interest

The interest amount can be obtained as the difference between the amount lent or borrowed and the total amount repaid.

From the question therefore, the interest amount can be calculated as follows:

Amount borrowed = $2 million = $2,000,000

Total amount repaid is the addition of all repayments made, i.e. $202,000 in years 1 and 2 plus a lump sum amount of $1.95 million at the end of year 3. This calculation is given as follows:

Total amount repaid = $202,000 + $202,000 + $1,950,000

                                  = $2,354,000  

Amount borrowed = $2 million = $2,000,000

Interest = Total amount repaid - Amount borrowed

             = $2,354,000 - $354,000

             = $354,000

Answer 2: Calculation of interest rate

When the interest amount is quoted as a percentage of the amount loaned to a borrower or as percentage of the used deposited money in the account of a customer, it is called an interest rate.  

Given the interest amount calculated in Answer (1) above, the interest rate can be calculated as follows:

Interest rate = (Interest ÷ Amount borrowed) × 100

                    = ($354,000 ÷ $2,000,000) × 100

                    = 0.1770  × 100

                    = 17.70%

Therefore, the interest paid on the $2 million loan borrowed by a broadband service company is $354,000 while the interest rate on the loan is 17.70%.

I wish you the very best.

4 0
3 years ago
Bixby Motor Oil has been experiencing increasingly unfavorable materials quantity variances since March. The company discovered
dusya [7]

Answer:

Option (c)

Explanation:

As per the data given in the question,

Standard quantity of material = 15,000 pounds for 10,000 units

Unfavorable variance in the quantity of material occurs when more material is used in comparison to the standard quantity.

As, Actual quantity = 17,000 pounds used for production of 10,000 units

It caused unfavorable material quantity variance.

Hence, the data which warned company about the problem is :

Actual quantity of 17,000 pounds used for the production of 10,000 units.

Option (c) is correct answer.

6 0
3 years ago
Other questions:
  • Steve just computed the present value of a $10,000 bonus he will receive next year. The interest rate he used in his computation
    12·1 answer
  • HCC, Inc., expects its dividends to grow at 25 percent per year for the next seven years before levelling off to a constant 3 pe
    7·1 answer
  • “If the minimum wage rate is higher than the equilibrium wage rate, fewer people will be hired because the cost of labor is too
    11·1 answer
  • The cases filed with HR at The Cross Company are concerning in that most of the classes that are protected by the CRA may have b
    9·1 answer
  • Good internal controls over the write-off of uncollectible accounts include appropriate review of ________ by management to ensu
    15·1 answer
  • The figure in the amount column is sometimes referred to as 'cumulative balance'. Why is it referred to in this way?
    8·1 answer
  • If Company A has a lower debt ratio than Company B, then Company A is likely to have __________ than Company B.
    12·1 answer
  • Snap is edenyaang and insta nobagchasers
    13·2 answers
  • The difference between accounting profit and economic profit is.
    12·1 answer
  • Rashad meets with his company’s accountant to discuss the budget of anticipated and actual expenses for each segment of the orga
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!