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
Anna35 [415]
3 years ago
10

Identify the basic assumption or broad accounting principle that was violated in each of the following situations.

Business
1 answer:
andrezito [222]3 years ago
6 0

Answer:

1) expense recognition principle: expenses are recognized when they are consumed.

2) historical cost principle: a company must record its assets, liabilities, and equity investments at their original costs.

3) economic entity principle: the company's transactions should be kept separate from those of its owners or upper management.

You might be interested in
The managers of a popular software firm believe in trusting their subordinates to perform effectively rather than monitoring the
disa [49]

Answer:

Decentralized control

Explanation:

Decentralized control -

It refers to the method adapted by the organisation or company , in which the  lower level elements helps completely to attain certain goal or task , is referred to as decentralization control

In this case , the people in the higher post need not rule over the lower one to complete the project or task on time .

The company using this method is happy as the employees are hardworking and there is least number of arguments , and hence becomes successful in shorter run .

Hence , from the question ,

The correct term is decentralization control .

3 0
3 years ago
Which of the following is known as a partnership agreement? articles of partnership distribution of assets shared liability the
Vlad1618 [11]
The correct answer is shared liability
5 0
3 years ago
The December 31, 2009, balance sheet of Anna’s Tennis Shop, Inc., showed current assets of $2,584 and current liabilities of $1,
Igoryamba

Answer: ($203)

Explanation:

The company’s 2010 change in net working capital will be calculated thus:

Net working capital = current assets - current liabilities

For 2009, net working capital will be:

= $2,584 - $1,191

= $1393.

For 2010, net working capital will be:

= $2,644 - $1,048

= $1596

Change in net working capital will be:

= $1393 - $1596

= ($203)

6 0
3 years ago
Ally Bank advertises "24/7 live customer care," which means that customer can call by telephone and speak with a human being abo
Sidana [21]

Answer:

Ally Bank is emphasizing the Empathy dimension of service quality

Explanation:

Empathy -

It refers to the practice of providing proper attention and help to consumers , is referred to as empathy .

In companies these practice is done in order to help the consumers in the best possible manner , which will in turn help the company with good feedback and profit .

Hence , from the given scenario of the question ,

The correct answer is empathy .

4 0
3 years ago
Which of the following terms refers to a promise made to lenders by a borrower?
Natali5045456 [20]

Answer:

Covenant.

Explanation:

A covenant in business context refers to a formal debt agreement between a lender and a company that specific actions will or will not be undertaken.

4 0
3 years ago
Other questions:
  • Presto company purchased equipment and these costs were incurred: cash price $65,000 sales taxes 3,600 insurance during transit
    10·1 answer
  • A 25-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 8%. a. Find the bond equivale
    8·1 answer
  • Why is not a good practice to save everything on a desktop
    14·1 answer
  • A disadvantage of speed dating is that it ________. is one of the most expensive dating methods tends to rate potential daters l
    15·1 answer
  • Pls help me and thank youuu!!!
    10·2 answers
  • Anybody got discord?
    15·2 answers
  • I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and we make $200,000 a year profit with me working
    14·1 answer
  • From your personal experience, what makes you decide whether or not to follow a specific influencer? If you don't use social med
    6·1 answer
  • Consider the market for plastic deck chairs. Suppose many families go on a barbecue binge and buy new barbecue grills to use out
    10·1 answer
  • Fe2O3 + 3 CO → Fe + 3 CO2
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!