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allsm [11]
3 years ago
15

Sylvia records the purchases of inventory in the current accounting period even though she will actually pay for the inventory i

n the next accounting period. Which accounting principle does she comply with?
A)business entity concept
B)cash based accounting principle
C)accrual basis of accounting
D)going concern concept
Business
1 answer:
Sergio [31]3 years ago
6 0

The answer is: C.accrual basis of accounting

Accrual basis of accounting would record a certain transaction as soon as it happen, even though an exchange of payment has not been made. Compared to any other basis, accrued basis tend to the most likely to represent the actual financial condition of a company. This is why this basis is used as the current industry standard.

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7. Multi-Step Four girls and two boys
dimaraw [331]

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ycow [4]
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6 0
3 years ago
If the expected sales volume for the current period is 7,000 units, the desired ending inventory is 400 units, and the beginning
Ksivusya [100]

Answer:

7,000 units

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Calculation for the number of units set forth in the production budget, representing total production for the current period

Using this formula

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Beginning inventory =400 units

Let make plug in the formula above

Number of units =7,000 units + 400 units-400 units

Number of units =7,000 units

Therefore the Number of units will be 7,000 units

5 0
3 years ago
Kkenneth caplan is a salaried employee who normally works a 371⁄2-hour week and is paid a weekly salary of $675.00. the agreemen
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