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ASHA 777 [7]
3 years ago
12

Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in operation for

the foreseeable future. (b) Indicates that personal and business record-keeping should be separately maintained. (c) Only those items that can be expressed in money are included in the accounting records. (d) Separates financial information into time periods for reporting purposes. (e) Measurement basis used when a reliable estimate of fair value is not available. (f) Dictates that companies should report all circumstances and events that make a difference to financial statement users.
Business
1 answer:
Leviafan [203]3 years ago
4 0

Answer:

(a) Belief that a company will remain in operation for the foreseeable future.

Accounting assumption or principle: Going concern assumption

(b) Indicates that personal and business record-keeping should be separately maintained.

Accounting assumption or principle: Economic entity assumption

(c) Only those items that can be expressed in money are included in the accounting records.

Accounting assumption or principle: Monetary unit assumption

(d) Separates financial information into time periods for reporting purposes.

Accounting assumption or principle: Periodicity assumption

(e) Measurement basis used when a reliable estimate of fair value is not available.

Accounting assumption or principle: Historical cost principle

(f) Dictates that companies should report all circumstances and events that make a difference to financial statement users.

Accounting assumption or principle: Full disclosure principle

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A. Output is being produced at minimum cost- is correct

Explanation:

When an isocost line is tangent to an isoquant cost is being minimized

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.b This is a bilateral contract, and Mark is entitled to nothing because he did not perform

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The contract is bilateral as obligation to perform exist for both parties.

Helen is obligated to pay the reward to the person who finds the cat and bring her home.

As Mark didn't find the cat it didn't perform (find the cat) Helen is not obligated to payup the reward for Fluffy

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3 years ago
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Answer:

E) matrix departmentalization

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Matrix departmentalization is an organizational structure that combines functional and task force departmentalization in order to improve economies of scale and/or customer service.

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how can electricity, communication, and transportation facilities indicate the potential for industrial growth?​
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The more electricity, communications, and transportation used in a nation's economy, it will give them a more developed country and a greater potential for increased industrialization.

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On December 31, Tradewinds Company decides to trade in one of its ships for another one that has a cost of $800,000. The seller
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gain of $10,000

Explanation:

The gain or loss that Tradewinds will have is the difference between the trade-in amount and the basis minus accumulated depreciation:

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